Let’s talk about money saving tips

We’ve compiled a list of money saving tips to help keep costs down as we approach the winter period. No matter what financial position you are in, these tips should help you save some extra money!

Ways to keep your energy bill down:

• Don’t leave your mobile phone in direct sunlight. This will cause your battery to deplete faster than usual.
• Regularly defrost your freezer as the more they ice up the more energy they will use. Make sure your freezer is filled up as the cold air does not need to circulate as much meaning less power is required. If you have free space in your freezer, you could fill plastic water bottles half full to fill the gaps. (Please note filling the entire water bottle can lead to the water bottle exploding causing a mess in your freezer).
• Wash larger quantities of clothes fewer times, using a cooler setting. This could potentially save you £27 per year for modern machines but could be much more with older models.
• Avoid using the tumble dryer as this could potentially save you £166 a year if you never use it.
• Carefully choose electrical products, being wary not to pruchase those with high energy ratings. If you have an 8K television or gaming console, make sure this is switched off by the mains when not being used. A Uswitch survey of British households found that 42% of people leave the TV on for nearly five hours a week for a pet.
• By turning down the heating flow temperature on a combi boiler, you could potentially see a 6% to 8% reduction on your gas bill. This will allow the boiler to run more efficiently and could save around £200 off an average energy bill.
• Contrary to popular belief, completely turning off your boiler, fridge or freezer will not save you energy in the long run. These devices regulate the desired temperature and will use more energy by being switched on and off for short periods of time. Please be aware it is a health safety issue if food partially defrosts before it is prepared for eating.

What you can do in your day-to-day life:

• Try to have a ‘no spend’ weekend per month. By consciously trying to not spend any money, it can make you more aware about how costs can add up and save you some money by doing so!
• Try to cut out one treat per week. Not buying a coffee or other little items you may regularly purchase can help save money.
• Utilise free activities! Take advantage of the nature surrounding us by going for walks and visiting free museums.
• Take advantage of online discount checkers. Services such as Topcashback and Quidco scan the web for any deals currently running.
• Sign up to the mailing list of brands you like to obtain promotional offers.
• Review your Direct Debits to see if you have any unnecessary subscriptions which you could cancel.
• Only pay for one streaming service at a time. Choosing between a service like Netlfix or Disney+ ensures you are making the most out of your money. Once you have watched everything you wanted from that streaming service, cancel it, and then move on to the next.
• Stop potentially expensive habits such as smoking/vaping. It costs £4,841.20 on average per year (based on the average price per packet of 20 cigarettes with an individual smoking one packet a day).
• Buy second-hand clothes. Not only is this better for your bank account but it also is better for the environment too!

Click here to download our budget planner to better understand your finances.

Written by,

Benjamin Kirkman

Marketing Officer