Eight tips to help you save money this winter

Anthony Morrow

Co-Founder of OpenMoney

December 17, 2021

Winter is well and truly here and with increasing energy bills set to leave many out of pocket, we know budgeting for this long cold season will feel more daunting than ever. But, it doesn't have to be all doom and gloom! There are ways you can cut back on some costs with just a few small changes, and that's exactly what we're here to share today...

1) Turn your central heating down by just 1 degree.

If you regularly have the heating on, turning it down by just one degree could save you up to £80 per year, depending on your provider. You probably won't feel the temperature difference around your home, but you'll definitely notice that extra cash in your pocket!

2) Be mindful when filling the kettle

It might seem like a small thing, but only boiling the amount of water you need at that time will save significant amounts of energy and money over time. So if you're only making one cuppa, don't fill that kettle right to the top!

3) Get tax relief expense-savvy when from working from home

You can claim tax relief on your expenses and bills while working remotely. HMRC has a dedicated service to help with claims. It’s definitely worth reading up on what you might be entitled to. Also, don't forget to keep all your receipts from things like printing and post office trips, because a few pounds here and there can add up very quickly.

4) Make your own lunch and batch cook

In the winter months in particular, hearty soups, warming stews and casseroles can be made in bulk which makes huge savings. Preparing portions for each day can help you reduce energy bills compared to cooking multiple meals per day, as well as cutting down the amount you spend nipping out for lunch and supermarket meal deals. It's a win, win!

5) Pick your working spot wisely

When you are working from home, choosing the right room in your home could save you bucket loads on your energy bills. Think about the rooms and spots that get the most natural light, and you’ll find you need to have the room lights switched on far less often. Depending on how your home is laid out, you might also find that certain rooms are naturally warmer than others at different times of the day.

6) Remember to switch things off when you’re finished

It sounds simple, but leaving computers and other electrical equipment running when you’re not using them can also add pennies onto your energy bills. We know it’s easy to forget, especially when we’re busy, but do try to remember as you will notice a difference long-term.

7) Use alternative phone call methods

With remote working so popular, traditional landlines are practically obsolete, and even trying to get hold of people on mobiles can be difficult - but with that, comes potential savings again. Use things like Zoom and Google Hangout where possible, as making calls via the internet is bound to lead to savings on your phone bill.

8) Think about your clothes

Though you might still need to make yourself look presentable for virtual meetings and video calls, during the remote working winter, most can probably get away with fewer wardrobe changes, and that probably also means fewer trips to the shops for new ‘work’ clothes too. Get creative and think about ways you can jazz up existing outfits, and only splash out on new ones if you have to. You could also think about opening up a brand new savings account for the savings you make here, as well as any additional ones you might also make by not commuting to and from work every day. By the time summer is upon us again, you could have built yourself a nice little pot, without even having to put too much effort in.