March Press Release:
As soon as Christmas is out of the way and the long, dark slog through January begins, many of us start to look forward to the arrival of spring, with its lighter nights and milder temperatures.
On Sunday March 31, 2024, the clocks go forward by one hour, finally marking the beginning of British Summer Time (BST).
Why do the clocks change?
In the UK, the clocks change twice a year: once in March, when they ‘spring forward’, and again in October.
At the end of October, they ‘fall back’ an hour so that we can make the most of the available daylight.
It is said that in the 1900s, British builder William Willets was riding his horse in Petts Wood, when he noticed a number of neighbouring houses with their curtains drawn, despite the daylight. He began to ponder the possibility of adapting the time to make the most out of the available hours of daylight.
In 1907, William self-published a leaflet titled ‘The Waste of Daylight.’
The concept was unfortunately overturned in the House of Commons; however, the idea later resurfaced during World War One. Britain was experiencing a shortage in coal, which was the main source of power. Extended daylight hours provided an opportunity for less coal-powered lighting, and so William Willet’s Daylight Saving campaign was finally passed on May 17, 1916.
How might the start of British Summer Time affect me?
The combination of lighter mornings and evenings may contribute to an overall improvement in our mood. Theories have suggested that exposure to sunlight results in a boost to our levels of mood-regulating hormone, serotonin.
The benefits of British Summer Time don’t end there.
We spoke to Dan Whittaker, a personal finance expert at Viva Money, to gain an insight into how British Summer Time could even help you save money.
1. Save on your bills
“With temperatures rising and hours of darkness fading, we’re less inclined to turn on the heating and lights. Our bills may reduce as a result of this. If your heating and water have been programmed to turn on at set times over the winter, you might want to review this.
“You may also find that certain times of the day are more cost-effective for certain chores, such as laundry. Some energy companies offer a cheaper energy tariff between the hours of 11pm and 7am – you can find out if this applies to you by accessing your energy account.”
2. Ditch the dryer
“You know you’re officially a British adult when you stand by the window on a sunny and blustery morning and happily state that it’s ‘a good drying day!’ Spring typically brings days that are both brisk and bright – an ideal mixture for drying. If the forecast is clear, hang your washing out on the line rather than stuffing it in the tumble dryer.
“Using a vented 9kg tumble dryer costs around £1.54 per cycle, based on the current price cap, which runs between January 1 and March 31, 2024. If you tend to tumble one load a week, ditching the dryer in favour of a free, natural alternative could save you around £6.16 per month.”
3. Reconsider your gym membership
“It’s estimated that 67% of gym memberships go unused. If you joined the gym in January with good intentions but haven’t been as much as you’d like, now might be a good time to reconsider that membership, rather than allowing it to roll on and eat into your monthly budget unnecessarily.
“Make use of the lighter nights by taking up a new, free hobby instead, such as walking, jogging, or cycling. You could make your savings stretch even further by ditching the car or public transport in favour of running or cycling home from work instead.”
4. Spring clean your income
“Seeking savvy ways to boost your income? Look no further than a traditional spring clean! Start by working through one room at a time, and set aside anything you no longer want or need. If your unwanted items are in decent condition, think about selling them on second-hand sites and apps, such as Vinted.
“Vinted is free to download on both the App Store and Google Play, and allows users to upload unwanted items for sale, such as clothes, shoes, accessories, toys, books, and household items.”
5. Grow your own
“Statistics revealed that three out of every ten UK adults have a vegetable patch.
On average, families could save up to £2,000 a year by growing their own fruit and vegetables, and the best time to sow seeds is between March and May.
“Intrigued but not sure where to start? You can find a number of beginner’s guides to vegetable patches online to kickstart your frugal foodie inspiration, including this one on Gardeners’ World. Gardeners’ World have also put together this article detailing 10 easy to grow vegetables for beginners.”
Viva Money has shared ways that the changing of the clocks could help you save money this spring.
-ENDS-
About Viva Money
Viva Money is not a lender but is a fully regulated and authorised credit broker. Viva Money is a registered Trading Name of Digitonomy Limited, Registered in England and Wales (Company number 08385135), Registered Office; Steam Mill Business Centre, Steam Mill Street, Chester, Cheshire, CH3 5AN. Digitonomy Limited is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register under reference number: 690249. Licenced by the Information Commissioners Office, (registration number ZA007309).
Website: https://vivamoney.co.uk/
Dan Whittaker - Personal Finance Expert at Viva Money
Dan has worked in the consumer finance sector for over a decade in a number of roles, including developing and maintaining commercial partnerships, marketing, and digital development.
Dan has strong market and product knowledge across a range of consumer finance products including, but not limited to, credit cards, savings, loans, and mortgages.