I have a revelation. By being a little more diligent and changing the suppliers of our utility bills, specifically gas and electricity we have been able to save £65 per month, £780 on an annual basis on our household bills. I won’t lie, I wasn’t sure it was actually true or that it could be that easy. Simply by changing two suppliers we really have made a huge saving. Imagine what we could do if we reviewed them all?
So tell me. When was the last time you looked over your household bills? Not glanced but delved a little deeper. It wasn’t until we had the ‘household bills’ conversation with friends that we realised just how foolish we had been. We blindly believed that we had the best deal, that our suppliers who we had given our business to for over five years were honoring us with the best prices. A reward for our loyalty. That was not the case.
Santander introduced me to this really interesting info-graphic. We were one of these statistics…
They recently held a survey and found that 26 per cent of households don’t read their utility bills properly and over a million households don’t open their bills at all! Wow.
In a world of increasing costs of living, rising bills, less frequent salary reviews I couldn’t quite believe it. Actually, I could. It was us in 2014. Once we realised that there was an opportunity to save money, to control a cost saving Mr H, who is the money man in our house took straight to his spreadsheet and of course our bills. There aren’t many outgoings which have such a variable nature. So Mr H set about his research on where we could save money.
It got me thinking. We discovered how easy it was to make a significant saving by exploring our options. I thought I would share our top tips for saving on household bills with you…
- Investigate. After just a little digging it became apparent that on average we were paying nearly £70 more per month than necessary on just two utilities.
- Approach your current supplier for a review of your policies.
- Don’t be afraid to change suppliers. Your new suppliers will do 90% of the work for you.
- Get more than one service from a provider.
- Give up what you don’t need (landline, extended warranties, mobile phone cover, the sports channel!)
- Pay your bills via direct debit (more often than not you will receive discounts on your annual bills)
- Manage your accounts online, you can save money by opting out of paper bills
- Utilise all of the reward benefits you receive when signing up to a service or provider
- Online grocery shopping (get what you need!)
- Look at other options like your Bank Account, there may be cash back savings available
Santander introduced me to their 123 Current Account which can save you up to 3% on your household bills. Getting money back when you spend. When I looked into this a little further I noticed that there is a really helpful Cashback Calculator which breaks down the cash back available on your household bills such as Council Tax, Gas, Electricity, Water, Mortgage Payments, Phone, Mobile, Broadband and TV. Could it be that simple? I believe it is. There is also a handy ‘frequently asked questions’ section.
I hope my Top Tips have helped you to think about reviewing your current household bills. I would love to hear of your money-saving tips or if you managed to save any pennies.
Disclosure* I am working in partnership with Santander on this post.