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5 ways to lower your bills over the winter period

Written byKoyo Loans
Last Updated27th October 2022
Contents
  • Consider government assistance 
  • Invest in a smart thermostat 
  • Insulate your home 
  • Replace all inefficient light bulbs
  • Turn all appliances off standby 
  • Final thoughts 

Throughout 2022, utility bills have skyrocketed for families throughout the UK. During the winter months, bills typically go up due to an increased reliance on heating. While you can’t do a great deal about the tariffs that energy companies are charging, you can take some simple steps to lower your bills this winter. Here are some easy ways to save money that all homeowners can try. 

Consider government assistance 

In spite of the huge increase in energy prices over the past year, there are various schemes available to homeowners looking for help with paying their energy bills. Some of the options for government assistance include: 

  • The Energy Bills Support Scheme – Every household in the UK should receive a £400 payment from October 2022 to help alleviate the burden of rising fuel prices. 
  • Council tax rebate – Homeowners who pay council tax in bands A to D may be eligible for a council tax rebate of £150. 
  • Winter fuel payment – UK residents born before 26th September 1955 are eligible for a one-off annual winter fuel payment. 
  • Cold weather payments – Some UK residents are eligible for cold weather payments when the temperatures drop below a certain level.

While you might not be eligible for all of these schemes, it’s worth checking them out to see if you can receive government assistance for paying your bills this winter.

Invest in a smart thermostat 

If you haven’t done so already, consider investing in a smart thermostat so you can remotely manage the heating of your home. Smart thermostats enable you to adjust their settings depending on the weather forecast, and all you need is an internet connection. Which estimates that investing in and using a smart thermostat can save you up to £75 per year, so it’s a worthwhile investment in the lead-up to winter. 

Insulate your home 

If your home is poorly insulated, it can cost you hundreds of pounds a year in wasted energy. If you have a loft space or cavity walls, it’s really important to insulate them to keep the heat in during the cold months of winter. Insulating your home is a home improvement project that you could potentially fund with an affordable unsecured loan. You can then reap the rewards at the height of winter and benefit from the savings that you make on your monthly energy bills.

Replace all inefficient light bulbs

Research shows that the simple act of replacing inefficient light bulbs can save you £180 per year on your energy bills. Halogen bulbs are incredibly inefficient and cost significantly more than CFL and LED light bulbs to run. LED bulbs have a lifetime of around 25,000 hours and use almost 90% less energy than a traditional incandescent. As energy-saving tips go, replacing your light bulbs is a no-brainer. 

Turn all appliances off standby 

Leaving appliances like TVs and game consoles on standby can cost you up to £147 per year. Granted, it’s all too easy to hop off the sofa and press the red button on your TV remote to shut down the device, but the reality is that it’s still consuming power that you’re paying for. Make the extra effort to turn the TV and other devices off at the socket, and you can save a lot of money each year. Make sure your family members get into the habit of doing so, too. 

Final thoughts 

While energy bills don’t show any signs of reducing in the near future, you can take steps to lower your bills this winter. We hope these five tips help you to save money and free up some funds to spend on your loved ones this Christmas. 

Koyo Loans is the trading name of BETR Technology Ltd. Company No. 11483187. Registered Office: Huckletree Soho, Ingestre Court, Ingestre Place, London, W1f 0JL

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