Index Digital Money Saving Ideas for London, Kent & Sussex
As costs continue to rise we look at ways across the board to try to make your money go further with these top money saving tips...
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According to new research from the Money and Pensions Service (MaPS), over a million people across the South East have no savings and another 350,000 have less than £100. The survey of 365 adults, carried out for Talk Money Week (7th-11th November), shows that one in seven (14%) have nothing put away and another one in 20 (5%) have £100 or less. This leaves a fifth of adults in the region living without a financial safety net to cope with the rising cost of living or unexpected bills, meaning some may have to use credit.
During Talk Money Week, MaPS is encouraging everyone to open up about money, plan for their financial future and take free debt advice as soon as they need it. The organisation says its MoneyHelper service can be people’s first port of call, offering free guidance on topics like everyday money, savings and where to find free debt advice. It also provides a range of information on dealing with money issues, including step-by-step guides on how to talk to your creditors or discuss money with family and friends.
With all this in mind it makes it even more important to keep on top of our finances as we all strive for ways to save money and make the money we do have go further. So here at Index Digital we have compiled some tips from a variety of sources to bring together a one-stop guide to ways you can cut back on your costs.
Energy costs
The first place to start is assessing the energy usage in your home. What do you have plugged in and more importantly does it need to be? You could be using up energy without even realising it and on something you would not miss if you simply unplugged it.
For example, although switching off your TV rather than putting it on standby will save you a minimal amount of money, why waste any electricity when getting up and hitting the off button takes so little effort? – and with every penny counting it’s money you can’t afford to be losing. Added to that is the fact that we all need to be looking at ways to help the environment too.
Another tip is to ensure you only have lights on in the rooms you are using – it may seem an obvious idea, but as we move around our homes during these long winter months it can be easy to forget to switch lighting on and off as we go.
There are also energy efficient switches you can make to save money. For example, consider fitting your home with energy saving light bulbs, getting a lagging jacket to insulate your hot water tank, look into solar ovens which use just the light of the sun to cook food, meaning no energy is required, or fit a water saving shower head. Stephen Murray, energy expert at MoneySuperMarket, commented: “Energy bills are one of the most significant regular payments made by any household, regardless of your living situation. If you’re looking to make some savings, you don’t have to make big changes to your home – simply switching to energy saving light bulbs can be a good starting point.” For more information, visit moneysupermarket.com/gas-and-electricity/renewable-vs-efficient
Heating tips
While the most well known tip when it comes to heating is to just reduce your thermostat by one degree to see some savings, there are other ways in which you can cut costs. Consider only heating rooms you use to reduce useage and as soon as the sun goes down shut any curtains to keep the colder air out. Next, check your home for any draughts and block them up, this may mean getting a draught blocker to put at the bottom of the doors of rooms you are not heating, to sealing up cracks around window joins or your front door.
Here James Lloyd, Design and Specification Consultant at Wunda Group, the 5 Star Trust Pilot Rated British heating experts, shares his tips:
- Check your insulation: Ultimately, any heating system is going to either underperform or cost you more money due to a longer running time if your home isn’t properly insulated. We can lose up to 25% of heat through the roof of an uninsulated home, so this is a great place to start to help save on costly bills. Ensure your home is properly equipped to retain the heat you’re using, including investing in triple or double glazing and eliminating any draughts.
- Explore underfloor heating: Underfloor heating (UFH) can be an incredibly efficient and cost-effective system for the home, with minimal installation requirements and very little maintenance overall. UFH systems are built to last and come with a 50-year warranty on pipes and boards.
- Zone your heating by installing a smart system: An effective way to help manage rising energy costs – and to keep the whole household happy – is by zoning your heating. With the WundaSmart system, different rooms within the house can maintain different preferred temperatures. Keep your home office warmer throughout the day than the rest of the house, or maintain a cooler temperature in the bedroom in the evening while the living room is the right amount of cosy.
- Research heatpumps: Consider partnering underfloor heating with an air-source heat pump for the ideal spread of heat throughout rooms. Using an on-demand system like WundaTherm is the perfect accompaniment to a heat pump as it can be controlled to be on or off, much like a radiator. When installed correctly (outside of your home, with plenty of room for airflow), a domestic heat pump could reduce energy by up to two thirds, meaning lower energy bills. Just bear in mind that you’ll need a lot of outdoor space for installation and it will require a partner such as underfloor heating to ensure your home receives an optimal temperature.
- Ditch electric heaters once and for all: While they can be convenient, the costs associated with an electric heater can soon add up. If you find yourself turning to an electric heater regularly, consider why. Perhaps your house – or a particular room – are not well insulated, meaning heat escapes easily so you feel the need to boost it more often. Make sure doors are closed and, as well as loft and cavity wall insulation, consider adding rugs and soft furnishings to your space to trap warmth.
If you are looking for ways to keep warm without turning your heating on, then the top tip is layers. Wearing multiple items of clothing rather than one thick item will trap air more efficiently and keep you warm. A hot water bottle is also a great way of giving yourself warmth if you are home alone and don’t want to put the heating on just for one person, or making yourself a warm drink. Also think about your habits, doing housework works up a sweat, so try to do it during times the heating is off to use as a way to keep you warm. And the same applies for any exercise routines you do at home.
In the kitchen
Cooking
Joe Authbert, Buying Manager at ProCook says: "When it comes to cooking, there are small things we can do without any additional cost: keeping the lid on pans whilst cooking to retain heat; using the smallest pan you can so you only need to heat just the right amount of food or liquid; turning the heat down once you've got your dish to temperature; cooking on a lower heat.
"If people are able to opt for alternative small and large appliances to help save money in the long run, I advise that they choose induction hobs and induction kettles which are more cost-effective and waste less electricity. Further, cast iron pans don’t require high heat settings to cook food and hold their heat well once at temperature, so this might be a money-savvy investment.
"For consumers who move to a house with an induction hob or want to try a portable induction hob, but don’t have the money for new induction cookware, this induction converter can allow people to use their existing pans."
Food shop
Also take a look at your food shop. While you might have a regular store you shop in, it may not be the most cost effective way of getting your weekly food. Shop around and see what offers competitors are doing on the basics you buy regularly. Shopping for certain items in different stores could save you money, but bear in mind where the stores are and whether the cost of petrol and time spent will outweigh the money saved.
Planning your meals for the week is another good idea, as if you know exactly what you are going to have you shouldn’t have any wastage, which will mean not only is your money not going down the drain, but it is not filling up our landfill sites either. Conversely, if there are items you buy that have a long lifespan, then consider buying in bulk.
It is also worth checking out store’s ‘own’ products as often they are cheaper than branded items – and for basics such as pasta, bread and cheese, will you even notice the difference?
Think tactically as well. What time do you do your shop? Often nearer store closing times fresh items will be reduced so that they are not wasted and you can get some great deals. Also head for the reduced aisle as you can get perfectly good items cheaper just because the box is damaged or something is missing – just make sure you don’t end up buying something you don’t need just because it is cheap.
And finally, don’t go shopping when you are hungry – you are much more likely to be tempted to pop a few extra items in the trolley!
Freezers
Sam Whillance, a savings expert at discounts platform Deal.Town shares his expert tips on how keeping a freezer full can make it work more efficiently and keep bills down. “Stocking up your freezer can save money in several ways. Firstly, purchasing freezer foods in bulk can be cheaper than buying fresh produce (which can also go to waste a lot quicker).
“Foods you stock up your freezer with can help lower the costs of running it. By organising your freezer space, using more frozen products, and freezing leftover fresh food where possible, we can reduce our food waste and save money. Firstly, aim to unclutter your fridge, especially near the ventilating outlets as keeping space at the top and sides of your fridge helps the cool air move around easier. Try organise your goods so you can still pack just as much in, while keeping track of everything you've got. Any bulky foods can be repacked into reusable freezer bags – try squeezing the air out and sealing.
“Most of the energy your freezer uses goes towards cooling down the air that comes in when you open the freezer door. So, when your freezer is full, there is less room for warmer air to come in, and the items that are in there will help to cool down any warmer air that does sneak in.
“Newspaper is also a great item to use if you want to keep your freezer full. Simply move food items towards the outer sides of your freezer and stuff the interior spaces with newspaper. This way, you are keeping your freezer at maximum capacity. Another way to do this is by using packaging peanuts – small pieces of Styrofoam often used to fill up space, provide cushioning, and help prevent shock in moving boxes. They are also, in fact, a great space filler for a freezer. Essentially, keeping it full and compact means less energy will be used – reducing your bills."
Reducing food waste
While we need to cut back on our outgoings, we also need to make sure we don’t squander anything we do buy. With this in mind, check out The Why Waste? Project which has returned for its second year with Massimo Bottura challenging three of the most influential chefs from around the world to transform food unjustly categorised as ‘waste’ into imaginative and delicious dishes. The aim of the Why Waste? is to create engaging content to inspire people to adopt a more responsible behaviour to save food from being wasted by asking the question “why is this waste?”. To see the recipes and find out more, click here.
Water usage
Paul Bailey, Leader, Product Management, LIXIL EMENA and GROHE UK, suggests one of the easiest and most effective ways to reduce your water usage at home is to upgrade your bathroom and kitchen fittings, such as taps and showers, to models that provide resource-saving aspects like a reduced water flow or cold-start functionality. Bathrooms and kitchens are our most high-resource consuming rooms, so implementing efficiency here is an ideal starting point when looking to reduce energy, and with modern day technology there are plenty of innovations available. He also says to consider when you really need to use warm or hot water; often cold water (which requires less energy) will suffice, and we waste energy in heating water up.
There are also day-to-day personal changes you can make where you will see a difference. Monitor and try to cut back on your water usage. For example don't leave taps running while you’re brushing your teeth or shaving, cut back the time you spend in the shower or invest in a water butt for collecting water for your garden. Also ensure you are getting efficient usage of water, such as only running your dishwasher or washing machines with full loads. Another idea is to check your home for any leaks in case you are losing water unnecessarily.
School costs
Nick Drewe, founder of discounts platform, WeThrift has some useful tips for how families can help to reduce their costs and save money on school essentials.
- Purchase pre-loved uniforms: A great way to cut down on the amount you’re spending on school uniforms is to shop for preloved items, particularly on the more expensive items such as blazers and clothing with your child’s school logo on. Look out for local second-hand uniform retailers who offer uniforms with the school’s branding, and be sure to add yourself to local school Facebook pages or parents' Whatsapp groups, as many others may be looking to hand down their child’s outgrown items rather than seeing good quality pieces going to waste.
- Search for discount codes when shopping for school shoes: One of the most expensive elements of the school uniform shop is new school shoes. Not only do parents have to contend with wear and tear, but also the fact that children’s feet are constantly growing, meaning that the costs can start to really pile up throughout the school year. That being said, there are a wide range of discount codes available online for many of the high street shoe retailers. Yes, go into the shop in person to try on the fit of the shoes, but then it’s recommended searching online for discount codes and purchasing through the retailers website.
- Shop for second hand books: For the kids who are a little older and are at secondary school, they may be required to purchase certain books for their studies. The cost of purchasing books across multiple subjects can add up. Therefore, looking out for retailers that provide the option to purchase preloved books at a reduced cost is always worthwhile.
- Plan for packed lunches: When it comes to reducing the costs of your child’s lunches, planning is key! Pre-plan what lunches you’re going to make for them throughout the week before you do your food shops so that you can work out a weekly budget and know exactly what you need to buy. Bulk buying ingredients and cupboard staples you use regularly is also a handy way to reduce the cost of your grocery bills. Keep an eye out for items that are on sale and stock up when they are reduced. However, it’s important to pay extra attention to expiration dates on food so that you can plan and minimise food wastage.
- For more tips, visit https://www.wethrift.com/tag/united-kingdom
Leisure time
Just because you are watching the pennies doesn’t mean you can’t still have enjoyable days out, especially as there are lots of inexpensive things to do with kids, such as heading to the local park or down to the coast, taking a football, cricket set or tennis racquets, and setting up some simple sports competitions. There are so many lovely outdoor locations to choose from here in Kent and Sussex, you’ll be spoilt for choice. Or you could go bug hunting, feed the ducks, visit our local animal sanctuaries or explore the area’s free museums and galleries. For more ideas, check out these features on inexpensive things to do and outdoor activities.
And when it comes to holidays, Start-Rite, the UK’s oldest children’s shoe brand, has conducted research that has shown families can save on average just over £200pp per trip by opting for ‘train over plane' and spending their summer holidays here in the UK. Meaning a family of four would save an average of almost £1,000 per trip before they’ve even added spends or baggage! To find out more, click here.
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