The cost of living is continuing to rise, and as a result many of us will be looking for ways to save money where we can.
With that in mind, personal finance experts Ocean Finance have revealed that switching to smart appliances could save £375 in the next two years.
The company also shared other tips for saving money this winter.
3 ways to save £375 by switching to a smart home
Get a smart meter installed
According to the government’s Smart Meter Roll-Out Cost-Benefit Analysis, smart meters could save you £131.75 per year on gas and electricity, a total of £263.50 after two years.
The report explains that a smart meter could reduce your gas bills by 2.2% (equivalent of £56.75 annually) plus it could reduce your electricity usage by 3%, equalling a saving of £75 annually (based on the annual price cap of £2,500 for the average household).
Together this totals to a saving of £131.75 each year.
Smart meters should be fitted by your energy supplier for free.
Make the switch to smart plugs
Research by British Gas revealed that £55 a year on average is wasted by Brits who leave appliances on standby.
If you know you’re someone who forgets to turn off appliances like your TV, laptop or gaming console, you could switch to smart plugs to help save you money.
Smart plugs go into the wall sockets and allow you to control the power using your phone.
For a pack of eight plugs, it will cost you around £57.98 and should last for a decade if they’re cared for properly, saving you £52.02 after two years.
Make the switch to smart bulbs
LED smart bulbs could save you around £30 a year or £60 for two years, according to British Gas.
6 tips to save energy this winter
- Switch to LED Christmas decorations
- Draught-proof your home
- Reduce your shower time to three minutes
- Bleed radiators to make them more efficient (twice a year is recommended)
- Wash laundry at 30 degrees
- Rearrange furniture to improve your room’s heat flow
To find out how you could get financial help with your energy bills, visit the Ocean Finance website here.
Your Money Matters
Your Money Matters is a campaign launched by us and our sister titles across Newsquest to help you overcome the surge in the cost of living. This year has seen a whole host of household price increases — from the energy price cap rise to surging inflation and food prices — costing your family hundreds or even thousands of pounds extra per year. We’re making it our mission to look out for your cash, offering money-saving deals, competitions, giveaways and insightful stories from your community on the impact this cost-of-living crisis is having on our readers. The worldwide energy crisis exacerbated by the Ukraine invasion, the financial impact of the Covid pandemic, record inflation figures and a surge in the cost of goods, fuel and travel means we will all feel the pinch. Through our newspaper, we want to do what we can to help make your cash go further because we know your money matters.
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