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The past couple of years have been hard for a lot of people. The pandemic changed everyone’s lives and we’ve had to change the way we do certain things, including managing our money and outgoings. This year, energy prices are set to increase and this could mean struggles with finances. Here are 5 ways to save money on your essential household bills.
Get a smart meter
Sometimes we can get complacent when it comes to what we do on a daily basis. It’s easy to continue to forget to turn that light off or to leave an appliance on standby but you might not realise how much these things are costing you. By having a smart meter installed you will be able to keep an eye on your usage and alter it accordingly to help reduce your outgoings.
Take care of your appliances
A great way of keeping costs down at home is to look after what you already have. Appliances, whether they are big or small, can cost a lot to replace if they break. Of course, a toaster is a lot cheaper and a lot easier to replace than, say, a boiler if something goes wrong.
Another reason to look after the appliances you already have at home is because some of them are essential. I’m not sure how long most of us would cope without a way to cook or how long we would be happy without hot water. A boiler service could help to ensure that your boiler is in tip top shape and that any small issues are caught before they turn into big ones. A smaller fee for a service could save you a lot in the long run if your boiler breaks down unexpectedly .
Easy fixes around the home
There are some things around the home that could be costing you a lot of money. One common cause of an increased water bill is a dripping or leaky tap. By having this water run, even slowly, all day long, you will be wasting money on water you’re not using. Taps can be quite easily replaced and can be done either by yourself or a handyman. YouTube has some great videos if you fancy giving this simple fix a go.
Look for better deals
We all know that we need certain kinds of insurance and generally, you’ll sign up to a 12 month term with each company. Just because your 12 months is coming to an end doesn’t mean that you have to stay with that company. In fact, you could end up saving money by switching to a better deal.
Do some research before your insurance renewal date to see if you could be paying less for the same cover. If you do manage to find something cheaper, go back to your original insurer and ask if they can match or beat your new quote. Some companies also offer cash back for signing up as a new customer or rewards such as gift cards or 2 for 1 deals.
Have a rainy day fund
Something we can easily get into a habit with is putting things on finance because we have to. If something breaks and you can’t afford to replace it outright this can often mean using a credit card, using a store card or maybe a catalogue. These kinds of credit often come with high-interest rates and you’ll end up paying more in the long run.
By making sure you have a rainy day fund, and a savings account somewhere, you might not have to do this in the future. It can take some time to build up a good amount of money where you’ll feel safe in case something does need replacing but adding a little to it each month will help. Put in what you can afford and you’ll soon see the balance grow.
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