Everyone is looking to scrimp and save wherever they can but sometimes it can be hard to know exactly how to do that effectively. Many different living costs unfortunately take the fun out of buying the things we want and with the cost of living rising, maybe it’s time to learn some of the best ways to save if you’re overspending your wage.
Here are some of the main household expenditures and what you can do to keep the costs down consistently.
Rent prices are rising rapidly which is taking a large sum of people’s monthly payslip and whilst this is something we can’t avoid, there are several other areas of housing costs that can be reduced to help with your spending.
Regular household bills like gas and electricity are an example of this and while we do need them for survival, we can cut the costs by implementing some practices of our own. These include turning lights off when we leave a room, keeping the central heating on for only a couple of hours a day and closing doors around the house to keep the heat trapped in. These small methods will cut your costs and free up funds for other activities.
A basic necessity but one that can result in frivolous spending if you aren’t sensible with your budgeting.
Cut costs by doing weekly/fortnightly shops at supermarkets to get the best deals on your food. Cook at home and reduce the amount you eat out and finally, freeze food that is going out of date. This method will reduce the amount of food waste which in turn, will decrease the amount of money you have to spend replacing the food you’ve thrown out.
The average annual transportation cost per UK household is £4820 which is a huge sum for most families and whilst transport is needed to get to work or school, there are still ways to bring this cost right down.
One easy way to do this if you own a car is to avoid driving when walking is a viable option. Need to nip to the local shop? Go for a walk and save on fuel costs. For people that get public transport, save money by getting weekly, monthly or annual tickets which cut the cost of your transport.
Once the serious stuff has been paid for, you can spend your money on whatever you want to enjoy yourself. However, to get the most out of your recreational purchases you can use employee benefits for added offers and bigger discounts. For example, the NHS offers discounts for all staff members which can provide discounts on fashion, entertainment and vacations. Check if your employer offers you a benefits scheme like this and start saving today.