New Moneyexpert.com Survey Shows True Cost of Preparing for Winter Totals £402.99* per Household as Three-quarters of Brits Delay Switching on Their Heating in Order to Save Money
24 Oct, 2019, 18:05 BST
LONDON, Oct. 24, 2019 /PRNewswire/ -- Budget conscious Brits are shivering to save money instead of turning their heating on this winter, according to a recent survey.
The research, which was conducted by leading comparison site Moneyexpert.com, found that nearly three quarters (72%) of Brits admit to restricting their use of heating in their home over concerns about energy costs.
Three quarters (74%) have used some kind of "heating hack." A quarter (25%) wear extra jumpers (25%), a third (32%) wrap themselves in a blanket while 16% even don thermal undies to keep warm. Nearly one in ten has gone to bed fully clothed.
These delay tactics appear to be causing tension at home. One in 4 (24%) Brits argue about whether or not the heating should be on. In fact, Brits are three times more likely to have a row over the heating than the household bills (8%) or the washing up (9%). A fifth (21%) say they have a heated debate with their partner over the exact temperature the thermostat should be set at. In 19% of households it's a joint decision, yet in the majority (36%) of homes it's a female that dictates when to crank up the temperatures.
Moneyexpert.com has also calculated the true cost of getting ready for winter – which totals on average £402.99 per household. This takes account of the extra expense incurred by the switch to winter, including warmer clothing, extra heating and lighting, budgeting for the forthcoming festive season, plus seasonal household expenses such as repairs, insulation or redecoration.
This surge in expenditure is a pressing concern, with three-quarters (74%) envisaging their energy bills rising over the cold season. The survey also looked at typical seasonal expenditures, revealing a number of additional costs to bear in mind. For some Brits, costs could be going through the roof according to their estimates. Of the 7% planning to insulate their home, an additional average cost of £324 is in the pipeline, and it's £174 on average for the 7% planning on purchasing electric heaters as the temperature drops. What's more, of the 6% having to buy a new boiler, an average cost estimate of £490 was revealed.
Commenting on the research, Jason Smith, CEO of Moneyexpert.com, said: "It's alarming to see that the vast majority of people are restricting the heating in their homes due to cost concerns, and with 74% expecting their bills to rise this winter, it's more important than ever to shop around to find a better gas and electricity deal. If you've been paying a fixed monthly rate and you are one of the 60% of Brits whose energy plan is in credit at this time of the year, switching supplier now means you will also benefit from a reimbursement, which could go to help with all those extra or unbudgeted for winter costs."
Save money on your energy bills. Visit https://www.moneyexpert.com/gas-electricity/.
Notes to Editors
About Moneyexpert.com
MoneyExpert is a leading, independent money comparison site and has been operating since 2003. MoneyExpert has helped over 1M customers across energy, insurance and financial products.
About the research
An online survey was conducted by Atomik Research among 2,000 respondents. The research fieldwork took place between the 9th and the 12th of August 2019. Atomik Research is an independent creative market research agency that employs MRS-certified researchers and abides to MRS code.
*The "cost of winter" is calculated as follows:
- Consumer claimed estimated spend between October and Dec on:
- Insulating the home
- Changing the windows in the home (e.g. double glazing etc.)
- Purchasing electric heaters
- Purchasing dehumidifiers (to prevent damp and mould)
- Purchasing a new boiler
- Cost of energy bills
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SOURCE MoneyExpert.com