Everyone wants to cut back on household expenses and these tips are perfect for seriously cutting your household expenses in half. Some are easy to accomplish while others may be drastic measures that only a few families can manage. All will help to cut back on the money you are spending each month to maintain your home.
7 Ways To Cut Household Expenses In Half
Downsize as much as possible.
While this may seem obvious, many families overlook the bigger ways to downsize as they feel they are impossible. Things like moving to a smaller and less expensive home, selling the second family vehicle or simply purging items from your home that are no longer needed can easily create more money in the budget. Limiting extra curricular activities can also be a great way to cut household expenses with ease. This can mean limiting the number of teams your kids play on, your own gym memberships or even your weekly nights out with friends. You don’t have to eliminate everything, but you can downsize your activities to a more manageable amount.
Start couponing regularly.
Simply Frugal brings you tons of coupon deals on a regular basis, and using these to save money on everything from food to household supplies can greatly cut back your household expenses. Just make sure to not get carried away and spend more than normal just because you have a coupon for something. Utilize coupons for the best deals on products you would already normally be purchasing.
Cut out extra expenses.
Check your household budget for things you are spending money on that can be prevented. This can be eating out, new clothing splurges or even special channels on satellite or cable television. There are a lot of little purchases made each month that add up fast. You may also consider spending time calling insurance companies, policies and banks to try and eliminate any unnecessary monthly fees. Check your credit cards and pay off or transfer balances on those that have higher interest rates so you save a little more money each month on expenses.
Make your own household products.
One easy way to cut household expenses is to begin making your own products to use around the house. Homemade laundry detergent, fabric softener, stain remover or even homemade body scrubs and lotions can all be made for less than branded products, and you will like the fact that they contain fewer chemicals.
Monitor utility expenses and cut back when possible.
Usually next to mortgage/rent and food, utility expenses are the highest monthly bill. You can monitor these regularly and cut back by conserving water, adjusting your thermostat or even investing in solar panels or better energy efficient utility systems.
Grow your own food.
A garden is a great way to save money on your grocery budget, but can also be a wonderful way to cut household expenses by providing not only for the current food you need, but year round. Can or freeze fresh fruits and vegetables you grow to use throughout the off seasons. In urban areas you may also consider raising chickens to provide your family with eggs and chicken to eat later in their lives.
Have one spouse become a stay at home parent.
This is a drastic choice, but it can easily lead to household expenses being less. If you are paying a lot each month in childcare expenses, take out or even someone to come clean your home, then it may be even more financially beneficial for one parent to stay home with the kids instead. The savings on daycare will be huge, but you can also save by being able to menu plan, keep the household running smoothly and perhaps doing some work at home projects.
These ways to cut back on household expenses are just a few of the many ways you can work on your budget. Reducing expenses is the number one way, which is obvious. How to do that can be difficult depending on your individual situation. Think outside the box and your household expenses can be cut in half.