Save money on running your home

Money Advice ServiceFrom tinsel to turkey, the costs of Christmas can quickly mount up and leave you with a money hangover come the new year. Research by the Money Advice Service showed one in five (20%) adults thought they would find it harder to cope in 2015 than 2014.

If this sounds like you, don’t despair, there are ways to save money – and some you may not have even thought of! Get pounds back into your pocket by squeezing the pennies from your house. Here’s how to start 2016 with a happier looking purse.

Kitchen

How many times have you wasted food this year? Whether it’s the soggy salad you’ve forgotten about at the back of the fridge or a loaf of bread that’s gone mouldy, it’s easy to throw away food without thinking about it. But this can add up.

Love Food Hate Waste found out by making the most of the food you already have the average family with children can save around £700 a year – an amount not to be sniffed at.

Remember, the freezer is your friend – if you’re not going to use something freeze it to be used later. Meal planning, correct storage and knowing your date labels can also help. Use-by dates must be adhered to for safety, but best-by dates indicate food quality, not safety, so you can still eat food after this date although it may not be at its best.

Food waste is even more pressing at this time of year. Always think of what you can do with leftovers before you throw anything away.

Living room

Have you switched your phone or broadband deal yet? You can make great savings this way. Take a look at Ofcom accredited switching sites such as broadband.co.uk and Broadband choices for an overview of your options.

If you’re considering switching, phone your supplier first and ask for your MAC code. This code lets you switch suppliers easily and quickly, and you’ll probably find once you ask for this code you’ll be transferred to the retention department and may find you’re offered discounts or other special deals to stay.

Bathroom

With the average water bill in the UK set at roughly £385 it’s not surprising to want to find ways of cutting down. But don’t worry, that doesn’t necessarily have to mean you need to cut down on your morning shower routine.

A water meter could potentially save you around £100 a year and is free to install. A water meter means you spend for the water you use, rather a set amount each year. It’s not always worth switching, but a quick look on the water meter calculator on the Consumer Council for Water website should help you make a judgement call.

The Energy Saving Trust also recommends insulating your hot water cylinder. A well fitted tank jacket could save you around £25 to £35 a year, more if you heat your water electrically. Insulating the hot water pipes will save more energy, and can help your taps to run hot more quickly.

Other tips include taking showers instead of baths and looking into a water-efficient shower head.

These are lots of other tips you can follow to make sure your home is a money maker rather than a money drainer. A great one for the whole of your home is to see if there is anything you don’t use any more and want to sell. Remember one man’s trash is another man’s treasure! Take the time for a trawl through your house. Are you using everything in your wardrobe? How about your kitchen – did you make use of all those fancy gadgets?

Do you do any of these ideas? Are there any of your own you could add?



Money Advice Service

This article is provided by the Money Advice Service.

All information accurate as of date of publication.


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