How to slash your household expenses and save $$$s

In this day and age, everyday living is an expensive thing. We all know the feeling… no sooner has your paycheck come in then you’re doling out money left right and centre for various bills and expenses: only to find there is barely anything left at the end. So what can you do to help cut down on your everyday expenses and stop them taking over your life?

Many of us waste gas and electricity on a regular basis without really thinking about the impact it will have on our finances at the end of the month. Make sure you always turn light switches and sockets off when you’re not using them, and think about how you heat your home. Things like double glazing for windows and effective insulation might seem like luxuries now, but they are investments that will lead to far lower bills further down the line.

It’s also important to think about how much your household spends on food. On average, families end up throwing away around 25% of the food and drink they purchase – just think of all that money going straight in the bin! You can work to avoid similar wastage in your household by planning out your meals every week. If you work out what you’re going to cook each night of the week and shop accordingly, you can limit the amount of food you throw away and watch the savings pile up. As an added bonus it’s a great way to watch what you eat and stay healthy too!

We also spend a lot of money as households on buying new items, when it’s often very simple to mend and reuse what we already have. It may be difficult to persuade kids to forgo the latest video game consoles or mobile phones, but such items drop dramatically in price even just 6 months after their release. Similarly, childrens’ old games, consoles and DVDs can be traded in at stores against new purchases, so don’t let forgotten toys go to waste! For mums and dads, learning basic DIY and craft skills can save you hundreds of pounds every year, so don’t be afraid to pick up a needle or a hammer and fix things before rushing out to buy a replacement. 

Many households also spend more money than they need to on their phone bills every month. Take some time to think about who you and your family are calling and when, and choose a supplier that suits your habits. These days, it is common to find a better deal with a mobile network than a traditional landline provider. Do you and your family often make calls to other countries? Cheap international phone calls  could be a great way to bring your monthly bills down. 

You may not notice the difference at first, but if you follow these tips for cutting down your household expenses on a regular basis you’ll soon find that the savings are piling up!