The pesky thing about home expenses is that they are always there. When you reduce one expense (fewer bottles of soda) another expense very quickly pops up to replace it (that funny noise from the hood of your car turns into a full blown racket now you have to put the AC on). So what to do? Here are 10 tips that will enable you to have just one more thing you can do to keep a little more change in your pocket.
- Food waste: A trip to Costco might not be the smartest way to stock up on strawberries or croissants. Especially if you’re not having a party anytime soon. Volume discounts on perishable foods only make sense when there is an event (party, BBQ etc) and not for family consumption. But if your family consists of more than 10 people then it might make sense…
- Power Costs: Get an HVAC inspection done in your home. You can find energy auditors or HVAC inspectors who can help assess how much energy your equipment might be consuming due to inefficient operation. Or you can just save by comparing electricity prices in the states where the option exists. Our website www.Power2Switch.com is your go to location for this in Illinois.
- Magazine Subscriptions: Most magazines are moving to online subscriptions now. A good idea might be to cancel the print subscription on most of the magazines you are subscribed to. There is a two-fold benefit to this: Less paper (and less trees being cut down) and reduced expenses for you ($14/year on 6 subscriptions is $84)
- Equipment sharing: Community based sharing is becoming a huge trend. This Fast Company article explores the move away from hyperconsumption as evidenced by the growth of several companies that enable shared usage of baby clothes (ThredUp) and car sharing (City Carshare). Amongst other things. A local company, OhSoWe (www.ohsowe.com) is at the forefront of bringing community sharing to all things sharable around the home (lawn mowers, drills etc). Sign on and start to build a village/sharing with your neighbors again.
- Restaurant trips: if you go out for dinner at least once a week and spend $12 for the meal (even with a discount coupon you’d still spend this much if you include tips) then you would have spent a whopping $624 on meals. And that’s even if you’re into Extreme Couponing.
So that’s five quick ways to reduce your home expenses (waste less food, reduce your power costs, cut magazine subscriptions, share equipment with neighbors and take fewer restaurant trips) and have money to spend for those things you actually want.
Any other suggestions?
- For ThredUP, Success Lies Outside the Early Adopters (gigaom.com)
- The Sharing Economy (fastcompany.com)
- Cost Saving Techniques in Business (thinkup.waldenu.edu)