In today’s economic climate consumers are increasingly aware of the money they spend. However, when it comes to saving money, it is important to think about WHAT you are saving money on, instead of just the overall savings. Most people immediately turn to cutting out the luxuries in life as a way to cut down on unnecessary spending. And while this is viable plan, it can oftentimes lead to failure. Why you ask? Because we all need to spoil ourselves sometimes. That family vacation, night out to the theatre or day at the spa might not seem like a necessity, but when it comes to maintaining sound mental and emotional health- it’s important to treat ourselves to these little luxuries in moderation.
So while you should be practical in all areas of your spending, why not save on the boring stuff, so that you can justify the fun stuff?
Below are a few of my favortie tried and true tips for saving money in your household. Try a few of these out for a few weeks and keep track of how much money you are saving. Then, use what you saved to treat you and/or your family to a special something. It may require a little more time and elbow grease, but it’s worth it!
Consolidate Cleaning Products: Whoever does the shopping in your house can probably testify- cleaning products definitely add a hefty sum to your weekly/monthly spending. I recently looked under my kitchen sink at my arsenal of cleaning products and realized how many job-specific products I have. Kitchen counter top spray, bathroom cleaner, products for the floor, windows, tile, grout…you name it, it was there. A cheaper, just-as-effective alternative? Plain old white vinegar. Mix it with water (and maybe just a drop of dish soap) to create a great cleaning solution for your floors, windows and other non-porous surfaces. Need something with more disinfecting power? Use bleach and water. Even the most expensive vinegar and bleach products out there cost about 1/4 of the price per ounce as compared to leading cleaning products.
Do a bill audit: Every 3-4 months do a thorough review of every bill you pay on a monthly basis and see where you might be able to save additional money. For example, do you watch all the channels your cable package offers or can you down grade your plan to save $5-$10/month? Or, are there home and auto insurance discounts that you may qualify for but are not taking advantage of? Spend some time reviewing your bills and see where you can cut a few dollars back each month. Over the span of a few years it really adds up.
Cut down on household paper products: While there are certain paper products we can’t do without (toilet paper!) it’s actually very easy to get by on limited paper towels and napkins. How you ask? Switch to cloth and rags. One old bath towel can be cut down nicely into individual hand rags that can be used almost anywhere a paper towel can be. Cloth napkins can usually be used a few times before just being thrown in the washer and dryer. Not only can you save a nice sum of cash but you’re also helping out the environment.
Conservative Couponing: Clipping and using coupons for purchases you would have made anyway is one of the easiest ways to trim down that grocery store spend. Find a grocery store that doubles manufacturers coupons and you’ll do even better. The key to smart couponing is not to let the “deal” drive your purchase decision. Meaning, don’ t buy 20 bottles of club soda if no one in your home will drink it just because you saved 50%. Otherwise you’ve just spent money you didn’t need to.
Make a menu schedule: Do you ever find yourself throwing out meat and produce that went bad in the fridge before you got the chance to prepare it? This happens a lot and can be easily avoided. Make a flexible menu for the week that you and your family can stick to. Create a grocery shopping list based on this menu and stick to the list. This will keep you from buying extra things that you don’t need and that can spoil.
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