Money Saving Tips

Seven money-saving tips that will help you reduce your household bills

Household bills are one of those things that can quickly add up – and nobody wants to pay over the odds for their bills if they don’t have to.

To help, experts at regulated property buyers, GoodMove, have pulled together seven ways you can reduce your household bills and save some of your hard-earned cash.

Director at GoodMove said: “We all know how quickly household bills can add up, particularly over this past year during which so many of us have spent a significant amount of time at home.

“Luckily, there are multiple ways in which you can reduce your weekly household bills but it’s all about knowing where to start so we decided to pull together some of our top tips in the hopes of helping you save some cash.”

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Experts at regulated property buyers, GoodMove, have pulled together seven ways you can reduce your household bills and save some of your hard-earned cash

1. Get your utilities in order

An effective way to reduce your household bills is by getting your utilities in order, with the average standard variable tariff being around £1,125 per year.1

Easy ways to do this is simply remembering to switch off appliances at the plug or getting some smart plugs instead. Also, washing at a lower setting reduces the temperature, which in turn reduces your energy consumption. If you’re looking to save further, gain better control of your heating by installing a smart thermostat or even consider investing in energy efficient appliances.

2. Re-consider your broadband package

While having decent broadband and wi-fi is massively important to many of us (especially with more of us working from home than ever before) there are ways you can try save some cash. Do you really need the deluxe package or the fastest speed intended for a family of five? If not, reduce your package.

Haggling with your supplier is another way you can try reduce the costs; as the saying goes, if you don’t ask, you won’t get. Make sure to stand your ground and try negotiate a lower price or some other incentive.

3. Check whether you’re eligible to reduce monthly bills

Council tax is based upon where you live, but there are certain other criteria which may make you eligible for reduced monthly bills.

For example, if you’re on low income you may be eligible to receive Universal Credit, Jobseekers Allowance, Pension Credit, or Income Support payments. Are you, or a member of your household, a student? Or do you, or another member of your household, suffer with a physical or mental disability. Moreover, if you’re the only adult within your household this entitles you to a 25% council tax discount.

4. Reduce your water consumption

Currently, the average annual water bill in England stands at £408 so if you’re happy with your fixed tariff, feel free to stick with that method. However, if you’re on a budget there are a few super easy ways you can reduce your water consumption.

Basic steps you can take include spending less time in the shower, turning off the taps when shaving and brushing your teeth, and limiting how often you flush the toilet. Other ways include only using the washing machine when fully loaded and opting to fill the dishwasher, rather than washing up at the sink, and if you don’t have a dishwasher, use a washing up bowl.

5. Learn to meal prep

Food and drink accounts for a large amount of a person’s household bills, so being able to cut the costs here can make a real difference. Try to get a weekly meal plan sorted to avoid unnecessary trips to the supermarket as well as spreading ingredients over numerous meals and preparing portions in bulk which also helps to reduce waste.

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6. Comparing suppliers

Probably one of the most well-known ways to reduce your household bills is by using a price comparison site. By doing so, you might discover that its cheaper to switch providers or if you find an equivalent product cheaper elsewhere you can always call your current provider to request a price match.

7. Pay on time

It may seem obvious but paying your household bills on time is crucial, particularly if you use a credit card as this may also affect your credit score, plus no-one wants to be stuck with a late fee.

You might find it helpful to establish a direct debit plan as this means you no longer have to worry about sending over the money yourself. However, be sure to check your bank statements to make sure everything is correct and up-to-date. If you would rather do it manually, be sure to set reminders so you don’t miss any deadlines. Try make it so your monthly bills line up with payday. Having your outgoings all sorted for the day you get paid means you’re able to enjoy the rest of the month worry-free.