Cutting back on your household budget can be difficult, especially if you have debt or there are a lot of people living in your household. Also, with food and energy prices on the rise it can be hard knowing where to cut corners and most importantly where you can make the best savings. However, if you follow these five tips you can be on your way to finding a bit of extra cash in your pocket each month.
Keep on top of your energy bills
Use a price comparison site which shows you a comprehensive list of all of the current energy tariffs on the market at the moment and suggests the right deal for you. This is one of the easiest ways to save money because you don’t have to do anything other than supply a meter reading. Of course another way to save on energy costs is to reduce your energy consumption as much as possible. Unplug appliances you aren’t using, use ceiling fans for cooling, and use a programmable thermostat.
Use cash back sites
Most popular cash back websites offer users a percentage of what they spend back, which they can then withdraw and use however they wish. If you’re considering changing energy suppliers, entering a phone contract or anything else that requires a big spend and a big commitment some companies offer a nice sum in cash back to buy with them. Be aware, though, it takes a while for the sites to pay out and it may be months before you even get a reasonable amount of cash back that you can withdraw to your account. Every little bit helps though!
Assess your debt
Having a huge credit card bill can be difficult to manage but there are alternatives if you can’t pay it off all in one go. Doing a balance transfer to another credit card with 0% interest rate won’t make your debt go away but it will stop it from getting bigger.
Always Shop Around For Insurance
It pays to shop around and get quotes when renewing your home or auto insurance. A few minutes of your time can result in saving a substantial amount. Don’t cut corners by doing away with insurance altogether either. Even if you rent your property, you should invest in home contents insurance to make sure your belongings are protected.
Do Your Grocery Shopping online
If you really can’t control yourself and simply have to go for all those buy one get one free deals that the supermarkets advertise at the end of every aisle, ordering your groceries online lets you monitor exactly how much money you’re spending and you’re less likely to impulse buy. Not only this, you’ll save money by not using the gas in your car to drive to the supermarket.