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At a time when many of us are looking to cut back on our spending, we often overlook the simple ways in which we can reduce our monthly outgoings.

One of the simplest ways to save is by reducing the amount of energy we waste. The average British household wastes around £300 worth of energy each year. When you consider what £300 could be used to pay for instead, it surely must make you consider trying to reduce the amount of energy you waste.

There a number of simple ways in which you can reduce the amount of energy you waste. One way is to reduce the temperature on your thermostat by 1°C. According to the Energy Saving Trust, this could cut your heating bills by up to 10 percent and typically saves around £65 per year.

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Another simple way of reducing the energy you use is by turning off lights when you leave the room. Although it sounds obvious, many people leave lights on unnecessarily. Taking the time to turn the lights off before you leave a room will save you money in the long run.

Leaving televisions, computers and other electrical appliances on standby is another major way in which energy is wasted. TV's left on standby in the UK use around £116 million worth of energy every year and DVD and video players consume more than £225 million while on standby. Computers left on standby account for even more wasted electricity in the UK. A computer can still use up to 75% of its energy when left on standby, collectively costing British households £800 million a year.

These simple energy saving tips are just three of many ways in which it is possible to reduce the amount of energy you waste. Whilst some of the mentioned money saving suggestions might seem quite basic, they can prove to be very effective. Saving money on your utilities needn't be time consuming and difficult. Taking a little time to consider the energy you use can lead to significant savings in the long run.

David James Wilcox is a web author based in the UK

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