Dispelling Financial Myths

Consider these myths... BUSTED!

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We’ve been scouring the internet for you to bust some common myths about saving money, here’s some of the best we’ve found:

  1. Can’t handle the Scottish sun? Running a fan during the summer does not have to eat up all your cash! Using a desk fan can cost less than 1p an hour to run!
  2. Don’t get caught paying extra! Having devices on standby can cost you extra pennies that you don’t expect! Make sure to turn off any standby devices at the plug to prevent those deadly little extra charges!
  3. Having a smart meter unfortunately won’t solve all your problems! Smart meters can help you keep track of how much you spend but you need to actively cut down on electrical usage to save any money!
  4. While electric heaters may dry your clothes quicker, they are one of the most expensive forms of heating!
  5. Running appliances at night does not save you money… unless you have Economy 7 or 10 tariff. If that’s the case, then your evening rate is cheaper than your day rate so save those pennies and make the change!
  6. While redecorating can be fun, painting the radiators black does not save you money! Alternatively, put reflective panels behind your radiators to stop your heat escaping through external walls!
  7. Using your tumble dryer can be expensive! Instead, time your washing so you can hang it up when your heating comes on! If you put it in a closed room with the window open this can help moisture leave your home instead of hanging around like an unwanted guest.
  8. Electric or halogen heaters can help you warm up but gas is cheaper than electric so they may ramp up your costs!
  9. Avoid disaster and make sure to keep your heating on even when you go away! 12 degrees is the recommended temperature to prevent any frozen pipes!

Check out the MoneySavingExpert website to bust more myths!


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