When you’re a homeowner, there are many costs that you need to think about. From buying those essential items, to making sure that your home is being maintained properly, it can seem like there is a never ending list of things that you need to pay out for, and it can quickly make your outgoings pile up to an unmanageable amount. However, there are some ways to cut down on household costs, and you don’t always need to be paying over the odds when you’re a homeowner. Here are 8 ways to save efficiently.
#1: Shop smart
For a lot of us, shopping is a boring task. You don’t want to be going to loads of different stores, trying to find the cheapest products, either. However, you don’t have to spend hours shopping; instead, you just need to be smart about it. Go to a different store each week, and see how the bill compares at each one. If you find a store that offers the same high quality, at a lower price, then you will be saving yourself a lot of cash over the duration of a year, and it will be worth letting those expensive supermarkets go. If you really want to save, then try going a brand down in the products that you’re buying. If they’re still good – and cheaper – then you’re onto a winner.
#2: Make your own cleaning products
Cleaning products are one of the main expenses on anybody’s shopping list, but they don’t need to be. Whilst you still want to keep your home clean, you really don’t need to splash out on these store bought things to be comfortable in your abode. You can make some great cleaning products with things like vinegar, baking soda, and a whole host of other items that you will probably have sitting around in your kitchen. Not only will this save you money, but it will also be beneficial for your health, too. Things like bleach (and lots of other chemicals) could be detrimental to your health, with many studies showing that they worsen things like breathing problems.
#3: Let out a spare room
There are few of us out there that haven’t benefited from things like Airbnb in some way. Instead of splashing out for an extremely expensive hotel, you can now stay in somebody’s home; either having the entire apartment to yourself, or simply inhabiting their spare bedroom for a few days. This is a really great way to save money, but it’s also an extremely good way to make it. If you’ve got a spare room in your home, and you’re in a place that could be pretty desirable to visitors, then why not use it as a way to get some extra cash, from those who are looking for a place to stay for a few days. It won’t affect you too much, and will help to pay towards household costs!
#4: Think about the leasehold vs. freehold trade off
For a lot of us, extra costs come from maintaining the land that our property is on. Whether you’re gardening, or paying off maintenance bills, it can seem like having a freehold property is a pretty expensive job. However, there are some benefits to this, and it gives you the security to be able to do what you want with your land, so you could do some of the jobs yourself. If you want to save, by looking out for the cheapest freehold condo, then you’ll also benefit from being able to change things, and thus add more value onto your home. If you want to save on costs in the short-term, however, then opting for a leasehold property could help you to do so.
#5: Stock up
When you’re out shopping, you sometimes find amazing deals that you just can’t pass up on. Whilst it can be annoying to know that you’re going to have to pay the regular price for these things next week when you’re at the supermarket, you could benefit from stocking up on certain products. Getting a large freezer is ideal if you want to make the most out of the offers out there, and you should also try to make some cupboard space for cosmetics, toiletries, and other products that you may use in the future. This way, you’ll have them there when you need them, and you didn’t have to pay the high costs that you would have usually. Goodbye, high household costs!
#6: Compare providers
Unfortunately, high household costs aren’t just limited to your shopping prices. One of the main costs for any homeowner (or renter) is bills, and we always believe that we can’t save ourselves any money in this area. You need electricity, water, and heating, and how are you going to go without it? However, the tariffs for these things are ever changing, and there may be another company out there who could offer you a lower price on these outgoings. Every few months, it’s a good idea to see whether you could benefit from changing up your providers, and there are plenty of comparison tools online if you want to do this. Don’t just stick with what you’ve got!
#7: Use energy saving appliances
Elsewhere, you could cut down the household costs by using energy saving appliances. In 2019, nobody should be going without energy saving light bulbs, and they could really change up what your electricity bill looks like. Think about little ways to save on things like this; turn the TV off at the plug when you’re done with it, and dry your clothes outside, rather than in a tumble dryer. Not only will this allow you to save some cash when you need to – and you’ll see the impact of this over time – but it also means that you will be able to do your bit to use less energy. There are also plenty of ways to monitor your energy consumption, which could help you to save greatly!
#8: Budget well
Budgeting is something that few of us really want to face. Nobody wants to sit there with a pile of receipts each month, trying to work out where they’re going wrong with money managing. However, you don’t need to do this, as there are plenty of apps out there that could help you to take control over your spending. Once you’ve got a better overview of where you’re spending too much, you can work at changing that part of your lifestyle, in order to improve your household outgoings. Sometimes, we feel like we’re spending a lot of cash, but we don’t really know where it’s all going. Being able to see the bigger picture is key to making sure that it all gets sorted.
If you want to cut down on your household costs, then there are some easy ways to do so. Whilst it seems like you’re taking on a losing battle, there are always opportunities to save on your outgoings, even if it means that you have to rent out one of your rooms on Airbnb. However, doing little things, like making your own cleaning products and switching to energy saving appliances, could really help you to lessen those significant costs that you incur over the course of a year.
Who knows, you could have enough cash remaining to take yourself on that vacation that you’ve always wanted to go on, or maybe you could treat yourself to something else with your savings! You can thank us later…