Tips for Reducing Household Expenses

No one has an immunity against inflation. With the rate the cost of living is going up and the uncertainty of holding on to one’s job, it is very important to reduce expenses to keep one afloat. For the majority of families, the big bulk of their expenses go to maintaining their household. There are fixed and semi-fixed expenses that you really can’t do away with but can somehow manage.

Buying a House

If you’re not yet a homeowner and is considering buying a house, a practical consideration would be to prepare a comparative expense profile of your possible choices. First in the list would be the mortgage payment as this is something that would be in your list of expenses for a very long time. If you can, try to get a smaller loan so you can do away with mortgage insurance. Location would determine real estate taxes and the general cost of living. If you’re considering buying in an exclusive suburb, be prepared in shelling out serious money in keeping that lifestyle. Exclusivity and its attendant perks are good but they come at a price. Consider also if the location is prone to flooding, earthquake and other natural calamities as this would seriously affect the insurance of your property. Commuting to work is a recurring expense. When buying a property, consider its proximity to your place of work as this would determine your commuting expenses and the time you would spend in the commute. Other areas worth looking into are ventilation, heating, electricity and water expenses. These all affect each other and can be managed beforehand with enough foresight.

Existing Homeowners

If you already own a home there are still ways you can cut your expenses. Here are some practical tips.

  • Check the weather forecast.  If rain is expected, turn off the automatic sprinkler.
  • Make your own household cleaning solution. Aside from being more economical, it is earth-friendly. An example would be using baking soda in cleaning kitchen tiles.
  • Save on gas by carpooling to work. When going on an errand, plan trips carefully so you would target more errands on a single trip.
  • Buy in bulk. Use the coupons that you find in the newspaper. For products that you regularly buy, the manufacturer may have printable coupons from their website.
  • Take advantage of free samples. Most manufacturers send free samples. Try them out to see if you will like them. They may come as less-expensive replacement of the items you regularly purchase.
  • Reuse old items. Before throwing out a ratty towel, consider cutting them up into cleaning rags.
  • Cut down your electricity cost by line drying your clothes instead of using the dryer.
  • If you have a yard, plant your own vegetables and herbs. It will save you from buying them from the store.
  • Replace incandescent lights with fluorescent bulbs. 

Staying afloat during financially-trying times is challenging to most of us. It is therefore practical and wise to think of ways we can manage these tough times.




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