Save money at home using these 5 subtle lifestyle changes

Read Time:6 Minute
Viewed: 96
Save money at home using these 5 subtle lifestyle changes

Every one should find ways to free up more cash and save money at home. The state of your household finances is a key pointer to how likely you are to realize financial independence. And security.

When your home budget is tight and funds low, or when deciding to save more, you realize you could do much better. That you don’t actually need certain things. So why not cut such wants off your budget right now? These 5 changes include a combination of higher saving and other austerity measures to make your home financially lean as possible.

The following five ways to free up more cash in your homestead will come in handy when trying to save money at home:

How to save money at home

Finding creative ways to free up cash and save money at home is a necessity. Whether you need to get out of debt, start an emergency savings account, or you just want to treat yourself with a little shopping spree, there are some simple ways to free up cash. I’ve compiled a list of suggestions, that I think you might find pretty easy.

Tip 1: Adjust power consumption

Surely you have power ‘leakages’ at home you cannot account for, don’t you? And there are habits that increase your power consumption which you could do without. Stop them today.

One of the most crucial household bills, aside from the obvious necessities, is the energy bill;in this case your electricity consumption.

Instead of eating out for lunch Monday through Friday, you can save some cash by bringing lunch to work.

The cost of running your electronics, kitchen appliances, and other routine activities such as heating and lighting usually add up. And there are other luxury power usages you could do without.

To reduce the amount you spend, run a hypothetical situation where you need to really cut your expenditure on power, and only go with the necessity uses.

SEE ALSO:  5 easy tips to help chase down your financial stability dreams

Tip 2: Purge your belongings

Admit it, there are things in your house you don’t use at all. Or need. In fact, some such things don’t really make your life any better.

Whether it’s that nice dress (or shirt) which no longer fits. Or the furniture you put away after acquiring a new set. Or a bloated cupboard. Do you really need them today? If not, move them on.

Imagine having to receive money for whatever you don’t use at this moment. Now think about what you’ll use said money for. Then do it.


save money at home
Check your home routines to find ways of saving more

This doesn’t have to only apply to your wardrobe, you can also check around the house to find anything you’re no longer using. Once you’ve gathered everything, go sell them.

Thanks to the internet, you don’t even have to break a sweat to find willing buyers: just use the online markets or buy/sell social media pages/ groups to get paid.

Tip 3: Reconsider your TV subscription package

How much do you spend on your TV package in a year? Work this amount out, and if you are happy to keep paying it, without even the slightest of a gut feeling, then skip to Tip #4 below.

Otherwise, find ways to cut that bill down. The obvious choice is to go with more free-to-air packages and programs.

The good thing is that there are so many different alternatives that you can watch your favorite television shows and movies in a more affordable way. As long as you have the internet you can stream shows and movies through your mobile devices.

Many streaming subscriptions are less expensive compared to premium TV subscriptions. You also get the benefit of mobility, allowing you to be entertained at home or on the go.

SEE ALSO:  How past investment mistakes help you survive future storms

Alongside your TV subscriptions, always compare prices before choosing your internet subscription service.

Tip 4: Bring own lunch to work

How much do you spend on your lunch each week? Month? Year? Do you think you could save a portion of that with one or two changes? The truth is you can. As so long you don’t bring your own lunch to work.

Instead of eating out for lunch Monday through Friday, you can save some cash by bringing lunch to work.

save money at home
Get a domestic saving plan that works for you.

If you spend an average of KES 250 a day on lunch, you incur a KES 1,000 lunch expense for every 5-day week. That’s KES 4,000 a month. Pause for a second here and think of the things you can do with this much money. And then work out how much that translates to in a year.

The alternative? Bringing own lunch to work!

And this shouldn’t necessarily be a drab affair. Get creative with your lunch so you don’t get bored with it. Bring leftovers from your dinner, or find quick and easy lunch recipes online, or anywhere else you can.

Tip 5: Reduce phone-related costs

If you were to use KES 20 on airtime every day, you would spend KES 600 on airtime for that one month. That is KES 7,200 in a year on a cell phone alone. And that does not account for internet charges you’ll incur along the way.

The point is that everything adds up, no matter how small. Can you cut back on how much airtime you consume in a month?

Another monthly bill that can add up quickly is the cell phone bill. In many cases, we add things to our plan that we don’t necessarily need. And the best example? Skiza tunes. At KES 1 a day, that is KES 365 each year that you could save up for something else.

SEE ALSO:  The 1 reason why unit trusts are better than savings accounts

If you use home Wi-Fi, for example, is your plan optimal for your home internet needs? What is the point of having an unlimited data plan if nobody is at home half the time to use it? Also, the majority of public places now have Wi-Fi installed, and you could look to use such data instead of a home plan.

Another way to cut back your expenditure on phone internet is through the daily internet subscriptions. Can you even tell how much data you paid for but didn’t use in the past week alone?

Reducing the data plan can save you a few hundred shillings each month. Also, why not buy data when needed and reduce wasting money on unused internet data? You could keep using the free WhatsApp and Facebook for Android to use!

The bottom line

There are numerous opportunities for you to free up cash and save at home more than you presently do. This article highlighted a handful you could try without touching your unallocated money.

It’s also clear we don’t always realize how much we waste on non-essential stuff. However, we can evaluate our lifestyles, household budgets and any other facet of our lives to find more opportunities to save. You just have to want it bad enough.

Try creating a one-month fund for all your savings and see how much you recoup. Let me know in comments or social media how big your fund got by month’s end.

0 0

Leave a Reply

Your email address will not be published. Required fields are marked *