New study shows UK households spend 11.1% of their monthly income on utilities. Experts share their top tips on how to save on your bills.
How much do we spend on utilities?
The research delves into the data, analyzing the average monthly income in each country, monthly prices for water and gas, electricity, broadband, and the average cost of 1GB of mobile data to find out how much countries spend on energy bills and how much percent of their monthly income corresponds to this.
As the cost of living continues to rise and fuel prices explodes, it becomes increasingly difficult to pay for the energy we use.
It has been revealed that UK households spend 11.1% of their monthly income on utilities, with gas and water accounting for the bulk of UK utility bill spending at 6.4%. On the other hand, electricity accounts for 3.6% of the average monthly income.
The UK is in the top 10 for both the lowest broadband income share (1.1%) and the lowest mobile data income share (0.04%).
Top 10 countries that spend the lowest portion of monthly income on utilities
The study also found that the top 10 countries spend the smallest portion of their monthly income on utilities.
The country with the lowest household utility bills is Switzerland, which is not surprising as the Alpine country has the highest monthly income on the study’s list at £5,069. In second place, Singapore also has one of the highest earnings on the list at £3,370 a month, resulting in electricity bills accounting for just 6.3% of that total. Next, electricity bills account for 6.5% of average monthly earnings in Ireland.
Tips for saving energy costs
Utility Bidder experts have also shared some tips on how to save money on yours energy bills:
● The easiest way to save on your bills is to turn off your devices when you’re not using them – even when they’re on standby, devices still use power.
● Turning off the lights every time you leave a room can save you up to £20 a year, according to Utility Bidder.
● Lowering the temperature of your washing machine to 30°C can save you up to £28 a year, and reducing the number of washes to one a week can save you a further £8 off your bill!
● Drying your clothes on clothes racks or outside in the sun can save you up to £55 a year!
● Last but not least, lowering your thermostat by just 1°C can save around £80 on your heating bill!
https://techround.co.uk/news/uk-households-spend-11-1-of-monthly-income-on-utilities/?utm_source=rss&utm_medium=rss&utm_campaign=uk-households-spend-11-1-of-monthly-income-on-utilities UK households spend 11.1% of their monthly income on utilities