Money worries are one of the most common causes of stress. Most of us would like to have more disposable income, but balancing the books can be challenging when running a household. If you’re looking to tip the balance in your favor, this guide contains advice to help you run your home more cost-effectively.
Flex your DIY skills
Most of us have found ourselves in a situation where we’ve spent money, usually at short notice, to enlist the services of experts to carry out repairs. From leaking refrigerators and washing machines that aren’t spinning to toilets that won’t flush, repairing appliances can be costly. If you have problems in the future, consider undertaking the repairs yourself. There will be jobs that you can’t do, but it’s worth giving it a go if it’s a relatively simple task. If you’ve got a broken component, for example, you can buy brand name fridge parts online and follow video tutorials and guides to help you replace the part. You can also attempt basic plumbing issues and undertake simple DIY tasks like hanging shelves and painting walls. It’s important to call in the experts if the job is complex or it carries risks. You shouldn’t try and tackle electrical issues, for example.
Budget, budget, budget
Creating a budget is a brilliant way to take control of spending and cut out unnecessary expenses. Many of us spend money without realizing where it’s going. With direct debits, tap to pay and app payments, it’s so easy to lose track of spending. Use your budget to calculate how much disposable income you have and to audit spending. Look at your statements and highlight areas where you could save. Are you spending too much at the grocery store, or are you paying for a membership or subscriptions you’d forgotten about? Once you’ve taken action to eliminate payments, set a spending limit. Instead of wandering around the supermarket and throwing every item you fancy in the cart, write a list, add up as you go and avoid offers that aren’t relevant to the products on your list.
Shop around and compare prices
Did you know that you can save a fortune from the comfort of your couch? Thanks to the Internet, it’s possible to compare prices on everything from home and auto insurance and pet food to children’s clothing, electrical appliances and broadband. Use comparison sites and search engines to compare prices before you buy and to find the best deals on insurance policies and utilities. If you have policies that are due for renewal, look at the quote and then search online. You may find that other providers offer a lot more for a lower premium. If you’re happy with your insurance company, contact them and see if they will match the price. You can also do this with your TV, broadband and cell phone provider.
Running a household is never cheap, but there are ways to make your money stretch further and reduce expenses. Take these tips on board to start saving today.
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