If you think it's time to turn up the heating, it's time to think again

EACH week The Scotsman gives you a top ten guide to pertinent financial issues. With household bills soaring and temperatures plummeting it is getting harder to keep properties warm and save money over the long term.

Malcolm Warrack, managing director of Cullen Property, shares his top tips on cost-effective household heating – especially timely in the current seemingly never-ending cold snap.

1 HOT STUFF Turn your thermostat down – reducing your room temperature by 1C could cut your heating bills by up to 10 per cent and typically saves about 55 per year. If you have a programmer, set your heating and hot water to come on only when required. Is your water too hot? Your cylinder thermostat should be set at 60C.

2 RESEARCH ENERGY GRANTS AVAILABLE Cavity wall insulation, which costs about 500, can be installed for half price with a grant from your energy supplier, while those aged 70 or over can usually have it installed for free. Loft insulation and solid wall insulation grants are also available at savings of 150 and 400 respectively.

Grants are only suitable for homes built between 1920 and 1999, so book a survey from a Cavity Insulation Guarantee Agency registered installer to check your walls' suitability.

3 REPLACE YOUR OLD BOILER The government will now give home owners with old and inefficient boilers 400 to replace their heater with a new, greener version.

If your boiler is 15 years old or more, replacing it with a new A-rated one and fitting a full set of heating controls can cut your heating bills by up to a quarter. And make sure you book an annual service.

4 DOUBLE GLAZE Aside from cutting out noise pollution, double glazing will reduce heat loss through your windows by an estimated 10-12 per cent, saving you about 135 a year on energy bills. Find out exactly what the window guarantee covers – most replacement window companies guarantee their frames and sealed units for a minimum of ten years. If you cannot afford to replace windows, overhaul your existing sash and case windows.

5 PREVENT CONDENSATION Keep heating levels at a constant temperature, especially in the winter, because cold air causes warm air to release moisture. Ensure effective ventilation by opening windows each day to allow moist air to escape. Try to leave a small gap between walls and furniture, particularly against cold outside walls, and allow ventilation of any cupboards to keep air flow moving. While cooking, cover all pots and pans and do not leave on the boil for too long. Domestic dehumidifiers can also help.

6 FOCUS ON FLOORS If you have wooden floorboards you can insulate them yourself by lifting the boards on the ground floor and laying mineral wool insulation, supported by netting between the joists.

This will cost about 90 and could save you 50 a year. Alternatively you can use a sealant, costing about 20, to fill gaps along skirting boards and between floorboards, saving you about 15 a year.

7 BLEED YOUR RADIATORS It is important to do this once a year as trapped air can affect your heating system.

All you need is a bleed key and a small bowl to catch any water coming out of the radiator.

If you have had to let a lot of air out of any of your radiators, remember to top the pressure up at the boiler.

8 CLOTHES SENSE Drying clothes indoors creates moisture, so do this outside whenever possible. If you do dry clothes inside, keep the window of the relevant room – or the extractor fan – open, and the door shut. If using a tumble dryer, make sure the vent pipe runs outside your property or out of a window.

9 SAVE ENERGY Energy-efficient light bulbs are much more effective now than they used to be. They last longer and – most importantly – use 80 per cent less electricity than traditional light bulbs, saving on your energy bills.

10 SNUGGLE UP People underestimate the right bedding. Use a duvet suitable for the time of year and add extra blankets if you feel the cold at night.