In the current economic climate, many households are trying to save money. Your home is probably one of your biggest expenses – so it could help to devise a saving strategy for your home.
If you’re counting the pennies, take note of these simple tips:
Energy aware:
To help the environment as well as helping your wallet, it’s time to get energy aware!
Switch to direct debit and paperless billing. Organizations are getting greener and more waste conscious so many will reward you with money off by switching to direct debit or paperless bills. It’s less effort for them too.
Turn your thermostat down. By reducing your thermostat by only 1 degree you could cut your bills by 10%.
Insulating cavity walls reduces heat loss and could save you around $110 a year on your fuel bills. By insulating your house properly, you can save some money while reducing your home’s Co2 emissions (the biggest cause of climate change).
Switch to energy saving light bulbs – better for the environment and your finances.
Insurance:
Home insurance can be costly, but scrimping or going without cover could cost you heavily further down the line. There are ways to make savings and find the right protection at the right price.
Shop around and get a number of different home insurance quotes. Remember to compare home insurance quotes on a like-for-like basis, a very cheap quote may look attractive but it may not offer all the cover options you require.
By increasing the amount you would pay in the event of a claim (the excess) your home insurance premium should reduce.
By investing in extra security, such as a burglar alarm or better quality locks, you could see your premium fall. By boosting security on your home, insurance companies may see your property as less of a risk.
Cut back where you can:
Running a household can be a tough job and can be expensive. Being frugal and making small savings everyday can make an impact.
Stick to the list! Supermarkets are designed to be attractive and make you spend more, so always go shopping armed with your shopping list. Write out what you need before you head out and check your cupboards and fridge to make sure you’re not buying double. If you stick to the list, you should only buy what you really need.
With high gas and diesel prices, driving can be a huge drain on your budget. If possible, try walking or cycling to work. Even if it’s just a few times a week, it can help save money and help keep you fit.
Cable TV can cost a lot per year, but many shows are available to watch for free online and are widely available to buy as box sets. If your TV package is costing you a small fortune, it may be worth experimenting with other viewing options.
So, as you can see there are numerous ways you can cut costs around your home; you just have to look around. Making a few small changes can really add up over the course of year.
How have you been able to cut costs at home? Please share.
Great list. I should add though that having a higher insurance deductible/lower monthly fees could backfire on you if you are the type who has to file lots of claims.
@The Single Saver.You’re right. When you make too many claims your premiums go up. The idea here I was talking about is to not make a lot of claims and save on paying for lower deductible.
We cut costs at home by picking the smallest home we were comfortable in. That’s a big decision but it pays dividends for years. Taxes, insurance, utilities,maintenance all tend to scale with size.
@No debt MBA. Good for you for not getting tempted to bite off too much of a house. It’s hard sometimes to stick to your guns. I am glad to hear you are in a good place financially. We too tried to do the same thing when we bought our house and it is paying off.
I do all those things. I would add that you should turn up your thermostat in the summer! I keep out thermostat at 78 degrees when we are not home. I use a setback thermostat and it goes down to 75 degrees about an hour before we get home. You can save a lot. One more add, cold water wash for the laundry.
@Krant cents. You’re right. Those are great tips. We do both of those as well. In fact since I have been back from Asia our house can be a lot hotter than before- I have aclimatized to hotter temps.
I save a ton by being a careful grocery shopper. The only time I go shop off the list is if there is an unpublicized special and I have a coupon for that item. Otherwise, I buy only what I have written down.
I think I need either an attic fan or more attic insulated, and it is something I really need to look into. (Along with 100 other things for the house.)
@ Everdaytips. We all have our list of home improvements and we can’t do them all at once. Coming up with a plan though is useful. Take it slow and do what you can as you can.
Glad to hear you have a good strategy for shopping. So many people end up throwing a ton of extra stuff in their cart they don’t need and spend more money.
Great list. I should add though that having a higher insurance deductible/lower monthly fees could backfire on you if you are the type who has to file lots of claims.
@The Single Saver.You’re right. When you make too many claims your premiums go up. The idea here I was talking about is to not make a lot of claims and save on paying for lower deductible.
We cut costs at home by picking the smallest home we were comfortable in. That’s a big decision but it pays dividends for years. Taxes, insurance, utilities,maintenance all tend to scale with size.
@No debt MBA. Good for you for not getting tempted to bite off too much of a house. It’s hard sometimes to stick to your guns. I am glad to hear you are in a good place financially. We too tried to do the same thing when we bought our house and it is paying off.
I do all those things. I would add that you should turn up your thermostat in the summer! I keep out thermostat at 78 degrees when we are not home. I use a setback thermostat and it goes down to 75 degrees about an hour before we get home. You can save a lot. One more add, cold water wash for the laundry.
@Krant cents. You’re right. Those are great tips. We do both of those as well. In fact since I have been back from Asia our house can be a lot hotter than before- I have aclimatized to hotter temps.
I save a ton by being a careful grocery shopper. The only time I go shop off the list is if there is an unpublicized special and I have a coupon for that item. Otherwise, I buy only what I have written down.
I think I need either an attic fan or more attic insulated, and it is something I really need to look into. (Along with 100 other things for the house.)
@ Everdaytips. We all have our list of home improvements and we can’t do them all at once. Coming up with a plan though is useful. Take it slow and do what you can as you can.
Glad to hear you have a good strategy for shopping. So many people end up throwing a ton of extra stuff in their cart they don’t need and spend more money.
10 Money Saving Tips for Your Home http://bte.tc/qfhr #RTW
10 Money Saving Tips for Your Home http://bte.tc/qfhr #RTW
10 Money Saving Tips for Your Home http://bte.tc/qfhr #RTW