Millions of Britons have today woken up to a triple threat of rising energy bills, a hike in social security contributions and higher council tax rates, which together have delivered an unprecedented shock to living standards.
Described by the daily mirror Described as the “worst attack on living standards” in a generation, the cost of living crisis has prompted calls from across the country for Chancellor Rishi Sunak to do more to prevent millions of people being pushed into poverty.
The support offered so far “does not even reach the sides of many families,” said one MP The times. “It feels unsustainable,” said money saving expert Martin Lewis on the BBC five live that the “country needs more help” if it is to negotiate through a period of rising prices.
“We’re a rich First World nation and I’m talking about how people are going to survive, whether they choose to freeze or starve,” he said. “I don’t think that’s right.”
Here are some of Lewis’ and other experts’ top tips for saving on your gas and electricity bills in the coming months.
Look for energy deals – and avoid the “cons”
All of these factors have contributed to a Cost of Living Crisis that leaves “a lot of household budgets under pressure,” said Ruth Jackson-Kirby MoneyWeek. “When you’re in this position, honestly, there are no easy answers, but it’s important to consider everything you can do to help offset mounting bills.”
One of the first things to do is check if you’re paying too much for your electricity and gas, Jackson-Kirby added. With high wholesale energy prices, it may not be possible to get a better deal now, but it’s still worth “checking if you have an exceptionally bad rate”.
“Changing energy suppliers used to be the top tip for saving money,” they say The sun. To make sure you get the best deal, avoid these four “energy disadvantages” as companies try to get you to pay more: estimated consumption, different names for standard tariffs, hiding variable tariffs, and fixed offers.
If you’re having trouble paying your energy bills, “talk to your supplier as soon as you can – they’ll have to help you,” Andrew Capstick said Sparexperte.com. Speaking of The Martin Lewis Money Show Livethe founder of MoneySavingExpert.com, advised consumers to “do nothing, stick to the price cap, don’t fix”.
Energy saving tips at home
Since a “large chunk” of the family budget is spent on utility bills, “it makes sense to look for ways to reduce gas and electricity consumption,” Mehdi Punjwani said MoneySuperMarket. An average four-person household now uses 13 electronic devices, compared to just four in 1990. Despite owning more devices, however, there is “still a lot to do to reduce energy use — and save money.” Punjwani’s top ways to save energy at home are:
- Turn off standby devices
- Install a smart thermostat to make heating more efficient
- Turn down your thermostat
- Buy efficient devices
- Install a new boiler
- Wash laundry at a lower temperature
- Be smarter about water
- Invest in double glazing
- Make your property draught-proof
- Insulate the roof
- Monitor your usage
Norton Finance has ranked six energy-efficient home improvements to cut bills that Daily express reported. Households with a medium terrace could save nearly £5,500 on heating bills over five years by using these inexpensive ‘hacks’: draft control, roof insulation, wall insulation, boiler upgrade and double glazing.
One trick is to buy a 3-pound roll of self-adhesive draft-free tape to “block unwanted gaps around windows, doors, and chimneys that let cold air in and warm air out.” This could save around £370 after five years.
Rhiannon Philps, a finance writer for NerdWallet, also shared her top tips for saving energy and reducing fuel bills. “Now is the time to make those changes that could help lower your gas and electricity bills,” Philps said. “While there’s nothing you can do to reduce energy bills, you can reduce consumption in your home to save money while helping the environment.”
included in it 42 top tips for saving energy are:
- Don’t charge your phone overnight
- Boil the kettle once for the water you need
- Consider using a pressure cooker
- Only heat the rooms that you use
- Use natural light
- Get an energy efficient exterior door
https://www.theweek.co.uk/business/personal-finance/55674/energy-prices-how-to-save-money-gas-electricity This saves you money on gas and electricity