Have you tried to save money by creating a savings account? Or perhaps you’ve cut down on unnecessary subscriptions, or swapped to buy own-branded goods? However thrifty you might be, there’s one thing you should definitely consider looking at – making a change on your household bills.
A new survey by NatWest has shown that a third of consumers are not shopping around for a better deal on their household bills and around half feel they are not energy efficient; potentially costing them financially in the long-term.
You might not think about your household bills first when you think about saving money, but there are different ways you can make changes, such as switching your service provider or by installing energy saving devices.
The Results of the Survey
A third of consumers don’t shop around for their household bills with the least shopped around for bill being phone landlines (37%). Whereas, the most compared bills were electricity and gas (both 57%). When split into region, consumers in Yorkshire and Humber and the East of England were the most likely to shop around on all household bills. On the contrary, Scotland, Wales and London were the least likely to do so.
Despite those who shop around for their household bills, it was seen that dissatisfaction with energy prices was evenly spread across Great Britain. The bills that customers were most dissatisfied with were electricity and gas, especially in the south of England. On the other hand, satisfaction with mobile bills was strong in both the north of England and Scotland.
So with the varied satisfaction levels around Great Britain, what can be done to turn things around?
Accounting for your own finances means you are the one in charge of getting the best deals available. If you feel dissatisfied with what you’re paying, don’t be afraid to switch providers, but do check for cancellation fees before you switch.
Find what deals are on offer by using comparison websites or asking your current provider what deal is best for you. You can also check if it’s cheaper to buy your electricity and gas individually as opposed to getting a dual discount.
So however you are trying to save money, try cutting down on your household bills first and see how much of a difference that makes.
Christina Hirst is a content strategist and works on behalf of Natwest in the creation of off-site financial content.