There’s probably only one way that Brexit has united the whole country. The current chaos has left everyone worrying what the impact on their pockets will be after it comes in – or if it doesn’t.
A study commissioned by TheCityUK indicated that a no-deal scenario (in which goods imported from the EU will be subject to World Trade Organization tariffs) would cost Britain £27billion a year, or nearly £1,000 per household.
Since the referendum vote, the price of energy, groceries, and mortgages have all been on the up.
A no-deal Brexit would cost Britain £27billion a year – amounting to nearly £1,000 a household
Nic Gray is a financial expert and ‘futurologist’ from innovation specialists Fluxx, which has advised Selfridges, Argos, Mars Wrigley, banks like Lloyds and even the government on the trends that will (and won’t) affect their businesses.
Gray told the MailOnline exclusively: ‘There are eight things anyone can do right now, in less than an hour, to make back the possible £1000 cost, and cushion the blow if the worst-case scenario with Brexit happens.’
1) Sign up with Labrador – the end of worrying about whether to switch energy providers and to which one
11 million Brits overpay for energy by £360 a year on average. Switching energy providers can prevent this but a lot of us see either looking into it or actually doing it (i.e. in practical terms both) as a chore and somehow possibly hazardous.
Even then it can be hard to know whether you’ve really saved money. Labrador solves all these problems. Sign up with Labrador and they will regularly check you are on the right plan, switch providers if and when necessary, saving you an estimated £537 a year.
This is Money says: The saving of £537 will only apply to a small number of households – big energy users who have never switched before and then switch to the lowest possible tariff. But it is fair to say that households who have never switched or not switched for years could save hundreds. And Labrador does seem to make the whole thing easier.
2) Sign up with Trussle – and guarantee a lifetime with the best deals for your mortgage
Savings: Looking online can potentially save customers money on a variety of household costs
Trussle is the UK’s first online mortgage broker with a process that is brilliantly designed. Sign up to Trussle and it will find you the best mortgage (tracker, fixed or variable) so you can switch and you never end up on lenders standard rates again – even if you’re within your fixed rate period with all fees taken into account.
The website makes it easy to upload all the information that lenders need. And it even has real people available that we can talk to answer any queries about the details of the deals.
This is Money says: There’s a number of online mortgage advisers available now including Habito, Trussle, Dashly, Mojo, Mortgage Gym, Hooski and Hoocht. An important thing to note however – many of these services claim to monitor your mortgage on an ongoing basis and alert you when you could save by switching.
That claim is not always true and in order to monitor whether you could save, you’ll have to manually update your information yourself each month. If you want a firm that does check continuously and automatically for you, This is Money would suggest Dashly.
3) Use the app Zebra – to get cheaper fuel delivered to your car at no extra cost
Zebra Fuel comes to people’s houses to refuel their car but so far is only available in London
Zebra is an app anyone can download from the app store that brings fuel directly to your car, wherever you are. No more trips to the forecourt, just use Zebra to say where you have parked (at the station you took the train to work from in the morning, the supermarket where you’re doing your weekly shop, your home, your friend’s house, anywhere).
Then leave your fuel door subtly unlocked and Zebra will come and fill you up with fuel that is cheaper than your local forecourt.
This is Money says: The issue with Zebra is that it is currently only available in some bits of London and it also only offers diesel at the moment – not petrol. By comparison, the average price of diesel, according to RAC’s Fuel Watch is 135.61p a litre. Zebra’s diesel currently costs 135.5p a litre – coming in slightly cheaper. However, this is without the addition of delivery costs.
4) Use search engines Quidco or Topcashback rather than Google – to make big savings while online shopping
Massive amounts of cash-back is available when you purchase things like clothes, holidays, or insurance via a cash-back website rather than Google or other search engines.
Canny customers can get hundreds of pounds’ cash back a year. When you want to buy something online, simply find the place that’s selling it cheapest using the search engine of your choice (Google for instance).
Then go to Quidco or TopCashBack and check if they have a deal on that retailer. If so, just purchase via the cashback website rather than your search engine. They also often have 10–15 per cent discounts on big brands available.
This is Money says: There are so many money-saving websites and apps these days, it can be hard to know which one to choose. Search engines like Quidco and TopCashBack are great for specific products but apps like Vouchercloud are also worth checking as they can give customers money off for shops and restaurants in their local area.
5) Download either Pouch or Honey – to automatically receive discount voucher codes on a huge range of products and services
Honey is a browser extension that automatically finds voucher codes for you
There is no excuse for paying full price for anything online anymore as there are so many offers available if you look for them. Or rather use Pouch, a free browser extension that saves you time and money by automatically finding and filling in discount voucher codes if they exist for the goods/products you are buying.
This is Money says: Gone are the days when people have to hunt around to find the cheapest price. Nowadays, it is all done for you. Apps and browser extensions that can automatically give you the best offers available on that site are proving to increase in popularity.
It is worth exercising caution when choosing an extension though – make sure that whatever you’re installing on to your computer or smartphone is safe, secure and will protect your personal details.
6) Download the app Chip – and make extra interest on the money you’ve already saved
Saving has been made easy with Chip, and fruitful too because they will give you 5 per cent interest if you use their savings account. Download the app and you won’t even notice the money is gone because Chip uses algorithms to work out how much you can afford to save each month without feeling the pinch.
This is Money says: Whilst the app is beneficial in helping users organize their money, there is a catch when it comes to the five per cent interest that is promised. It is only available once someone has recommended their friends to the service – customers will get one per cent interest every time that they recommend a friend, up to five per cent total.
7) Download the app Hopper – to guarantee you find the fairest airfares
Download the Hopper app from the app store and tell it where you want to go in the world. As flight prices fluctuate, it will keep an eye on them for you, track trends, and tell you when it has found the best time to grab the fairest airfare to your ideal destination – for example, the best price once all the extra charges for luggage and other add on’s have been included.
This is Money says: Whilst Hopper can be a useful tool for prospective travelers, it is not the first website to track cheap flights. Skyscanner is a flight comparison website that has dominated the market for some years and will tell customers how much flights are for thousands of different routes around the world.
8) Sign up with Neomy – to get the best deals on exchange rates
Sign up with Neomy and it will track changes to the exchange rates you care about and then (through emails) suggest when a particular exchange rate is good, bad, or unchanged based on recent trends.
This is Money says: With Brexit on the horizon, exchange rates have been – and will continue to – fluctuate dramatically. An app that keeps an eye on them for you will definitely be beneficial for those looking to travel abroad.
It will also be worth checking other sources for exchange rates to make sure that you’re getting a good deal for your money. MoneySavingExpert has a good travel money price comparison too.