How to Save Money on Household Expenses

When it comes to managing your personal expenses, one of the biggest challenges is finding ways to trim them down. Each individual bill may seem rather small when you look at it in isolation. However, when you add all those expenses up, it can come to a very significant amount. If you’re wondering how you can cut some of your expenses, then you’ve come to the right place. There are many different ways you can save money, most of which are quick and simple. Without too much hassle, you’ll be able to trim some of your bills to a more manageable size if you try some of the following tips. 

Cut Your Transport Expenses

Why is it that we all feel such a need to own our own vehicles? They may be a very convenient way to get around, but they are such a drain on resources. Add to the cost of running a car, the cost of depreciation, and you could be spending more than $8,000 on your car every year. 

So, what are the options if you think you can manage without a car? Using public transport is the most obvious choice, but not always the most convenient. There are also a variety of rideshare services that allow you to rent or hire a ride if you want a day trip to the country, for example. Carpooling is becoming increasingly popular, and many forward-thinking companies encourage this with company schemes.

Keeping your car well maintained and the tires properly inflated will make a difference to your gas mileage by 1%. 

Certain credit cards offer special deals when paying for your gas at the pumps. This list will give you all the details. 

Reducing Your Debt

Reducing the amount of money you owe is going to lower your monthly expenses. There will be fewer bills to pay, so you’ll be able to save more money. There are a number of ways you can save on debt.

1. Refinance your home: You could be eligible for a lower interest rate which will save you money. Ask your lender if there are any deals you can take advantage of.
   
   
2. Consolidate your loans: If you’re paying a particularly high-interest rate on some of your debt, it might save you money if you find a lower rate and switch to combine your loans into one easy payment.
   
   
3. Reduce your credit card rate: Get in touch with your credit card company and ask about a rate reduction. They may be willing to offer you a lower rate, but if not, you always have the option of choosing to switch to another card and using a 0% balance transfer. 
   
   
4. Sell, sell, sell: If you’ve got cupboards full of things you never use, then sell them on eBay or Craigslist. Use any money you make to pay off some of your debt. 
   
   

Cut Your Energy Bills

Do you know how much you spend on energy bills?  The average householder spends more than $2,000 every year on utility bills. While technology has given us an endless number of gadgets we can keep plugged in or that need recharging, it has also given us a number of great ways to improve energy efficiency and reduce your energy bills. Here are a few ideas:

1. Use CFL or LED light bulbs: Perhaps it about time you updated the lightbulbs in your home. LED and CFL bulbs are four times more efficient than incandescent bulbs and last many more years.
   
   
2. Programmable thermostat: With a programmable thermostat, you can change the heating and cooling automatically. It works when you’re not at home, when you’re asleep, 24 hours a day, seven days a week. You’ll be surprised what a difference it makes with your heating and cooling bills.
    
3. Unplug: When you’re not using certain devices around your home, make sure you unplug them. As well as being much safer, it will also save you money. When plugged in, most electronic devices draw a small amount of electricity. It may be a small amount, but when you add up all the devices not in use, it can be a significant saving. 
   
   
4. Lower your hot water temperature: Your water heater is one of the most significant energy drains in your home. It can account for as much as 14% of your total energy costs. How hot is your water? Is it set much higher than you really need? Around 60 degrees Celsius is more than hot enough. Add a water heater blanket, and the saving will be even greater.
   
   
5. Prevent drafts: How insulated is your home? Losing cool air in the summer and hot air in the winter will increase your energy bills. Seal up any cracks and gaps to prevent drafts.
   
   

How to Save Money on Food

Food is an area of your life where you can make big savings. It’s common for people to eat more than they need, and to spend more on grocery shopping or eating out than is necessary. You can save money on your food bill by:

1. Buying in bulk: Buying nonperishable items in bulk can be a great way to save money. When you’re wandering around the store, make a note of the cost per unit of the items you’re buying and choose the best deals. Using coupons are another way to save your cash.
   
   
2. Eat out less often: It is nice to eat out now and again or enjoy the odd take-out, but it is also a very costly way to eat. Dining at home is far more affordable and can be just as convenient if you prepare meals in bulk and freeze the excess for another day. 
   
   
3. Grow your own: As well as saving you money, growing your own vegetables and fruit is very satisfying. It’s a great hobby to start, and you don’t have to be an expert to grow some very tasty fare for the table. 

The tips above are just a drop in the ocean if you’re looking for ways to save money. What may seem like small savings, when combined together, they can make a big difference.