Fixed Costs Tracker: Analyse and Reduce Your Monthly Bills
Your fixed costs — rent, utilities, subscriptions, insurance, loan repayments — are the foundation of your monthly budget. They are also where the biggest savings hide. A subscription you forgot, an insurance policy that renewed at a higher price, or a broadband contract you never renegotiated can cost you hundreds of pounds per year. CheckFin works as a free fixed costs tracker that analyses your bank statement and shows you exactly where your money goes every month.
Most households overspend on fixed costs by 15-25% without realising it.
What are fixed costs?
Fixed costs are expenses that recur every month at roughly the same amount. They include: housing (rent or mortgage), utilities (electricity, gas, water, council tax), telecommunications (broadband, mobile phone), insurance (home, car, life, health), subscriptions (streaming, gym, software), and debt repayments (loans, credit cards, buy-now-pay-later). Unlike variable spending (groceries, dining, entertainment), fixed costs are predictable — which also means they are easier to optimise once you have visibility.
Why you should track your fixed costs
Fixed costs typically account for 50-70% of household spending, yet most people have never added them up. The problem compounds over time: a £5 subscription here, a £10 price increase there, and suddenly you are spending hundreds more than you need to. Tracking your fixed costs gives you a clear picture of your committed spending, reveals forgotten subscriptions, and identifies contracts you could renegotiate or switch. It is the highest-impact action you can take to improve your finances.
How CheckFin tracks your fixed costs automatically
Upload your bank statement (CSV or Excel) to CheckFin and it instantly detects every recurring payment. It groups your fixed costs by category — housing, utilities, subscriptions, insurance, debt — and shows the monthly total for each. You can mark each cost as: keep, optimise (negotiate a better deal), or cancel. CheckFin then calculates your potential savings and shows how reducing fixed costs improves your debt ratio and savings rate.
Practical steps to reduce your fixed costs
Start with the easiest wins: cancel unused subscriptions immediately, then tackle the bigger costs. Switch energy supplier (use a comparison site — savings of £100-300/year are common). Renegotiate broadband when your contract ends (or switch provider). Review insurance annually and get competing quotes. For mortgage holders: check if a remortgage would lower your rate. For renters: negotiate at renewal time, especially if you have been a reliable tenant. Every £50 you reduce in monthly fixed costs equals £600 more per year.
Fixed costs vs variable spending: where to focus
Many budgeting guides focus on cutting variable spending — fewer coffees, packed lunches, no takeaways. While these small changes help, optimising fixed costs delivers larger and more permanent savings. Cancelling a £30/month subscription saves £360/year without any daily willpower. Switching energy supplier can save £200/year with a single phone call. CheckFin shows both your fixed and variable spending, so you can decide where your effort will have the most impact.