Currently, the cost of living is rising at an unprecedented rate and it is now a lot more important to keep track of our finances, so we have compiled some money saving tips for renters.
There’s no doubt that many have been affected by things such as the fuel crisis, Brexit, and inflation, as well as the rising house prices in the UK which has made it harder for those looking to get on the housing ladder.
It would probably be fair to say there has been a few meagre contributions from government in the way of a council tax rebate that should be getting paid to families either this month or next, and the £200 fuel discount that the government are desperate to point out isn’t a loan, despite it fitting a dictionary description of what would constitute one.
With all of this in mind, we’ve put together some of our top money saving tips for renters in the UK!
Consider a smart meter
Whilst the cost effectiveness of smart meters has been debated – realistically they’re not going to drop your fuel or energy consumption purely by existing in your home – the thought process is that they’re much better at helping you to monitor your usage and make savings where possible.
To think of it another way, if you had a monitor in your car to tell you exactly which gear to be in to be the most fuel efficient, presumably you’d take that and use it. It wouldn’t necessarily mean you use less just by being there, but it can help you use your fuel more effectively, hence making you savings in the longer term.
Most energy firms are installing these for free, so if you think it may help you then it makes sense to speak to your supplier today.
Check your eligibility for benefits
This question may evoke some stereotypes amongst us when thinking about benefits, but it’s important to highlight that the vast majority of people that receive state payments are people that are in work.
Depending on your income, how many children you have, the area you live and what sort of property you’re in, you could easily be missing out on government help that you’re perfectly entitled to.
If you’d like to check there are some benefits calculators that the government recommend, such as Entitledto and Turn2Us, these take about 10 to 15 minutes to complete and will tell you whether you may be entitled to extra money.
Pick a new property that works for you
It may seem simple, but by choosing a property that actually suits your needs, you can save money in ways you may not have considered.
As an example, by moving closer to work or a child’s school, you could be saving hundreds or even thousands per year by reducing your travelling time either in the car or via public transport.
Furthermore, finding an energy efficient home can save you hundreds on your gas and electricity, and finding a home with a good broadband connection can make it easier to work from home and get more done.
With the cost of living on the up and government help currently lacking, these money saving tips for renters could massively benefit you in the long run.
If you’re thinking of moving home soon, why not speak to a member of our team? We aim to put the enjoyment back into the lettings experience and can match you to a property that suits your needs!