How to save money on your bills

Managing your bills can be a challenge, especially with rising costs. However, there are tactics you can implement to reduce these costs and ensure there’s still cash left in your pocket at the end of the month. So, if you’ve been wondering how to save money on bills, let’s dive straight into it.

How to save on energy bills

There are various things you can do to reduce energy consumption around the home, and here are a few of the most common:

1. Ensure your home is properly insulated

Draughts typically come from gaps in wooden floorboards as well as open fireplaces. But there are plenty of DIY hacks when it comes to reducing heat loss, for instance wrapping insulation around your pipes, or fitting draught excluders to doors and windows.

Professional draught-proofing can save you around £70 yearly, so it’s definitely something to bear in mind (although this will inevitably entail a larger cost than doing it yourself).

2. Opt for LED lighting

If you’re wondering how to save on electric bills, LED lights have been found to use 75% less energy than traditional bulbs. So, it might be worth swapping out some of your older bulbs for more efficient ones.

Or, if you’re wondering how to save more money on electricity bills, perhaps minimise artificial lighting where you can and allow natural light to flood in?

3. Unplug your appliances

Next up, remember to switch off and unplug any appliances when they are not in use. And don’t forget to switch off any lights as you leave the room too!

While it can be handy to have your TV light up at the simple click of a button, leaving your appliances on standby means they are eating up energy (and costing you money unnecessarily).

4. Wash at lower temperatures

When you wash your clothes, 90% of the energy usage comes from heating up the water. So, if you can wash at a cooler temperature (perhaps 30 degrees) you’ll save both money and energy. Another tip is to set your appliances to the eco setting, as this is more energy efficient.

And, when it comes to drying your clothes, avoid using a tumble dryer where possible. Simply hang your clothes outside if it’s sunny, or opt for drying racks inside. A simple switch such as this can save you around £45 yearly!

Government help to reduce energy bills

It’s also important to bear in mind that there are schemes available to help cut costs. For instance:

• The Warm Home Discount: this is a scheme offered to low-income households whereby a £150 discount is applied to help with energy bills. If eligible, you can usually apply directly with your supplier.

• The Winter Fuel Payment: At State Pension age, you might be entitled to extra help if you’re struggling with your payments. This payment is usually between £100-£300.

How to save on water bills

In the UK, the average yearly water bill amounts to around £450. And while you can’t switch water suppliers, there are multiple things you can do to cut back costs

1. Check for leaks

Leaks aren’t always obvious, but dripping taps and leaking pipes can rack up water bills significantly. So, if you notice any issues, call a plumber and make sure they are tended to as soon as possible. You definitely don’t want to end up paying for water you’re not even using!

2. Opt for water-efficient appliances

Look for high water efficiency ratings on appliances such as dishwashers and washing machines. A cost-effective upgrade can massively reduce water consumption (and help you save money in the long term).

3. Consider low-flow fixtures

Low-flow shower heads or sink taps have been proven to help reduce household water wastage. Traditional fixtures can use excessive amounts of water unnecessarily, whereas water-efficient fittings reduce this and help you save in the long run.

4. Take shorter showers

It’s well known that filling up your tub can be costly, and that taking a shower instead of a bath is the cheaper option. (A bath uses over 50 gallons of water, while a shower uses just 10-25). Also, taking shorter showers is another way to save water and cash!

How to save on phone and broadband bills

People spend a fair bit of money on their monthly phone and broadband bills. So, here are some insights on how you can save on yours:

1. Check your monthly data usage

When it comes to your phone costs, it’s a good idea to see whether you’re overpaying for unused data. If you find that you are, you can then alter your plan to better suit your needs.

You should also check your usage when it comes to your broadband. For instance, do you have certain subscriptions you’re paying extra for that you no longer require? If so, remove them from your plan and cut costs.

2. Use your powers of persuasion

When it comes to your mobile phone bill, it can’t hurt to try and negotiate a better deal. If you’ve been a loyal customer for a while, the provider should be motivated to keep you on board, so it can’t hurt to ask. Just shortly, we’ll delve into some top tips for negotiating better rates.

3. Shop around

When you’ve been with a broadband provider for a while, your introductory offers will most likely have ended. If so, it might be time to compare a range of broadband deals and switch.

And, bundling together internet, mobile, and TV packages from one provider can sometimes lead to discounts, so bear this in mind too.

Top tips on negotiating better rates

Negotiating better rates on your bills can save you a significant amount in the long run. So, we’ve gathered some top tips to help you:

• Do your research: before you start negotiating, make sure you’ve compared different providers and that you understand the typical rates. Based on this, have a ballpark figure in mind.

• Come prepared: First, you’ll want to make sure you understand your own usage patterns. Also have details of your current plan to hand as well as how long you’ve been a customer.

• Be persistent but patient: It’s important to be persistent but also remain patient. For instance, if the call handler claims they aren’t authorised to lower your bill, politely ask to speak to somebody who is.

Saving on your bills requires a combination of effective planning, patience, and dedication. But, by bearing the above tips in mind, you’re bound to be able to cut costs and put your money to use elsewhere.

Before you go, make sure to head over to the Moneyboat blog where you’ll find plenty more handy insights. For instance, why not check out our guide: how much can I save in a year? Or delve into our effective monthly budgeting tips.