Things are expensive right now and there are not many signs that they will get cheaper any time soon. Right now you look at your home and whether you like it or not, it is costing you money. Just sitting there, whether you use it or not, it’s costing you money. So, if you are on a mission to cut down on costs and save some money each month, one of the first places to look is your home.
You probably do not have options when it comes to your mortgage as far as saving money. When that is paid off you will really have the ability to start getting ahead and doing some work on the property. For now, there are some small things you can do that will lower your costs.
Lowering Monthly Expenses
Remember that you need to invest time and effort into each of these options but the more you invest, the more you will save, or earn. Your home is an expense, but many of those expenses can be lowered, especially if you focus on a routine.
- Electric: When you leave for work in the morning how many lights, fans, computers and televisions are still on in your house?
- Water: Do you wash your dishes by hand? It’s a great lesson to teach people but it’s also wasteful. Running a dishwasher saves on power and water. That adjustment alone can be enough to save you hundreds a year.
- Storage: Are you paying for a storage space somewhere and you own your own home? Find a way to make room and cut down what’s in the storage bin. Do whatever you need to because that’s hundreds of dollars a month you could be saving.
- Insurance: Take a look at the insurance agreement, especially if you have paid off your mortgage. You may not need coverage for certain things which will allow your bill to go down.
- DIY: Houses need work and a lot of it. You should only do things you are comfortable with and leave major work like plumbing and electrical to skilled and licensed professionals. But if you can paint your own walls and take care of your own swimming pool, look at what you’re saving?
- Streaming: The average person now has at least two streaming services they pay for now that they never use.
- Air conditioner or heater: We kept these separate for a reason. What is the air conditioner set on when you are not home, or the heat in the winter? Are you wasting money trying to keep your house nice and comfy for when you get home?
- Food: If money is tight, start cooking at home. Cooking at home can save you hundreds of dollars a week. If you like meeting up with friends, invite them over for a game night. It will still be cheaper and probably also be a lot more fun.
- Your home can make you money: Renting out a room in your house, or the entire house, has never been easier and is a great way to generate income from the property.
You now have dozens of options that allow you to generate income or lower the cost of living in your property. There will be expenses but you can keep them low by learning how to be more economical, not only with your property, but with your routine as well. These tips may not seem like much, but give it one year and see how many thousands of dollars you save.
