By IQnewswire 
When temperatures start dropping down in Australia, people start worrying about higher expenses for heating their house. Heating a house in the cold months of July and August can be quite expensive, but you do not have to dread your next electricity or gas bills – there are many ways to get back some of those expenses by applying special banking techniques.
Before changing anything in your finance management plan, it is important to understand how you can save on heating your home. There is a widespread myth that the best option for reducing power consumption is maintaining a low temperature setting constantly. In fact, your heating system works harder and uses more power to restore lost heat during a long period. Therefore, it would be better to start heating your home only after you come back home.
The second popular myth concerns small space heaters. Many people consider that this type of heater is less expensive to operate. This is false especially when it comes to an open-plan apartment where a small heater cannot provide sufficient heating capacity, drawing maximum power constantly. The last proven fact is that the majority of home appliances consume certain amount of power when put on standby. Disconnecting your devices from the outlet is a good way to reduce energy consumption.
Utility Bill Cashback Accounts
It may seem unbelievable, but there are certain transaction accounts allowing their owners to get cashback for paying household utilities via direct debits. After connecting a utility provider, your bank returns you part of the payment directly to your account. The utilities cashback options with ING, for example, becomes especially useful for surviving the freezing months as those payments can make a substantial reduction on your heating costs. Be aware that such accounts usually offer monthly limit for cashback that is why you should calculate an average cost before starting.
Reward Earnings via Payments
Some banking companies allow accumulating points for every single payment of utilities that can be later used for purchases. This kind of bonus program allows its users to accumulate points, that can be converted into gift cards and used for purchasing different products. Thus, all you have to do is channel your utilities’ payments in the framework of the relevant account, and you will have enough points to cover some of your grocery bills.
High-Yielding Dedicated Bill Buckets
There is a great opportunity to use high-interest accounts to accumulate certain amount of funds intended for covering your utilities’ expenses. Opening a subaccount in the high interest savings account and transferring a required number of dollars out of your salary into it allows earning interest till your provider withdraws funds for a bill. This tool helps you to prevent a surprise connected with large winter bills and generates additional income on your own money.
Financial tools discussed above cannot become an ultimate solution for reducing electricity expenses and gas costs. You will need to combine your financial and personal efforts to save as much money as possible. Starting with draught proofing of your home can make a substantial contribution as the air can either leave your room or cold winds can penetrate through the cracks and gaps between walls, windows, and doors.
Another great idea is heating yourself instead of heating the whole room. Using thermal clothes, covering yourself with a thick blanket, using a low wattage heater to create a comfortable environment will allow you to stay warm. Also, simply closing doors of other rooms will increase your comfort and efficiency.
ENGRNEWSWIRE