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Household products we lose money on
Hunting out the best possible bargains on household products can shave hundreds off your monthly utility bills and keep unexpected costs at bay. Chloe Addo names the household products we lose most money on
Heating
An inefficient boiler and heating system could cost householders over £240 worth of gas every year, claims Gary McCausland from the property programme How to Be a Property Developer.
Out of date boilers waste energy, create high energy bills and, during cold winter months, make living extremely uncomfortable.
He adds that homeowners should not think of installing a new boiler as expensive or unimportant. He explains: 'People are increasingly aware of the cost of out of date boilers, both in terms of higher energy bills and the impact on the environment.
'A new heating system is an investment which can create value twice the cost of the installation.'
If your heating is mostly switched on but your home still feels cold, you may want to investigate your current roof insulation, as up to 25 per cent of heat loss can occur through lofts.
Electricity
To cut the cost of electricity bills home owners are advised to invest in a Grade A energy efficient washing machine. This is because they use less water and therefore less electricity.
Avoiding the use of a tumble drier is also highly recommended as they use a high amount of energy. Instead, go back to basics and use a clothes drier, airing cupboard or washing line.
In addition, modern fridges are more energy efficient than older models. So much so that fridge owners could save up to £60 a year with an upgrade. However, if your fridge is pretty new, make sure you don't have the door open for longer than needed.
Lastly, Norwich and Peterborough Family Budgeting Guide urge home owners to 'turn it off', ensuring electrical goods are switched off and items such as televisions, DVD players and computers are not left on standby. The study claims this can save you around £20 a year on your electricity bill.
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