Reduce Everyday Household Expenses
Eliminating Unnecessary Spending at Home
Whether setting up a home budget or trying to quickly achieve a savings goal, it is possible to save money at home by simply changing spending habits.
Most household budgets would benefit from reducing expenses. By planning ahead and making good choices, it is possible to eliminate unnecessary spending, leaving more money available to reach savings goals and/or reduce outstanding debts such as loans or credit cards.
Use Less to Save Money
- Water from kids’ baths can go into the washing machine or onto the garden. .
- Take shorter showers. Keep a timer in the bathroom to provide a warning beep when the time limit is up. Place a bucket in the bottom of the shower and use the water in the washing machine or on the garden.
- Wait until there is a full load of clothes before putting on a load of washing. Some washing machines will adjust the water level according to the size of the load, which helps to cut down on wasting water.
- Use the clothesline to dry clothes rather than a clothes dryer. For wet days, a clotheshorse or line inside a patio area or garage can be used to dry most clothes.
- Use energy saver light globes, which use significantly less power than standard globes and are now available in a wide range of sizes and styles to suit most light fittings. They are not suitable for dimmer switch lights or touch lamps.
- Borrow books, magazines and DVDs from the library. Items that they don’t have can often be requested.
- Some towns have toy libraries where children’s toys and puzzles can be borrowed.
- Extend time between hairdresser appointments. Increasing visits from every 6 to every 7 weeks will result in one less visit each year.
- Place a rubber band around top of soap dispenser pump shaft to reduce the amount of soap dispensed with each pump, particularly useful in bathrooms used by small children.
Share Costs with Friends
- A group of friends who wear clothes in the same size can reduce costs by borrowing from each other, particularly for special occasions. This also applies to accessories such as bags, scarves and costume jewellery.
- Bulk ingredients are generally cheaper per unit. Baking or cooking in bulk can be a good way of reducing grocery expenses. If freezer space is limited, it is still possible to take advantage of bulk purchase discounts. Get together with 3 or 4 friends and each cook one dish (sufficient to share one family serve with each person). This is suitable for savoury dishes (soups, casseroles, lasagne) and also some biscuit/cookies and cake recipes.
- Shop for groceries with a friend, buying bulk amounts of items that can be easily shared (rice, pasta, flour, cereal, etc). Some wholesale suppliers allow purchases by members of the general public.
- If an interest or hobby is shared by friends, it is possible to divide costs for equipment. For example, two families that go camping can have all the supplies between them for a successful trip. If the families camp together, they have everything necessary. If they camp at different times, they can borrow what they do not have from each other.
- Books, toys and games can all be shared or given away once they are no longer needed.
- Declutter closets and pass on second-hand clothing. This is particularly useful for 'dressy' children's clothing items that don’t always get a lot of wear.
Shop Wisely
- Comparison shop, particularly for major purchases. Consider grouping larger item purchases to increase the discount.
- Do the research – know what questions to ask and compare prices online before going into stores.
- Carry a small calculator when grocery shopping to compare prices of products that come in different sizes. Cheaper products are often stacked on shelves above or below eye level.
The copyright of the article Reduce Everyday Household Expenses in Personal Budgeting/Finance is owned by Susan Whelan. Permission to republish Reduce Everyday Household Expenses in print or online must be granted by the author in writing.
