As any homeowner paying off a mortgage will know, lowering everyday costs wherever possible can make a big difference to their outgoings.
It is often the case that people neglect to carry out the simplest of cost-saving measures, which should give them a little extra cash to help them through the month.
Mortgage payments tend to be one of the biggest expenses that homeowners face, so boosting savings can only have a positive impact on their ability to repay their lender.
Here are some common ways that people can reduce their monthly costs without making drastic changes to their home.
Turn down the thermostat
Lowering a thermostat by as little as one degree C can lead to significant savings on heating bills. Figures from the Energy Saving Trust show that the average bill should decline by ten per cent, giving homeowners an additional £60 in their pockets each year.
Avoid leaving appliances on stand-by
Although the stand-by feature on electrical appliances can seem useful, the truth is that it is adding as much as £30 to the average household electricity bill. Switching them off completely can lead to noticeable savings.
Switch to energy saving light bulbs
Light bulbs have improved significantly over recent years – some of the most inefficient models have now been discontinued. By changing all their light bulbs to energy efficient versions, homeowners can save as much as £55 over the lifetime of the bulb. They also last considerably longer than older models.
Don’t overfill the kettle
One of the most common ways of running up electricity bills is by filling the kettle too high. Although it is important to make sure the heating element is covered in electric kettles, only boiling as much water as is needed can have a positive outcome on household expenses.
Wash clothes at 30 degrees C
Using a washing machine at 30 degrees C can be just as effective as it is ten degrees higher. There are even washing products these days designed to be used at lower temperatures – and energy bills will show a difference as well.