On ‘Terrible Tuesday’ in ‘Awful April’ a range of essential bills are set to increase in several ways putting more pressure on household finances. How can you reduce household bills and save money on water, energy, insurance, council tax, broadband, mobile phone bills and groceries? In this post I share 21 easy ways to reduce household bills and save money.
Image by Firmbee from Pixabay
How to save money on your mortgage
For most households, the mortgage is the single biggest monthly bill, which means even small savings can make a huge difference. Speaking to a mortgage broker can help you compare lenders, switch to a better deal, or refinance to lower your repayments. Brokers often have access to options you might not find on your own, and a lower interest rate could save you thousands over the life of the loan.
How to save money on energy bills
You can’t make real changes to your energy usage to save money unless you know how much your electrical appliances cost to run. This handy guide from Centre of Sustainable Energy shows what it costs to run a wide range of household appliances. Consider the most cost effective options for cooking and doing laundry. The Citizens Advice website also has an online calculator for working out usage costs for a range of household appliances.
You can also save money by making just a few changes to your daily routine. These include running your washing machine at 30 degrees, avoid using the tumble dryer, reducing shower times to 4 mins, cutting out one bath time a week, filling the kettle with just the amount of water you need, switching off lights when leaving rooms and using the dishwasher less. Find out more at Energy Saving Trust.
Use smart appliances in your home. Examples include smart meters, thermostats and plugs.
Switch off vampire devices which drain power when on standby or when not in use. Don’t leave chargers plugged to your devices when they are not in use. Look in to purchasing energy efficient appliances if you are getting any replacements.
How to save money on water bills
Switching water providers isn’t an option, but a water meter could help you save money. If your home has more bedrooms than occupants, it’s worth using the Consumer Council for Water’s calculator to see if a meter could reduce your bill.
Do some DIY and household maintenance. Replace any leaky taps or worn washers on taps as leaks can waste a lot of water which can lead to more expensive bills. Check also for any visible signs of leaks around your property and advise your supplier for advice if you spot any damp patches inside or green patches on the exterior of your home.
Many water companies offer free or discounted water saving devices. Sign up to Get Water Fit to find out how and where you use water in your home and discover easy ways to make savings.
How to save money on your weekly shop
Simple changes can significantly impact your grocery bill. Use price comparison sites like trolley.co.uk to find the best prices or the Google shopping search tab.
Shop on a ‘need-to-buy’ rather than weekly basis. Plan meals, create a list, and stick to it. Put five items back before checkout to focus on essentials. Do a stock take of your larder and see how may meals can be made from existing supplies. You can also trial retailer own-brand products instead of premium brands as savings made can be really significant. Another way to reduce weekly shop costs is to grow your on fruit and veg! You can use First Tunnel’s Growing Guides to help you with this.
List surplus food for local collection on sites such as olio.co.uk instead of throwing it away. The No Waste app can also help you track, organize, and manage your food, plan meals, create shopping lists, reduce waste and save money.
How to save money on insurance
Do your research well. Take the time to weigh up the best policies for you on comparison sites. If you then wish to still stay with your current provider, then go back and try to barter with them to see if they will price match or at least get closer to other quotations you have received.
Check the small print for details of exactly what you are covered for. Examine your insurance certificate carefully when received to check everything has been included.
Avoid misguided loyalty. Use comparison sites to find the best deal. Even if your premium has gone down or stayed the same this year (which bizarrely in some cases is happening) it’s worth checking if you can get an even better lower rate from shopping around.
How to save money on council tax
Check eligibility for discounts. If you are the only person in your home, you are eligible for a 25% single person discount. You can also get up to 50% discount if everyone in your household is disregarded i.e. exempt from paying council tax such as children under 18, full time students, live in carers or people with severe mental impairments. If you’re on a low income and receiving certain benefits you can apply for Council Tax Reduction.
Alternatively if think you are in the wrong tax band you can request a reassessment from The Valuation Office Agency (in England and Wales) or the Scottish Assessors Association (in Scotland). Be aware that when you apply for a review the property could be moved into a lower band, a higher band or left where it is, so ensure you have ample evidence to support any request.
How to save money on broadband and mobile phones
Review your current plan. Check your bill to see what your actual usage, particularly how much data. Downgrade to a cheaper plan if you’re paying for what you don’t use. Contact your provider to what promotions or discounts are available. Consider switching to an MVNO (Mobile Virtual Network Operator) such as Smarty or Talk mobile. These use the same networks as major carriers but at lower prices.
Use Wi-Fi for calls and data. If you are on a contract with a fixed number of free calling minutes, use Wi-Fi calling. Try to stick to Wi-Fi both at home and work to reduce mobile data usage. Consider using apps like WhatsApp or Skype to make calls and send texts over Wi-Fi for free. Cut out unnecessary paid extras such as ringtones, voicemail transcription, or premium features.
Monitor and reduce data usage and data limits or alerts on your phone to avoid overage fees.
Buy your phone outright and opt for a SIM only plan which cost far less than a contract plan. Pay as you go could also be more cost effective depending on how much you use your phone. Alternatively look in to Family or Group Plans.
Haggle with your broadband provider to see if you can get a better rate. If you don’t ask you definitely won’t get. Choose the option for ‘thinking of leaving us’ to be connected to the customer retentions department who will be empowered to offer you the best plans and discounts.
Know your rights. New rules introduced by the telecoms regulator this year require mobile and broadband providers to clearly inform customers, “in pounds and pence,” about any price increases and when they will take effect.
Image by kp yamu Jayanath from Pixabay
These top tips are just a starting point—small changes can lead to significant savings over time. What other money-saving ideas would you add to this list?
