Ofgem has announced that typical energy bills will rise from from £1,971 a year to £3,549 a year from October 1. To help slash costs, Scott Mowbray, co-founder of money saving app Snoop, gave suggestions on possible savings that households can make that could save them up to £1,638/year.
He spoke exclusively with Express.co.uk about the “simple stuff” that people can do to make saving more efficient and long term.
He said: “The cost of fuel and food has seen inflation hit a new 40-year high and, while there’s not much you can do right now about the cost of energy, there are savings to be had by taking steps to be more efficient.
“Simple stuff like switching appliances off when not using them, draught proofing and turning the heating down won’t be anyway near enough to fill the gap in your budget, but in combination could save you anywhere from £100 – £250 a year.”
With increasing food prices being one of the biggest drivers of inflationary pressure, Which? research shows Aldi and Lidl can be the best bet for smaller shops and Asda standout on price for the big shop.
Category – Potential Saving
- Broadband – £245
- Mobile – £50
- Subs – £120
- Car Insurance – £250
- Home Insurance – £108
- Current account – £160
- Cashback/Spending – £300
- Savings Interest – £75 (on £5k pot)
- Energy Efficiency – £230
- Money Management – £100 (Snoop analysis shows that the more that people customise their finances, the more they save because they can clearly see where such savings can be made)
- Total – £1,638/year
Another way to combat the cost of living is to check what benefits people may be entitled to.
Over £15billion is being unclaimed by low income households across the UK.
This means millions of the poorest families, young people and old people, disabled people are not getting the help they are entitled to.