The coronavirus pandemic has affected thousands of people, with finances hit hard.
People have lost their jobs or had their hours cut, and as we spend more time at home our electricity and heating bills continue to rise.
Lots of us are looking for ways to save as much cash as possible and there are simple ways to cut the cost of your bills.
From switching supplier to applying for grants there are several things you can do to save an estimated £1,350.
These tips from Ocean Finance shouldn't take too long and can be all done online, meaning you'll be able to sort them during lockdown.
Here's five simple changes you could make to save yourself some cash.
1. Switch your gas or electricity provider
It doesn’t matter if you rent or own your home, as long as you pay for your own gas and/or electricity, there could still be a saving to be made.
It only takes a matter of minutes to do using price comparison websites like Uswitch or Compare the Market.
The average household saves £300 per year by switching their gas and electricity provider.
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2. Apply for the Green Homes Grant
If you’re a homeowner or landlord in England, you have until 31st Match 2021 to redeem a Green Homes Grant voucher.
The scheme is designed to encourage you to make energy-efficient heating improvements to your home over winter, such as additional loft insulation or replacing single glazed windows with double-glazing.
The government are offering to foot two-thirds of your bill up to £5,000 per household, or up to £10,000 per household if you’re on low income.
The average household will save £600 on their energy bills, each year.
3. Install a water meter
Water meters calculate your bill on how much water you actually use and can, therefore, help you save money when compared to a rateable billing, where you can a set amount per year, regardless of how much you actually use.
Water meters are also free to install so it may be worth asking your prover to switch you over.
The average household will save £75 on their water bill each year by installing a meter.
4. Switch insurance providers for your home insurance
The average household has saved £82 on their home insurance, each year by bartering a better deal with their home insurance provider.
To increase your chances of getting a good deal, check comparison sites for quotes before you ring up your provider. You can then discuss these quotes on the call, as evidence that you can get a cheaper deal elsewhere.
Also, make sure to only get the cover that you need. If you rent, your landlord should be paying for the buildings cover, so you only need contents insurance for your personal possessions.
Try to pay upfront if you can as paying monthly can cost you more as you may be charged interest for instalments.
5. Switch insurance providers for your car
The average driver can save £393 on their car insurance, each year if they switch their insurance provider three weeks before the renewal date.
By doing this, the average policy will be reduced to £518.16, down from an average of £911.67, should they have left it until the day of renewal.
