Tips on Effective Savings from Household Expenses

Prices of commodities are sky rocketing and you would be shocked by the amount of money that you waste every day. In other words, if you tabulate your monthly household expenses, it is certain that it will take up the topmost position of your overall expenses.

We often pay for household utilities that we don’t use. In addition, wasted water, gas, electricity only increases the list of expenses. If you have any intentions to save on your household expenses then it is time that you put an end to all this waste and try saving some money.

Drive sensibly and economically – Try saving on gas by not over-speeding and hitting on the breaks too often. Form a carpool, if you and your friends live close by and are working in the same office or are   located in the same building. This will save you at least $1,500 given the current price of fuel.

Using bundles (combination of television, telephones and the Internet) – By buying bundled packages, you not only get the convenience of paying one bill but also a reduction in costs. This should help you save about $2,000 a year.

Do you have the habit of eating out at least twice a week?  By eating out only once a month can save you about $2,000 annually. Similarly, avoid wastage of food while eating at home. Cook the required quantity of food and serve nutritious whole meals that are cheaper. Go in for takeaways rather than having your food delivered. Buy your groceries from the market and off-brand grocery stores. You can eat on a low budget, still have a full belly, and also save about $300 annually on your groceries.

Save money on water - Avoid buying bottled water, but instead buy a good water filter and boil the water after filtering. Many claim that it is safer to drink filtered boiled water than bottled mineral water. This way you not only support the green movement by reducing the amount of PET and plastic bottles that are thrown away as waste every day, but you also tend to save about $500 annually.

Stock those coupons and get into a habit of using them - This will generate a huge amount of savings in the long run. Over a year, you can easily rake up a savings of about $500. It is difficult to calculate its saving on a short term basis as you got to be disciplined with your purchases and organized as well.

Save money on electricity -  Remember to switch off the lights and other unwanted electric equipment (such as lamps, DVD’s, TV’s, Stereos, Computers, Game Consoles, Battery and Phone Chargers, Air Conditioners, Room Heaters, Air Coolers, Ceiling Fans, Water Heaters, Microwaves… the list is endless) when you leave a room. Although they may cost a bit more, replace your existing bulbs with compact fluorescent lamps (CFL). Also, buy only energy efficient household electrical appliances and devices. If you are a bit careful, you can save up to $500 annually on your electricity bills

Get your basic beauty treatments, such as hair coloring, conditioning, manicures, pedicures, and waxing at home. It is good to be pampered and have it done at a good saloon but if your priority is savings then focus on necessity rather than luxury.

Try cheap entertainment for a change. Invite some friends over and rent a movie or some video games rather than visiting a mall or movies where you would invariably spend quite a bit. A game night or weekend at different friend’s places will save you at least $200 annually.

Save money on insurance – Compare prices from different companies and go for one common that suits all your needs. You should make considerable savings on this.

I am sure that these tips can help you cut down on your household expenses. You will be surprised at the amount you would be able to save. Happy savings!