Improve your finance by reducing your energy bills

Money Saving

Money Saving Tips

In financially challenging times, everyone searches for ways to save money. If you’ve already cut all the frills out of your budget, perhaps the next step is to ask yourself if it is possible to lower the bills that you can’t eliminate altogether. And the answer would be an unequivocal “yes”.

One of the most effective ways to shrink your monthly expenses is to reduce your energy bills. From planning a switch to a cheaper energy company to learning how to manoeuvre your household chores more efficiently, here’s how you can make it happen.

Saving on energy around the house

Energy efficiency is a great way to put away more money a little at a time, but first and foremost, you should research other energy companies in your local area to determine if any of them have lower energy prices than what you are currently paying. One of the most effective–and proactive–things you can do to take charge of your finances is to stay informed about the energy industry and switch providers if it makes good financial sense for you.

Next to finding the lowest energy prices, you can energy-proof your home in just a few minutes and for very little money. Make a list of small investments, such as a low-flow shower head that can help reduce your annual energy costs by more than £100. Also, a programmable thermostat can help cut your energy use in one of the most vital places by turning your air conditioner or heater off when you leave home and turning it back on shortly before you return at the end of the day. Lastly, remember to head to the hardware store and pick up some insulation for your pipes and hot water heater so that you don’t lose energy in these two important places in the home.

To save money, you’ve probably already resorted to cooking more at home in lieu of eating out, but did you know that you can take those savings even further with the way that you cook? Using a steamer basket above a pot on your stove top can enable you to cook several different items using the same amount of energy that it takes to cook one. And boiling water in the microwave is far more energy efficient than doing it on the stove. Also, remember to use a pot of the correct size on each stove burner to prevent heat loss.

And speaking of household chores, the laundry room is also a place where you can save money. It can benefit you to do laundry early in the morning or later at night during summer months because your air conditioner won’t have to fight the effects of heat-producing clothes dryer. Or you could save even more money by air drying your clothing instead of using the dryer. Looking toward larger steps that you can take, putting away money for a front-loading washing machine is a worthwhile financial goal because these particular models use less water and energy.

As you continue the path to financial freedom, remember that the best solutions are usually the most creative ones. View this as a time to think on your toes and outside the box and you’ll be pleased not only with your energy bill but also with yourself.

Quick tips to save Money

Saving money can be one thing that people find very difficult but in reality, if you follow some very simple steps it can be a lot easier. When you start looking at saving money, there are no strict rules for everyone to follow, it all depends on your own circumstances and what works best for you.

Money Saving

Money Saving

  • Budgeting – You should always budget your money, budgeting is great way to make sure you don’t overspend from month to month. You should always know what your income and expenditure will be for a given month; this helps you to ensure the necessities are paid for. Planning ahead this way ensures that you will never struggle to pay off your bills when it comes to the end of the month.
  • Never spend more than you earn – This is vital and it basically links to my post about budgeting. If you spend more than you earn then you are basically building debt. To make sure you never spend more than you earn, you should set up a budget whenever you receive money, for example whenever you receive your salary.
  • Set yourself some financial goals – Having something to aim towards financially can really help you get where you want to be. If in this case your aim is to save money, then you can set yourself some aims that are measurable and realistic. An example of this could be that you want to save £20 every week for two months; you can set yourself a long term target and split it up into manageable objectives.
  • Compare your bills – Using price comparison sites, you can search for prices from various providers of regular household bills, from utilities to your mobile phones to see if you can save money. Price comparison sites do the hard work and they compare a lot of the main providers so you can see how much you can save in an easy to read list.
  • Shop smart – Try and shop to a specific list when you go food shopping, by doing this you can try and avoid the big impulse purchases that bump up your shopping list, it’s a good way to try and stick to the necessities.
  • Bike to work – If your place of work isn’t far away from your home, then you could take up biking to work, it can save you of petrol money, and it also helps you to do your bit for the environment.
  • Savings Account – Using a savings account is a great way to help save you some extra cash. You can set up an automatic payment from your normal bank account, it doesn’t have to be a lot of money and it will steadily rise over time, leaving you with a nice surprise when you come to check your account.

I hope these money saving tips will help you on your way to achieving what you want from your finances.

Bio: This article was written by Andreas Nicolaides, a finance author for MoneySupermarket.com.