Reduce your utility bills and grow your savings

This is a collaborative post

Cutting down your utility bills is a great way to help increase your savings pot. Whether you’re saving for a new house, the holiday of a lifetime, or simply hoping to clear some debt that you have accrued, then focussing on your energy bills can be a big help.

The likelihood is that you aren’t quite as energy efficient or economically sound as you could be, so here we’ve collated some ideas which will enable you to contribute to your savings pot.

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Start by finding out if you’re getting the best deal 

One of the quickest ways to start saving on your energy bills is to visit a price comparison site. Your energy supply is one place where you are unlikely to be rewarded for being a loyal customer, and the best rates are often reserved purely for new customers.

There are plenty of comparison sites out there nowadays which you can simply click onto, input your current energy consumption and be offered a wide range of tariffs from a whole host of providers (many you probably haven’t even heard of).

Not only can you compare prices, but often they will also deal with the switchover meaning that it is super easy to do.

Switch your lightbulbs for energy efficient ones 

If you’re still running your house on old bulbs, then you can often see reductions in your energy bills by switching to CFL or LED bulbs.

Whilst the initial outlay of replacing them all may seem counterproductive; over time you will make great savings on your electricity bills – especially if your house has lots of bulbs in each room. Even by switching out just a handful of your most used bulbs, you’ll see some good savings against your quarterly or annual bill.

Unplug anything you aren’t using 

Contrary to popular belief, things that are plugged in continue to use electricity, which over time will add a significant sum onto your energy usage.

Think about how many plugs remain switched on around your house, from TVs and computers to toasters and kettles, there are probably plenty of things in your house right now that are unnecessarily using electricity which you are going to be paying for!

Switch to a water meter 

Many of us are currently on standard water charges, meaning that we are charged an amount each year, based upon what the water company expects you to use based on your household size. Whether you use more or less than what is expected, the amount will remain the same.

What many do not know though, is that you are likely using a lot less than you are paying for. It is free to switch to a water meter and you have the flexibility to switch back within 12 months if you feel it isn’t working for you – you could easily see your bills cut in half just by doing this.