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Money Saving TipsBy reviewing your living expenses, like your mortgage, debts and phone costs and by shopping around you can make the informed choices that can save you cash. Review your MortgageOur homes are one of the most expensive purchases we are likely to make, so it makes sense to get the best possible deal on the repayments. If you are paying the full standard variable rate (SVR) on your mortgage you could save yourself money by changing to a more competitive mortgage. With the succession of interest rises recently, fixed-rate mortgages have become popular - it can be helpful for budgeting. But remember these mortgages are usually set for a limited period of time. We are becoming used to shopping around for services, and this should include mortgages. There is no need to feel tied to your bank or building society, they are offering a service and you need to find the best for your situation. You should always check carefully for any financial penalties that may be incurred before changing lender. Check your Bank AccountIt is worth checking that your current bank account is the right one for you. A recent survey revealed that 52% of those with a bank account are missing out on earning up to an extra 3% interest on their bank balance, or are paying more than 12% too much interest than they need to on their overdraft. You can still change banks even with an overdraft, as your new bank will move the overdraft into your new account. When you transfer some banks offer a low, or even zero interest on your overdraft for a specified period. Check out the current accounts offered by the various banks and building societies with the online comparison sites. It's a very competitive market, so take advantage of the many offers available and start saving money. Cut your Fuel Bills By making the right choices with your energy services and how you use them in your home, can help you save money and help conserve our planet. All the fuel we use, such as electricity generated from coal, oil or gas, releases carbon dioxide (CO2) into the atmosphere contributing to global warming. By insulating your house and reducing your heating costs you can have a significant impact on the amount of energy you use and save money into the bargain. Energy-saving Grants There are lots of grants available from the local authorities to help
with such energy-saving improvements in your home as: Gas and Electric Providers The domestic energy market is a very competitive one, and it's easy to change your supplier to take advantage of a better deal. Before you decide make sure that as well as a competitive price the supplier is offering a good service. You can easily check on one of the many energy comparison sites online to help you make the right decision. On average, you can generally save £150 by switching your supplier, but it is dependent on where you live and how much energy you use. Customers can usually gain discount by opting for a direct debit payment. It's important to monitor that you are not overpaying, so keep a check on your payments and if necessary ask for a reduction. Double Glazing Improving the glazing in the home is the most popular way to save energy and Upvc frames require considerably less maintenance than wooden windows. Double glazing can help reduce heat loss and works by trapping a layer of air or inert gas between two sheets of glass, creating an air barrier. Professional double glazing can be very expensive, however, if you're working to a budget and need to save money you can achieve results with the inexpensive do-it-yourself kits which are now available. The insulating properties won't be as good as replacement windows, but you can still reduce drafts and keep your home warmer for just a few pounds and a couple of hours work. Insulation Another proven way to save energy and money on heating bills is to insulate your home. Up to a third of your heating is lost through the roof, ceiling and walls. Efficient loft insulation can help you to save 20% on your heating bill. The insulation should be a minimum depth of 150mm (6 inches) - and preferably 200mm (8 inches). Wall insulation can reduce the heat loss in your home by two thirds. If your hot water tank does not have sprayed foam on the outside fitting a thick insulating jacket will reduce your water-heating bills. Energy-saving Bulbs Low energy, energy efficient and energy saving light bulbs can save you money and energy. They use about 25% of the electricity of tungsten filament ordinary bulbs and generally last eight times longer than ordinary bulbs. If we all made just this small change to our lighting needs it would have a big impact on the UK's emissions. A recent study found that if every household in the US replaced just three ordinary light bulbs with energy-saving bulbs and used them for five hours a day, it would reduce carbon dioxide emissions by 23 million tonnes. Turn it down Turning your central heating controller down by just one degree centigrade
will save energy and cash, generally 10% on your bills. Water-saving tipsWe can all save water by making a few changes:
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