According to MoneySuperMarket.com, the average household spends around £1,277 a year on heating and power. That makes energy one of the biggest annual costs for UK families.
Since the end of 2021, we’ve seen a rise in energy prices globally and this has dramatically impacted household bills and expenses. With an ongoing shortage of energy across the world, we want to share some practical tips for saving money on your energy bills in 2022.
- Turn off unused appliances
Sounds obvious, but most of us leave appliances that we’re not using – plugged in and switched on out of convenience. However, if you’re looking to lower your energy bills this year, making the switch (literally!!) could be a great start.
- Turn down your thermostat
Almost half the money spent on energy bills is absorbed by heating and hot water costs, turning your heating down by just one degree could save up to £80 a year.*
- Block out draughts
A cold draught in your home can cause it to lose heat, meaning that heating you’re paying for is literally going out the window. Check seals around your windows, doors and letter box and if you need to, a draught excluder or kit can help prevent your home losing heat.
- Plan ahead with your savings
You can save for various reasons, but with rising energy costs and the cost of living increasing – planning ahead, and starting a savings plan could pay off later in the year. With Spring on the horizon, so are longer days and – fingers crossed – warmer weather, which means we can turn off our heating. Even small weekly or monthly savings can add up in the long run, and will help to manage your bills later in the year.
For example our Christmas Saver Account – it’s not just for Christmas gifts – is a great way to save for Christmas. It is a locked share account that is unlocked in October. It is perfect for people who want to save up, but may feel tempted to dip into their savings before next winter.
We will also have a new locked Winter Fuel Saver Account launching soon, keep your eyes peeled!