In this cost of living crisis, prices have risen the most on the things we need the most, like food and energy. Unsurprisingly, household budgets are feeling the strain.
But what if there was a way to save money on these essential items? And what if you could get discounts on your household bills just by going shopping?
Struggling to cover your rising utility bills?
Before we get to that, let’s focus on what you can do in the home to cut – and pay – your bills. Whether it’s for your energy, your broadband or your mobile phone, if you’re having difficulty paying your bill, the first thing to do is to talk to your supplier. They are duty-bound to try to help you. This may involve setting up a payment plan, or moving you to a cheaper tariff.
Second, check if you’re eligible for any of the Government support schemes. You can find out more about them here. It’s worth noting that one of them, the Energy Bills Support Scheme (EBS) – which provided a £400 discount on all domestic energy bills – ended in March.
Your third option is to improve the energy efficiency of your home. Just getting a new boiler installed could reduce your fuel bills by up to 30%, according to Unbiased.
Fourth, reduce your usage. But first, make sure your bills are accurate. Otherwise you could end up paying more than you should. So take regular meter readings and use a smart meter if you can.
Here’s five of the easiest and best ways to cut your usage:
1. Turn down your thermostat. A drop of just one degree could reduce your bill by an average of £115 per year, says British Gas. With half your bill being due hot water and heating, it’s perhaps no surprise this little change can lead to big savings.
- Get energy-saving light bulbs. Keep the lights on by changing your traditional bulbs to these, and cut this part of your bill by over three quarters.
- Turn off your devices. Beware vampire appliances! Instead of putting your devices on standby, turn them off completely and unplug them, and you could save up to £65 a year, according to the Energy Saving Trust.
- If you’re buying, go 5 star. If you can afford to splash out a little more on that new washing machine, or that new fridge, it’ll be worth it. These ratings mean they guzzle less juice – which means they’ll more than pay off the difference in cost over their lifetime. So buy the smallest size you need, with the highest efficiency rating, at the lowest price.
- Take shorter showers. Cutting your bathing time from eight to four minutes could save you over £125 per year, says Yorkshire Water.
And of course, having a smart meter will let you keep track of your spending, so you can find out for yourself – and be more targeted with your usage, and your savings.
Start saving on your utility bills today
Another option is to switch to a supplier that offers discounts not just on energy, but all your utilities. Utility Warehouse (also known as UW for short) offers services for broadband, mobile phone and insurance. And the more services you switch with them, the more you save.
But it doesn’t stop there. The company also offers the UW Cashback Card, which gives you cashback when you spend at select retailers – including Sainsbury, Argos and Boots – of up to 10%. It’ll also give you 1% cashback on (almost) everything else. The savings are taken off your monthly bill. So you can save a bundle by turning your shopping for life’s essentials into savings. UW says that the average cashback cardholder who has switched their energy, broadband, mobile and home insurance services to them saves £419 a year.
