With the rising cost of living and an increasing number of things to buy each month, saving can be hard. However, it is essential to have some money saved up for a rainy day. You don’t have to deposit large chunks into the savings account; any positive balance is a good start. Whether you are saving for retirement or just a small luxury purchase, these simple tips will put you on the right track.
Sometimes when people look to make savings on their energy bills they immediately jump to drastic measures. However, there are some very simple steps you can take that add up to noticeable savings over the course of a year. Here are 5 easy ways to save money on your energy bills:
Only Use What You Need, When You Need It
It’s important to monitor your energy use and, where possible, look to cut down and reduce use of gas and electricity. There are numerous ways to do this, for example you can try to use the washing line more and cut down on use of the tumble dryer. If the weather is good then you can air dry clothes outdoors, but there are also a lot of convenient indoor solutions too.
You should only use the heating when you absolutely need it, and if you’re home alone then only heat the room you are currently in. Be sure to use heating timing and even consider getting a smart energy meter to help monitor your usage. These meters give you essential feedback on where you are spending the most energy.
With some models you can even remotely control the heating if you have forgotten to turn it off or need to change a progam. However, check in advance because some providers charge a subscription fee for the app, which actually outweighs your energy savings.
Efficiency of your electrical goods is key to reducing energy usage (and therefore reducing household costs). When shopping for a new washing machine there are so many things to consider and it’s easy to look for the best deals on the price of a machine.
However, what is often overlooked on what is the best deal to save you money is the running costs of these machines as well. Every washing machine has an energy efficiency rating from G up to A with A being the most efficient and so will cost the least to run. If the store doesn’t have these energy efficiency ratings to hand you can easily look them up on the manufacturer’s website.
The same thing applies to all of your main utilities – a power hungry refrigerator or freezer could be a black hole in your bills and you don’t even know it!
When trying to cut expenditure, you need to figure out the amount you spend monthly on your energy bills. With knowledge on how much you spend you can decide on the payments to cut down. Make a budget for recurring energy costs and reduce unnecessary costs where possible.
For instance, you can find a better deal for your energy and save on gas, water and electricity. You will be surprised at how much you can actually save from this one very simple exercise.
Switching your provider (or at least comparing costs) every time your contract comes up for renewal is a must. Otherwise you’re often flipped onto a higher tariff and pay more without even knowing it.
One way that you can literally be losing energy (and money) is by heat loss from a poorly insulated home, it has been reported that poor home insulation costs the United Kingdom roughly 2.3 billion per year, a staggering amount.
There is a reasonable upfront cost to upgrading home insulation. But over a few short years this will pay for itself, and you will be in credit with the savings you are making from that point onwards.
Another way of making a cost saving on your home energy bills is to use renewable energy on your home, the most common is to install solar panels on your roof. This not only provides free power to your home but if you generate more in peak energy periods you can sell excess power back to the grid.
Again like with point number four, installing solar panels is a costly (but still simple) way to save money. Check with suppliers as often they have a 0% finance package available which allows you to offset the large lump sum cost.