5 finance tips for the big freeze

Freezing winter weather can cause accidents at home and on the roads, as well as pushing your heating bills through the roof. But you can dramatically reduce the chances of a burst pipe or a car crash by taking a few precautionary measures, while there are lots of ways to keep your energy costs down.

By Clare Francis

How can I protect my home from weather-related incidents?

Every winter, insurers receive thousands of claims for burst pipes, which often cause up to £10,000 of flood damage. To ensure that your pipes do not freeze, it is therefore sensible to keep the central heating on constantly, but low - even if you are away.

Other top tips include insulating more exposed pipes and turning off the water supply to outside taps.

Meanwhile, to prevent nasty falls outside your home, it is a good idea to pay particular attention to slopes and steps when clearing snow and to use salt to melt any ice underneath.

Every week, Clare Francis, financial journalist and editor of comparison site moneysupermarket.com will offer tips and advice on all things money-related to help iVillagers make the most of their hard-earned cash. From energy bills to car insurance; credit cards to children’s savings accounts; mortgages to discount vouchers Clare will show you how to make sure you’re getting the best deal.
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What can I do to reduce the risk of being in a car crash?

When snow hit the UK in December 2010, road accidents jumped by an incredible 124%.

You can, however, reduce the chances of being involved in an accident by leaving early to make journeys as stress-free as possible and by staying in a low gear when travelling downhill to prevent you having to break suddenly.

If the weather is really bad, it is also sensible to avoid taking the car out unless your journey is absolutely necessary.
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How can I cut the cost of heating my home?

British Gas estimates that UK consumers waste about £5 billion worth of energy every year - and the cold weather makes it even more important to do all you can to keep your consumption to a minimum. What’s more, improving the energy efficiency of your home does not have to cost a lot.

Simple measures such as installing room thermostats that help you to monitor and control the temperature throughout your home more accurately could cut your bills by £70, according to the Energy Saving Trust.

Meanwhile, keeping windows closed whenever possible, checking for draughts around both windows and doors, and closing your curtains at dusk to stop heat escaping are all completely free ways to keep bills down.
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What else can I do to save energy?

Heating your house or flat is not the only way you use gas and electricity at home, of course. To keep bills to a minimum, it is therefore sensible to save energy where possible when you are cooking. You should, for example, always use the right-sized pan and ring for each job when cooking on the hob, and keep the oven door shut as much as you can when roasting or grilling food.

Other tips include making sure that the whole family turns off the lights when leaving a room, and using energy saving light bulbs, which can save you around £55 over the lifetime of an average bulb.
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Final tips

While reducing your energy consumption can save you money, the easiest way to slash the amount you pay for gas and electricity is to switch to a better deal.

Millions of people are paying more than they need for their gas and electricity. The average household could save £200 a year and the savings for those who have never switched provider are even greater - around £300.

Use an online comparison tool to find out how much you could save and which is the best energy deal for you.

Every week, Clare Francis, financial journalist and editor of comparison site moneysupermarket.com will offer tips and advice on all things money-related to help iVillagers make the most of their hard-earned cash. From energy bills to car insurance; credit cards to children’s savings accounts; mortgages to discount vouchers Clare will show you how to make sure you’re getting the best deal.
- Get the latest home and garden inspiration
- 5 ways to improve your credit score
- Top 10 apps that will save you cash
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