Tight budgets can be a nightmare for most homes these days. With the prices of commodities rising at an alarming rate compared to salaries that are increasing at a snail’s pace, life is getting more expensive. Does this mean that you should let go of all the facilities that you love so much in order to save money? While that may be an option that you can consider, the fact is that a few changes in your lifestyle and spending can make huge improvements in helping your household bills. We at Cashco Financial have put together 7 money saving tips that you can use to save money on household expenses:
- Readjust your thermostat: Thermostats are a huge cause of heavy bills. Try re-adjusting your thermostat level to save on your energy consumption. Don’t turn it too low suddenly or your body will not be able to take it. Turn it down by just a degree or two, and see where you can go from there. Even such minor reductions can drastically help you save money on household bills. It’s all a matter of getting yourself adjusted. Once you know that your body has adjusted to the lower level, try to take it another two or three degrees lower.However, do not go overboard on this and freeze yourself, believing that you have grown used to it. There is only so much that your body can tolerate. The moment you realize that you are feeling too cold inside, you should stop that experiment.
- Food: Analyze your food consumption at home. Are you buying more than you need? How much food is getting wasted? How much food lies in the fridge until it expires? Are you eating food that extravagant beyond what is needed? Sometimes we eat things that are unnecessary luxurious and expensive. Make a note of how food is consumed in your home. Cut down on food items that are unnecessary. Let your food be nutritious, filling, yet affordable.Try buying non-perishable food items in bulk to cut down on costs. You can also keep a tab on various coupons that are available each day at different stores and make the best of them. Remember, the key here is not to sleep hungry, but to eat food that is simple yet wholesome.
- Telephone: In an age of cellphones, are landline connections really necessary? Why not get rid of telephones and direct your acquaintances to call you on your cellphone instead? Telephone calls can be expensive, which only add to the other household expenses.
- Electricity: In an age of cellphones, are landline connections really necessary? Why not get rid of telephones and direct your acquaintances to call you on your cellphone instead? Telephone calls can be expensive, which only add to the other household expenses.
- Use Public Transport: One of the major ways you can save on household expenses is by using public transport for traveling. Using private vehicles leads to increased expenditure on gas and fuel, thereby eating away a large chunk of your income. Save money by keeping the use of your private vehicles to the minimum. Not only is this going to help you save money on household expenses, but also help the environment due to the reduction in pollution. Use your private vehicles only when really necessary.
- Get rid of old, inefficient machines: Older the machines, more the inefficient they are. Efficiency is the ability to give more output for lesser consumption of resources. Make a note of all your appliances, including your car, that are very inefficient. If you think that replacing them will be too expensive for you, remember that in the long run, these appliances are actually costing you more money than a one-time new purchase.New machines are energy-efficient and will help you save money on household bills by reducing electricity, fuel, and other bills.
- Home Entertainment: The next thing you should do to save money on household expenses to analyze your home entertainment gadgets. A lot of homes have gadgets beyond what is necessary, thereby increasing cost on internet and electricity bills. Have the few essential gadgets you may require for entertainment like a television and a music player.Computers are more of a more of a utility today than an entertainment and as such, the need for a computer cannot be ruled out.In televisions, keep only channel packages that you know you will need on your television and do not spend unnecessarily on channels you will not watch. If possible, try eliminating televisions altogether. Try making entertainment more about the old-school pastimes, which are not only more productive but more educative and healthier as well.