Saving Money Around The House

compare energy suppliers

by Caleb James on 9 Mar, 2012

Times are tough financially at the moment and whether it’s the cost of necessary repairs; extortionate rent payments or just money-burning kids, there are some outgoings that are simply unavoidable.

There are, however, some parts of your life that you have complete control over and one such example of this is your home. It may seem like your house is haemorrhaging money at an alarming rate but there are a number of ways to combat this.

They say that charity starts at home, well so does saving money, so with this in mind here are our top tips to saving money around the house.

Shop around

This goes for pretty much everything around the house and with a little effort; you’d be amazed at how much you could save. Think about your weekly shop and next time you’re at the supermarket go for cheaper brands, only buy what you need and look out for deals.

Never throw away your leftovers, make good use of them for lunches and snacks. And buy a few cookbooks from charity shop by chefs like Nigella Lawson to find great ways of turning your leftovers into feasts fit for a king!

Next up should be your bills. Compare energy suppliers, insurance companies and broadband/television providers to find out whether you’re getting the best deals. Don’t be afraid to phone these companies and cancel your contract if you are being ripped off, even if your current deal is pretty good, a call saying you are moving to a close rival will often result in money off or extras to help keep your custom.

Budget

You need to sit down and work out all of your incomings and outgoings, then decide what you can cut down on and produce a new, more frugal budget. Stick to this religiously and try and factor in putting away some savings just in case you need something repaired or have any unexpected costs.

It might be hard at first but saving money in this way means that if you do want to treat yourself to a holiday or new purchase, you’ll be in a better position to do so and know exactly where you stand financially.

Recycle

It’s the perfect time to do a spring clean around your home and believe it or not, this can often make you some money! Clear out your wardrobe and anything you don’t wear regularly put on a bidding website such as eBay. Even if you get a couple of quid from an old top you never wear, that’s better than letting it collect dust in your wardrobe! The same goes for the exercise bike in your garage, CDs and DVDs tucked away in boxes and shoes in the bottom of your wardrobe – if you aren’t using them, sell them.

If you think your house needs redecorating or freshening up, don’t just go out and spend a fortune, think about what you can customise on the cheap to make a difference.

Paint old furniture to give it a new lease of life, get out the sewing machine and make some new curtains and if you’re still not happy, try charity furniture shops for some great vintage bargains.

Saving money needn’t be a chore and in fact, haggling, shopping around and keeping your eyes peeled for a bargain can actually be really rewarding. Use your creativity to make the most of what you’ve got and before long you’ll be in a much better position financially as well as emotionally.

Take a look around your home now and see where you can save some money. Who knows, if you save enough, this time next year you could be sunning yourself on a beach somewhere or cruising the streets in your new car!

About the Author

Caleb James


Caleb James is a financial advisor and journalist, who contributes regularly to financial blogs and industry publications.