Evaluate your utility services

Are you receiving the best value for your bills? It’s a good idea to regularly assess not only your electricity provider, but also broadband and mobile services. Websites like NZCompare and Powerswitch allow you to easily compare plans and find a more affordable solution. 

Optimise hot water cylinder temperature

Consumer NZ advises that setting your hot water cylinder above 60C wastes power and could even pose a safety risk. Some cylinders allow you to reduce the temperature yourself, while others require a professional. By lowering the temperature to around 60C, you can save on energy costs while still maintaining a safe water temperature.

Enhance hot water cylinder insulation

Improving insulation for hot water cylinders and pipes can significantly impact your energy bills. The Energy Efficiency and Conservation Authority (EECA) suggests that older cylinders and pipes installed before 2002 may not have adequate insulation. You can improve this by using cylinder wraps and pipe insulation available at hardware stores.

Switch to cold water for laundry

The EECA also recommends switching to cold water for laundry, which can save between $60 and $80 per year if you do four loads a week. Modern detergents are designed to work effectively in cold water, making this an easy change to implement.

Set up automated bill payments

It can also be a good idea to set up direct debits or automatic payments for expenses like power, rates, insurance, and broadband. In some cases, automating payments can help you take advantage of prompt payment discounts and avoid late fees. 

Check your home’s insulation

As you probably already know, improving insulation can also make your home more energy-efficient, saving you money on heating and cooling costs. The EECA estimates homeowners can save up to $400 per year just by adding ceiling insulation, and also recommend checking wall and floor insulation for additional savings. 

Learn DIY skills for home maintenance

Sometimes small issues can escalate into larger, costlier problems. Provided the job doesn’t require specialised knowledge, you may save money in the long run by learning how to complete basic household tasks through YouTube tutorials. Of course, make sure you don’t overestimate your skills and always seek expert help whenever needed, to avoid safety risks. And keep in mind that certain jobs must always be performed by registered tradesman.

Disclaimer: Please note that the content provided in this article is intended as an overview and as general information only. While care is taken to ensure accuracy and reliability, the information provided is subject to continuous change and may not reflect current developments or address your situation. Before making any decisions based on the information provided in this article, please use your discretion and seek independent guidance.

Link Financial Group Ltd trading as Mortgage Link and Insurance Link FSP 696731 holds a licence issued by the Financial Markets Authority to provide financial advice. Insurance Link (NZ) FSP 446867 is authorised by that licence to provide financial advice. Please visit www.insurancelink.co.nz/available-disclosure for more information and Disclosure information.