Now more than ever, it is important to save on monthly bills where we can. For elderly people living on a fixed income, especially, this can be a challenge. To help, we have created this guide to saving money on your monthly bills.
Whether you are struggling to make ends meet or are living comfortably, it is always wise to save where possible.
Switch Energy Provider
One of the easiest ways to save on your bills is to switch to a new provider. If you have been with the same company for some time, it may be time to make a change. It has been estimated that consumers could save up to €1,000. To find the best deals, use a service such as Switcher to support you.
Reduce Energy Usage
This may seem obvious, but many of us use more energy than we realise. It is not only when the TV is on or when something is in the oven that they use electricity. Often, as long as something is switched on at the wall it will be using energy. When household appliances are not in use, ensure they are properly turned off and not on standby. Switch plug sockets off to ensure power isn’t being used. You should also ensure that lights are not left on in rooms you are not using. This is wasteful and could cost you more than you realise.
Be Mindful of Your Heating
As the weather gets colder, you are naturally going to want to keep your home warm. This is an important consideration, especially for over-60s who are more vulnerable to winter illnesses. However, a warmer house could mean higher bills. Before turning up the thermostat, consider other possibilities. Have you put on another layer? Do you have enough blankets? Is there a draught excluder under your door? Whilst you shouldn’t let your home get too cold, keeping warm with layers instead of heating could make your bills more manageable.
Identify Your Budget
We all have limits to how much we can afford to spend every month. Sometimes, to save money you need to find out where it is going. Create a budget list and include every outgoing bill. This means energy, heating, food, and phone bills. By identifying where your money is going, you may be able to determine where you can cut back. For example, if you subscribe to a streaming service such as Netflix or Disney+, is there a cheaper option? Or perhaps you don’t use it much and would be better off letting it go.
Create Meal Plans
When it comes to the regular food shop, it can be easy to buy more than you actually need. This can result in unnecessary expenses and wasted products. Instead, plan ahead so you only buy the things you need. A meal plan helps you to visualise what you need, and may make you think a little more about what’s already in your cupboards, fridge, and freezer. Make a list and stick to it, and you’ll be surprised how much you can save.
Negotiate with Insurers
It’s important to save where you can, and that includes on your insurance policies. Ask your providers for a discount and see what happens. They may surprise you. You may also be able to convince them to offer you a better deal if you suggest you have been looking elsewhere and found a better policy. Insurers want to keep their customers, after all. If they won’t offer you something better, than it may be time to look elsewhere for cover.
Change Habits
When money is getting tight, many of us have to accept that we need to change our spending habits. That means buying less luxuries and putting more money into your savings at the end of the month. If you want to make purchases, it is worth browsing charity shops instead of the high street stores; you never know what bargains you might come across. If you like going out for meals or buying takeaways, now is the time to start making more meals at home. Use your local library to get books or DVDs instead of buying them or going to the cinema. This isn’t to say you can’t still treat yourself, but make these treats something special rather than a regular occurrence.
Pay with Cash
With so many transactions taking place online nowadays, it can be easy to lose track of how much we are spending. Whilst regular bills can’t be paid in cash, other expenses can. When you go to the shops or for a day out, take cash with you. This way you will know how much you can afford to spend and will be more likely to think about your purchases and not overspend. Over time, you may find you have a nice amount leftover to put back into your savings.
Choose LifeConnect24
When it comes to maintaining your independence, finances can be just as worrying as getting some help. Rather than make these worries worse with the costs of homecare, why not choose a personal alarm from LifeConnect24. By choosing a personal alarm, you can remain in the comfort of your own home, with help always a button press away, all for a reasonable price.
If you are living with a long-term health condition or disability, you can save money on your personal alarm with VAT Exemption.
To find out more about the LifeConnect24 alarm service, get in touch with our helpful team on 1 800 937543.
Editor’s Note: This article was updated on 16th November 2023.
