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  • How to Save Your Hard Earned Cash

    Look after the pennies and the pounds will take care of themselves

    I don’t think there are many people out there who like throwing money down the drain, particularly in recent years with the challenging economic climate. Rising unemployment and general uncertainty in the jobs market has ultimately pushed the importance of saving up people’s radars.

    A simple google search will throw up hundreds of money saving tips and advice, but in essence,

    it’s all fairly obvious stuff. Don’t spend more than you earn, try and pay off as much credit as possible,

    eat out less, swap luxury holidays for budget ones,

    drink less alcohol, stop smoking, try and reduce your travelling to save fuel costs…the list goes on and on.

    Looking specifically at your home,

    there are a number of changes you can introduce that will make an immediate impact on the size of your energy bills.

    The first thing that will help is trying to change your habits.

    Turning off lights when you’re not in a room for example,

    or not leaving your TV and appliances on standby,

    will make small savings, but savings none the less.

    One of the quickest and easiest ways to start saving energy is by switching to energy saving light bulbs. Not only do they typically last 12 times longer than ordinary bulbs, but by switching, it could save you over £100 a year.

    Next, you need to think about how old your boiler is. Replacing an old or inefficient boiler (usually those over 15 years old) with an energy efficient condensing boiler could save you up to 40% off your heating bill straight away. Whilst the initial capital outlay is expensive, reducing your bill by up to £250 each year should enable you to recover the cost within five years, with the savings continuing much longer after this.

    If you already have an energy efficient boiler, try turning your heating thermostat down. According to the Energy Saving Trust, turning it down by just one-degree centigrade can save up to 10% on your heating bill. Then there’s loft insulation. 15% of heat is lost through your roof so if you insulate properly, it could save you another £150 a year.

    There are a host of other energy-saving tips out there, from changing your older appliances to newer energy efficient ones to looking at switching your energy supplier to take advantage of dual fuel discounts.

    Some of these measures may seem expensive initially, but they really will make a difference. If money is tight, then just start with the smaller changes first, your wallet will benefit in the long run.