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Low-cost ways to save money this new year as outlined by sustainability and money-saving platform - London TV

Low-cost ways to save money this new year as outlined by sustainability and money-saving platform

The cost-of-living crisis was a defining event of 2022 with energy bills being amongst the largest shock to families’ monthly outgoings and being the worst culprit driving UK inflation. Currently shielded by the Energy Price Cap Guarantee, which caps consumption for an average household at £2,500, until April when the cap will be increased to £3,000 which means households will have to continue to be wary of their usage.

Mark Sait, CEO/founder of the nation’s leading online money-saving and sustainability platform, SaveMoneyCutCarbon, discusses the need to change the way we use our energy this year in a feat to reach our net-zero goal by 2050.

He says: “What needs to happen is finding a way to be smarter with energy use. This can start with the least cost-effective way – behaviour. I.e. not just turning your heating off but checking when your timer is set, and switching off appliances/boilers that aren’t in use. Or, it can be low-cost, sustainable swaps.

“The most obvious is a swap to the LED lightbulb – you will be using fewer units of energy and it works out to be a big saving. Small changes make a big difference. Not everyone can afford big solar panels, electric cars and so on, so education, behaviour change, community and coming together will make the biggest difference. There’s always more to be done on our end – people just need the facts to know where to begin.”

Addressing the small and subtle changes that anyone can make within their home, SaveMoneyCutCarbon has outlined its top 5 suggestions to help save hundreds on their energy, water and electricity bills.

Switch off your appliances
It is estimated that “vampire energy consumers” are costing homeowners up to £95 on their annual bills. Research from SaveMoneyCutCarbon, suggests the average amount of energy consumed by gadgets on standby or in a non-active state is between 9% and 16% of a home’s total energy bill. Therefore, the money-saving experts suggest the easiest way to stop wasting energy and cut your costs is to unplug devices from the wall and plug them back in just as you are about to use them. You may also consider purchasing an inexpensive extension power bar with an on/off switch so you can turn off several appliances at the same time.

Try a water-displacement bag
With more parents working from home to mind their children, there has been a notable rise in water use, so, conserving water where possible is vitally important. Research shows flushing the toilet is responsible for up to 90% of water consumption in commercial environments. Therefore, the Save-a-Flush displacement bag is a simple way to save thousands of litres of water every year, and the best part is it’s under £3! It works by displacing water in the cistern to save you 1 litre of water each time you flush your toilet. Overall, this easy-to-fit and zero-maintenance device can save you an average of 4,800 litres a year.

Switch to LED and save up to £100
LED lighting is the smart choice to help you save energy and reduce electricity bills. LED lights typically use less than a fifth of the power of traditional incandescent lamps. A typical household can save £150 a year by converting to LED – and these come in a range of warm, dimmable and coloured settings. By swapping out the energy-guzzling traditional bulbs with LED lights that consume 10 times less electricity (a 6W LED equivalent), running costs per LED light will be 7.3p per day, 51p a week, £2.19 a month and £26.65 a year and £239.80 a year for a medium-sized house.

Change your laundry routine
With children, the number of laundry loads is likely to increase. However, washing half loads frequently will use up excess water and energy, so waiting until you have a full load is much better. If it’s unavoidable, then see if your machine has a half-load programme. SaveMoneyCutCarbon recommends selecting a cooler temperature whilst chucking in an Eco egg laundry egg which works to reduce your tumble-drying time up to 28%. They work by gently separating your clothes, allowing more air to circulate so they dry quicker. Plus, it can reduce your plastic usage as it can be used again and again.

Download their money-saving app
The free SaveMoneyCutCarbon Home app is designed to make sustainable living as easy as possible, helping you learn about eco-friendly swaps & everyday tips that help you save money. According to SaveMoneyCutCarbon’s sustainable living expert, Kirsty Brandon, the five problem areas that are the worst contributors to a high carbon footprint include food waste, toiletries, cling film, plastic toothbrushes, and inefficient lighting. The app delivers an extensive overview of education-backed swaps from their ‘Learn, Shop and Save’ programme. The free app helps you identify products around your home that aren’t very eco-friendly and provides you with greener alternatives, compiles a personalised list and transfers you to the SaveMoneyCutCarbon website for a quick checkout.