Simple and Easy Money Saving Tips: Cut Down Costs at Home

Running a household can be expensive, so it’s only natural to want to find ways to save a bit of hard earned cash here and there. And you will be surprised at how easy it is to cut down on your costs in a manageable and positive way can be, without altering your current lifestyle too much. In this article we look at five ways you can do just that:

Make a Budget 

Making a budget plan is the most important step in order to cut down on your costs at home. By sitting down with your partner and making a list of all the outgoing costs you have and how much they each cost you will be able to see how much you spend every month, and what you are spending it on. You will also be able to asses if and where you can afford to make the necessary cuts.

Unplug all Unused Electrical Appliances

Did you know that your electrical appliances still draw small amounts of electricity when they are plugged in at the wall but not being used? By unplugging all of your unused electrical appliances you will save pennies on your energy bills.

Change your Lightbulbs 

By changing your old lightbulbs to LED lightbulbs, which are four times more energy efficient than incandescent bulbs and last longer too, you can save a few bucks on your energy bill each month. LED bulbs are more expensive than incandescent bulbs, but you will save a lot more money, and energy, in the future by using them instead.

Turn off the Lights 

There is no need to have the light on if you are not in the room, so flick the switch and save on your electricity bills. If you live with forgetful people, or have kids, place a note near the door as a helpful reminder.

Cut back on Unnecessary Extras 

There are always unnecessary things that we want, but don’t really need. For example, do you really need caller ID? The Premium cable or satellite package? Unlimited internet? You can cut back on those costs by determining what you can and can’t live without, and make a compromise by downgrading some services instead of cutting them off all together.

These small changes all add up to savings, and you will start to notice the total on your bills start to decrease and the money in your bank increasing within a matter of months. Meaning you will be able to save up faster for that holiday you really need, or be able to put some more cash in to your child’s college fund.

Author bio:

Ibtisaam is a business writer that is driven by company dynamics, CEO insights and creative outputs. Particularly interested in business and property development in the UAE, Ibtisaam is your go-to lady for all your Dubai Property related queries.

 

Category: Back To Basics - FAQsSavingsStudent FinancesTips and Advice

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Article by: Anna Suzdenkova

Employed in the financial sector for over 7 years. Held various roles including financial advisor, auto claims adjuster and manager of customer service. Attained an accounting degree with Honours. Mutual fund licensed. Passionate about helping people. Forever an optimist, positivity is the key to a happy life. Enjoys helping people decipher the banking world and use it to their advantage!