Today we face a tough economy and consumers are always looking for the best deals. There are money saving ideas for everyone at any age to use as a way to help them stay within their budget. By taking a few of these ideas and implementing those into your life can help in getting your financial status to improve. Let us start by looking first at the monthly budget and what do you have to pay.
- Rent and/or mortgage along with insurance
- Car payment and insurance
- Utilities (includes: electric, gas, water, sewer and garbage disposal)
- Health insurance (includes: medical, dental and eye care)
Saving Money within a Household
Money saving ideas can be implemented in all topics on the list. The ideas are trouble-free to do and once they are put into action will help save some significant cash. The biggest expense for people is rent or mortgage payments.
- Renters of an apartment or house usually have a one year lease. They can start by comparing prices at other apartments or houses to see if there cheaper apartments around in cost or maybe it is possible to downsize from a two bedroom to a one bedroom.
- People that have a mortgage for a house or condominium can save money too. It is important to have the house appraised and to consider moving if there is a change in the financial situation. Otherwise, take time to call the lender of the mortgage to see if it is possible to refinance. People can take a few minutes online to compare lenders and interest rates to find the lowest rate available. From the time when the interest rates were in the double digits it is still at the lowest but this can change quickly as we all know.
- The other cost with housing is the utilities that we are so used to having access to and do not know what to do when they are gone.
- Many of the utility companies have a budget payment plan for customers and it is usually the average what is spent within the year.
- Regulate the temperature at the thermostat; winter months should be set between 65 and 68 degrees (this is only for people who truly have below 32 degrees for more than three months). Summer months the air conditioner should be set between temperatures 75 to 80 degrees.
- Ceiling fans used can help maintain the room temperatures along dehumidifiers in the summer months and humidifiers in the winter. This helps save money by not having the furnace and air conditioner always kicking on.
- It is wise to invest in curtains that are insulated or known as “blackout” curtains for the windows will save overall around 30%.
- If windows and doors leak air they can be replaced with new usually at a reasonable cost. It is best to check around many window installations offer discounts, no interest for a year and low payments. Another alternative if this is not in your budget is to invest in plastic for windows and sliding glass doors, installation wraps for pipes and winterizing kits at a home improvement store.
- Other money saving ideas are just making sure the television is off, lights are turned off and small appliances that are not used regularly are unplugged.
- Turn the hot water tank down to the half way mark.
- Change those old light bulbs throughout the house to LED bulbs. They use less electric and last longer than the old bulbs.
- Use energy saving appliances
- Maintenance and repair can be done on a barter system by seeing if the contractor will exchange services. Maybe you can do some errands, yard work or office work for them.
- Recycle more of the waste. Many garbage or waste companies offer a recycling program. This includes special recycling programs for electronics, appliances, paints, oil, tires and batteries. It is necessary to call and checks to see what recycles are collected if there is extra cost. The waste company usually offer a monthly payment plan and some if you pay for the year all at once give you an extra discount.
- The next money saving ideas would be needed for is transportation cost. The car payment can be a burden if there are financial problems. Try to sale the car or get a trade in for a newer model that is gas efficient. Also try riding a bike in warmer temperatures. Many of the cities have public transportation that includes bus services. The bus services in most cases have yearly passes for adults, children and senior citizens. The larger cities also have transit train services that also have passes available to purchase for customers that use their service regularly.
- Money saving ideas for groceries is more than cutting or coping off the internet coupons. It is easy to say but harder to do since the mainstream of people are always on the go constantly. In other words, try to stay away from or cut out the fast food restaurants, microwave food and premade food. Although preparing a meal could take an hour it is cheaper and in the long run healthier. This will mean fewer appointments to the doctor’s office which will help save money by not using the car means not wasting the gas and any copayments or coinsurance payments.
- When make a casserole make a double batch and freeze one for another meal next week
- During harvest season can and blanch fresh vegetables for the long winter months
- Make a weekly or if possible a menu
- Make a grocery list stick to it and use coupons when necessary
There are money savings ideas that probably were not mentioned but many of the basics that families and individuals deal with every day.