How to Make Savings Around the Home
We all want to save more of our hard-earned money for those important things. From sorting out your utility bills to managing your kitchen better or planning for Xmas, there are plenty of ways to lower costs and make your budget go much further.
Here are just a few ways to boost you household savings:
1. Change that utility provider
We’re asked to do it again and again by consumer watchdogs. Changing your utility provider can deliver big savings on your gas and electricity bills. If you don’t want to swap, the other option is to give your utility company a call and bargain your way to a better tariff. This can work just as well if you stick to your guns.
2. Check out your other bills
It’s not just gas and electricity you should think about. Everything from your insurance cover to your TV entertainment package offer chances to save money – all you need to do is pick up the phone. Most of these businesses want you to stay a customer, so giving them a call and negotiating a better deal is much easier than you think.
3. Gas and electricity use
You can also make big savings if you change your habits. A large part of household budgets is taken up nowadays by these bills. Turn off the lights when you’re not using them, switch to more economical LED bulbs, don’t leave things on standby and turn your gas thermostat down by a few degrees and you’ll suddenly be saving money.
4. Keep track of your budget
Getting feedback helps us to moderate or change our behaviour. That’s how fitness apps work. You can do the same with your finances by using an online budgeting app or service that allows you to keep track of everything you spend. Once you see what you are doing in detail, you can begin to save more because you spot areas that can be tightened up. These platforms are particularly good when it comes to times like Christmas when most of us tend to overspend without realising it.
5. Curb your shopping
Many people do more than one shop a week and plan things like meals on the hoof. Doing one big shop and setting your menu for the week can mean you spend less in the supermarket and don’t get distracted by those extra special offers. Shop on a full stomach (research shows we buy less when we’re not hungry) and buy in bulk where you can – larger packs of produce like pasta and rice cost less in the long run. Bag the bargains rather than spend on the premium products. There’s usually little difference between them apart from the price tag.
6. Walk don’t ride
How often do you get in the car to go down the shops or to pick up the kids? Walking rather than riding not only gets you fit but also saves you money on petrol. If you want to get to work and get super fit, then consider investing in a bike if it’s not too far.
7. Extend rather than move
When your family is growing and you need more space, buying a new home might be top of the agenda. A little rethink, however, can save you a lot more money. The time is ripe to consider building an extension that will give you that extra space and add value to your home. It also generally costs a lot less than buying a new, bigger house.
That is before we even start taking into account the money saved on Stamp Duty, Estate Agents, Solicitors and other moving costs!
All these simple tips can shave money off those household budgets and give us a lot more spending power. If you’re saving for a holiday, simply want to invest in something special or just want to make the most of your cash, every little certainly helps.