Ever since the great recession, employers in the UK have resisted offering workers an annual cost of living raise. While this finally came to an end at the beginning of April, we are still left with a scenario where rising inflation and living costs are growing at a rate that is disproportionate to earnings. Ever since, 2013, the cost of living in the UK has soared at a faster rate to anywhere else in Europe, with rising food and energy costs thought to be behind this rapid increase.
5 Energy saving tips that will save you money
With this in mind, there is a pressing need for us to take control of our own expenditure in a bid to make our capital go further. Creating an energy-efficient home is one of the best ways to achieve this, as it triggers long-term financial savings that can quickly accumulate. Here are five of the best examples:
1. Turn your Appliances off
This may sound obvious, but how many of us forget to switch off the lights or television before we leave the house or go to bed? This simple, but easily overlooked, exercise can help to minimize your energy consumption on a daily basis, and this can quickly translate into monthly an annual financial savings. The key is to stay vigilant and educate others to share the same goals.
2. Plug the gaps
Property Rescue recently ran a fascinating article which offered numerous insights into energy efficient living, revealing that a staggering 20% of household heat is lost through small gaps, cracks and external doors. You can click here to find out more about this, but the issue can be resolved simply by fitting draft excluders or foams to all external doors and filling visible cracks with Polyfilla.
3. Insulate your loft
Heat is known to rise, and this means that a huge amount of energy may be lost through your loft space. This can be problematic during the winter, unless you take the affordable and proactive approach of insulating this space and enabling it to retain heat during the colder seasons. You can also insulate all interior walls throughout your home, although new build homes constructed after 1996 should include cavity wall insulation as standard.
4. Get smart about Technology
Smart technology has taken the consumer market by storm, and it enables home-owners and tenants to seize total control of their energy consumption. Smart technology hubs and accompanying apps allow users to access their heating controls remotely and in real-time, enabling them to minimize consumption while also monitoring usage. This technology costs a pittance to install too, so it is well worth the investment.
5. Consider installing solar panels
While the government may no longer be offering generous financial incentives for citizens who choose to install solar power, this technology remains a viable investment for anyone with enough disposable income to pursue such a goal. The average cost of procuring and installing solar panels is £7,000, and this amount is typically repaid over an average period of five years. After this time solar panels begin to deliver a profit, and one which offers huge rewards to home-owners.