HOUSEHOLDS are suffering a cost of living crisis that’s leaving them pinching their pockets tighter than ever before.
For many it’s getting more expensive to keep the lights on – and the most-hard up are having to make the decision between heating and eating too.
1
On top of that, food costs are soaring, and tax increases are on the way.
But energy bills alone are set to rocket by £693 in just over a months time, when the new energy price cap comes into effect on April 1.
That means households could be paying up to £1,971 a year to heat their homes and more.
The blow isn’t being softened anytime soon either as energy bills could get worse and shoot up to £3,000 while the Russia and Ukraine crisis threatens the UK’s supply of fuel.
But Kevin Pratt, personal finance expert at Forbes Advisor has revealed 11 ways you can try to slash the costs.
The simple switches he suggests could save you as much as £1,205 if you put them all into practice.
Most read in Money
Here’s what you’ll need to do in your home:
Switch off standby – and save £30 a year
Electronics plugged into the outlets throughout your home could be contributing to your high bills – even if you thought they were “off”.
But remembering to fully unplug them so they’re not left on standby mode could save households around £30 each year.
If you turn off the appliance at the plug you’ll stop the constant flow of electricity which is what might be draining your bills.
Kevin said: “You could even consider using a ‘standby saver’ that turns all devices off in one go.
“You’ll also save electricity by not leaving laptops and mobile phones charging unnecessarily and by unplugging charger cables when they are not in use.”
Turn lights off – and save £14 a year
Switching off shouldn’t just stop at the plug sockets either – make sure to turn lights off around the home when they are not in use to save more.
The Energy Saving Trust says that switching off a light for just a few seconds will save more energy than it takes for the light to start up again, no matter what type of light it is.
In terms of savings you could slash around £14 a year off your bills.
Switch to LEDs – and save £35 a year
If you don’t want to plunge your home into darkness though, investing in a cheaper lighting solution might be the answer.
Using LED spotlights or compact fluorescent lamps can reduce the amount you spend on energy just as well as turning the lights off altogether.
These types of lights use far less electricity than standard bulbs explains Kevin.
“LEDs are now bright enough to replace halogen bulbs and they come in a wide range of shapes, sizes and fittings,” he said.
“Replacing all the bulbs in your home with LEDs would cost around £100 but it would also save you around £35 a year.”
Use kitchen appliances more carefully – and save £36 a year
Turning off things like your toaster or kettle at the wall will help, but you need to use the appliances thoughtfully when they are on to save more money too.
For example, you could reduce how much you use your washing machine by just one cycle a week, and save £5 a year.
You also might want to think about using a bowl to wash up rather than leaving the tap running – and you could save £25 a year.
Plus filling the kettle with only the amount of water you need can save another £6 a year.
Make all the efforts in your kitchen and that could be £36 each year in total that you save.
Turn down the thermostat – and save £80 a year
Simply turning down your thermostat by one degree can reduce heating bills by £80 a year.
It can also be worth investing in a smart thermostat so that only the rooms you are using are heated.
Smart thermostats learn how long it takes for your home to warm up so that the heating comes on at the right time and you can often set different temperatures for different rooms.
You can usually operate smart thermostats remotely via your mobile phone, tablet or laptop so you can alter your heating on the go – which can be handy if you’ve left home but forgotten to turn off the heating.
It even pays to be smart about where you place the thermostat.
That’s because if it detects colder temperatures because it’s near a window or in a draughty hall it could throw off your readings and use more energy than needed.
Spend less time in the shower – and save £76 a year
You shouldn’t ignore your hot water when it comes to reducing your bills either.
Reducing the amount of time you spend in the shower by just one minute every day can slice up to £7 off your annual energy bill, per person says Kevin.
If you have a water meter, you could save an additional £12 on your water and sewerage bills each year too.
Kevin said: “So for a family of four, you’re looking at a potential annual saving of £76 in total by spending less time in the shower.”
It could be even more than that as one Martin Lewis fan managed to make a saving of £360 a year by using a meter to pay his water bills.
Switching to the water meter meant they only had to pay for what they used rather than a fixed rate – which was a lot cheaper than what they might have been estimated otherwise.
Replace your shower head – and save £70 a year
While you’re in the shower, looking for ways to lower the costs, you could think about replacing your shower head too.
According to the Energy Saving Trust, switching to a water efficient shower head will reduce your hot water usage and save you a decent sum of money.
It means you won’t be using as much water while you’re trying to get clean, which means there’s less been wasted out of the tank – which has already been working hard and using a lot of energy to heat up.
Kevin said: “A four-person household could save as much as £70 a year on gas for water heating, as well as a further £115 a year on water bills if you have a water meter.”
Switch to energy-efficient appliances – and save £275 a year
If you are going to splash out on a new appliance, maybe because your old one has broken down or stopped working as well, it’s always best to invest in an energy-efficient one.
Fridges, dishwashers, washing machines or tumble dryers with a high energy efficiency rating will save you money in the long run.
The highest and most efficient rating is A+++, while the lowest is G.
These ratings are based on the amount of energy each appliance uses, so the higher the rating, the fewer units of energy it uses.
Which? says that swapping “power-guzzling” kitchen appliances for more efficient ones could save you up to £275 a year.
Replace your boiler – and save £315 a year
Another drastic measure could be replacing your boiler.
If your boiler is more than 15 years old, it might not be as energy efficient.
All modern boilers are condensing boilers which means they have a larger heat exchanger and make better use of the heat they generate from burning fuels such as oil or gas.
But if you’re thinking of making the switch you will have to factor in the upfront costs of doing away with the old.
The Energy Saving Trust says replacing a G-rated gas boiler with an A-rated one, plus installing thermostatic radiator valves, typically costs around £2,300.
It could save you up to £315 a year though – but you’d have to wait around seven years to earn back your money in the savings.
Insulate your walls and loft – and save £255 a year
As much as 20% of your home’s heat escapes in the winter season so it’s almost like you’re throwing money out the window with every unsealed crack and gap.
A quarter of that heat is lost through just the roof – especially if there’s no insulation to stop it.
In an uninsulated home and about a third is lost through the walls too.
There can be upfront costs to consider though – loft insulation can costs as much as £300 to install according to the Renewable Energy hub, for example.
Kevin said: “It’s worth considering whether you’re happy to spend a few hundred pounds getting a professional in to fully insulate your property.
“Insulating your loft could save you up to £225 a year, depending on the property, while cavity wall insulation could save you up to £255 a year.”
Thousands of low income households could save that same figure with new government scheme that pays for their insulation costs too.
Plug up draughts – and save £20 a year
Hundreds of thousands of people overpay by as much as £246 on heating bills due to poor insulation alone.
But reducing how much heat escapes from your home is an easy way to save money on your energy bills.
Kevin said: “Consider putting draught-proofing strips around window frames and sealing cracks in floors and skirting boards. This could save you £20 each year.”
There are crafty ways you can stop the cold air getting in too, from clingfilm to taping back the curtains.
Homes with a chimney could save another £15 a year by installing a chimney draught excluder which stops the draught floating in while it’s not in use.
How can I make my money go further?
You can benefit from schemes that are designed to help with your bills too.
That way your money can go further if you’re not as pressured to pay off the steep energy costs.
The Warm Home Discount Scheme is a one-off payment that goes towards your heating costs – and it’s worth £150.
While one-off winter fuel payments from the government of between £100 and £300 are given to pensioners.
Plus, all energy customers will get a £200 discount on their energy bill from October under new plans announced by the Chancellor.
But they will need to be repaid in £40 instalments from April next year.
That’s in the hope that prices will have dropped by then as the repayment period follows over five years, from 2023.
We pay for your stories!
Do you have a story for The Sun Online Money team?
