From dishwasher to lights – people could cut bills by ‘over £500’

Its experts said: “Items set on top of the insulation squash it down, preventing insulation from working.

“It’s better to insulate your attic, then add extra insulation by installing insulated boards on top of the joists and place your storage items on top of the insulated boards.”

Most heat is lost through windows – myth

According to Classical Finance experts, heat is lost predominantly through the walls (35 percent) and roof (25 percent), and only 10 percent through the windows.

They said: “New windows may be helpful, but make sure that your walls and attic are properly insulated too.”

Putting the thermostat on high in short bursts will lower costs – myth

Another common tip to reduce bills is to turn the thermostat to high in short bursts. The intention is to heat the room up quickly and not leave the heating on for lengthy periods of time.

However, Jess Steele, heating technology expert at BestHeating said: “It doesn’t help to turn the thermostat up high to try and heat a room quicker as this only makes the room warmer at the same speed.

“By the time you turn it off this will only cost money without reward as it will not make a house feel warmer at all and raise bills.

“Instead, set a timer for the most common periods you need a warm house such as just before you wake up and when you are relaxing in the evening, but turn this off if the weather is a little warmer than usual during the cold spell.”

Eco-friendly swaps are seeming to make one of the largest differences.

AMDEA chief executive Paul Hide said: “Millions are missing out on the money-saving potential that the sustainable technology in-built in their appliances can provide.

“Our industry experts are keen to show householders – facing current pressures on the cost of living – that today’s fridges and washing machines can do a great job using a fraction of the energy and water needed a decade ago.

“[AMDEA’s website] Know Watt’s What is the coming together of industry advice to householders on how to purchase, use, maintain and repair appliances, with reducing energy use as a priority.”