Thursday, January 21, 2010
Category:
Personal Finance Tips
Confused.com is advising people to keep warm during the cold winter months.
Head of energy, Gareth Kloet, commented: "Pensioners are one of the most vulnerable groups when it comes to cold weather and as we experience the coldest snap for over 30 years, for those worried about unaffordable high bills, help is at hand. People need to make sure they stay warm and should not be afraid of using energy as with careful consideration it is possible to cut bills without putting themselves at risk."
The price comparison service has offered some top tips for those who may be vulnerable:
- There is a government initiative in place that provides support for vulnerable people who are afraid to turn on, or turn up, their heating during cold spells. Those who are eligible should automatically receive a £25 ‘Cold Weather Payment’ as a contribution to energy bills. This applies to those living in areas where the temperature has been, or is forecast to be, zero degrees for longer than seven consecutive days.
- If a bill arrives that is heftier than anticipated, it is advisable to call the supplier to discuss setting up a direct debit and spreading any arrears. Savings could be made by switching to an alternative method of payment.
- Pensioners should investigate fixed price tariffs, which are safe from inflation and changing prices. This should allow for more effective budgeting.
- In order to avoid overpaying, regular meter readings should be provided.
- A 100 percent grant is available to households with a resident over the age of 70.
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Homeowners who are keen to create a warm and cosy living space, but do not have the money available to fund the work required, could consider taking out a secured loan for
home improvements. One of many finance options available, a secured loan for home improvements could facilitate a range of projects around the home. For example, draughts from poorly fitted – or simply old – doors and windows could be eradicated by replacing them with modern counterparts. Furthermore, central heating systems that are no longer functioning properly could be replaced to ensure that a reliable source of heat is available on those cold winter days.
