Winter should be firmly behind us now, and for many households, they can breathe a sigh of relief from higher energy bills and the wear and tear of living through winter.
Household costs like electricity, gas, water, broadband, car insurance and mobile phones consume most of our household budgets.
Rather than wait for the onset of another winter where prices will inevitably rise – now is the time to take stock and consider how could save hundreds of pounds before winter arrives again.
By following these simple tips, you can not only save money but energy too!
Electricity and gas costs
Switching energy providers is more straightforward than households think.
According to the energy supplier regulator Ofgem, it can just take minutes to, and in the process can save the average home £200 a year.
The simplest way to examine and compare alternative suppliers’ contracts is to view which deal will suit your home’s energy consumption. Comparison websites like Energy Helpline assess all the UK energy suppliers.
Also, from 1st January this year, Ofgem’s new dual fuel price cap was launched, meaning
Energy suppliers must cut their prices to either the same level or below the cap which was £1,137 per year for a standard dual fuel customer paying via direct debit. In the process, this would help 11 million UK households save on their fuel bills.
Ofgem estimates that the cap saves households who use a standard amount of electricity and gas and around £75 a year on average.
Another obvious way to save money on your energy bills is to yes, use less energy. The Energy Saving Trust’s website has loads of tips and ideas for smart ways to conserve energy in your home on a daily basis.
Switching off appliances rather than leave them on standby, filling a kettle with only the water you need and turning off heating when nobody is in the home. fitting a water-efficient showerhead are just some of its suggestions.
Home phone and broadband contracts
The impartial energy comparison site uSwitch estimates the average household can save £69 a year by switching broadband supplier when the contract ends. Broadbandgenie is but one site where homes can check not only whether a service provider offers services in your postcode, but what prices you could expect to pay.
Further savings can be made if households pay via direct debit and avoiding calling from the home landline during peak office hours. Staying within your package data allowance is a must, as these extra data charges will seriously dent your bank balance.
Mobile phone charges
Consumer magazine Which? calculates that 12 million UK consumers could save £63 a year by having a better mobile phone contract that suited their needs.
Shockingly, Billmonitor reported in 2017 that mobile phone networks overcharged UK businesses and consumers by over £7 billion!
So when you’re coming to the end of your mobile phone contract, it definitely pays to discover whether how much you could save by switching to a deal more suited to your data usage, call and texts pattern.
Using a water meter can help households monitor their usage and thus see how much they are using or wasting.
Water meters may not save you money than traditional style water rates, yet water meters can be beneficial when water is not used during the day. The Money Advice Service reports that switching could save households around £100 per year.
Whether households have a meter or not, reducing water usage is beneficial. Again, the Energy Saving Trust’s site provides plenty of tips like turning off the tap whilst brushing your teeth, taking showers instead of baths and only using the washing machine with a full load.
Car fuel and insurance
With ever-rising fuel costs, it pays dividends to plan when filling up. Search for the lowest fuel prices around you by using a fuel-saving service called Petrolprices.com.
The government-run Money Advice Service predicts that saving just 5p a litre on the cost of diesel or petrol could save the ordinary driver £100 a year.
According to the AA, changing how your drive can also help you save fuel and money. The AA calculated that the average driver could save 10% more fuel in their petrol tank if they didn’t accelerate so fast, avoiding unnecessary breaking or changing a gear up a little earlier.
Concerning car insurance, consider paying for your premium in one large chunk (if you can afford it) can save more than monthly payments. Also, always use a comparison website like Confused.com to determine the most affordable option to meet your requirements.
Furthermore, choosing a comprehensive policy can also be cheaper than a lower-level of protection like third party, fire and theft, and subsequently offers better coverage regardless.
This is because some insurers associate third party policies with high-risk drivers looking for the cheapest possible cover, resulting in charging more for a lower level of coverage.
With a few simple tips involving assessing better household cost contracts or altering the way you drive, can shave hundreds of pounds of your annual household costs.
Yes, summer is just around the corner, but before we know it, it’ll be winter again – leading to an increase household utility bills.
Rather than wait, take the necessary steps to review contracts, usage and insurance to help cushion the impact when price rises inevitably occur in 2020.
How have you been able to save on household utility bills?