4. Make Energy Efficient Switches Where Possible
From switching to LED lightbulbs to upgrading to Energy Star-certified appliances and home fixtures, Canadian homeowners can save hundreds on their heating, gas, and electricity bills. LED bulbs use up to 75 percent less energy compared to their traditional counterparts, and they last longer – without a detectable difference.
Meanwhile, you can replace old appliances for Energy Star equipment, ranging from furnaces, water heaters, and air conditioning, to washers, dryers, refrigerators, and dishwashers – all of which use far less water and electricity, so it’s better for your bottom line and the environment.
While these upgrades come with an initial upfront investment, you’ll reap the benefits through a decrease in your bills. Check federal and provincial resources for programs that may provide you with a tax break or rebate.
5. Shop Around and Negotiate With Your Utility Providers
Do your homework to see if there are better rates for your gas, electricity, and other utilities. You may find out about promotions for switching companies or that there are discounted times of the day to do your laundry or run your dishwasher.
It’s worth calling your utility providers if you’re struggling to keep up with hefty bills – they make have solutions for saving on winter energy bills or point you to municipal or provincial financial assistance programs created in the face of rising energy prices.
6. Contact your Creditors
If you’re struggling to keep up with winter utility bills and debt payments, call your creditors. Explain to them that your budget is stretched thin and that your recent heating charges have meant that you’re facing difficulties in making the minimum payment on your account.
They might extend a grace period of a month or two for payments, remove penalties, or lower your interest rates during the colder months of the year. Or you may qualify for equal billing and get help all year. Equaling billing means that your bills stay the same each month with either a credit or additional charge only on your anniversary date.
Seek Advice From a Credit Counsellor If You’re Struggling to Pay Your Bills
If the heightened costs of running your home are digging you deeper into the red, consider meeting with one of our credit counsellors. Since 1996, we’ve been working with Canadians, helping with budgeting, creating a debt repayment plan, and consolidating debt payments. We’re happy to share our best tips and guidance with you. Our appointments are free, confidential, and you can talk to a credit counsellor in person or over the phone. You aren’t obligated to take any further action or sign up for anything you don’t want. The meeting is a judgment-free zone with no hidden fees, fine print, or strings attached. We’re happy to help if you’re struggling so that you don’t have go it alone. Contact us by phone at 1-888-527-8999 or online.
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