Everyone wants to save money around the house, whether it be on household bills or food shopping but not everyone knows where to start. There are many ways to save money in a household and some of these tips are common sense, while others may not be so obvious. Most families know that lavish trips and the latest clothes don’t necessarily make a happy family but prudence will boost your life savings plan.
Here are a few tips on how to save:
• Make a Household Budget - Do a budget to trim the fat, see where your hidden expenses are and examine where your money is going.
• Unplug electronics overnight - Plug your devices into power strips and switch them off at the end of the day. People don’t realize that they are using electricity even when they’re powered off.
• Install low-flow water faucet - by simply replacing your sink faucets with low-flow models, you could cut your water bill by 25% to 60%. If you want to save even more water and money, you can also install low-flow shower heads
• Stop buying bottled water - Bottled water is one of the biggest money sucks out there. If drinking from the tap is too much to bear, invest in a water filter - a simple and cost-effective alternative.
• Buy generic stuff you don’t care about - Go generic whenever possible, this simple shopping habit could save you a lot of money. Areas you may be able to save money on include: toiletries, food, certain clothes, and pet supplies.
• Start a vegetable garden - Your own vegetable garden is a great way to bring some cheap and organic food into the house, this will also keep you busy when you feel bored.
• Plan your meals - One of the greatest downfalls of most families is eating out. By taking the time to plan your family’s meals, you remove the excuse of not knowing what’s for dinner and ending up eating out.
• Invest in reusable items - Disposable goods are usually cheap and super-convenient, but not when you have to buy the same items repeatedly. Your family probably uses a lot of paper products, but why keep spending your cash on them when you can purchase reusable goods instead?
• Strategically shop at sales and clearance sections - Head to the sales and clearance section first, before you even begin your regular shopping to see if you can snag what you are looking for at a discount.
• Contribute monthly to your Savings Account - Make it a point to add a dedicated amount to your savings at the end of each month. Even if it's just a few Nairas, the savings can add up and it will keep you from spending it frivolously.