Parenting Finance
How to cut your household bills
Find out how to save money on your household bills
Save your energy
The average household now spends over £1000 a year on energy bills, but you can save hundreds of pounds with very little effort.
Check out price comparison sites and swap to a better-value supplier. The golden rules for big savings are: use one supplier for both gas and electricity, pay by direct debit as most suppliers give a discount for this, and go for an online-managed account.
According to the Energy Saving Trust, you can save over £300 a year through a combination of simple measures like using energy-saving light bulbs and draught-proofing, to bigger changes such as replacing an old boiler with an efficient condenser boiler. Visit energysavingtrust.org.uk for a free home energy check and more information.
Make a splash
If you have more bedrooms than people in your home you could make substantial savings by having a water meter fitted. Your water company can install a meter for free and you may also qualify for WaterSure, assistance with your metered bill, if you claim tax credits or benefits. You’ll see a drop in your water and energy bills if you encourage the family to take quick showers rather than baths, and ensure that dishwashers and washing machines are fully loaded before turning them on.
Down to the wire
Having your telephone, digital TV and broadband services with one supplier could save you up to £500 a year. Visit a price comparison site to see what's on offer, taking into careful consideration the price, package and level of customer service.
If you want to make savings on just your landline phone bill, look for a provider with a lower line rental. For a better mobile phone deal, contact your supplier when your contract is about to end. Tell them you’re thinking of changing supplier and they may come up with a better offer.
Safe as houses
Review your home insurance policies and research alternative deals. It’s often cheaper if you buy both buildings and contents from the same insurer. Make sure your premium is based on the cost of rebuild, not market value. Home insurance usually costs more if you pay using monthly direct debit instead of a one-off premium, but with Sainsbury’s Home Insurance you can pay in 12 monthly instalments at no extra cost. Sainsbury’s also offers some highly competitive deals – find out more at sainsburys.co.uk.
A taxing issue
Check that you’re not paying too much council tax or missing out on any potential benefits you’re entitled to. Look up your band rating on your council’s website and then visit direct.gov.uk to find out if you’re paying the right amount. If you want to appeal against your council’s decision, contact the Valuation Office Agency (voa.gov.uk)
By Kim Sullivan
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Money-saving checklist
* Go through your big annual outgoings now, so that you can spend a bit of time shopping around before your contracts are up for renewal and you have run out of time to find better options.
* Make the most of independent price comparison sites giving details of a wide choice of providers and deals on everything from essential services to financial products. They can help you make the switch simple.
* Be pushy. Go back to your existing provider to ask if they can match any competitive quote you’ve been given. You’ll be amazed at how flexible they can be when they think you might leave them.
* Buy online, pay by direct debit, and use online account management for far better tariffs and promotions.
* Check you understand exactly what you’re signing up for and the contract period the deal covers. If you’re unclear or want more flexibility, ask for more information.