On the third day of Money Week, Jubilee Budget Advisory Services manager Simon Tierney discusses money and electricity with Collette Devlin.
The energy demands on a home have increased with the regular use of heat pumps, dishwashers, televisions and more electrical devices.
"A typical family power bill has gone up 78 per cent in the past eight years, with the average family power account for Southland around $300 per month. But there are so many variations to this," Mr Tierney said.
About 40 per cent of an electricity bill was for water heating and just 10 per cent went on lighting, he said. "Turning lights off is important but not wasting hot water is crucial."
Many Southlanders were trying to pay a monthly lump sum, even though they got paid weekly.
He advised people to make most of flexible bill paying options.
"People are putting off the inevitable. If you are getting paid weekly, you should pay electricity weekly."
SIMON TIERNEY TIPS
Shop around for a better rate – whatsmynumber.org.nz is a free site to help you compare prices and save money.
Most electricity providers have a "smooth pay" option, which will average out your yearly bill to equal weekly, fortnightly or monthly payments. Great for budgeting and will still qualify for early payment discounts.
If you are paid weekly, pay your power weekly – it avoids any surprises.
If buying new appliances, check out the energy rating and compare. Paying a little more now may save a lot in the long run.
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