One Martin Lewis fan has explained how they helped their parents make a massive £900 saving annually on household bills, by simply following the financial buff's advice. Their story was shared during this week's MoneySavingExpert.com newsletter - with the reader writing into the consumer website to explain their big win.
The reader, known only as username Tinkerbaby, explained they had been asking their parents to get a water meter 'for a long time', before they finally saw sense and agreed to have one installed in their family home. Tinkerbaby says that the couple currently pay £1,400 for the particular utility bill, but the switch will likely see them save £900 annually.
Explaining the situation, Tinkerbaby, Tweeted: "@MartinSLewis Been telling parents for a long time to get a meter, they pay £1,400 as a couple. Dad now getting it installed and it's likely he'll save £900/yr. Wish he'd done it years ago."
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The Mirror reports that the most recent MSE newsletter details how the water industry is in a state of 'crisis' at the moment, with talk of bills surging by as much as 40 per cent - on top of the 5.7 per cent average rise across the UK in 2023 thus far. But one way of slashing your personal costs is to seeing if your property is eligible to receive a water meter.
According to money saving buff Martin, if you have more or the same number of bedrooms in your house than people, it's worth enquiring whether you would benefit. The financial guru often urges people particularly with larger abodes, to see if they would be better off.
That's because water bills are based on the valuation of a person's home, meaning the larger the house, the larger the bill. Not everyone will save with a water meter, but companies will give you two years to trial one and switch back should you be unhappy.
The Consumer Council for Water (CCW) has a meter calculator on its website which can help you work out if you may be better off, by simply asking questions about your usage before revealing estimated costs should you get a meter. These are simple questions like how many people live with you, how many showers are had per week, do you use a dishwasher, and what sort of sum you currently pay.
If you're informed that you cannot in fact have a water meter, the MSE newsletter urges you to 'not give up', as you can ask for an assessed charge to save instead. This charge is calculated by assessing what you would pay should you have a meter fitted.
