The cost of living is on the rise, and everyone is looking to save every penny. While it may not be sustainable, saving is the best way to get through these tough times.
With that mindset, the personal finance experts at My Favorite Voucher Codes have shared some money-saving methods in the context of increasing costs.
Julian House, the CEO of the website, says, “The cost of living crisis is a real threat to the people of the United Kingdom. Many feel helpless in this situation.”
“But currently, we can face the crisis in our own way.”
Be cautious with standby energy
Appliances on standby are the reason why electricity bills can skyrocket. According to experts, devices left on but not in use can cost an average UK household £147 per year.
However, dealing with them is not a big deal. The simple principle is if you don’t need them, turn them off.
Reduce driving speed
On average, driving five miles at 50 mph costs about £1. However, the same distance at 70 mph can increase costs by nearly 50%. Therefore, the faster you go, the more you spend.
Hunt for deals
Using discount codes and participating in online discount programs is a surefire way to save on a range of products, experiences, gifts, and more.
There are plenty of online websites to choose from, and there are always offers for the products you desire.
Consider heating devices
If you’re trying to cut costs a bit, then considering your heating system is worth paying attention to.
Experts say, “With the price cap rise in April, the average household’s usual bill falls around £1,971 per year.” Therefore, controlling expenses relies heavily on considering and evaluating each family’s heating equipment.
“A simple example is replacing the thermostat with an electric blanket to keep warm in the evening.”
Negotiate with suppliers
A survey conducted by Which earlier this year showed that bargaining for a broadband package can save an average of £85 per year, and a combined TV and broadband package can save £128 per year.
The research team said, “Negotiating may seem daunting, but don’t let that hinder your saving process.”
Tuan Tran (via Metro)
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