How to save money around the house

March 7, 2012

Everyday costs like heating, electricity and grocery bills can always be driven down by making some judicious changes around the home. It’s easy to forget about draughty windows, outdated appliances or insulation-free lofts, but tackling these things sooner rather than later can have a dramatic effect on how much you’re paying to run your house. It’s also worth having a look other regular costs, such as home insurance, and see if you could be paying less by switching to another company like Castle Cover House Insurance.

Outdated electrical appliances and boilers are some of the biggest culprits when it comes to high energy bills. Although the initial outlay can be discouraging, look at it like this: if your refrigerator is more than 15 years old, buying a modern one could save around £3 on energy bills every month. This might not sound like much, but assuming you pay £360 for a new fridge, that’s a ten per cent tax-free annual return on your investment – better than a savings account!

Another great way to get more out of your home is to make sure it’s insulated properly. So much heat is lost through your roof, and spending a day putting down mineral wool sheeting can save you up to £175 per year, according to the Energy Saving Trust. Considering the materials and installation generally costs between £100 and £350, this job pays for itself in two years or less – you can even apply for a grant from your local authority to help with the initial costs.

Finally, we throw away a lot of food every year as a country, and individual households can all do their bit to reduce this waste – while saving a bit of cash on grocery bills. If you’re regularly throwing away out-of-date food, consider making a record of it and comparing it to your shopping list the next time you go to the supermarket: chances are you’ll find you’re buying more than you need. There are all sorts of cooking sites that show all the wonderful things you can do with leftovers, another great way to save money!