MoneyMagpie is all about saving money wherever you can, so you can invest it or have a more comfortable financial situation. As the cost of living shows little sign of going down any time soon, it’s time to look at ways to cut utility bills to reduce monthly outgoings.
Finding amazing deals is the obvious one – but there are lots of ways to save on your water, electric, broadband and gas bills each month.
Get a Water Meter
Most homes are rated by an estimate provided by the water company. This is based on a range of data, such as the size of house. However, these ratings can wildly overestimate what you actually use.
If you live in a larger house just yourself or as a couple, it’s likely you’re using a lot less than your water company thinks. Meters provide an accurate measurement, so your water bills only charge for the water you use.
Meters are ideal for low users or those who have more bedrooms in their home than people. A meter can be installed both for homeowners and renters – you don’t need permission from your landlord, but it’s good to let them know as it does affect their property.
Install Water Saving Gadgets
From cistern bricks to shower timers, there are a number of water saving gadgets that will significantly reduce your usage. They’re particularly useful if you live in a busy household and you’re on a meter, but everyone could benefit from reducing their water use.
Save Water Save Money has all kinds of devices, from tap flow adapters to cistern packs to reduce water volume without impacting flush pressure. And the best bit is they’re totally free! The website will direct you to your regional scheme after a short survey. You could also apply for a discounted water butt to save on water use in the garden.
Fix Your Energy Tariff Now
With the energy price cap lowered from July 2024 until at least October, now is a great time to lock in a lower energy tariff. It’s so easy to let your energy bill arrive every month and assume it’s always the best deal. Many people stay on the same tariff with the same supplier year in, year out – and it could be costing you more than you think.
Take meter readings every month, too. Suppliers use estimates which can be much higher than your actual usage, but with a regular reading you’ll inform their data. This means your direct debit goes down as an accurate picture is created of your annual usage. If you don’t pay by Direct Debit, consider doing so. It will often mean paying less than payment on receipt of a bill. Some people find smart meters help them keep on top of their bills more easily as they can see their daily usage, and it could unlock some lower smart meter-only tariffs, too.
Be Savvy with Energy Usage
Look for tariffs that offer lower rates at off-peak times. You could use these times to run your washing machine and tumble dryer (if it won’t disturb your neighbours) to save on regular high-energy appliances. Charge appliances with timer plugs, too. Set your laptop, tablet, and phone to charge at night during the lower-tariff time with a timer plug.
This way, you’ll benefit from using the cheaper energy rate and be able to use the battery life of appliances during high-rate times – especially if you also charge a powerpack or two at the same time, to keep you going during the day.
Bundle Your Broadband
Do you enjoy extra Sky channels for your TV? Perhaps you enjoy Now TV subscription. Or maybe you’re a die-hard Netflix fiend. These days, many television and streaming deals can be bundled together to net a better deal than paying for them separately.
When it’s time to renew your broadband contract, shop around to find out which offer suits your needs best. Some might include mobile phone discounts too, which is great for families with several phone contracts under one roof.
When you’ve found a good deal, if you like your current supplier, it is always worth calling them before you switch to see if they’ll match or better it, too.
Check Your Council Tax
One of our highest monthly bills is Council Tax – but you could be missing out on discounts. If you live in a household with only students, you’re entitled to a full reduction. If one person in the house is not a student, they can claim the single person discount of 25 percent off the bill. If more than one person is not a student, they’re liable for the full amount. You could be entitled to a Council Tax reduction if you receive certain benefits such as Universal Credit. However, the reduction is not automatic when you get benefits, so you need to apply to your local authority for a reduction.
If someone in your household is severely mentally impaired (such as with dementia), you could claim a discount. Finally, if you live with someone who doesn’t qualify for Council Tax but you’re responsible for the whole bill, you could apply for Second Adult Rebate. The rules are quite complicated, so check out Citizens Advice for a handy guide.
Use Cashback Sites to Switch
Finally, one of our favourite tips to save money on your regular bills is to shop around to compare – and use cashback sites when you’ve found the best deal. Cashback websites like TopCashBack, Quidco, and Swagbucks will pay you a small amount of cashback if you switch supplier through them.
This is either if you use a compare service via their website, or if you go direct to a supplier to switch. Check which option gives you the best cashback deal to maximise your savings before you commit.
Some of the brands and websites we mention may be, or may have been, a partner of MoneyMagpie.com. However, we only ever mention brands we believe in and trust, so it never influences who we prioritise and link to.
