With the cost of living soaring, there are many things you can do to cut your monthly bills without losing out on life’s little luxuries. Take a look below for some tips and tricks:
Know Your Budget
Every household has a budget and it would help you each month to know your incomings and outgoings. Knowing this will give you more power over your bills and expenditure, not knowing where your money goes can be exceedingly stressful. Try and avoid living off credit, it may seem like a great idea at the start but you soon have to pay it back. Having a general idea of how much you earn and how much you pay out will give you an idea of how much leftover cash you have to play with.
Housing Costs
Is there any way you can cut down on your housing costs? You might be able to downsize if everyone has left home or you inherited a home from your family. You might also be looking for ways to save on your monthly housing bills as well. If this is the case look into ways to make this cheaper, installing solar power for instance. Another way to cut energy bills is to install insulation in your attic space and walls.
Need A Car?
Ask yourself the question, do I need this car? If the answer is not really, or a plain and simple no then get rid of it. This is a huge chunk of money that it costs you each month, not only in fuel but insurance and services as well. If you do find yourself needing a car, opt for a cheaper option, such as a used car. If you use your car for work, are there any other modes of transport that work out cheaper? You might be able to cycle to work for example.
Eating Out
If you and your family eat out or grab take away quite a lot then you would be surprised at how much this can push up your monthly costs. The average takeaway can cost about $30 a go, this mounts up over the year. It can be a chore to come in and cook after a hard day’s work, try batch cooking, and stick it in the freezer for days when you cannot be bothered. You can also look into creating fakeaways with your family. If you love a Chinese takeaway then create the ultimate fried rice at home.
Grocery Shop
Finally, the weekly shop can cost a fortune. Believe it or not, there are ways you can save on this too. You could shop online, only buying the essentials. If you walk around a shop you are more likely to chuck things in your shopping cart that you do not actually need. Things like biscuits, chips, and chocolate are more likely to find their way into your cupboards. Doing it online means you know what you need and will only add these to your basket. Alternatively, find a cheaper place to do your shopping. Shop around for the best offers, or use coupons.
