We've just launched a brand new feature to the site - 'Ask an expert'.
So if we go back to the TV example it’s likely that the retailer will now sell the TV for £86. You may find though that there isn’t a reduction in price - instead the retailer will increase the base price so that the VAT inclusive price remains the same as before. For the TV example the retailer may increase the base price to £86.09 which will mean that the end price is still £99.
You may find that you end up paying more in the longer term when you graduate from uni because the government needs to make the money back it’s lost in VAT from somewhere - it’s likely VAT will rise in the future or they’ll find another tax to try and make some money. From current reports it looks like VAT will return to 17.5% at the end of 2009, before rising again to 18.5% in 2011-2012.
With the current state of the economy loads of retailers are slashing prices in an attempt to stimulate consumer spending. They're hoping that by reducing the cost of gifts etc. people will start to spend money now to try and bag a bargain - which will help the retailers to keep their profits up.
Managing student loans is not easy when you have bills to pay. We want to try and help students across the UK to reduce energy bills so that they come out of university with less student debt. Our tips below can help to save students hundreds of pounds:1) Students can save money on gas and electricity bills by switching providers
We've created a 100% impartial energy search engine which allows you to compare the prices of all gas and electricity suppliers and find the very best deal for your student house. By using a energy search tool all students are able to find the best deal on the market - it's easier than speaking with each provider and trying to get a quote.
2) By buying an electricity meter which shows you how much electricity you are using all students can directly see how much money is being spent on energy. This lets you know what you should be turning off to save some cash!
3) Wear more clothes! By wearing a jumper around your halls or house you can cut down on your heating bill. You should also make sure you turn down the heating when you go home for the holidays (but make sure you don't let the pipes freeze over Christmas!)
4) You can save cash on your energy bills by using energy saving bulbs. Energy saving bulbs use up to 80 per cent less electricity than a standard bulb, but produce the same amount of light. In other words, they can help you to save money and energy, all in one wise purchase. And by saving energy, you'll be helping to fight climate change too. Technology's moved on a lot since energy saving light bulbs were first invented, and so has the way they look. In your mind's eye think of an energy saving bulb, does it look bulky and oddly shaped? Maybe giving off a colder, harsher light than a normal bulb? If so, be prepared to think again. There are now more reasons than ever to buy energy saving lightbulbs.
The savings:
Depending on how long your lights are in use every day, just one energy saving lightbulb could save you up to £7 and 26 kilograms of CO2 a year. Also because it will last up to 10 times longer than a standard bulb, it could save you around £60 before it needs replacing.
These days, the average price of an energy saving bulb is only £3 a bulb, so you'll usually recoup the extra outlay within a year!
5) Turn things off! It sounds pretty obvious but you can reduce your bills dramatically by turning things off. For example turn off any unnecessary lights, turn off your TV and computer fully (not just putting it on standby but COMPLETELY off!), turning off your heating in your room if you go home for the weekend and turning off the tap while you're brushing your teeth.
Leaving appliances on standby uses so much electricity for doing nothing apart from lighting a little red LED light - save yourself some cash and get into the habit of hitting those 'power' buttons.
6) Use 'economy' cycles. Most dishwashers, washing machines and tumble dryers have 'economy' cycles, which basically means that they use less electricity when this option is selected. In your student house you should always make sure that you stuff them full - fill the dishwasher completely and stuff that washing machine so that you do less loads, and therefore use less energy. You should then select the 'economy' cycle to save even more energy. This will help to reduce your electricity costs - especially if all of the students in your student pad do it.
Click here to see how much you can save by using the Student Energy Comparison Tool
Student energy bills are just getting bigger and bigger everyday after the energy companies put up the price of gas by around 30% this year. Most students will move into student accommodation and stick with the current gas and electricity supplier rather than seeing if they can get a deal. If this is you you could be spending loads more than you have to each year.
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