Life is expensive. Food, fuel, household bills, clothes, and social expenses all cost a lot of money. If you are single and you have a great job with a fantastic salary, consider yourself lucky. For the rest of us with kids to raise and a mortgage to pay, life is not always so rosy.
There are lots of ways to cut your monthly expenditure, but if you have a lot of debts in the form of maxed out credit cards and personal loans, one way to reduce your outgoings is to take out a consolidation loan from a company such as www.ukhomeandpersonalloans.co.uk/. This will bring all of your debts under one umbrella and consolidate multiple payments into one lower payment. It is a useful tactic for families with a high debt burden, but it won’t work if you then resort to your former spending habits.
Reduce Energy Bills
Energy bills are expensive, especially during the winter months. There is only so much you can do to cut your energy expenditure (unless you turn everything off and live like a hermit for a few months), but there are savings to be made.
Price check your current energy tariff and make sure you are on the cheapest one. Energy suppliers rarely let their customers know if they can save money on a different plan, so the onus is on you to be proactive. Check at least once a year and move to a new supplier if you can get a better deal elsewhere.
Instead of shopping in the most expensive stores, hunt online for bargains. There are lots of voucher and codes available, so make use of these and reduce your monthly shopping bills. It is also worth signing up for store loyalty cards, as these offer money off deals and extra savings to regular customers.
Make Do and Mend
Don’t always rush out and buy new when something needs replacing. If your washing machine breaks then yes, you will probably need a new one, but if you decide to replace a table or sofa, look online for a second-hand bargain.
Save on Grocery Shopping
Food accounts form a significant portion of most family’s monthly expenditure. We have to eat and so do the kids, so you can’t slash your grocery bill in half very easily. However, you can shop in discount stores and look out for groceries that have been reduced at the end of the day. Supermarkets usually offload all produce that is going out of date that day at a bargain price, but you have to be there at the right time.
Buying out of date food products will save you a lot of money. Look for the ‘best before’ date, as this means the product is OK to use after the expiry date. It might not taste quite as nice, but it won’t kill you.
There are lots of ways to save money each month, but you will need to be disciplined. So give it a go and see how much money you can squirrel away!