How does the UK Heatwave impact you financially
Written by Robert Bester, Consumer Finance Expert Robert has been a writer for six years, specialising in consumer finance and the UK lending market. Concentrating on consumer credit products, Robert writes informative articles that help customers manage their personal finances efficiently.
30th November 2020
2 minute read
With the Met Office advising people to stay out of the sun and with temperatures set continue to soar throughout August, there seems to be no end in sight to the heatwave conditions.
But how much is this heatwave really costing you and your family? The personal finance experts at moneyguru.com have uncovered the hidden ways that the weather could be affecting your pocket and how you can save money during the long hot summer.
1. Staying cool at home
Using electric fans and air conditioning is a welcome reprieve in this weather but it could be turning up the heat on your electricity bill. Turing your cooling system up full blast is inefficient and expensive. Try putting your air con on a timer so it isn’t running constantly and make sure you service them regularly so they aren’t using more electricity than necessary.
Make sure you close blinds and curtains around the house to naturally cool down indoors too!
2. Limit expensive appliances
Tumble dryers guzzle energy, making them pricey to run. Take advantage of the sunshine while you can and dry your clothes alfresco. They’ll dry quicker and you’ll see a drop in your bills come autumn.
Try to use washing machines and dishwashers in the morning or late at night. It might annoy your neighbours but it means you avoid generating more heat around the house, and they probably won’t be asleep in this heat anyway!
3. Don’t waste fuel
Having windows open as you drive can cost you fuel as it makes your car less aerodynamic, but so can your car air conditioning! Using your car’s air-con can increase fuel consumption by 8-10 percent, which is going to add serious pennies to your summer exploring.
4. Keep the kids entertained for less
The summer holidays can be an expensive time and trying to keep the family occupied, and cool, in the heat can seem like an impossible task but hitting the beach, park or local woodland is all completely free! Why not go on your own wildlife safari at dawn or dusk, while its still cooler and see how many animals, birds and insects you can spot. All that fresh air is bound to tire them out. Take your own drinks and snacks so you don’t get sucked into pricey tourist eateries and buy your buckets, spades and towels away from busy attractions where vendors will hike up the price to cash in.
5. Cancel your streaming subscription
Do you really want to be sitting inside glued to the TV while the weather is so glorious? You’re sacrificing valuable summer spends to the TV gods for subscriptions you aren’t using. Many of these subscriptions run month by month so you can always cancel and sign up again in the autumn. Then you can catch up with your favourite shows on demand!
6. Shop smart
Farmers are struggling to raise crops during the heatwave which means the prices of some fruit and veg in on the rise this summer! Wholesale cost of lettuce is up 55 percent while cauliflower prices have surged by a whopping 81 percent, so make sure you double check the prices of your weekly shop to avoid a nasty surprise at the checkout. Good news for fruit fans however as, thanks to the warm weather, there is a bumper stock raspberries and cherries this season!
7. Don’t be a sun cream snob
With temperatures soaring above 30 degrees across the UK, we need to take care in the sun – but you don’t need to spend a fortune on brand name sun cream. Did you know that EU regulations mean that sun cream has to be a certain standard, no matter what the price? Switching to an own brand label could save you serious spondoolies as you can sometimes pay almost double the price for a fancy label.
The Money Guru never gets hot and bothered. Head over to www.moneyguru.com and make sure it’s the sun, not your spendies, that are making you sweat! Visit the wisdom section for tips, ideas and guidance to make sure you are making savvy savings all year round.