Home is where the heart is and where we spend a lot of time raising our family and enjoying life.
It can also be one of the most expensive places to be. Between mortgage payments, groceries, utilities and entertainment the costs of running a household add up. Sometimes they add up to be too much.
Are your household expenses costing you too much?
When it comes time for your weekly or monthly budget meeting and all the bills are presented do they equal more than the income coming in. If they do it is time to cut back.
Cutting back on your household expenses is also a good saving strategy. If you were to cut back on your household expenses would it be easier to pay down your debt or to save money?
Cutting back on your household expenses and living more frugally might be the right answer.
Did you know you can live very well on less? In fact you can live great and be happy and satisfied and still come in on budget. If you had the option to save money by choosing a cheaper brand of soap or pizza would you do it? What if you had the opportunity to save hundreds by cutting back on what you were buying? You can save large amounts of money by making smarter money choices, more frugal choices.
10 Of The Best Ways To Cut Your Household Expenses:
1. Start a household plan
Getting your house in order with a budget and organization plan is a great way to cut costs. Setting up a budgeting plan and telling your money where to go and making it work for you is an amazing way to save money. Knowing where your money is and where it is going allows you to cut costs and save money. Organizing your home allows you to know where your stuff is and how much you actually have. Clearing the clutter allows you more room and it is a great way to make money.
2. Set up a grocery budget
Grocery budgets allow you to know exactly how much money you have to spend on food and goods. Setting up a grocery budget allots that amount to nothing else but groceries so you know your family will be fed. Are you running a high grocery budget and looking to decrease your food costs? Invest in the Grocery Budget Workshop and learn how to decrease your grocery costs by almost half.
3. Start meal planning
I love meal planning. Meal planning saves my budget and my sanity to be honest. Living in a busy household of boys food I swear is their top priority. Setting up a meal plan and knowing what I am cooking for dinner, knowing what I have on hand for lunches and breakfast is a game changer. I use to wing it and cook what I had or we would order out. And the ordering out or the eating out helped rack up the bills. Setting up a great meal plan helped me cut household expenses and save money.
4. Shop used and DIY
Shopping used, bartering and do it yourself projects can save you a huge amount of money. Do you have a local thrift store? Next time you have a minute check it out and see what you can find in children’s clothes, kitchen supplies and more. The costs at the thrift store are half or below half what you would pay retail. How much do you spend on home repairs or gifts? What if you could DIY your gifts this year how much would you save? What if you could learn how to fix that leaky faucet or how to paint the garage roof? Would DIY home repairs save you money? Learning how to do it yourself, shop thrift or used can save you huge amounts of money.
5. Downsize and cut back
A major savings on home expenses is cutting back in the size of the home and the rental or mortgage payments. Can you downsize? Would it save you money in the long run? Could you cut back on the space you need or part of your overall expenses?
What about entertainment and holiday expenses could you come up with a plan to cut back and save money? Staycations are a great way to save funds or opt to go camping instead of hopping on a plane. Could you plan a no spend weekend to save on entertainment?
6. Spend nothing
I am sure you have heard of them, they are quite popular after the Christmas holiday period or after summer holidays. What I am talking about is no spend months or weeks. Periods of time that people do exactly that they spend nothing. No extras, no shopping, no ordering online. Generally, you will have a set amount you can spend on perishables and bills but all other money is saved with purpose.
7. Cut it and cancel it
If you cut the cable and the phone bill how much would you save? What other bills or expenses are you only kinda using that you could cancel. Do you really need that magazine subscription or the 20 apps on your phone that are charging you monthly fees?
8. Stop keeping up
Are you shopping and buying and going over budget to keep up with the latest trends? Are you trying to keep up with your neighbors or the Joneses? Stop trying, generally the grass is not greener on the other side. Infact most of the time the grass isn’t even paid for it’s on loan.
9. Delay the gratification
Are you a want it need it now person? If you aren’t I am sure you know someone who is, we all do. People who must have all the latest gizmos and gadgets and the new trends generally are spending over their budget. Delay the gratification, save up the CASH for what you want to buy. Once you have the funds purchase the item and enjoy.
10. Communication and teamwork
The best for last communication and teamwork. If you are trying to save money and cut your home expenses be honest and communicate your goals with your family including your children. If everyone is aware of the plan and the reason why they will welcome the cut backs in determination to achieve the goal. Teamwork and communication are a great thing when you are facing obstacles including personal finance.
The best ways to save money and cut costs on your home expenses include…
Setting up a household plan, knowing what money is coming and what money is going out. Shopping with a grocery budget, cutting coupons and shopping sales. Meal planning and knowing what you have on hand can help you save large amounts of money. Have you thought about cutting back, or shopping used or having a no spend month? What about cutting the cable or stopping services you don’t use? Stop trying to keep up with the Joneses, save up the cash and pay for it in full. Communicate and work as a team. You can cut your household expenses and live the life you have always wanted to live.
Have an amazing day,
Saving & Simplicity