Did you overindulge over the festive period? If so, you are probably already thinking about detoxing throughout January. But it’s not only excessive food and drink that many people try to cut down on during the new year. A lot of families across the country will also be trying to think of ways to reduce their household spending as well. Especially if you think pushed the boat out for Christmas! You may need to tighten your purse strings if you are still trying to pay off your celebrations!
Reducing your household expenditure isn’t easy, but it isn’t completely impossible either. You just need to make sure you budget correctly and stick to it! Feel like you could do with a few tips to help you save all that cash? Here is my ultimate guide to saving money in 2017!
Make A Budget
You need to take a look at your current financial situation to see how much money you can realistically save. The best way to do this is to create a budget. Firstly, take a look at your regular outgoings each month. These will include rent or mortgage repayments, utility bills, and grocery bills. You should also include your monthly incomings for each month. This will be you and your partner’s incomes. These figures should help you figure out how much you will have left over at the end of the month to save.
Look For Vouchers
There are lots of ways you can save money on your weekly grocery shop. When you are in the shop, you should look out for deals on the products. These are usually buy one get one free or two for one. However, there is an even better way you can save money on your groceries. And that is by using vouchers and coupons for more discounts and deals. The best way to get your hands on these discount vouchers and coupons is to regularly shop at a supermarket. Most supermarkets offer vouchers to their loyal customers. You will be handed them along with your receipt when you pay. You should also sign up for the supermarket’s newsletter as many stores send out exclusive vouchers to their subscribers.
Change Your Heating
When was the last time you compared your current heating plan to the ones offered by other companies? If you haven’t reassessed your heating payments since you had the current system installed, it could be time to take a look at them again. Companies are continually changing their price plans to try and attract new customers from their rivals. You might find that you can get your heating supplied a lot cheaper by a different supplier. You might also find it a lot cheaper to change your type of heating system altogether, such as converting oil heating to gas.
Cut The Recurring Expenses
Do you have any idea how many direct debits you have leaving your bank account on a monthly basis? If you have completely lost track of all these recurring payments, you need to get them all in check right now. You could still be paying for a service that you don’t really use anymore! If you find a payment for a service that you never really use, you should seriously consider cancelling it. After all, you could do with saving that money rather than using it to pay for something that you aren’t too bothered about. These types of recurring payments include subscriptions to the likes of Netflix, Sky TV, and magazines.
Reduce Insurance Costs
IT could also be possible for you to cut down on your insurance costs. No matter the type of insurance cover you have, whether pet, home, or life, it is always worth calling your broker to see if there is anything they can do. Normally, threatening to switch to a different insurance provider can often lead to them offering you a considerable discount. If your policy comes with an excess, you should think about increasing this. Generally speaking, the higher the excess, the lower your monthly payments will be. However, do not put the excess too high. Otherwise, you may not be able to afford it when you are eligible for a payout.
Getting on top of all your household expenditure will help you to save quite a bit of money. And you won’t even feel like you are tightening the purse strings too much at all! Take a look through all the points I’ve mentioned in this blog and think about putting them into practice. You will certainly notice the benefits straight away!