I almost missed this one. Was scrolling through my emails at 10:43 this morning when I spotted the alert from British Gas about their Green Flex event happening TODAY. Literally had to drop everything and reschedule my work calls to take advantage of it.
Listen. If you're one of the 7 million British Gas customers and you're reading this between 11am and 1pm on Wednesday (April 16th), stop what you're doing and turn on your washing machine. RIGHT NOW.
What the heck is this deal anyway?
British Gas is running another one of their flash sales on electricity - 50% off for just two hours. It's their second Green Flex event this month, triggered by all this insanely windy weather we've been having. More wind = more renewable energy = cheaper rates for a tiny window of time.
But here's teh catch - you need to be signed up to their PeakSave program already. Nothing pisses me off more than these last-minute announcements when half of us aren't even eligible.
My neighbor saved HOW much?
My neighbor Dave has been on this PeakSave thing since January. Showed me his bill last week (yes, we're the kind of neighbors who talk about energy bills... welcome to your 30s). He's already saved £78 just by shifting when he does laundry and runs the dishwasher. That's basically a free dinner out with his wife.
I signed up three weeks ago after he wouldn't shut up about it.
The whole program is actually pretty clever. British Gas has already paid out over £23 million to more than 920,000 customers. That's not marketing fluff - that's actual cash credited to people's accounts.
So how do you actually get this?
You've gotta be a British Gas customer first (obviously) and have one of those smart meters installed. Then you need to register for PeakSave through your account.
Once you're in, they'll email you when these Green Flex events are happening. Today's only lasts from 11am to 1pm - I've already got my washing machine running and plan to vacuum the entire house at 12:30.
Oh, and they also offer half-price electricity EVERY Sunday from 11am to 4pm. Been doing my meal prep during those hours since I found out.
What if you're stuck with another provider?
Don't worry, other companies are jumping on this bandwagon too. Back in 2018 when I worked in energy consulting (before I quit to write full-time), we predicted this would happen eventually. Took them long enough.
EDF has this "Sunday Saver" thing where you can earn up to 16 free hours of electricity on weekends.
Ovo's running some contest called "Power Move" with prizes up to £2K in free energy. The odds seem terrible though - like 5 people win the big prize out of thousands.
Scottish Power does the weekend discount thing too - 50% off between 11am-4pm every Saturday and Sunday.
E.ON gives free electricity on Bank Holidays until 2026. My sister-in-law swears by this one. She's already planning to do three loads of laundry on Good Friday (April 18th).
Octopus has these random "Saving Sessions" when wholesale prices drop below zero. My editor switched to them last year adn won't stop texting me about how much he's saving.
Is it actually worth the hassle?
Honestly? It depends how much electricity you use. For a family of four running multiple appliances, absolutely. For a single person in a flat who's barely home? Probably not worth rearranging your life.
I spent $4K on a new heat pump system last year, so I'm grabbing any discount I can get. My heating bills have been like watching money evaporate through the ceiling.
The whole thing feels a bit like extreme couponing but for your electricity. You know those people on TV who spend 6 hours planning their grocery shop to save $27? It's giving that energy... but without quite so much effort.
Gotta run now - just realized my dishwasher needs to go on before this discount window closes!
Frequently Asked Questions
How can I budget my money effectively?
To budget effectively, start by tracking your income and expenses to understand your spending habits. Set realistic financial goals, categorize your expenses, and allocate funds accordingly. Regularly review and adjust your budget to ensure it reflects your current financial situation and objectives.
What is the difference between saving and investing?
Saving typically involves setting aside money in a secure account for short-term needs or emergencies, while investing involves using money to purchase assets like stocks or real estate with the expectation of generating a return over the long term. Investing carries higher risks but offers the potential for greater rewards.
What is the importance of financial literacy?
Financial literacy is essential for making informed decisions about budgeting, saving, investing, and managing debt. It empowers individuals to understand financial concepts, evaluate risks, and navigate complex financial products, leading to better financial stability and long-term wealth building.
What are credit scores and why are they important?
Credit scores are numerical representations of an individual's creditworthiness, calculated based on credit history, payment behavior, and debt levels. They are important because they impact the ability to obtain loans, credit cards, and favorable interest rates, affecting overall financial health.
What are the different types of money?
The main types of money include commodity money, which is based on physical goods like gold or silver; fiat money, which is government-issued currency not backed by a physical commodity; and digital currency, which exists electronically and is often decentralized, such as cryptocurrencies.
What are the risks associated with investing in the stock market?
Investing in the stock market involves several risks, including market volatility, economic downturns, and company-specific factors that can lead to losses. Investors may also face liquidity risk, where they cannot sell an investment quickly without incurring a loss. Diversification and thorough research can help mitigate these risks.
What is the definition of money?
Money is a medium of exchange that facilitates transactions for goods and services. It serves as a unit of account, a store of value, and a standard of deferred payment, allowing individuals to compare the value of diverse products and services.
Statistics
- As of 2021, the median household income in the U.S. was approximately $67,521, according to the U.S. Census Bureau.
- A report by Bankrate indicated that only 29% of Americans have a written financial plan.
- In 2020, the average retirement savings for Americans aged 60 to 69 was approximately $195,000, according to Fidelity.
- According to the Bureau of Labor Statistics, the average American spends about $1,500 per year on coffee.
- According to the World Bank, around 1.7 billion adults worldwide remain unbanked, lacking access to basic financial services.
- As of 2021, the average student loan debt for recent graduates was approximately $30,000, according to the Federal Reserve.
- The average return on investment for the S&P 500 over the past 90 years is about 10% per annum.
- A study by the National Endowment for Financial Education found that 60% of Americans do not have a budget.
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How To
How To Develop a Good Saving Habit
Developing a good saving habit begins with setting clear financial goals. Determine what you are saving for, whether it’s an emergency fund, a vacation, or retirement. Start by automating your savings; set up a direct deposit from your paycheck into a savings account. Aim to save at least 20% of your income, gradually increasing this amount as you become comfortable. Track your spending to identify areas where you can cut back and redirect those funds to your savings. Regularly review your savings progress and adjust your contributions as necessary to stay motivated and achieve your goals.
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