Is your household budget a bit tighter than you want it to be? Whether you need to trim back on spending to pay off debt or you’re simply looking to free up more money for your vacation fund, adjusting your household budget can yield big benefits. Consider these creative options for saving money.
Take a Look at Your Tires
If you’re trying to trim your spending, you probably have to keep an eye on your gas gauge already. Carpooling, combining errands, and walking when possible will all help you save on fuel costs. However, you can minimize your transportation expenses by looking a little lower, too. Inflating your tires to the recommended PSI will improve your gas mileage. Check your tires monthly to make sure that they have adequate air pressure.
Schedule an IAQ Evaluation
Indoor air quality (IAQ) is hard to see but easy to feel. If you have poor indoor air quality, you may suffer from headaches, respiratory problems, and fatigue. Low IAQ can even reduce your productivity if you work from home or could increase your sick days from work, both of which can cost you money.
Have your HVAC system thoroughly inspected by scheduling an IAQ evaluation with your HVAC service provider. This will help you identify areas for improvement, whether that means sealing your ductwork, changing your filter, or upgrading to a more efficient unit.
App It Up
Often it’s the small changes that make the biggest difference. Everyone’s household budget is different, so a tweak that works wonders for one family might save only pennies for another. Using a budget management app such as Mint can help you evaluate your spending habits and clearly see where there’s room for improvement. Handy pie graphs and bar charts make it easy to pinpoint your biggest areas of spending so that you can better understand where your money goes and find smart ways to keep more of it.
Cut the Cable Cord
Cable service is quickly becoming a luxury that’s not necessary for extensive home entertainment options. You can subscribe to streaming services such as Netflix, Hulu, or Amazon Prime for less than $10 a month. Although all cable plans are created different, it’s not uncommon to find that you can use multiple streaming services for less than your monthly cable bill. If you’re ready to cut that wire, make a call to your cable company and explain the issue. Some providers will offer a dramatically discounted deal to keep you, allowing you to trim your budget a different way.
Turn Down Your Water Heater
Check the temperature on your water heater. If should be somewhere between 125 and 130 degrees. If it’s higher, turning the temperature down can help you trim your energy bill instantly. The hot water heater accounts for around 14 percent of energy use in most homes. You can further reduce your spending in this area by upgrading to a newer appliance or switching to an option such as a tankless water heater.
Taking a closer look at your household habits can yield numerous ways to trim your spending. All that’s left is deciding how to use the excess.