While energy prices have soared, many consumers still place high value on keeping their homes warm during the winter.

Such is the claim of the Motley Fool, which has noted that after an unremarkably mild summer, many Britons are keeping an eye on the thermostat as temperatures start to plunge. With the mornings darker and the nights longer, the independent financial advice site noted that 37 per cent of people are willing to fork out as much as 60 pounds a month more on their heating bills by turning on their central heating early. Indeed, the group noted that nearly a third (30 per cent) have already done so. Following on from the results, the Motley Fool warned that the soaring costs of gas and electricity should give people good cause to rethink the way they use energy.

In addition to switching to the cheapest tariffs and turning off lights and appliances, the group also urged people to make sure their home is properly insulated in an effort to avoid leaving their finances out in the cold this winter. For those who are looking for an effective way to fund major property renovation work over the coming months, taking out a homeowner loan may provide the cash necessary to make sure that work is carried out quickly and professionally, possibly allowing people to partly offset the monthly repayments with the savings made on lower heating bills.

Opting for this type of loan may be of particular interest to the eight per cent of people who have already turned their heating on, after the Motley Fool warned that they could find themselves exposed to some lofty heating bills.

David Kuo, head of personal finance at the group, claimed: “We use too much, lose too much and pay too much for our energy. Thankfully, we can do something about all these things. If you have never changed energy provider then consider switching to a cheaper tariff. You should also check to make sure you are claiming all the benefits you are entitled to. Additionally, energy companies are obliged to help people who have trouble paying their bills. No one in the 21st century should have to live in freezing conditions to save money, regardless of how expensive fuel bills rise. After all, Queen Victorias reign ended in 1901.”

In further efforts to reduce energy expenditure, the Motley Fool urged struggling consumers to make sure they are on the most economical payment plan. It noted that by switching to direct debit, people can lop as much as ten per cent off their bills. So too, investing in devices such as thermostat timers can help to make sure that money is not wasted by forgetting to turn off the immersion heater during the day.

Consumers looking to heat their home more effectively may wish to apply for a homeowner loan to make long-term savings on their heating bills. Opting for this type of loan may be of particular interest to those consumers who are forgoing the essentials in an effort to keep their property warm. A recent report by Saga indicated that 21 per cent of people are now using food money to cover their gas and electricity bills.

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