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October 17, 2024
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Consumer finance expert shares 6 tips on how to save money using apps – including how to slash up to £140 off your electricity bills


The average Brit adult relies on seven apps to streamline their daily lives and save time, money, and energy, according to new research by Smart Energy GB.

In fact, these ‘life admin’ apps are so crucial for some people that well over half – 62 per cent – say they would ‘struggle to stick to their daily routines without them’.

Among the users of the tech, some 68 per cent of Brits use apps to manage personal finances, 35 per cent to plan schedules, and 25 per cent to stay on top of fitness and wellness. And with the energy price cap rising again recently, one of the key areas where apps are found most useful is when it comes to keeping track of energy usage.

According to the research, 21 per cent of Brits use apps to control household appliances and 69 per cent use energy management apps to check their smart meter and monitor their energy use. Around two-thirds (65 per cent) of those who do so believe this has also helped them save money on their bills.

Now Smart Energy GB has partnered with consumer finance expert, Steph McGovern, to offer her top tips and advice to get the most out of life admin apps, including how to use them to track spending and energy use. 

Consumer Finance Expert Steph McGovern (pictured) has shared tips on how you can save money using apps

Consumer Finance Expert Steph McGovern (pictured) has shared tips on how you can save money using apps

To help consumers get the most from these apps, Smart Energy GB has teamed up with Consumer Finance expert Steph McGovern to offer handy tips, including tracking spending, cancelling unused.

According to the research, the average adult uses seven life admin apps to manage their daily routines, with half agreeing their trusted apps are key to helping them stay productive

Over three-quarters use smartphone apps to manage their households, including checking their energy bills, setting timers, and monitoring appliances.

Almost half (44 per cent) admit their life admin apps help them feel more in control and can even help them to save money (65 per cent).

Households that have a smart meter believe they have saved an average of £140 per year by using it to help with energy management.

In addition, 22 per cent say using life admin apps across their devices to help increase their productivity, with 46 per cent saying they help them to save time. 

Managing personal finances is also a helpful feature for 68 per cent, planning their schedules (35 per cent), and staying on top of their fitness and wellness (25 per cent).

Meanwhile, just over a fifth (21 per cent) use apps to control household appliances, and one in six (17 per cent) to remotely adjust thermostats, while seven in 10 (69 per cent) use energy management apps to check their smart meter and monitor their energy use.

A huge number of Brits use apps to help reduce their energy usage, as well as save time, and stay on top of their fitness and wellness

A huge number of Brits use apps to help reduce their energy usage, as well as save time, and stay on top of their fitness and wellness

The research shows that the benefits of using life organisation apps are clear, but those with a smart meter could be reaping even more rewards.

Three-quarters (77 per cent) of smart meter owners say they use apps to receive alerts that their energy supplier is running an energy reward scheme, which offers financial rewards for using energy more flexibly. 

The top 10 apps Brits are using to organise and stay in control are

Ttop 10 apps Brits are using to organise and stay in control are:

Banking

Reward apps

Personal bills

Managing energy bills

Calendar apps

Travel booking

Grocery shopping

Broadband and other household bills

Setting timers

Productivity

Smart meter tracking

A massive 97 per cent say this information allows them to plan their weekly schedules to take advantage of the potential savings by using less energy when demand is high and using more when excess is available.

With 42 per cent of Brits saying they conduct their weekly food shop via a supermarket app, 32 per cent use them to book social occasions, it shows just how embedded these apps are in Britons’ daily lives.

Consumer Finance Expert Steph McGovern, Consumer Finance Expert said: ‘Apps have turned mobile phones into pocket personal assistants which have become indispensable tools for managing our lives. 

‘They really help keep you on top of life admin, especially finances, when it comes to energy usage and bills. And, remember to keep an eye out for the energy reward schemes that may be available to you, if you do have a smart meter installed.

Victoria Bacon, Director at Smart Energy GB added: ‘We tend to feel a lot more in control when we have easy access to and visibility of our bills, accounts and memberships. This is definitely the case when it comes to energy usage.’

‘Many people with a smart meter use their energy provider’s app to manage their account meaning they can check their usage and account balance remotely at any time, so the benefits of smart meters already go beyond the in-home display. 

‘Having a smart meter also enables you to access schemes or tariffs that reward you for being more flexible in the way you use energy.’

Steph McGovern shared her six top tips for reaping the lifestyle and financial benefits of handy smartphone apps.

1. Spreadsheet your life

It sounds boring, but the more you know about what’s going in and out, the more control you have. There are loads of apps to make it easy for you. They will categorise your spending in a simple way so you can see where you might be wasting money.

2. Monitor your energy use

Use your smart meter data to help stay on top of your household energy spend by regularly checking your usage and bills on your provider’s app. It will help you avoid unexpected spikes with your bills.

3. Keep yourself notified

If you have a smart meter, energy app notifications will keep you updated on any offers or schemes that could help reduce your bills.

4. Smart home heating

Lots of UK households now have a smart thermostat. This gives you remote control of your home’s heating so you can choose when to switch it on. Like on your way home from work, or when one of the energy reward schemes is running.

5. Track unused subscriptions

There are apps which track the subscriptions you are signed up for - these can be very useful when it comes to cancelling services you don't need and may have forgotten about

There are apps which track the subscriptions you are signed up for – these can be very useful when it comes to cancelling services you don’t need and may have forgotten about

Don’t pay for stuff you don’t use. There are apps that will monitor your subscriptions and monthly payments then cancel the ones you’re not using.

6. Make your money pay

Cash back, air miles and loyalty points are all things you could be collecting every time you pay for something. Find apps with rewards that suit you.

If you are interested in finding out more about getting a smart meter installed, you can visit www.smartenergygb.org, or search ‘get a smart meter’.

For more information on the energy reward schemes available, customers should visit their energy provider’s website and download their apps.



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