Martin Lewis of Money Saving Expert shared an in-depth guide on how households can cut costs.
In it, the finance guru shared the washing machine and hot drink tips people have used to save money. This comes at a time when the cost of living is at its highest in 30 years.
The country has seen a series of price increases, with energy bills being one of the highest, with energy regulator Ofgem raising its price cap by a staggering £693 for someone with typical use – a 54% increase to £1,971. Municipal tax bills have also just gone up, and broadband, mobile and mortgage payments have also seen price increases.
READ MORE:Money-saving expert warning about late £150 council tax refunds
Presentation of the guide, Martin said: “On 1 April the 54% rise in the energy price cap hit 22 million homes, a desperate and typical £700/year rise – catastrophic for those on the lowest incomes .” He added: “Yet the pain extends much further – when combined with all the other price rises, we will see a significant drop in living standards for most low to middle income earners.
“For some, there is unfortunately no way to reduce spending below income; this solution will require political intervention. For others, we need a collective effort, to work together to reduce financial pressures where we can. And that’s partly behind this guide.”
In the guide, he offered a host of tips and tricks to help save money. But since every household often prepares hot drinks and washes their clothes, tips for these things could help save a lot.
People have been recommended to “watch the weather” to decide when to wash their clothes. Following a helpful tweet from a money-saver reader, Martin said: “Do one less wash load per week, run your machine on a 30 degree cycle and make sure your machine is full when you use it. use can save around £28 a year on your energy bill, according to the Energy Saving Trust.”
The guide prompted Martin’s followers to share dozens more of their money-saving tips, including around hot drinks. One money saver said boiling water once and then storing it in a flask, instead of boiling it every time you want to drink, is one way to reduce electricity consumption.
She also advised people to “gather” wild foods, including nettles for soup. Heather said: “Boil water for hot drinks once a day and store the rest in a flask to save electricity. Foraged food (made from nettle tagliatelle, nettle soup and potatoes, dandelion flower jam, etc. during difficult times).”
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