Barnaby's Budgeting Tips: Day 14

We're halfway through the Great British Budget challenge! Are you still on budget? We'd love to know how you're getting on - drop us a tweet to let us know @yourwealthuk #GreatBritishBudget

Council tax is something we all have to budget for, but could you be paying too much?

Barnaby says:

"Did you know that you could be paying too much council tax? Most homes were put into a council tax band in 1993 and haven't been reassessed since - that's a long time! According to official figures, around 1 in 20 homes have been found to be in the wrong band since then. If you think you may be paying too much, contact the Valuation Office Agency for a reassessment. But remember that if your home has been renovated or extended, your valuation could go up and you might end up paying more!"

Have you had your home reassessed for this reason? What are the other ways of cutting down your essential household expenses? Share your thoughts in the comments below.

Remember to enter today's #GreatBritishBudget photo challenge! As it's Valentine's Day, we want to see how you and your loved ones are celebrating without breaking the bank. Share your snaps for the chance to win a £50 shopping voucher! (terms apply)

You can see all the photo challenge entries so far by checking out our Pinterest boards