Some of us can’t help but approach bills with a sense of dread, and with the constantly rising prices, it’s no surprise. Approximately 14% of people in the U.K. (that’s over 7 million) fell behind on their essential bills in 2020[i], and though it might seem like a never-ending spiral, there are things you can do now to decrease your monthly expenses and loosen that knot in your stomach every time the next bill comes in.
Cutting back on the money you spend on household bills is surprisingly easy, and you could be saving quite a bit with some easy tricks. By focusing on the minor things and setting aside the time to sort them out, you will quickly see an increase in the money you have leftover once you’ve paid everybody else. Here, we have some tips to help you save on some of the bigger household bills. We’ve included pointers on reducing the current cost and moving on to new contracts if the situation calls for it, so you’re guaranteed to find something to help you. Following our advice can save your household up to hundreds of pounds per year, so let’s get you started.
Beginning with a list of household bills can make everything seem a bit clearer and help you budget around them. These are the bills you will likely have to pay as a homeowner or renter in the U.K.:
Having a list of the bills you’ll have to pay and the average cost of them readily available will ease your mind at the end of each month because you’ll know what you’re going to get hit with and be aware of any changes.
Many of these tips are simple but may take some time. For example, if you want to change electricity provider, you will have to research each one to find the best deal. It may be time-consuming, but will benefit your money-saving goal in the long run. Now you have a fuller understanding of the bills you pay out, you can find the best ways to cut the costs for good.
The rent will be the most significant bill you have, so saving money here is vital. Here are a few things you can do to reign in the cost:
Gas and electricity bills can crawl up each month if you’re not careful, and getting ahead of them can significantly benefit you and your bank account.
Try our electric underfloor heating for an efficient way of heating your house and saving on the gas and electric bills. Our low-maintenance underfloor heating will distribute heat more effectively than regular radiators and so will warm up the home before any of your bills have a chance to take a hit.
According to Water U.K., the average yearly water bill is £396.60 per year[ii], and although you can’t exactly change supplier, there are some things you can do to reduce the cost.
There’s no better time to save some pennies than when your mobile phone contract ends. If you’re looking to buy a new handset too, you’ll be surprised where you can save.
There are plenty of broadband suppliers out there, and choosing the right one can mean several pounds worth of difference.
If you’re a regular commuter, travel can take a large chunk of money. Cutting costs here will be very beneficial, and could save you hundreds.
Saving money on your bills is very relieving, but setting up a budget plan will help more if you’re income’s tight. Monitoring what you spend and when can help put a stop to any overspending or bad habits. Pair this with the cost-cutting tips we’ve given you, and you’ll soon be saving enough money to question why you didn’t think of it sooner.
Do you have any cost-cutting tips of your own? Let us know in the comments below!
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