Hot savings in cold weather

When the temperature begins to drop, it might be time to think about the additional expenses associated with the winter months. Between covering the cost of the festive season and the sharp increase in fuel bills across the colder months, getting on top of your finances during winter can save you big in the long term.

Stop your home leaking heat

Keeping on top of your home maintenance can help reduce fuel costs. Many energy companies offer free insulation, which the Energy Saving Trust estimates could save the average house around £300 a year. For a list of companies offering this service visit MoneySavingExpert. Even ideas like putting up thicker curtains or deflecting heat back into your room by putting foil card down the back of your radiator will help keep the heat in your house.

Check if you're entitled to winter fuel payments

If you (or someone living with you) were born before 5 October 1954 you may be eligible for help with your fuel payments. The Government Winter Fuel Payment could provide a one-off payment of between £100 and £300 tax-free to help you meet the cost of heating your home.

Reduce the temperature in your house by 1 degree

By effectively using your thermostat and reducing the temperature by 1 degree can save you £60 per year, according to The Energy Savings Trust.

Beware of high-cost borrowing

On the run-up to Christmas, it seems that every advert, email or letter coming through the door is offering a loan or other source of credit. Catalogues, payday loans and doorstep lenders are notoriously expensive; with catalogues charging overinflated prices and APR’s in excess of 35%, whilst payday loans often charge up to 4500% APR.