Home Ownership

Everyday Money-Saving Tips

I was reading “40 Money Tips from Experts” over at the Online Trading Academy and decided to come up with some tips of my own.

With uncertainties continuing to surround the global economy, cost-savings tips in the home are very important for any cost-conscious home owner. Thankfully, it doesn’t take a genius to embrace some of the simplest but most useful money-saving measures in the home. If you want a short list that can help cut your expenses, here are a few recommendations that are guaranteed to trim your monthly expenditure.

  • In the summer, set your home air conditioning two about 24 degrees centigrade. Studies have shown that 24 degrees is the optimum setting that allows for a comfortable feeling without eating into your electric bill. Most homeowners set their air conditioning to 20 to 22 degrees, so the extra 2 to 4 degrees can help you save a considerable amount at the end of the month. 
  • In the winter, set your home heater to 20 degrees centigrade. The opposite is true in winter when you relying on your heater. The higher is the temperature setting, the more power you consume. 20 to 22 degrees in the winter is sufficient to feel comfortably without burning a hole in your pocket. 
  • Unplug appliances when not in use. The stand-by power of most appliances may be low but appliances still consume electricity when plugged. To save on electricity, unplug your TVs, computers, turn off the light, and all other kitchen appliances except for the refrigerator. 
  • Do your household chores in bunches. For example, iron your clothes in one go and not per piece. Wash your dishes in the dishwasher together, and not after every one eats. Studies have shown that doing all household chores that require electric power in bunches can help minimize energy usage by as much as 30% compared to when you iron clothes or wash dishes one by one. 
  • Create a budget and stick with it. One of the most useful money-saving tips is to actually create a budget so you are guided with your monthly spending. Write down what is essential and trim down everything else so you know you can meet your monthly spending goals without sacrificing the important items needed in the home.

Money-saving need not be difficult if you know where to start. See if you can implement two or more of these recommendations and check how much you are saving per month. Once you see the difference, you will be even more motivated to cut your spending further. 

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