The current economic situation isn’t easy and the cost of living is putting a strain on most people’s budget these days. It is a good idea to look through your expenses and see if there are ways to cut down your spending and perhaps be able to start saving some money as well. Here are some tips that can help you save money.
Switch Appliances Off Or Lower Power
You can make a lot of savings around the house if you switch off some appliances when not in use or turn them down a little bit. For instance, Energy Saving Trust estimates that turning your thermostat down even by one degree could end up saving you around £65 every single year on your heating bill.
That is just counting the money saved from the heating bill. When you switch off other appliances you can save hundreds of pounds every year without really doing anything or lowering your quality of life.
Making sure you switch off your lights when you leave a room can end up saving you almost £20 a year as well.
You should also switch to energy and water saving appliances because these will increase your savings even more. Opting for low flow shower heads for instance can help you save almost 20% of your water utility bill and thus can really make it worthwhile to make the initial investment.
Shop Only Once A Week And Stick To The List
You might think that going to the shop just once will make your shopping bill huge but in the long run you will end up saving a lot of money. If you, for instance, carefully plan your whole week’s menu every Saturday and go shop for it on Sunday you can guarantee that you only get the things you need and will be more cautious in getting all the needed items.
If you go to the shop every two days you are much more likely to overspend and get items that you don’t even need and won’t have time to use anyway.
Thus by carefully making a shopping list beforehand and then sticking to it you can guarantee that you will actually use all the items that you have bought and you won’t end up buying non essential items during the week. Buying items in bulk will often be cheaper anyway than buying just a bit at a time.
Check Out Your Contracts
It is also a really good idea to make sure you aren’t paying too much for your energy, water or even insurance. Sometimes it is easier to just stick to your old providers and hope you are getting a good deal but often the prices might keep rising without you not even realising.
It is a good idea to browse websites that compare different providers together and then contact your own company to ask if they are willing to provide you with a better deal or should you just change the provider. Check out companies directly as well, since companies like XYZ Insurance and BT Broadband don’t always have their best deals on price comparison sites.
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David wants to help people make good financial decisions and ensure they are saving money to guarantee them with a secure financial situation. He also loves to spend time with his two dogs and is passionate about cricket.