Many people and households are faced with the challenge of reducing house expenditures. This is a major problem in personal finance and the only way of overcoming it is to learn simple but important ways of lowering expenditure in the house. However, it is not always as easy as it may sound. The best way to start off is by writing down all your house expenditures and finding out what you can do without, change or reduce. The tips below are a few of the simple, practical and effectives ways you can use to lower expenditure in the house.
Top tips for lowering house expenses
Reduce electricity bills
Electricity bills are among the highest house expenses. You can lower them by turning off lights when people are not in the room, capitalizing on day lighting, unplugging unused appliances, running major electrical appliances during off-peak periods, drying laundry on clothes line, using a fan instead of air conditioning, using gas appliances instead of electric appliances, replacing light fixtures with energy-efficient ones, and buying appliances that are more energy efficient. You can also compare prices among electricity providers and choose the one that offers the lowest rates.
Reduce transportation costs
You might be spending a lot of money on car fuel, maintenance, insurance and parking, which are skyrocketing your home expenses. You can reduce these expenses by using public transportation, carpooling, cycling or walking to and from work, shopping, school, etc. If you are in a major city, use services such as Uber and ZipCar as they are pocket friendly and more convenient. You can also sell your car if you are not using it regularly, and if you must own a car then keep it properly maintained at all times.
Reduce food costs
A lot of money also goes to food. You can reduce food expenses by cooking your meals at home and in bulk. Freeze and pack some of the food for lunch. Always us coupons when shopping for food and always purchase nonperishable items, eliminate or reduce takeaway food or eating in restaurants, start a home garden to grow vegetables, purchase generic products, avoid those pricey drinks, and always check the fridge and cupboards before you go shopping for groceries so that you buy only what is required.
Review your internet and phone bills
If you have a landline, just drop it and go mobile. Check your phone and internet usage and shop around for the most suitable and cost effective package and plan. There are several carriers offering discounts. You can also combine your internet, cable TV and phone service so as to get better discounts.