Home news Saving money: Here's how to cut your household bills

Saving money: Here's how to cut your household bills

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One of the first places to save money on your bills is at home – whether that’s changing your gas supplier for a cheaper deal or haggling with your broadband supply.
A five minute chat with the cancellation department at BT, Sky or Virgin can save you big bucks.
Savings can be made in the unlikeliest of places and a good look at your household bills might throw up the chance to save a few quid.
According to the Office for National Statistics, the average family spends £7.40 a week on water, £11.50 on electricity or £10.70 on gas.
So what can be done to shave off the spends this January?
Here, we look at seven ways to save money on your household bills.
Pay your bills on time
It might sound simple but late payment fees can wipe out hard-earned savings so make sure you pay your bills on time.
Forget to pay your credit car bills on time, for instance, and you could be lumped with a late payment charge and any preferential rates you are on could go.
It is also advisable to pay for regular bills monthly by direct debit, keep a record of payments and plan ahead.
Gas and electricity
You can reduce your energy bills and get cashback on top in minutes, according to Money Saving Expert Martin Lewis.
He writes: “Remember, it’s the same gas, same electricity, same pipes and safety; only the price and billing processes really change.”

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Ways to save yourself money

Council tax checker
Check if you’re in one of up to 400,000 households in England and Scotland who’ve overpaid their council tax by being in the wrong band.
Taking ten minutes out now to check you’re in the correct band is well worth the effort.
Saving on your weekly shop

Shop around for the best supermarket deals
Shopping for food is very much part of the household expenditure but even slight behavioural changes can save you cash.
Firstly, swap the premium shops like Waitrose and M&S Food to cheaper supermarket chains – use them only for treat items.
Also, try to beat the psychology of the supermarket experience by not just buying brands that are stocked at eye level as these tend to be the most profitable.
Switching supplier
Almost 60 per cent of homes are sticking to the big six standard energy tariffs and typically overpaying by more than £300+ a year.
It may take a bit of searching and comparison work but changing suppliers could save you a fortune.
Don’t rule out haggling

Prices are very rarely set in stone when it comes to household bill providers so don’t be shy when it comes to paying the best price.
For things like broadband or your mobile phone provider, if you are out of contract or nearing the end of it, you could try to haggle your plan.
With stiff competition in the marketplace, companies are frantically trying to keep hold of customers – use this to your advantage.
Install a water meter
This is often the forgotten utility that many people think they can’t save on.
However, by fitting a water meter and cutting down on use people have slashed hundreds of pounds off their bills.
It’s worth a try.
Source: Murcury