Homeowners Hacks: cost-conscious individuals cheat sheet
Everyone who runs a household will know that at certain times of the year, there just seems to be more outgoings that incomings and managing the household budget is a real skill. To give you a helping hand when it comes to managing your expenses, here’s our cheat sheet for cost-conscious homeowners to make budgeting a breeze.
- Spend in cash wherever you can – you’ll notice it more and train yourself to be a conscious shopper instead of swiping without thinking.
- Collect coupons and use rewards vouchers from supermarkets to buy things you actually need for a reduced price – but don’t be tempted by those offers for things you won’t use on a regular basis.
- Where you can’t pay in cash, pay by debit rather than credit card. This is especially true when you pay for home heating oil – you can avoid transaction fees if you pay by debit card.
- Budget for food and groceries by dividing your monthly allowance into 4 equal weeks and try not to borrow from the next week. If you have money left over at the end of the month you can use it as a treat for a takeaway!
- Try and plan your lunch in advance so you know exactly what you’re having, and reduce temptation from grabbing a pre-pack sandwich. You’ll pay for the convenience of it, and with a little bit of forward planning you could save yourself up to £15 a week by bringing your own lunch.
- Save on food wastage by separating and freezing items into usable portion sizes when you get home from grocery shopping. For example, freezing slices of bread in smaller portions lets you use them as you need them without wasting a whole loaf, or separating a pack of chicken breasts and freezing them in single portions for you to use as needed is a great way to save on groceries.
- Hate loose change? That may be so, but collecting it in a jar soon adds up. Clear your pockets or purse each day and save the change you won’t spend in a jar and restrict yourself to not touching it until it’s full.
- Saving money on household bills like electricity means you can spend more in other areas, like your home heating oil top up. Make sure you turn off these electrical appliances at the wall, and stop leaving your devices on standby or plugged in charging without reason.
- Save on your heating bill too by turning the thermostat down by just 1o As we’re coming into the warmer weather you probably won’t even notice the difference.
- Plan ahead for everything to get the best deal – need flights? Take advantage of airline offers as soon as they arise. Need home heating oil? Make sure your order before you totally run out so you can pick a delivery date with a minimal charge.
- Start a savings account if you don’t already have one, and speak to a financial adviser about setting up a pension. There’s a lot of focus on this at present from the government to ensure that you are preparing for your future and there’s no time like the present to start saving.