Saving money in the home

Saving money in the home
Running your home in a cost efficient manner can make you huge savings each year. With talk of energy costs on the increase, the first thing you should do is cut your bills. There is no use simply thinking about doing it, or putting it off until tomorrow, do it today.

You may have never thought about shopping around for the best utility prices, the the worrying fact is that there are millions of people out there paying over the odds. Take a few minutes of your time and come and check out the Which4u website. By entering a few simple figures based on your current usage you can find out instantly if you could save by switching providers.

Once you’ve done this you can move onto the next step and reduce your usage.

There are a number of ways you can reduce the amount of electricity you use, most of which are common sense, but many not followed. Always ensure you switch electrical appliances off when they are not in use. This includes having your television or DVD player on standby, and leaving your computer on when not in use. A standard PC left running for 24 hours will use approximately £70 of electricity over a year - if you only use it for 2 hours a day you could be making big savings. It only takes around an hour to fully charge a mobile phone yet many people leave them plugged in overnight.

Turning the thermostat down on your heating can reduce your heating bills by 10%.

You probably won’t notice the difference in heat, but you will certainly notice a reduction in your bills.

Try to fill your washing machine rather than using all that electricity and water to clean a few shirts, and use a cool wash whenever possible.

The electric kettle consumes the most energy than any other cooking appliance in the home - 29%, compared to 23% by electric hobs. UK households could save £1million a week by not over-filling their kettles. If everyone in the UK only boiled the amount of water they needed, there would be enough energy saved to power all the UK's street lighting for 7 months.

Try to avoid having baths and switch to showers and only stay in for a short period. If you don't have a shower, buy a shower adapter for your bath. This will reduce your water and gas bills. A single shower can use between 6 and 10 gallons of water per minute. Reduce your shower time by 2 to 3 minutes and you’ll notice the difference in your bills.

Your whole house does not need to be lit up when you are only using a few rooms. Make sure that when you leave a room, you switch off the light. Energy saving light bulbs are also a good method of cutting down usage. Around 30% of your domestic electricity bill is spent on lighting your home.

Energy saving light bulbs can help to reduce the typical domestic electricity bill by producing the same amount of light as a standard light bulb at a fraction of the cost.

If you haven't already, it's worth considering double glazed windows and insulation. Around half of heat loss in a typical home is through the walls and loft. There are several places in a home that can be insulated, including the walls, floor and loft.

Double glazing cuts heat lost through windows by half and installing double glazing could save around £140 a year on your heating bills.

These are just a few really simple measures that any of us can take to reduce our energy usage. Better than feeling the heat when the bills drop through the letterbox.

Written by Sam Gooch
Thursday, 27 November 2008 17:24
Bookmark and Share

Comments (2)

The comments listed below are opinions held by the individuals posting and are not endorsed by, or representative of opinions held by which4u.co.uk. We cannot be held responsible or liable for the accuracy or content of any comments submitted. We reserve the right to publish, remove or edit comments as we see fit.
  • J SCHAUB 2008-12-05 22:03:30
    VERY GOOD ADVICE
  • A Thompson 2010-07-30 11:21:16
    I agree, some nice tips here and ones that I will be taking home with me.

    I would also like to add that storage heaters are a great way of heating your home while paying the lowest electricity bills. These heaters work by using energy at night - when energy costs move to off peak, then they release the heat in the day/evening.

    Our energy bills have fallen drastically since we installed them. Only problem is that if you're too hot you can't just switch them off, and if they have been off ad you want to turn them on, you won't get any heat until the following day, so you need to be quite organised

Make a comment on this article

Comment
Please enter the following letters in the box below.
We're very sorry for this but we just need to ensure
that you are not a computer.

Top 5 Savings Accounts

Provider
AER
Notice
Interest Paid
Min Bal
Apply
View Full Table >
3.01%
Instant
Monthly
£1
3.10%
Instant
Monthly
£1
2.50%
Instant
Monthly
£1
2.50%
Instant
Annually
£10,000
2.50%
Instant
Monthly
£1,000

Post Office Online Saver

Post Office
  • Access your savings 24/7/365
  • Apply online in less than 10 minutes
  • Instant account opening
  • Open a savings account with just £1
  • Rate applies to annual interest option and includes 1.36% gross/AER fixed interest bonus for the first 12 months
  • Monthly interest option also available
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

ING Direct Savings Account

ING Direct
  • New customers can enjoy a variable rate of 3.10% AER (3.06% gross p.a.) including a 2.56% gross p.a. bonus fixed for 12 months from the business day following account opening.
  • After 12 months the rate will revert to our ING Direct Savings Account variable rate, currently 0.50% AER
  • Move your money when you like, with no penalties or restrictions
  • Start saving from £1, with no minimum or maximum monthly deposits required
  • Open an account in minutes
  • Award winning UK call centres

Barnsley Building Society Online Saver

Barnsley Building Society
  • Great on-going rate of 2.50% gross pa/AER† variable with NO bonus period!
  • Apply online with Barnsley Building Society award-winning, paperless application. No forms to sign.
  • Open an Online Saver with as little as £1
  • Make withdrawals at any time as long as you leave a minimum balance of £1
  • Check your balance and view your statements whenever you wish
  • Log into our secure website to transfer money to your nominated bank or building society account or a nominated account held with us
  • Rate includes a bonus of 0.50% until 31/12/2010.
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Lloyds TSB eSavings Account

Lloyds TSB
  • You must be an existing Lloyds TSB customer AND signed up to Lloyds Online Banking to be able to apply for this product
  • Earn 1.60% AER/Gross from £1, and up to 2.50% AER/Gross on balances of £10,000 or more View eSavings Account interest rates.
  • These rates include an introductory bonus of 1.50% AER on all tiers for the first 12 months.
  • Interest paid annually.
  • Start saving with only £1.
  • Instant access - the convenience of Internet Banking or PhoneBanking means you can access your savings when it suits you.
  • Set up a standing order - saving regularly from your current account is the easy way to grow your savings.
  • Name your account to suit you, such as holiday, rainy day or simply savings.
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Nationwide Regular Savings

Nationwide
  • A competitive rate of interest of up to 2.50% AER, (2.50% gross p.a.)
  • Flexibility to make unlimited withdrawals if you need to giving you the highest level of flexibility available.
  • Open an account with as little as £1!
  • Save up to £1000 each month.
  • Open and manage your account online using the Nationwide MySave Online Savings site.
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Lloyds TSB Easy Saver

Lloyds TSB
  • A variable rate of interest, currently 1.60% AER/Gross.
  • This rate includes a fixed introductory bonus of 1.50% AER for the first 12 months.
  • Open from as little as £1.
  • Interest paid annually.
  • Instant access - the convenience of Internet Banking or PhoneBank® means you can access your savings when it suits you.
  • No limits on how much you can save.
  • The options to have a standing order payment into your account, so you know your savings are always growing.
  • Optional Cashpoint® card for easy access on the move.
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Scottish Widows Direct Transfer Account

Scottish Widows
  • Rate includes a bonus of 0.89% for 12 months
  • Minimum balance £1000
  • Deposits can be made by internet banking, telephone or post
  • No notice period or penalties for withdrawals
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Cheshire Building Society Direct Cash ISA

Cheshire Building Society
  • Deposit £1000+ and get 3.35% AER (variable) tax-free including a fixed 2.35% AER bonus interest rate, paid until 30th November 2013
  • Deposit £1-£999 and get 0.25% AER only.
  • Easy access to your cash, with unlimited withdrawals and deposits up to your annual cash ISA allowance (transfers from existing ISAs are not permitted)
  • However, you will need to open your account online today with at least £1,000.
  • You will receive a welcome letter with everything you need to manage your account by post.

Lloyds TSB Cash ISA Saver

Lloyds TSB
  • Earn a variable rate of 2.65% AER/tax-free.
  • This rate includes a fixed introductory bonus of 1.65% AER for the first 18 months from account opening.
  • Interest paid annually on the 31st March.
  • Save up to £5,640 per tax year.
  • Make withdrawals from as little as £1.
  • Set up regular payments into your ISA from your current account.
  • Manage your Cash ISA Saver through Internet Banking if you're registered.
  • You can transfer your existing ISA into us, with our ISA transfer form.
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Aldermore Easy Access Saver

Aldermore
  • Transparent - our competitive rates are not artificially inflated by bonuses or introductory offers
  • Reassurance - our interest rate is guaranteed to be at least 1.70% above Base Rate until 1 March 2013
  • Fast and easy setup - open an account, complete identity checks and move your money in minutes
  • Accessible - open an account with just £1,000
  • Flexible - add to your savings whenever you like
  • Unlimited withdrawals - access your money whenever you need it, without restriction or loss of interest
  • Easy to manage - do it online, by phone or by post
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme

Chelsea BS Fixed Rate ISA

Chelsea Building Society
  • Guaranteed fixed rate of interest for the duration of the Fixed Rate e-ISA
  • Minimum investment of £100
  • ISA transfers in*** from other providers and deposits up to your 2011/2012 ISA limit, can be made whilst the product remains on sale. Transfer charges may apply, please check with your existing provider
  • Interest paid annually
  • Withdrawals are not permitted during the term
  • Early closure or transfer out to another ISA provider is permitted subject to 90 days loss of interest on the closing balance. Early closure would mean loss of tax free status other than transfers to another ISA provider.
  • YOUR SAVINGS ARE PROTECTED UP TO £85,000 PER PERSON BY THE FSCS - Financial Services Compensation Scheme