Managing money isn’t easy, particularly when you are on a budget. With bills to pay and families to provide for it can result in stress and worry. There are changes you can make that can help alleviate your concerns. Here are 10 ways to keep your bills and spending to a minimum.
Don’t auto-renew insurances
Granted it is probably far quicker to stick with the provider you already use in terms of car or home insurances. They send a renewal notice and you don’t need to do a thing. This, however, is more than likely a bad decision. If you want to be sure you are getting the best deal, shop around. You could save hundreds just by taking half an hour to do some research.
Establish if you can get a better mortgage deal
There are a host of mortgage products available depending on your financial circumstances. If you already have a mortgage, you may be able to get more competitive repayment rates by switching lenders and/or products. Go online and check what options may be available to you. You could save thousands over the lifetime of your mortgage.
Plan for birthdays and Christmas in advance
Whilst birthdays and Christmas are an exciting time for children, they can be very stressful for many parents. It’s a financial burden that many could do without. Try and put a little aside each month so the financial impact is split over a longer period. Many people, regardless of whether they have a tight budget, are buying second-hand items. You can effectively get the same products for a fraction of the price. It’s better for the environment too! In terms of buying for adults, suggest that instead of buying for everyone, you do a secret Santa instead. Set a budget limit and buy for one person instead of several.
Reduce your supermarket spend
Meal planning is a great way to reduce your food bills. It will not only save you money, it will save you time and create less food waste. Batch cooking is another great idea. Make batches of your favourite meals and freeze into portions. Great for those days when you can’t be bothered cooking or are in a hurry. Shopping online can prove cost saving too. It decreases the chance of putting items in your trolley that you don’t need. Many supermarkets now do click and collect so if you don’t want to pay for a delivery you can collect instead.
Reduce your energy bills
Energy costs can mount up, particularly in winter. Reduce these by switching off lights in unoccupied rooms. Make sure TVs, washing machines, microwaves, etc are switched off when not being used. Thermal lined curtains will keep heat in and hot water bottles in bed are always a welcomed addition. A smart meter will allow you to track where you use the most energy. This could save you hundreds in the long run and is something that the whole family can get involved with.
9 comments
Savings are becoming especially important these days. In America already has a high unemployment rate. Companies after quarantine conduct analysis of their business.
Oh right. Reducing energy bills can make a big difference.
Here’s something else you can do to reduce your energy consumption and slash on utility bills: https://polestarplumbing.com/news-media/saving-money-and-the-environment.
If you want to reduce your energy bills, remember that poorly-maintained and failed air conditioners can consume 30% more energy than smoothly running units. Fortunately, the system always says if anything is wrong. Here are the common signs of AC problems you should be aware of: https://servicetoday247.com/cape-coral/air-conditioning/ac-repair-maintenance/.
Also, consider installing a smart thermostat. Probably the biggest benefit of a smart thermostat is that it can help save you money on utility bills. Depending on the type of smart thermostat you choose, you could save anywhere from 12-23% on your heating and cooling costs. And here are 4 features to look for in a smart thermostat: https://www.edelmaninc.com/4-features-to-look-for-in-a-smart-thermostat/.
Since heating costs take up most of your energy bills, improving your HVAC system efficiency can have an especially good effect. The key to an efficient heating system is regular maintenance. Here’s everything you may want to know about this: https://www.gervaismechanical.com/34013-2/.
@ Edelman:
A smart thermostat is actually a great thing. But be wary as turning the thermostat down too low could result in frozen pipes. Pipes will usually freeze when the temperature is 20 degrees Fahrenheit outside of the building that contains the pipes.
Can I join the discussion and add one more thing?
Such a thing as keeping the temperature at home steady can also help you lower your energy bills. While adjusting the temperature can be very beneficial, completely turning off the heat when you leave or lowering it more than 5-8 degrees lower at night can cause your unit to work harder to try and warm the place back up.
So pick a nice steady range instead. A programmable thermostat can help you do that.
Proper insulation is also important when you want to save on energy costs. You can have energy-efficient appliances like high-efficient heating, ventilation, and air conditioning systems, but the effectiveness and efficiency of these systems may be highly compromised without proper insulation. Insufficient insulation can cause your HVAC system to work harder and thus generate higher energy bills.
You made some very good suggestions for reducing energy consumption. But here’s one more thing that can affect your home’s energy efficiency — your front door.
If your front door is old or low-quality, consider replacing it with a more energy-efficient option, like a steel door. If you live in an area with extreme temperatures in summer and winter, consider thermally broken steel doors, which use two layers of steel separated by insulation to reduce thermal conductivity, keeping your home at the perfect temperature year-round.