Money Saving Expert’s Martin Lewis has shared an extensive guide on how households can cut back on costs.
In it, the finance guru shared the washing machine and hot drinks tips people have used to save money. It comes at a time when the cost of living is at a 30 year high.
The nation has seen a series of price increases, with energy bills being one of the steepest as energy regulator Ofgem hiked its price cap by a staggering £693 for someone with typical use – a rise of 54% to £1,971. Council tax bills have just gone up as well and broadband, mobile and mortgage payments have also seen price hikes.
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Introducing the guide, Martin said: “On 1 April, the 54% rise in the energy price cap hit 22million homes, a desperate, typical £700/year increase – catastrophic for those with the lowest incomes.” He added: “Yet the pain stretches far further – when combined with all the other price rises, we will see a material drop in the standard of living for most on low to middle incomes.
“For some there is sadly no route to cut expenditure below income; that fix will need political intervention. For others, we need a collective endeavour, to work together to take financial pressures off where we can. And that is partly behind this guide.”
Within the guide, he offered a multitude of hints and tips to help save some cash. But with every household often making hot drinks and washing their clothes, the tips for these things could help to save a lot.
It was recommended people “watch the weather” to decide when to wash their clothes. Following a helpful tweet from a money saver reader, Martin said: “Doing one fewer load of washing a week, using your machine on a 30-degree cycle and making sure your machine is full when you use it can save about £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 that boiling water once, then storing it in a flask, instead of re-boiling every time you want a drink, is one way to cut down electricity use.
She also advised people to “forage” wild foods including nettles for soup. Heather said: “Boil water for hot drinks once a day and save the rest in a flask to save electricity. Forage food (made nettle tagliatelle, nettle and potato soup, dandelion flower jam etc during hard times).”
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