Tag: utility bills

4 easy ways to cut down on your energy bills

4 easy ways to cut down on your energy billscredit

Do you know that energy consumption accounts for a large chunk of your monthly household expenses? According to the U.S. Energy Information Administration (EIA), the average monthly electricity bill is $115-$1380 per year. Of course, your energy bills might be higher or lower depending on where you live, size of your home and the number of appliances and devices that you use.

Illustration of a person switching off an air conditioner

Turn off your HVAC unit

There’s no need to leave your heating or air conditioning unit on when you’re not at home or no one is in specific rooms. For example, if you live in a 2-bed flat, only turn on the cooling or heating in areas of the home that are occupied.

It’s wasteful to turn it on in rooms that no one’s in just because you want to keep the room warm or cool. Most HVAC units are so efficient they’ll cool or warm a room within 3-5 minutes of turning them on, so the space will be comfortable within minutes.

Illustration of a thermostat

Use your thermostat optimally

Did you know that you can save up to 10 percent of your heating and cooling costs if you optimised your thermostat?

The Department of Energy states that setting your thermostat at 78ºF in the summer and 68ºF in the winter will provide the highest energy efficiency, and reduce your energy costs. Therefore, even if you or your housemates aren’t accustomed to this temperature, consider trying this in your home.

Community solar energy

Switch to community solar

If you choose solar energy as an alternative means of energy for your home, you could save a lot of money in the future. However, most people struggle with the initial upfront costs associated with solar panel installations.

This is where community solar providers come in. These providers offer a way for consumers to enjoy the same electricity without any downtime for a guaranteed 10% savings. Community solar works in the same manner as your energy provider.

The only difference is instead of other sources of energy, the utility company gets its power from solar farms and then transmits the power to you. All you have to do is fill out a form and you’ll automatically get a 10 percent discount on your average monthly bill.

Joining a community solar initiative not only saves you money, but also helps the country and county cut down on carbon emissions so climate change can be stalled and, hopefully, reversed.

Illustration of an unplugedg lightbulb

Unplug devices and appliances

It doesn’t matter if your appliances or devices are turned off. As long as they’re plugged into the power socket, they’ll still consume electricity. This is why you should consider actually unplugging all your devices when they’re not in use.

This way, they won’t keep consuming electricity when they’re not actually in use. Most people aren’t aware that their devices still consume power. These ‘leakages’ contribute to your energy consumption, resulting in higher energy bills.

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Becoming more energy efficient this winter

Becoming more energy efficient this winter | H is for Home

The average UK home is spending almost £1,254 a year on energy bills, according to recent Ofcom figures. With this in mind, it is more important than ever to learn how to become more energy efficient.

As the world becomes increasingly conscious about the effects we have on the environment, learning how to use your home energy more efficiently is a great way to reduce CO2 emissions. For those keen to drive down the price of their energy bills and cut carbon this winter, adopting a few easy-to-follow steps could result in significant savings. LPG provider, Flogas, offer some practical advice on how to become more energy efficient this winter.

Open window

Draughts: how to deal with them

Energy wastage can be caused by many things, including draughty floors, windows and doors. Although they might seem small, gaps and cracks have the potential to let out a large amount of heat, while allowing cold air in – impacting on your bills unnecessarily. One way to tackle this is by installing draught excluders on your doors and windows. Even keyholes and cat flaps can make a huge difference, so try to keep them covered where you can. Alternatively, sealants, insulating strips and even rolled up newspaper can go a long way to ensuring heat stays in your home. Finally, double-glazing is extremely effective at keeping your home well insulated. Whilst installation can be costly, it’s a definite way to save on heating bills.

Thermostatcredit

Be smart with your heating

Luckily, new technological advancements are helping us meet our target of reducing our energy bills. Devices such as smart thermostats can go a long way to reducing heating bills by allowing greater control. As well as giving you the option to heat specific rooms, smart thermostats have the capabilities to learn your home heating habits – allowing you to consistently maintain the right temperature at the right time of day. Latest innovations, such as handy apps, have been designed to make smart technology even more convenient. If used correctly, it’s estimated that they could save households around £150 a year.[1]

Energy efficient fridge

Efficient appliance worth investing in

When you go to replace your household appliances, be sure to look for the long-term most energy efficient appliances . Whilst it may cost more initially, the long-term pay-off will help reduce your bills. Look out for products that score an A+ and above. An A+++ fridge for example, could save you around £190 over ten tears when compared to an A+ model. [2]

Power buttons off and on

Don’t just leave things on stand-by mode

It is a common habit to just leave household appliances on standby mode, however turning them off completely is far better for energy efficiency. TVs, laptops and mobile phone chargers are still switched on even when they’re on standby, which means they’re using energy unnecessarily. According to the Energy Saving Trust, you could save around £30 a year just by switching off appliances properly, whilst households with more gadgets could save between £50 and £80.[3]

Warm family in a house

Be sure to insulate your home

By using the correct insulation, a large sum of money could be saved on heating your home. In fact, it’s estimated that a quarter of all heat from your home could be lost through your roof if proper insulation isn’t in place.[4] Insulation grants are offered as part of the Government’s Energy Company Obligation Scheme, so insulating your home could be easier than you think. Alternatively, smaller ‘quick fixes’ can also help – foam tubes that cover your pipes can keep your water warmer for longer and cost just a few pounds. You can also use a ‘lagging jacket’ which fits over your boiler and helps retain heat. At around £10, they’re a cost-effective way to prevent you from using extra energy to reheat water.

Washing machine

Turn down the temperature slightly

A simple way to save money on bills is to turn down the temperature you wash your clothes at. Simply turning the temperature down from 40 to 30 degrees can be up to a third cheaper. Over the space of the year it could add up to a saving of £52.[5] An occasional ‘hot’ wash is still a good idea though as it helps to ensure the washing machine is kept clean.

Compare rates onlinecredit

Energy cost comparisons

Hundreds of pounds could be saved by switching energy providers, considering utility bills take up a huge sum of household expenditure, this is highly worth looking in to. Remember, it’s not just the ‘Big Six’ that offer competitive deals, switching to a smaller energy supplier could also mean a reduction in bills. It’s estimated that 62% of bill payers didn’t switch last year, so don’t miss out on a cheaper tariff.[6]

Red LPG gass bottle

For those living in rural areas

It’s essential that if you live in a remote area off the mains gas grid, you attempt to keep bills as low as can be. This can be done by switching from more traditional off-grid fuels like oil to a cleaner, greener alternative, such as LPG (liquefied petroleum gas). As well as the LPG price potentially being lower, it also has the lowest carbon footprint of any off-grid fossil fuel, LPG and the is better for the environment and it’s cost-effective.[7] Its abundance of supply also makes it reliable, so you never need to worry about running out.

[1] https://www.moneysupermarket.com/gas-and-electricity/energy-saving-tips/

[2] https://www.moneysupermarket.com/gas-and-electricity/energy-saving-tips/

[3] https://www.moneysupermarket.com/gas-and-electricity/energy-saving-tips/

[4] https://www.energysavingtrust.org.uk/home-insulation/roof-and-loft

[5] https://www.moneysupermarket.com/gas-and-electricity/energy-saving-tips/

[6] https://www.energysavingtrust.org.uk/home-insulation/roof-and-loft

[7] https://www.liquidgasuk.org/uploads/DOC5A5F2DC5A7907.pdf

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Don’t let your home cost you too much

Don’t let your home cost you too much | H is for Home

Most of us would say that the one place where we would want to feel the most comfortable and relaxed is our home. Our homes act as little sanctuaries away from the stress of modern life and everything that comes with it. However, it’s also pretty common for that stress to get into your home and disrupt your life as well. The most common way that this can happen is through the biggest source of stress in many of our lives: money. If your home is draining your finances then that not only breaks the spell of comfort that it’s supposed to create but it also can be a source of serious tension and anxiety in your life. With that in mind, here are some things that you can do to stop your home from costing too much.

Illustration of a house with leaves for a chimney

Use less energy

The most common and frustrating expense that a lot of us have to deal with in our homes is our energy bill. From gas to electricity to water, the utilities in your home are essential and that means that a lot of people feel like their bills are just something with which they have to deal. And sure, that is the case to a certain extent but that doesn’t mean you can’t bring your bills down. Simple things like turning lights off whenever you’re not in a room, not wasting hot water, and only using the heating in your home when you really need to are going to make a huge dent in your energy bills.

Many people are spending too much on their energy bills simply because there is some problem with their electric or gas supply. You might therefore be able to save some money by calling out some electricians to come and check over your electrics. You might find that they’re able to fix up something which helps you to save money in the long run. It’s definitely worth the call-out for lower prices in the long term.

Cartoon of a frowning man looking at a bill and scratching his head

Check the rates of your bills

Of course, sometimes the issue with the expenses in your home isn’t that you’re costing yourself too much, it’s that you’re being overcharged. It’s always a good idea to look around and see if you can find a better deal wherever possible. The same even goes for something like rent. If you’re really struggling, it may be worth talking to your landlord and trying to work something out.

Illustration of a plumber saluting wearing dungaries, tool belt and a hard hat

Hire the right people

Sometimes things are going to go wrong in your home. There really isn’t anything you can do to avoid this fact. However, by connecting with the right people you can make sure that when you hire someone to deal with a problem, you’re not going to get ripped off. A company like GBS Electrics is going to be able to help deal with electrical issues in your home without costing you an arm and a leg. The same goes for plumbers, carpenters or anyone else you might need to call.

Of course, the truth is that your home is always going to cost you money and there isn’t really anything you can do to change that fact. However, there are plenty of ways that you can make sure that you’re being more careful with your finances in general so that if you do have to spend money on your home, you’re not just going to end up in a position where you’re stuck with an empty bank account. Saving your money and avoiding luxury spending where you can are both incredibly simple things that can give you a fantastic financial safety net.

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Organising your financial paperwork

Organising your financial paperwork | H is for Home

You’ve no doubt heard your parents say, ‘not another bill!’ when the postman makes his morning delivery. At the moment, these documents probably won’t mean much to you if you still live at home, but it’s important to know about the different types of financial paperwork you could come into contact with in the future. If you don’t understand them, you won’t be able to incorporate them into your budget, and this is where money problems arise. So, let’s take a further look…

Woman calculating paper invoices

Understanding different documents

It’s important to know how to read the most important financial documents that you’ll receive. We’ve outlined some of the most common ones you may be sent below:

  • Utility bills – Utility bills include invoices for the likes of water, gas and electricity. More often than not, you’ll receive a bill at the start of the financial year, which will outline how much you owe for the year ahead. You then have the option to pay the amount upfront or you can separate it into equal monthly payments.
  • Loan statements – If you’ve taken out a mortgage to buy a home, you’ll need to make monthly payments. You can use a home loan calculator to figure out the sort of payments you could be looking at.
  • Direct debit statements – You’ll usually only receive one direct debit statement after it’s been set up. A direct debit is a regular payment. For example, you could set up a direct debit for your electricity bill, and thus ‘x’ amount will automatically be taken from your account every month on a particular day. Once you set this up, you’ll sometimes receive a statement outlining this agreement.
  • Bank statements – Nowadays, most bank statements are accessed online; however, you can choose to have paper statements posted to you. This will show you how much money you have left in the bank, as well as your recent transactions. Most people keep on top of this with online banking as opposed to waiting for a monthly statement. Nevertheless, you may need these statements in the future, if you apply for a mortgage or rental accommodation, for example.
  • Credit statements – You’ll receive a credit statement every month if you have a credit card or if you use some other type of credit. For example, you may have an account with a catalogue company that you pay off on a monthly basis. Your credit statement will tell you how much you owe, as well as the minimum amount you need to pay off and by when. Let’s say you owe £150, yet the minimum payment is only £5. You’re advised to pay off the full £150 by the date stated; otherwise, you’ll be charged interest on the remaining £145 if you opt for the minimum payment option.
  • Pay slips – If you’re employed, you’ll receive a payslip. You’ll get this every month, fortnight or week, depending on how often you’re paid. Your payslip will reveal how much you’ve received for that period, and it will also state any deductions. These are usually PAYE tax (income tax) and National Insurance. At the bottom, it will state the ‘net pay’, which is the amount of money you’ll take home.
  • Agreements – A Letter of Agreement is a document that confirms you’re ready to enter into an agreement with someone or something. For example, if you join a gym, you may have to sign one of these. This will state that you are going to pay ‘x’ amount for gym membership, and it will state how for long you agree to do so. This is where you need to be careful. If the agreement says the membership is 12 months long, without cancellation, it means you have to pay ‘x’ amount each month, for the full 12 months – even if you want to cancel early or can no longer afford it.

Pair of red box files

Organising your financial paperwork

If your paperwork starts to pile up, you should get yourself organised, otherwise you could end up missing a bill payment or something else important. Split your paperwork up into categories and have a folder for each. Categories can include the likes of: credit cards, contracts, bills due, bank accounts, car, employment, loans, insurance and utilities. Each file needs to have four sections: bills to be paid, to do, file and shred. This will help you to keep on top of everything while also making sure you don’t accidentally get rid of any important documents.

Paying invoice online using smart phone

Summary

‘Don’t understand it, bin it’ is the wrong approach! You never know what you could be throwing away, and overdue bills can lead to further charges, which is the last thing you want. Instead, handle every piece of financial paperwork with care and have a filing system in place to keep on top of everything.

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