This seems appropriate, since there's a current surge in unscrupulous marketers cashing in on the current "fuel crisis" by claiming that this style of heater will heat your whole house for pennies.
In reality, a watt is a watt and a 500W heater like this will take four times longer to heat a room than a traditional 2kW heater.
Electric heaters are 100% efficient in converting electricity to heat, but the cost of electricity makes them less economical to run than some other heat sources. However, if you don't use a lot of heat then you also have to factor in the other costs of things like oil and gas heating, like annual inspections and servicing. I do use an electric heater for a heat boost at times during the winter, but generally have a cool house and use dehumidifiers to keep it dry.
If you do wish to reduce your heating costs than a good compromise is to reduce the temperature in your home to a level that protects pipework, and wear warmer clothing. If you live alone then one of the best things for winter is a quilted/padded boilersuit/coverall, as it's basically a wearable duvet. That's why so many farmers wear them in winter.
An alternative is to heat your home at low level and then use local heating in a single room for extra warmth.
With current fuel costs (due to greed and politics) it may also be worth looking for areas of heat loss like uninsulated attics and bad door and window seals.
In rural areas it's also worth rediscovering solid fuel burners like log stoves for converting an abundance of fallen tree branches into free, and very toasty heat.
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