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    Saturday, 19 August 2017 16:08

    People saving now to ensure they can afford winter fuel bills

    Heating Bills Heating Bills

    Are you in the high percentage of people who are dreading turning the heating on in the winter months for fear of what it may cost you?

    If so, you are certainly not alone. Well over a quarter of people, according to a recent questionnaire, is already worried what a cold winter will mean for their fuel consumption, and consequently for their bank accounts.

    In fact, many people questioned said that they are starting to put money away now, in the summer months, to help when the sky-high winter bills start pouring in.

    Nearly 60 per cent of people said that they are just about managing to pay their fuel bills in the summer months but added that they will probably have to have the heating off, even when the temperatures plummet in winter, as they believe they will not be able to afford to eat as all their money will disappear in paying their energy payments.

    British Gas announced last week that they were to raise electricity prices which would affect millions of loyal customers, and many other of the big energy companies are set to follow suit.

    The questionnaire, seen by us, also highlighted that the stress of not being able to afford such bills goes far deeper than a few sleepless nights and worrying about where the money is going to come from to pay the next bill. It suggested that people’s mental health is genuinely being affected as people were overly anxious and constantly losing sleep wondering whether or not they are going to default on bill payments, and even worse, mortgage payments.

    The problem is far reaching and is affecting all people from all walks of life.

    People on benefits say their benefits can’t stretch to any more hikes in fuel and people in full time work say that they are literally going to work to line the pockets of the big energy companies as they don’t have any money left once bills have been paid.

    The situation is even more difficult to stomach when you realise these very same companies are posting annual profits year on year and consecutive governments have promised, and failed, to regulate the industry effectively. Only a few short months ago, Theresa May said that she would look to place caps on these companies and help the everyday Briton with their household finance woes – as predicted, we are still waiting for any of this to come to fruition.

    Unfortunately, there is not much that we, as a society can do. Whilst ever these companies don’t have a government piling pressure on them, they will continue to do what they want – and, more importantly, will charge what they want.

    You’ve probably guessed what we are going to say. The best thing for you to do is to ensure you are on the cheapest tariff. Nearly every blog post that we put together has this advice in it, but it really is the only thing that you are in control of that could mean you pay a bit less than what you are currently doing. 

    Tariffs need constantly monitoring as they change so frequently; so, you need to make it your mission to check regularly to ensure you are getting the very cheapest deal. There’s no room for loyalty where these companies are concerned, so don’t give them yours.

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    Warning: Late repayment can cause you serious money problems. For help, go to the MoneyAdviceService.org.uk 

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