This is a time when all of us are thinking of ways to reduce our expenses and put aside something for a ‘sunnier’ day. However, living on a budget doesn’t mean you need to forgo all of life’s luxuries or sell of all the furniture in your house! Instead, with a few simple changes, you’ll find that you can cut a lot of unnecessary purchases from your household expenses.
So, straight from the home experts at IKEA, here are a few tips to cut down your spending….
Set a budget
Just by setting budgets for each type of expense, you can stop yourself overspending.
Use a big whiteboard or pinboard and make a list of everything you spend on, such as Groceries, Utilities, Entertainment, etc. Then, set a budget for each.
You may not get it right the first time but try it out for a couple of month. Then, adjust and try to stick to that budget.
One of the best ways to save is to stop ordering out, and cook your food at home. Initially, it may be hard. But soon, you’ll realise how much money you’re saving by cooking at home.
What’s more, IKEA has a wide range of utensils and cooking tools which are quite affordable, so once you equip yourself, it’ll be a breeze.
Plan your groceries
Before you go grocery shopping, list out everything you need, including vegetables, household items, etc.
Then, when shopping, stick to your list. Avoid impulse buys.
Check all the faucets in your house for water leakage; this will help reduce your water bill.
Don’t use the AC unless absolutely necessary. Similarly, turn off all lights when not in use. This will help you save on your electricity expenses.
You can also keep checking for upcoming promos or offers on TV/internet packages, which can also help you save money.
Check out loyalty coupons and discounts before you go shopping.
Another trick you can use when shopping online is to store in your basket. If you’re tempted by something, add it to your basket. Then give yourself 24 hours to decide if you actually need to buy it.
Finally, record all expenses
This may sound tedious, but it is only by noting down every single expense that you realise how much you actually spend, and on what.
This will also help budget more accurately for the next month, thus completing the cycle.
With these simple tips, you’ll be amazed at how much you can save!