How To Save Money On Household Bills

Despite the cost of household bills continuing to rise across the UK, cutting costs is easier than you think. And the average household can save hundreds of pounds each year by following these tips:

Reducing your phone & broadband bill

There are so many suppliers out there which makes it easier to cut your monthly phone and broadband bills.

Start by following these tips:

• call your supplier and explain you are looking to leave, and can they offer you a better deal?
• use price comparison websites to see what better deals there are.
• check your contract against your usage - for instance, if you use a lot of data and are charged extra when you go over, a deal with more data might be cheaper.

Budget

Knowing exactly where your money is being spent, and how much you’ve got coming in is crucial when it comes to budgeting. Use online budget calculators like Natwest which can be found here, or phone apps such as Fudget which can be found here.

Cutting the cost of your water bill

The average yearly water bill is close to £400, according to Water UK and whilst you can’t switch water supplier, there are ways to save money on these bills.

Think about:

• having a free water meter installed
• taking fewer baths and switch to showers
• switching to a more efficient shower head.

Cheaper gas and electricity

Energy prices are currently at an all-time high with many people looking to find a cheaper deal, however, it’s likely your supplier’s standard default tariff rate set at the energy price cap by regulator OFGEM will be the cheapest rate available.??

If you’re currently on a fixed-rate tariff, you’ll be moved to your provider’s standard variable tariff when the fixed term ends. At the moment there are no new fixed-rate energy tariffs cheaper than the energy price cap.??

Although switching energy companies is unlikely to save you any money, there are a number of schemes you can apply to that could help you cut bills.  

The Warm Home Discount scheme offers low-income households a £150 discount to help with energy bills. The scheme opens for applications between October and March each year, you’ll need to apply directly to your energy supplier - learn more here. 

In February 2022 the government announced extra help towards rising bills, including a £150 Council Tax rebate for eligible households and £200 towards energy bills in England, Scotland and Wales.  

Are you paying too much Council Tax?

Checking you are paying the correct Council Tax band takes 10 mintues and could save you hundreds. Check here for more information.

Transport Costs 

Whether you drive, or use public transport, travel costs probably make up a lot of your monthly spend.

There are ways to cut you transport costs by:

• finding cheaper car insurance
• buying cheaper fuel
• booking train tickets in advance.

Pay your bills on time

Late payment fees can wipe out savings, so it’s important to make sure you pay your bills on time.

Keep on top of your bills by:

• setting monthly by Direct Debit
• recording of payments and plan ahead
• talking to people you owe money to if you are struggling

Are you thinking of selling?

HS Homes of Solihull is a small independent estate agent based in Shirley, Solihull. If you are interested to know what your home is worth, call us on 0121 430 4448. Alternatively, click here to book a free market appraisal.