You can reduce your monthly household budget by minimizing many expenses. Some of them allow you to save large amounts of cash while others seem like small savings but they add up over time. From food costs to Box 24 Casino entertainment expenses you can find many ways to cut down on your monthly expenditures.
Save on Transportation Expenses
The best and most effective way to save on transportation expenses is to get rid of your car and use public transportation. That doesn’t work for most people these days – public transportation doesn’t always get to where you want to go and, in many parts of the country, there is no real public transportation.
You can reduce car expenses in a number of ways:
Reduce your Car Payment
You can reduce your car payment by refinancing your loan. When you expend the loan term it can lower your payments (though in the long run you’ll pay more in interest). You should also think about getting a smaller, less expensive car. Some smaller cars are actually more expensive but if you shop wisely you can find a car that is better suited to your budget, both in the car’s total cost and in long-term savings in gas and maintenance.
You can also lower your insurance costs by shopping around. Review the policy to make sure that you get all the discounts for which you quality – home and car discounts, good-driver discounts, discounts for people in specific professions, etc. Also, if your car isn’t very expensive to begin with, you might want to remove collision and comprehensive insurance that will pay if your vehicle is damaged. It could be that you’re paying more for the insurance than the care is worth.
Finally, change your driving style to save on gas. Rapid acceleration is the biggest cause of gas guzzling. Drive moderately and steadily, keep your car tuned, keep the tires full of air and don’t bother with premium gas since experts say that there’s no advantage to buying premium gas.
Save on Utility Bills
Everyone has utility bills – either you’re heating or you’re cooling. And everyone needs water. So is there any way to save on these expenses? For sure!
Update your light bubs by installing CFL or LED light bulbs. CFLs and LEDs are approximately four times more energy efficient than incandescent bulbs. They also last for much longer. Check the bulb’s packaging and check the lumens number to compare bulbs as opposed to the equivalent wattages. Lumens refers to the actual amount of light that the bulb emits.
Replacing a 60-watt bulb with a 14-watt CFL or LED saves about $0.66 per month under normal usage (four hours a day) and average electrical rates ($0.12 per kilowatt hour). Once you multiply that number by all the bulbs in your house you can see how much money you’ll save. Even if you just switch the bulbs in the five most-used lights in your house you’ll save $40 or more on your yearly electric payments.
Save on heating and cooling costs by air sealing your home. Air sealing prevents drafts which causes you to lose cool air in the summer and warm air in the winter.
Ask an electrician to lower the temperature on your hot water heater. The hot water heater is a major energy drain, accounting for approximately 14% of a home’s energy costs. You don’t need to keep the water at a boiling temperature so there’s no need to set the boiler’s heater to the maximum temperature.
Save on Entertainment Expenses
Entertainment expenses are generally the first thing to go when a household is budgeting but it doesn’t have to mean eliminating the entertainment. Just consider how to reduced those expenses.
For one thing, you don’t need a club membership. You probably don’t use it very often and you end up paying for a year’s membership while you use it only a few times a year. Cancel the membership and just pay per visit, or else use a public pool or golf course.
Cancel your cable bill. You can find a number of ways to gain access to your favorite shows via Internet such as streaming services like Amazon Prime, Hulu and Netflix. If you really like the programs that you access through cable, investigate the basic cable costs as opposed to the premium cable subscriptions.
Visit your local library. Remember reading? That’s a relaxing activity that meets all interests. You should also keep an eye on your community’s bulletin board for free and inexpensive concerts and other types of performances.
Cancel subscriptions to newspapers and magazines. Maybe not to your favorite paper or magazine but certainly to those that you always set aside for “later.” If you see that “later” never comes and you aren’t reading those newspapers or magazines, cancel the subscription. You can always find most of these magazines and papers at your local library or online.
Save on Food
Food is one of the biggest expenses in the average American household budget. You can eliminate waste, eat more healthily and save on your food budget easily.
Prepare your own meals at home. If you’re pressed for time, prepare double portions and freeze some of what you’ve prepared. If you have leftovers, use them – either eat them as is or re-cook them. If you take your lunch to work, pack it yourself and eliminate the costs of eating out. Regard restaurants as part of your entertainment budget – something to do periodically as a “night out” and, other than that, use your kitchen. You’ll reduce you salt intake, your sugar intake, your cholesterol intake and your food expenses by increasing your home food consumption.
Buy in bulk whenever feasible. Check out the larger packages of nonperishable items. Even if they’re not the well-known brands they can give you what you need for a fraction of the cost. Things like pastas, legumes, grains, cereals, crackers and other items are much cheaper in bulk purchases.
Use coupon deals. You can find coupons in your daily newspaper and online. If there are multiple coupons for an item that you need, buy it in bulk. Of course, don’t buy items that you don’t need!
When you apply these rules to all the nonperishables in your home, from shampoo and soap to salt and sugar – it adds up to a lot of saved money.