Five simple changes which will help you save £1,350 on bills a year

Thanks to the events of the past year, it's never been so important to be careful with your money.

Not only do the first few months of the year seem to drag, most people are suffering from overspending at Christmas but turning their heating on more often due to the cold weather.

As well as paying rent, doing weekly food shops and maintaining monthly direct debits, household bills are another outgoing that can easily add up if you're not careful.

With many Brits trying to budget better than ever, Ocean Finance has pulled together five of the easiest ways in which you can save up to £1,350 on your annual bills with just a few simple changes.

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 enquire about it using price comparison websites like Uswitch or Compare the Market.

The average household saves £300 per year by switching their gas and electricity provider.

Apply for the Green Homes Grant

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If you’re a homeowner or landlord in England, you have until March 31, 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 pay two thirds of your bill up to £5,000 per household, or up to £10,000 per household if you’re on a low income.

The average household will save £600 on their energy bills, each year.

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 provider to switch you over.

The average household will save £75 on their water bill each year.

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.

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.

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