Martin Lewis: money saving expert reveals the cheapest time of day to use your washing machine
Amid the cost of living crisis, Martin Lewis recommends using washing machine between 11pm and 8am to cut costs
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Martin Lewis has revealed the time of day that you should never use your washing machine, depending on your electricity tariff.
The finance guru, 50, from Manchester, has shared a plethora of money saving tips over the last few months to help households fight against the rising costs of living.
Large appliances like a dishwasher, tumble dryer or washing machine can quickly add pounds to your household bills if you’re not careful.
A household of two adults and two children runs on average 468 washing machine cycles a year, which costs an annual price of £159.12 at the moment.
However, this price is likely to increase when the energy price cap rises from £2,500 to £3,000 next April due to Jeremy Hunt’s Autumn Budget which was annouced yesterday.
Whilst on ITV’s This Morning, Martin told viewers that the most expensive time to do your laundry is between 4pm and 7pm, whilst confirming that the cheapest rates are usually available between 11pm and 8am.
Martin said: “The rough rule of thumb is that you want storage heaters and 40% or more of your electric to be in overnight period to be worthwhile.”
Unfortunately, this money saving tip only applies to households that are on a Economy 7 or 10 tariff, with Martin adding: “If your house isn’t set up to do that, don’t bother.”
These tariffs give you cheaper rates during the night and more expensive ones in the daytime, but if you are not on one of these tariffs, you’ll likely pay the same amount at all times.
The money saving expert has issued this advice as people are being encouraged to sign up for a energy scheme which will give them money back on their bills.
To get the money back, electricity suppliers will expect customers to shift their use of power away from peak times to help prevent blackouts between November and March.
Be aware that leaving household appliances on at night could be a fire risk, so make sure you are awake during the washing cycle.