In a family, budget management can be complicated . It is nevertheless essential to avoid delicate financial situations. Indeed, in the absence of planning of income and expenditure in a household, it is not uncommon to face bank charges and other fixed bank charges .
The end of the month rhymes with overdraft, intervention commissions or even unpaid credit. In addition, regularly taking the time to review the family budget is a real boon . We give you the main tips for everyone to lighten your family budget.
Insurance: Change company to pay less
The benefits of the Hamon law (2014) and the Bourquin amendment (2018) must be exploited . Thanks to these recent regulations, consumers now have the means to change insurance companies with more flexibility . And this can be very interesting in order to save money on the family budget. It is advisable to review all of your insurance contracts (Auto, Motorcycle, Home, School insurance or credit redemption ) at least once every three years. The overall gain is around 300 us dollars in annual membership fees. To find the best offers, it is possible to make free quotes online.
For mortgage holders, the law now gives you the choice of insurance . The contract taken out when the loan is set up can be changed. For that, it is enough to find a contract with similar or higher guarantees. To select the most suitable contract for your situation and especially at the best price, insurance brokers are at your disposal . This change in borrower insurance can be done once a year. The revision of insurance contracts is therefore a real opportunity for households who wish to reduce their charges.
Knowing how to negotiate with your banker
To save budget, it is also possible to reduce bank charges . If you have been a customer of the same bank for many years, do not hesitate to request a commercial gesture from them in order to reward your trust. Nowadays, it is increasingly rare to keep a single bank. When this is the case, bank branches do not hesitate to thank this loyalty which has become so rare.
On the other hand, for the holders of multiple contracts in the same establishment (Auto insurance, Home insurance, mutual, provident), the margin of negotiation is important. This “multi-holding” is indeed a profitability factor for banks . In return, it is therefore recommended to ask for a preferential rate on basic banking services .
The benefits of a loan buyback on the family budget
For those who have several loans to repay each month, the repurchase of credits remains the royal road to reduce its budget durably . When it comes to consolidating all or part of the current loans , the borrower makes significant savings and simplifies family budget management. Thanks to this restructuring, there is only a single monthly loan payment and a single borrower insurance contribution . In addition, banks specializing in loan consolidation give debtors the option of spreading their claims over a period longer than the initial period.
The economic situation remains very favorable for bank financing. Interest rates have been historically low for nearly five years. And this is also true for refinancing within the framework of the repurchase of credits and the restructuring of debts. It is therefore the opportune moment to resort to financial restructuring. Especially since the owners of their main residence have access to the mortgage loan . In short, this means that they have the possibility to resume their consumer loans (the rates of which are often higher) under the same conditions as real estate financing.
To lighten the family budget, consumers therefore have several arrows to their bow. The services offered by an insurance or loan repurchase broker allow them to make the best choices and access the most advantageous offers thanks to the partnerships they forge with banking and insurance establishments.