6 Ways Renters Can Save Money
Renting in the UK isn’t exactly cheap and it is not set to get cheaper any time soon (quite the opposite, in fact) so anyone who is renting might be wondering what they can do to save a little money and give themself a better financial position right now.
Well, the good news is, there are lots of things you can do to save a little cash as a renter without sacrificing your comfort or security in the process. Let’s take a look at some of them, shall we?
1. Negotiate Your Rent
Okay, so a lot of renters do not think this is even possible, and those who do are often too scared to even try in case it makes the landlord angry, but actually it is often possible to negotiate your rent and many landlords will be happy to have those discussions because they do not want to lose good tenants or have to go to the time and expense of finding new ones. So, if you have a good relationship with your landlord, it is definitely worth a try.
2. Switch Energy Suppliers or Tariffs
Even as the market fluctuates, many renters are still overpaying for energy. And this is not a great position to be in, so it would be a good idea to log on to a price comparison site and see if you could get a better deal on your electricity and gas bills because there are still good deals to be found.
If your landlord controls the meter or has restrictions in place, then ask them first if any changes can be made and they may help you to do so.
3. Track Your Utility Usage
Simple habit changes add up, so turn off appliances at the wall, use LED bulbs, wash clothes at lower temperatures, and avoid running heating unnecessarily. Smart plugs and inexpensive energy monitors can help you see where your money is going, and where you can cut back.
4. Make the Most of Renters’ Rights
Many tenants don’t realise they may be eligible for compensation for housing disrepair if their landlord hasn’t carried out required repairs that affect their health or safety. Issues like damp, mould, leaks, or unsafe electrics are not just unpleasant, but they are actually pretty dangerous, right? They can also impact the cost of your bills and lower your quality of life, so if you have been suffering due to them, you have every right to seek recompense.
5. Furnish and Decorate on a Budget
You don’t need to spend a fortune to make your rental feel like home. Check out Facebook Marketplace, charity shops, local community groups, and second-hand websites for affordable furniture and décor. You’d be amazed what people give away for free when moving house. Soft furnishings and removable décor solutions keep things stylish without upsetting your landlord.
6. Review Your Insurance Policies
Renters often end up paying more than they need to for contents insurance or take out cover they don’t need. So, check your policy and if you have more coverage than necessary, change that, and shop around providers to get the best deal.
Happy saving!
