How To Offset the Loss of Your Winter Fuel Payment
The winter fuel allowance cut is still a very controversial decision. It's left 10 million pensioners £200 to £300 worse off. Despite this, the British weather hasn’t been any kinder, with ice-cold winds and minus temperatures battering communities.
We’re now approaching the last month of the winter season. It's the time pensioners are usually most strapped for cash, which makes a bonus £200 to £300 all the more important, for keeping themselves warm.
However, there are ways you can recoup this sum, by making a few minor changes throughout the year. So, our Money Saving Expert, Joshua Houston, is here to give you a helping hand. He has revealed five simple ways to offset the cost of your winter fuel payment.
1: Seal Draughts - Saving £70 per year
Windows and doors are common areas for cold draughts to get into your home. Not only this, they also allow heat (that you are paying for) to escape. Inspect each window and door, and install plastic rubber strips to cover the exposed gaps. You can get a large reel of strip tape for under £5 at most DIY retailers. This will give you a saving of around £70 a year if done correctly, which will regain 23- 35% of your winter fuel allowance payment.
2: Make Use Of Off-Peak Energy Rates - Saving £400 per year
Off-peak energy hours are when electricity demand is low, which results in a cheaper price. This can be at any time, but it is most likely at nighttime between the hours of 10 pm and 8 am. So a suggestion is to use items that require a lot of electricity, like washing machines or electric heaters at night. Using off-peak energy rates can save you between 20-50% on your electricity bill. That’s just over £35 a month, which works out to north of £400 a year.
3: Unplug Electronics - Saving £100 per year
A lot of appliances use power even when turned off. This is known as ‘phantom electricity’. Unplug electrical appliances like your TV, microwave and chargers. Phantom electricity can often contribute to 10% of your overall electricity bill. This works out to £8 a month, which adds up to just shy of £100 a year.
4: Use Electric Heaters Wisely - Saving £500 per year
If you live in a one or two-person household, then it might be worth investing in an electric heater. As you will only have to heat up one to two rooms instead of the whole house. They can be picked up for around £25, or alternatively, you can buy one secondhand for a cheaper price. By limiting the rooms that you heat, this can save you around £500 a year.
5: Think About Your Showers - Saving £75 per year
Making your shower process more efficient is another way to save money. Set a timer for four minutes, and make sure you wash every part of your body in this time (if you are able-bodied). This will save the average person around £75 per year. So in the winter months, this money can go towards your energy bills. If you aren’t able to do this, don’t worry. Following the four tips above should be more than enough to offset the cost of your winter fuel payment.
Joshua Houston, Money Saving Expert at WhatCost:
‘’I understand this is a sensitive issue, however, my tips above can save you well over £1,000 throughout the year. They will also help you feel warmer in your home, which is especially important during the colder months.
There is a chance that the winter fuel allowance could be reinstated in the future. But I hope my advice can give you some peace of mind, that there are ways you can recoup the cost in the meantime.’’