How to save money in the summer: Bills

As I write this post, we are currently going through some serious pricing issues and a heatwave. Inflation is above 9% and the price of everything is extortionate, the temperatures are reaching 40˚C. I am not a financial advisor, but I am happy to share the knowledge I have acquired and share my practices. This will focus on saving money on utility bills in the summer.

To save money, budget

If you want to save money, you must track your finances. The best way I found was to have a budget. The budget helps to identify where the money is going, where it shouldn’t be going but still is, and where its not going. Having a visual representation of your money, can allow you to be aware of what it’s doing for you.

You can set up a budget with anything. You can create one in excel (like me). Or you can find apps or pre-made templates online too. Either way, you can see what your money is doing each month.

Bill quotes

After setting up the budget, you can check for quotes on your bills on price comparison sites. Probably not that great right now, due to the increase in price caps for gas and electric every so often, but it doesn’t hurt to look. When I moved places, my new place was under a different provider from the one I wanted to be a part of, so I changed it. I was lucky like that, but sometimes you aren’t but your provider might have different tariffs, and it might be worth changing to something more suited to you.

However, some do sell a fixed rate (paying the same amount each month), but this won’t necessarily cover your actual usage. In my nightmare place, I paid £54 per month for gas and electric for 3 months. In those 3 months I had used over £400 of gas and electric. I was then in debt, and thus began my 6-month journey to get myself out of that pit. So, unless you have a smart meter and know how much you’re using, don’t assume that your fixed rates truly cover you, because you will get a shock when those bills come through.

Note: Make sure your provider is getting monthly meter readings to get accurate usage from you, whether it’s a functioning smart meter or you are doing it manually.

Change of behaviour

So, you have your budget to see how your money works, and you have purchased your tariffs. Now what’s left is to see what your behaviours are, and if they are covered by your tariffs.

Water

It is known that dishwashers use up less water than hand washing dishes in your house (This fact only applies to how frequent you use the dishwasher/number of dishes to wash). What happens if you don’t have one, like most places you rent?

• Don’t wash your dishes with the water running (that is literally going down the drain)
• Reduce the length of your showers where you can (I aim for 5 minutes; it’s always going to be longer on a hair wash day)
• Use the washing machine when you have a full load to wash
• Don’t leave the tap running when brushing your teeth

These are suggestive ideas. I’m sure there are other people on the internet who can show you how to recycle rainwater. Or to set up a water tank in your attic. I don’t go to those levels for saving money on my water bill, but they might be helpful to you. One important thing, is if you can, get a meter. Water your normally charged a fixed rate, but if you’re by yourself or use very minimal water, then that fixed rate would be too much compared to what you use. Why not pay for what you just use? That would be a good way to save a little dollar.

Electric

This is self-explanatory, such as switching off lights when you’re not using the room, or unplugging appliances. However, there are other things to consider:

• Using a slow cooker to meal prep for the week, overnight (cheapest electricity rate plus a week’s worth of meals made in 1 pot)
• If you know you’re going to a room frequently, then don’t switch off the light. The energy used to keep switching on that bulb, will outweigh just keeping the bulb on, for the time you need it. Just be mindful on that one.
• Phantom electricity is a thing, so any appliances you’re not using, defiantly unplug them. If you need to buy new electrical good, consider looking at the energy rating of the appliance. It might be more expensive now, but it can save you money in long term bills.
• Using your washing machine on a lower temperature. If you don’t have specific allergies to laundry detergent, you can purchase the kind that works at low temperatures. This means your washing machine uses less electricity to heat up the water.
• I live in a flat, so I have a water tank. They are designed to heat up the water using the cheapest tariff (overnight). However, you are responsible for setting the clock for it to follow. So just give yours a check that its clock is set correctly.
• Switch off your storage heaters.
• Meal prep. You use most of the power at one end of the week, and then that’s it. Plus, you save on time during the week. It’s a win-win.

Gas

• Meal prep means you use what you need at the beginning, and then a minimal amount during the week, plus you save for yourself. Win-win
• For a boiler, having shorter showers helps too
• Lower the temperature of your radiators in summer, there is no need to heat up that water.

If you notice that what you use is too expensive, then I’d consider adapting your behaviours to something more sustainable.

These are a few things I have learned to do in this heatwave, to reduce my money on bills. Just note, in the summer you typically use less (gas and/or electric), so you will be paying more generally. However, the hope is that you compensate that by using more in the winter. To save money, don’t withdraw all your excess money from your bills account, take it gradually in installments. Enjoy!

Moral of my story:

• Set up a budget– If not for this, just for your sanity
• Explore your options before settling
• Change your behaviours– Even just by a little bit can make a difference to your wallet and the planet, and that’s what we want.
• Withdraw in installments if you’re in credit– this allows a cover for months that you overspend on utilities and you still get some cash in your pocket.