How to Spend Less on Household Expenses This Year
At this time of year, many people around the world are currently wondering how they’re going to pay off their credit card bill after an expensive Christmas and holiday season. Perhaps you’re in the same boat, and are looking for the right balance transfer to save some money on interest charges as a result.
While this is a great tactic for right now, when it comes to spending less throughout the year, a good way to cut back is by looking at those regular, reoccurring costs that come up within your household all the time, like groceries, utilities, and transport.
If you’re keen to spend less on your monthly household budget throughout the year, it pays to know exactly where you can save, or cut costs completely. Read on for some easy tips you can follow today to help achieve your financial goals for 2016.
Spend Less on Groceries
One of the household expenses that really adds up very quickly each month is groceries. Happily though, there are ways you can go about buying your goods for a cheaper price. For starters, a simple way to spend less of your budget at the supermarket is to write a shopping list before you go there, to ensure you don’t buy any extras that aren’t listed. If you feel that you might be too tempted by all the tasty-looking items in the aisles, then consider online shopping instead.
In addition, it can definitely pay to buy home-brand goods as much as possible. If you haven’t tried this technique in the past, give it a go and you’ll surely be surprised by just how tasty/effective the products can be, whether food items, cleaning goods, toiletries or other essentials. Home-brand products cost much less than the goods produced by well-known brands, and can help you save significant amounts of cash over a year.
Another way to cut costs is to take advantage of sales and discount coupons. Whenever products you use often but that don’t have a short shelf life (like shampoo, coffee, cleaning supplies, toothpaste and diapers) are on sale, stock up. As well, it can be worthwhile signing up to the newsletters and/or social media sites of your local grocery stores so that you are notified when new specials are on or when discount vouchers become available.
Lastly, it can also work in your favor to purchase food items in bulk and then cook and freeze meals. Oftentimes you’ll be able to snap up large quantities of a food stuff at a bargain rate, and can whip up multiple meals over a weekend that can be stored and kept ready for nights when you don’t feel like cooking. This strategy also helps you to avoid spending money on expensive takeaways.
Cut Back Transportation Costs
Another costly household expense is transportation, especially vehicles, which you have to pay to keep registered, maintained, serviced, insured, and fueled. To save some money in this area, consider looking at your average week to see if you can find times to walk, cycle, or take public transport rather than drive. This will help you reduce your spending on fuel, as well as result in less wear and tear on your vehicle.
If you have children who need to be dropped off to school, or picked up each day, it’s worthwhile speaking to other parents to see if you can arrange a carpooling schedule. This has the benefit of not only saving you gas and running costs, but also giving you some more free time during school terms.
It might even be possible to get rid of your car entirely. If you analyze your usage and realize that your vehicle sits in the garage most days, it might pay to sell it and use the funds for more needed costs. There are many car-share companies available these days who you can hire a vehicle from on the odd day or even few hours throughout the year that you require a set of wheels. These services are much more affordable than paying for the continual upkeep on and fuel for your own car.
Combine Bills
Services such as telecommunications, power, insurance, and banking are other areas where many families have to spend quite a bit of money during the year. A great way to reduce your bills from these suppliers is to combine services.
Rather than having a separate provider for each bill (such as home, contents, car, health, and life insurance; or your home phone, broadband, and cellphone), see if you can choose to have a variety of services bundled up with the one company.
You’ll find that many firms are keen to get as much of your business as possible, or to win you over to their organization in the first place, and as a result will offer significant savings if you choose them. These discounts can add up to quite impressive savings over 12 months, and also give you less bills and suppliers to have to deal with.
Sally Wilsey says
Really good suggestions. I am always looking to ways to cut my budget.
Rachel says
Thank you for the tips! Always looking to save money!
Natalie says
I have already been doing most of the suggestions to save money on groceries!
Sarah L says
I always shop with a list (groceries and anything else). I also make sure I eat before going grocery shopping.
Another cost savings: Use your local library for books and CDs and videos – all for FREE!
Sarah L says
Do you really need cable TV? I haven’t had it in several years and don’t miss it.
Melissa S says
Groceries are definitely a budget killer here. I have started baking more and we can and freeze a lot from our garden. I am just getting into serious couponing but it is time consuming and sometimes confusing.
Sue Mullaney says
These are all great ideas; I know one thing I like to do is make sure I have something to eat right before I go to the grocery store so I won’t be tempted to buy things just because I’m hungry. Thanks for posting!
Michelle Elizondo says
I always want to save money.
denise smith says
we are always trying to save whereever we can
Kelly says
Great tips. I am horrible with groceries. Because I know I have to buy them, I am all in and buy anything I want. I am really good with bills and such, always looking to save some dollars, but I need to pay way more attention to groceries.
Katherine says
These are very useful tips. I been thinking about the bulk buying and wondered if it really did help in the long run. Money is tight and I need to cut corners wherever I can.
Rachel says
Thanks again for the tips!
Diana Corlett says
Lots of great ideas here…now to put them into practice!
Jeanna Massman says
Thanks for the ideas. We can all use some tips on how to save money each month!
Jennifer Boehme says
I have done all but working on the bills. I have been doing things to lower bills, and it is working alright.
sherry butcher says
Thanks for the good ideas here. I try to save on food too by using coupons and sales together. Thanks for sharing.
violet taylor says
the service bundle ideas really work, but be careful not to get sucked into services you can do without under the guise of “Saving”… if you dont need a land line, getting one for $10 off “Regular parice” is not really a savings.
Renee Rousseau says
I found lots of useful tips in this article that I could easily institute into our budget. I am still struggling with “do I need cable” because I love their high speed internet.
Tiffany S says
Love these ideas. I spent WAY too much on Christmas last year and am still paying for it! Not gonna do it this year!
Tara Gauthier says
These are some great tips! I take public transit each day back and forth to work as it’s just not worth it to drive with the cost of extra insurance, parking, etc.
bettc says
good post i do most of this stuff written here and it does help a lot specially the home good brands .
Rachel says
We just cut out cable and will save $100 a month!
michelle combs says
thanks for the great info
Sarah L says
For me a good tip is to just stay out of stores. No window shopping.
Renee Rousseau says
The Grocery saving ideas are creative and helpful. The bundling idea on bills scares me because it is so often just a bait to get you locked in while you watch the bills climb every month. I would rather be non committal and ready for the next deal available.
Sarah Kurtz says
Great ideas. We ride public transportation and walk alot. City living is easier that way.
Barb Y says
We buy so many groceries so thank you for that reminder! I’m always looking for budget tips!
Toni says
Loved the article, always looking for ways to costs. I do try to use coupons and buy in bulk when things are on sale.
Amber Ludwig says
Ugh groceries are totally our downfall!! We spend so so much on them!! Its awful!! Ive been trying to coupon as much as I can!!
Agnes Dela Cruz says
Tips can be useful to Mommies like us. Grocery shopping can takes a toll out of your budget we need to be more practical.
Olusanya Godson says
This helped me a lot. Thanks always
Sarah L says
I liked a post I saw today:
From your Bank account: You have food at home!
Shirley Wood says
We have recently cut back by finally taking advantage of a package deal from our cable provider. We also had our landline turned off because we never used it. The only time it ever rang was when a robo call selling something called.
Magdalena says
Well written article, with lots of tips, which I will be bookmarking for future reference. Thank you.
krystel says
This is a very great post and very useful especially how financially useful this is
Teni SinLa says
Nice to read this post. I agreed with you. I also manage my money to spend on groceries and then to minimize another bill…. thanks for sharing!
clojo9372 says
These are great tips! With the economy the way it’s been in recent years, I try to find ways to spend less and keep costs as low as possible. Thank you!
Sue Mullaney says
These are very helpful suggestions. I do have my cable/Internet/phone service all under 1 company as a bundle package which does save me money. Thanks for posting!
gloria patterson says
As a senior on a very tight budget I am always looking to ways to cut my budget. Thanks for the great ideas and suggestions
Amy Green says
One thing that has helped my family and I, enormously, to keep costs down, has been the Internet. By combining good deals with discount codes, apps and exclusive coupons, we have been able to do a better job of spending wisely.
Patricia Mingozzi says
Great suggestions. We cut back on transportation costs by carpooling to school and work.
RT says
Going meatless one day per week is a great way to cut out costs.
RT says
Great ideas. We are trying to cut cable…it seems so high for just TV. It’s a scam, lol.
Sarah L says
Shop at thrift stores.
Margaret Vasut says
Thanks for the tips! I am always looking for new ways to save money. Every dollar counts!
Sue M. says
These are all helpful tips; I know I save money by having my cable, phone and Internet services from one provider.
Michele says
So many great tips to think about and see if they can be implemented into your lifestyle.. I can definitely do more walking to save on gas and I can also buy more store brands then name brands… I think that right now all of us can do some economizing…
Rosie says
These are good ideas! One thing I noticed is that groceries and household items tend to be more expensive online, although sometimes for convenience I do use that option.
Linda L. says
I use coupons combined with sales and also buy in bulk but I didn’t think about bundling services for a discount, thanks!
Erica Ardali says
I have seriously looking into ways to save money and get our budget under control. Living paycheck to paycheck is really not my idea of living. I want to find new ways of trimming the fat in my household spending in order to put some sort of emergency fund together.
Sarah L says
Save big: Don’t have kids.
Lisa Ogle says
Thank you for all the useful tips.
Dotty J Boucher says
I love your ideas and suggestions here , I know for myself I started to take the bus or walk, and also use coupons..
@tisonlyme143
Judy Metcalf says
I’m always looking for way to save money on household expenses. Thanks
Kristen Schwarz says
This is a great post. I am a stay at home mom in a single income household. So I am always looking for ways to save. This is a great read.
Saundra McKenzie says
Thanks so much for these awesome ideas. I will try to use some of this advise.
MINERVA LEBRON says
I BUY ALMOST EVERYTHING ONLINE AND I SAVE A LOT OF MONEY USING COUPONS, CODES, APPS, ETC.
sheila ressel says
With the holidays coming up I can sure use tips like these to help me save money!
Jeanna Massman says
Thanks for the great ideas! I plan to try some of them.
Saundra McKenzie says
These are really good ideas. I use some of them already.
marina says
I will be using these tips, thanks for posting!
Mary Songer says
Good tips. I’m trying to save everywhere I can on my monthly bills. We just bundled our phone/internet/tv and saved a ton.
Sue Mullaney says
I do have my cable, Internet and phone all packaged in with one company to save money. This list is very helpful; tanks for posting!