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How to save money on household bills

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No matter how well you think you’re faring when it comes to money, there’s always a shortcut or two that could save you a couple of quid each year on your household bills. The cost of these bills is continuing to rise across the UK, but with a couple of quick changes, you can easily cut costs. Here are some of our favourite tips.

Cutting water costs

An average household spends around £400 on their water bill each year. In order to knock a bit of money off, you could consider having a free water meter installed so you only pay for the water you use. If you find that the meter hasn’t saved you any money, you can change back within 12 months of it being installed. After this time has elapsed, it isn’t possible to return to unmetered billing. If your house was built in 1990 or later, it will already have a meter installed. Other water-saving options include showering instead of bathing and turning the tap off while cleaning your teeth. Here are even more ways to save on your water bill.

Cheaper gas and electricity

The average yearly energy bill in the UK is around £1,000. If you want to save some dosh, consider switching every so often. There are lots of energy suppliers out there competing for customers, so you’re bound to find a good deal. Instead of only checking with the most well-known companies, do some research into the lesser-known ones, which often have surprising cheap deals. You might also be able to cut your energy bills by installing insulation, glazing, or through a more efficient heating system in your home.

Buy in bulk

If you buy your household items in bulk, you can save money and will never have to worry about running out of anything. The things most people buy in bulk include toiletries, washing powder, cleaning supplies, food, and even office supplies such as toner or paper. Just make sure you have room to store your hoard. Even though you might not be able to buy everything in one trip, purchase what you can and you’ll slowly build up a stockpile of common household items.

Are you paying too much Council Tax?

It’s not uncommon for a household to find itself in the wrong Council Tax band so it could be that you’re paying more Council Tax than you should be. If you claim benefits or are on a low income, it may be possible to reduce the amount you pay. Have a look at the GOV.UK website for more information on Council Tax. There are also ways to get a discount on what you pay. This includes if you live alone, you live with full-time students, you live with someone with a disability, etc.

Cheaper broadband, phone, or TV

Just like with gas and electricity, it pays to look around to see if there are cheaper options available. Every so often, do a bit of research and find out if there’s a cheaper broadband, phone, or TV provider you can switch to. If you decide to change mid-way through a contract, you may have to pay a fee to be ‘let out’ early so bear this in mind.

Alternatively, you could consider house hacking to earn a bit of extra income. As explained in our article on house hacking, you could rent out part of your house if you have a spare room, for example, or even rent out the whole place if you own several properties.

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Latest Issue

BDC 301 February 2023