In times of global economic crisis and shrinking employment opportunities, having some extra cash on the side is always welcome. Still, how can you save up without having to compromise on the bare necessities of modern life? Well, if you didn’t pay attention in your economics class or don’t know where to start cutting your bills, we have several tips and tricks on where and how to reduce your monthly costs to your budget’s advantage.
A vicious circle: Give up costly habits
Though you may consider yourself a frugal person, you probably have pet habits that cost you more than you can afford in the long run. For instance, if you’re a smoker, you’re probably losing hundreds to your vice on a monthly basis – thousands even in the course of the year. Similarly, regular beer intake can set you back a lot even with an ample budget, so you’d better find a more satisfying and cost-effective pastime.
Reduce you water and electricity bill: Cut shower time
Enjoying a long hot-water bath at the end of your day is not as budget-friendly as you may think. In fact, keeping your water-heater on 24/7 will add a pretty penny to your electricity bill, while a full tub will up your water consumption to the max with regular use. For optimal water temperature and lower energy bill, turn your thermostat to 120 degrees or less – that should be enough for a quick shower without wasted electricity and cold water-induced goose bumps. Check out some more tips on how to save money on utility bills.
Use ATM cards wisely: Use cash instead of plastic
With the plastic card era at its peak, most people don’t think twice before they whip out their payment card to pay for a grocery bill, especially if they know they have an extra dozen on their bank account. Even if you’re a hardcore ‘shopping list only’ enthusiast, you may be leaking money with your credit card payments. It runs out people are likely to spend more when using payment cards than when paying cash for services and goods because hard money feels more real than plastics, so sticking to cash may be a better option than flashing around your ATM cards at the counter.
Cost-efficient combinations: All-in-one TV packages
Most modern households have a TV, a compute, a landline and several cell phones per family members. That’s all fine and well until you get down to the bill figures: with separate phone bills, internet costs and TV packages, you may as well be burning money. If you want to save up on these modern utilities, try a combined TV and internet package that delivers the same service at lower costs. For instance, you may want to get a Compare Broadband Bundle that merges TV, internet and phone service in one cost-effective package and guarantees all time internet access with your favorite TV show on and your phone open for calls 24/7.
Turn off water when not necessary: A small splash goes a long way
Keeping your tap running while washing teeth or scrubbing the dishes is completely needless and it can also prove costly in the long run. A small splash can go a long way if deployed wisely, so turn off your faucet when you’re not directly using water from it – this will help you save some extra dozen or even hundred on you water bill without jeopardizing your personal and homeware hygiene.
Eliminate phantom power: Switch off unnecessary appliances and devices
Our household devices and gadgets discreetly use up electricity even when not in use. Cords and wires attached to outlets with connected devices on the off or stand-by mode leak energy, and so do the phone charges and similar gadgets which we usually live plugged in through neglect. To counter phantom power, unplug your coffee maker, printer, wall chargers and similar appliances when you’re not using them – you may be surprised by the trimmed down figure on your next electricity bill.
These are just a few simple solutions that could help you save money in the long run, so it’s crucial that you stick to them permanently and not just “once in a while.” Developing money-saving habits takes time much as any other. It might be a little difficult in the beginning but when you reap the rewards you’ll be glad you made them stick.
Guest blog by: John Stone, Editor, Smooth Decorator
WHAT TIPS DO YOU HAVE TO SAVE MONEY? LEAVE A COMMENT: