When it comes to modern family life, lets be honest, it’s expensive. Over recent years, the cost of living in the UK has dramatically increased, from fuel bills to food prices… it’s a real challenge trying to keep on top of those costs and still provide the opportunities that we want to be able to provide for our children. We’re all about the small changes that can save you money, but what about the bigger ones? The investments that are really worth saving for, so that they pay you back dividends in the long-run? That’s what I’m interested in these days… less daily hustling, more long-term solutions.
Obviously that got me thinking, what would those look like? And how can I implement them in our household? Yes, there’s a greater upfront cost, but where we’re looking to live in our house for years to come, we’re happy to play the long game. Cue a lot of research, which I’m about to share with you in the form of five investments for your family, that will save you money. And, along the way, I realised that they’ll also help us to live in a more sustainable manner. Intrigued? Me too.
Install Solar Panels
Solar panels have been popping up on roofs for years, and with good reason. Solar panels can reduce your household electricity bills to the point of non-existence. That’s right, not only can you create enough solar energy to power your home requirements (bringing your bill down to nothing) but at times, you may be able to generate enough to return electricity to the national grid! When solar panels first started appearing, they were large, cumbersome and pretty unsightly, but these days you can get panels which integrate with your roof tiles, or sit slimline on the rooftop.
In terms of outlay, for an average 3 bedroom house in the UK it’s around £6-8,000, slightly more if you install a battery which allows you to store that lovely free energy and use it at a later time. We’ve been quoted return periods for the investment of just under 10 years, depending on the set up and positioning that you go for, so not a quick return investment but with an expected lifespan of over 25 years, worth considering if you’re planning to stay in your home for a while!
Switch To An Electric Car
Between commuting to work, school runs and nightly taxiing of children to different clubs and activities, we quickly rack up miles in our cars but over short journeys. Over the past few years we’ve been researching electric cars, and finally feel ready to switch as soon as our current car needs replacing (so… soon!). Finding an electric car that can handle country lanes and still fit a family of five, has definitely been a challenge, so I was pleased to see the latest addition smart have made to their range; the smart #5 SUV; a five seater all-electric vehicle designed for countryside adventures.
Electric car savings are particularly efficient if you’re able to charge at home, rather than paying a premium to charge when out on the go. For families like us, with journeys almost always around our home area, we’re in a strong position to save money, especially if we’re savvy with how and when we charge it. Different tariffs are available from providers for overnight charging at home, at a reduced rate, making it far cheaper than the normal cost of fuel. Want a double saving? Pair your electric vehicle with solar panels at the same time – even better for your wallet!
Improve Your Insulation
Did you know that poor insulation in your home can cost you up to £250 a year more in energy bills? Whether it’s through poorly insulated walls or a lack of insulation in the loft space, that’s a huge amount of heat that you’re paying for, to then lose every year. Improving your insulation can be done in different ways, but one of the easiest to be able to do yourself is to replace or add extra insulation in your loft – reducing heat loss from the top. There’s also other options such as getting your cavity walls insulated, or ensuring that your windows are double glazed to reduce lost heat through walls and windows.
Because poor insulation is an issue in many homes, the UK government also offer a number of grants to homeowners which can either partly or wholly cover the cost of improving your home’s insulation rating. It’s always worth having a look around as grants like these are widespread and mean that you don’t need to invest as much (or anything) to save yourself some money!
So there we have it, three investments you can make that will save your family money, and they’re eco-friendly at the same time!
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