Five tips to save money this winter

Winter 650

The clocks have gone back and the shorter, colder days are here to remind us that winter will soon be with us. Typically, winter is seen as an expensive season – due to the increase in home fuel and utility bills. However, this need not be the case, if you follow some of our top saving tips for winter:

  • Get saving: Now is a good time to save because inflation is at -0.1%* and the cost of living remains, more or less, the same as it was a year ago. Al Rayan Bank’s offers market leading** returns which will enable you to maximise the benefit from this favourable economic situation, in a Sharia compliant way.

    Find out more information about our savings accounts

  • Stay in: A night in watching a film with the family is a good way to save money whilst making use of a lot of energy saving tips. Not only will you save money on travel and tickets to the cinema, but you can shut the curtains (keeping heat in), turn off the lights (saving on utility bills) and watch a film for free (either by borrowing it from the library or by recording it from TV). Just make sure you turn everything off afterwards to make sure you’re not paying to keep them in standby mode.

  • Be energy efficient: There are many common sense ways we can all improve our homes and save money all round, not just in winter. The Energy Saving Trust – an organisation devoted to promoting energy efficiency, energy conservation, and the sustainable use of energy – offers a number of tips on being more efficient at home and on the move.

    Find out more about the Energy Saving Trust

  • Stay in touch – for free: If you have an internet connection, you can use Skype or Google hangouts to stay in touch with family and friends near and far - for free. 

  • Winter Fuel payments: If you or a relative were born on or before 5 July 1952, you may be eligible for the Government's Winter Fuel Payment, and could receive between £100 and £300 tax-free to help pay your heating bills.

    You can find out more information about the criteria

* Source, http://www.bankofengland.co.uk 27.10.15
** From December 2012 to October 2015, at least one of Al Rayan Bank’s savings products was top of the Moneyfacts ‘best-buy’ tables.

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