Personal finances have always been the driving force behind household decisions and this means that saving money is always a priority. One of the main areas of financial expenditure within a home is that of energy and electricity costs – so how can individuals lower these?

The most important thing to remember about lowering heating and electricity costs is that it should not be achieved by the sacrifice of comfort or safety. There are many ways in which households can save money on these expenses without compromising their personal comfort.

 

1. Turn Down Your Thermostat

According to the Guardian* , turning your thermostat down by just one degree can save as much as 10% on your annual heating bills. This can amount to a saving of £40 each year, helping you to keep your energy bills low. Individuals should therefore always ensure that they do not heat their homes to extreme temperatures but rather to a comfortable, lower temperature.

2. Install Double Glazing

Having double-glazed windows fitted in your home can also save you money. These cut heat loss through windows in half and, according to the Guardian** , can incur savings of between £80 and £100 per year.

3. Don't Cover Radiators

As heat is emitted from radiators covering them will limit the distribution of heat. This will mean that it will take longer for the room to reach the pre-set temperature, meaning that your radiators will be on for longer and will therefore incur higher bills.

4. Be More Energy Efficient

Nowadays, all devices which use gas or electricity will usually come with an energy efficiency rating. The more efficient the product is the less energy it will use and the lower your bill will be. Investing in these products and using them efficiently (by turning them off when not in use, etc.) can therefore help you to improve your personal finances and your carbon footprint.

5. Replace Your Boiler

Inefficient or faulty boilers can lead to poor performance levels and higher costs. Investing in a new, more energy efficient boiler can therefore help you to save money. In fact, the Guardian***  reported that changing your boiler for a high-efficiency condensation boiler could lead you to save as much as £200 a year.

6. Be Consistent

Heating an area that is not used or having your home heated when there is no-one there is a waste of energy and money. Make sure you are consistent with how you use heating and appliances and ensure that you are always being as efficient as possible.

7. Invest In Insulation

Insulation can be obtain for wall cavities, lofts and even under flooring. These areas are the main culprits for heat loss and having them insulated will improve your home's heat retention and lower your energy costs.

8. Change Suppliers

Energy and electricity suppliers will offer different prices and changing supplier could see you make savings. Customers should always compare prices before making a decision and see what options are available.

9. Change Tariff

Supplier themselves will often offer different prices as well. These tariffs will generally vary depending on the amount of energy used and how you intend to make your payments. Always give these factors thought before making your decision.

10. Service Your Boiler

According to Carbon Trust , failing to have your boiler or heating maintained can add as much as 10% to your heating bills. Having these checked annually and investing in boiler cover could help you to stay protected and save you money.

* http://www.guardian.co.uk/money/2008/jun/17/householdbills.consumeraffairs

** http://www.guardian.co.uk/money/2008/jun/17/householdbills.consumeraffairs

*** http://www.guardian.co.uk/money/2008/jun/17/householdbills.consumeraffairs