Following years of high inflation, and slowing economic growth, household budgets are under renewed pressure, and the cost of living continues to rise. Whether it’s your energy or your mobile phone, cutting costs can often mean poorer products or customer service. But it doesn’t have to be this way. With the right habits and tools, you can get more for less.
Practical tips to help you beat the rising cost of living
In this article, we’ll outline eight strategies to cut your living costs without cutting the quality of your services.
Bundle Your Utilities
One of the most effective ways to reduce expenses is by bundling essential home services like energy, broadband, mobile phone and insurance. Some providers incentivise customers by offering discounts when they choose to take out multiple products.
For instance, Utility Warehouse (UW) has bundles that combine various household services into a single, cost-effective plan – and just one bill. So that means both simplified billing and considerable long-term savings.
In addition, UW offers the chance to become a ‘Partner’. Here, you can earn money for signing up family and friends to UW services. As every household needs utilities, it can be a great opportunity to supplement your income, or put the proceeds towards paying your own bills. Find out more about becoming a UW Partner.
Switch to Energy-Efficient Solutions
Reducing your energy consumption is a straightforward way to lower your bills. Simple things – such as switching to LED light bulbs, using smart thermostats, and ensuring your home is well-insulated – can slash hundreds of pounds off your annual energy bill.
Also, when replacing appliances, consider buying energy-efficient models. While the upfront cost may be higher, they will more than pay for themselves over time.
Opt for Fixed-Rate Energy Plans
Energy prices are notoriously unpredictable, with increases in the rates having a direct impact on the price customers pay. One solution is a fixed-rate energy plan, which locks in your tariff for a set period, shielding you from unexpected price hikes.
These plans are particularly advantageous during periods of market volatility, providing peace of mind and a stable foundation for budgeting.
Embrace Smart Technology
Smart home devices have become invaluable tools for managing energy usage. Smart plugs and meters, for example, allow you to track electricity consumption in real-time, helping you find out which appliances consume the most energy.
By making informed decisions based on this data, you can make substantial savings.
Using the Utility Warehouse (UW) app, you can streamline this process. It allows you to monitor your services, manage your usage, submit meter readings, and identify potential savings.
Cut Back on Unnecessary Subscriptions
Regularly reviewing your household subscriptions like Netflix, Prime and Disney can reveal opportunities to save. It’s common to find services you no longer use or need, yet continue to pay for out of habit. Cancel unused subscriptions and consider consolidating others to free up some funds. Many will tempt you back with discounts and free trials, but that’s still a saving overall.
Join a Rewards Program
Rewards programmes are an excellent way to earn discounts or cashback on everyday expenses. Utility Warehouse, for example, gives rewards to its customers, which you can turn into discounts for shopping and other routine spending.
Get the Whole Household Involved
Saving on your household expenses is a collective effort. Encourage everyone in your home to adopt energy-saving habits, such as turning off lights when using a room, unplugging devices when not in use, and being mindful of water consumption. Small changes add up over time, leading to surprising savings.
By implementing practical strategies and using the right tools and technology, you can make significant progress in reducing your household expenses. Whether it’s bundling utilities, improving energy efficiency, regularly reviewing your providers, there are plenty of ways to save without compromising on quality or comfort.
