Consumers urged to be wiser as British Gas raise prices

Consumers with pay day loans need to look at all areas and consider their spending after British Gas announced a further round of energy price increases.

Alastair Harnby, marketing director at Moneyextra.com, said that there will be a tighter squeeze on household budgets following the news.

"It will be important for consumers to become wiser spenders in all areas in order to compensate for a larger proportion of their income going to energy bills. Consumers need to take precaution now by reducing their bills and staying out of debt," he added.

Mr Harnby also introduced five handy tips from Moneyextra.com, which will help consumers reduce their utility bills.

Gas and electric bills should be combined together as these are normally cheaper when paid for together, while paying online can also help to save money.

Direct debit payments give access to better premiums, while home improvements like insulation could help keep heat in the home.

Further increases can also be protected against by using a fixed-tariff rate, according to Moneyextra.com.

According to the Daily Mirror, British Gas will net bumper half-year profits, and comes just two days after it put gas up by 18 per cent and electricity by 16 per cent.

Moneyextra.com recommends you take independent financial advice before acting on any article

Back

2011-07-12 16:37:45 © Moneyextra.com