Saving money on your household bills can be a lot more achievable than you might think.
If you take a bit of time to make sure you’ve got your gas, electricity, water, internet and phone bills as best as they can be, you’ll hopefully save some money on your household bills.
In this guide, we’ve put together 29 tips to help you save some money. 💸
To help you out, we’ve split this guide up into three sections. Click one of the links below to get to that section:
18 ways to save money on your energy bills 💡
1) Use a price comparison site to find the best deal
Research from Ofgem has found that households can save up to £300 every year if they take the time to switch their deals via USwitch, Compare the Market, or other price comparison sites.
Did you know that you can switch energy providers with Monzo? We’ll even give you a £75 credit to your yearly bill when you switch with us.
2) Try switch every year - don’t be tempted to stick with your current plan, no matter how well they’ve treated you
Some energy tariffs are fixed for a year, and after that initial period your bills could dramatically increase if you’re moved onto the energy provider’s default rate. That’s why you should try run a price comparison check each year, before your tariff is due to expire.
3) Set up a monthly direct debit
Paying via a monthly direct debit can help save you up by £85 a year. The catch? You’ll need to make sure you send regular gas and electricity readings. Otherwise, your provider will use estimated readings, and you could end up overpaying.
4) Cool it down
According to the Energy Saving Trust, if you reduce your heating by just 1°C you’ll cut around 10% off your heating bill - and that can work out to be £75 a year, according to the Energy Saving Trust.
5) Try replace those old light bulbs
Are you still using those old school incandescent bulbs? Switching to LED and other modern lightbulbs could save you up to £180 a year, according to Which?
6) Look for A+++ energy efficient appliances
If you’re thinking of switching your washing machine or fridge-freezer, consider replacing it with one that’s been certified A+++ by the European Union. Research from The Greenage has revealed that a new fridge could save you £130 a year versus some of the old D rated models.
7) Get a new boiler - if you can afford the initial outlay
Like the other A+++ appliances, modern combi boilers can save you up to £650 a year versus older models, according to estimates from Sedbuk. However, these new boilers can cost up to £4,000 - so consider replacing your old one only if you can afford to do so, and if you’re staying in your current home for a long time.
8) Roll out the insulation
Studies from Which? have shown that insulating your loft can save you up to £215 a year.
9) Get those cavities checked out
Insulation doesn’t have to stop with the loft. Most homes built from 1920 onwards have a gap between the internal and external walls. Filling that cavity could net you up to £255 per year for an average three bedroom home, according to the National Insulation Association.
10) Check if you’re eligible for a home energy grant
Whether it’s the winter fuel allowance, or a renewable technology installation like solar panels, you could be given money from the government to help you towards your bills
11) Unplug every once in a while
Your appliances, TVs, and computers can still draw energy from the plug, even when they’re turned off. You could save up to £30 a year (source: Which?) by unplugging when the item is not in use. Don’t fancy climbing down the back of the sofa to reach that plug? Take a look at smart plugs from Belko or Hive that you can control with your phone.
12) Get smart with your thermostats
Smart thermostats only heat the rooms that you’re using, and can schedule heating for other rooms when you’ll need them (like when you flop on the sofa after a hard day’s work and a tough commute). Only heating the rooms you use can make you a savvy saver.
13) 30° over 40° helps you save energy
If you change your wash cycle to 30 degrees, you’ll be saving a lot of energy in the long run.
14) Check if your current (or old) energy supplier owes you money
Your energy bill is calculated from the readings you give it, which then estimate how much gas and electricity you’ll use over the year. If you pay via monthly direct debit, you’ll pay a fixed amount based on what your provider thinks this yearly cost will be.
What you pay vs what you use could be different. There’s a chance that you’ve overpaid, and you’re entitled to get that money back from the provider. Usually, they’ll reach out to you at the end of your contract, but sometimes you might need to give them a nudge to get the ball rolling.
15) Live alone? Get 25% off your council tax bill
If you’re in single occupancy, did you know that you’re entitled to 25% off your council tax bill? Visit your local council’s website or give them a call and make sure you’re paying the right amount. If you’ve been overpaying, you’ll usually qualify for a refund.
16) Save big on heating with double glazing
Most modern homes come with double glazing as standard, but if your older home still has single glazing, you’re losing a lot of internal heat every day. Switching to double glazing can save you over a hundred quid, according to some estimates.
17) Try use a microwave to reheat your food
Using a microwave for a minute or two is vastly more energy efficient than using your oven to reheat any leftovers.
18) Better yet - look into slow cookers
Slow cookers can help you make mouth watering dishes, but did you know that running one for eight hours will only cost the equivalent of a lightbulb? That makes slow cookers super efficient, a lot more so than your normal oven!
4 top tips to save money on your water bill 🚰
19) Work out if a water meter could save you money
A water meter could save an average home around £100 a year, according to calculations from CCW. - but it’s a little more complicated than energy bills. The CCW water calculator can do those calculations for you, and then go on to recommend the right meter for you.
20) Pick up some water saving freebies!
If you’re in the Greater London area, Thames Water is giving out tons of freebies to make your water usage more efficient. You can get swivel taps, tap inserts, shower timers and more.
21) Save £91/year with a water efficient shower head
You probably already know that a shower is more water efficient than a bath. You can make it even more efficient by replacing your old shower head with a water efficient one. Thames Water calculates that you could save up to £91/year vs older installations - and they’re giving them away for free as well!
22) Get into good water management
Did you know that a dripping tap can waste more than 5,300 litres of water per year? That’s over 24 full bathtubs! Get into a habit of making sure all your taps are off whenever you’re not using them - including the ones that feed into your appliances.
7 savvy methods to save money on your internet & phone bill 💻
23) Get ready to switch again
Data from uSwitch has found that internet bills can rise by up to 400%(!) once a contract ends, if it contains introductory offers. Don’t get caught out - mark your end date in your calendar and get ready to switch before then.
24) Find a deal that matches your usage
If you’re a gamer or stream a lot of movies, you’re quickly going to to eat up the bandwidth. Make sure that your deal contains enough data for you to download as much as you want, as charges for exceeding your allowance can get very expensive. Remember: it’s not just your laptop or mobile phone that’ll use the allowance, but all of those in the household, potentially your Smart TVs, even guests!
25) Use multiple comparison websites
When shopping around for the best internet deal, it pays to check offers on several comparison sites to make sure you get the best deal. That’s because…
26) Watch out for a comparison site’s “promoted products”
Certain internet providers will cut deals with comparison sites to make sure that their package is listed at the top of their results, even when they’re not the cheapest. When you run a comparison and get the results, look at for any “featured” or “sponsored” labels, and sort the results by “price” to make sure the cheapest deals pop up first.
27) Call the provider up - you’ll usually get a better price on the phone
If you’re reaching the end of your deal, your bill could go up. If you’ve been happy with your service, it’s worth calling the cancellations department to ask them whether they can match a comparison sites offer, or keep you on the same price, before you go elsewhere. Most internet providers will do anything to keep you, and so are much more willing to get you a deal when you call them to let them know you’re thinking of leaving.
28) Price isn’t everything - check coverage and reviews
Zero bars? Slow speeds? There’s no point getting a cheap deal on your internet if you can’t use it! Before taking out any new contract, check the reviews for that provider and the local coverage in your area - or you may get a nasty surprise!
29) Take a couple of weeks to think about it
Every new internet contract comes with a 14 day “cooling off” period, where you can back out of the deal at any time. This is a good time to see whether your new provider is right for you. Did they deliver any new equipment promptly? Did they get you hooked up quickly? Are you getting the speeds you wanted? If any of those answers is a “no”, let your provider know within 14 days and tell them to sort it, or you’re off.
Want to make it easier to manage your budget and bills? Wish you had a bank account that could help do this for you automatically?
Open a Monzo bank account today and take advantage of our salary sorter and bill pots. On each payday, our account can take your salary, move what’s needed to pay your energy, water, and internet bills into dedicated pots, and pay the bill directly from there. You’ll never have to worry again about spending your bills before they’re due.