Saving On Household Expenses

Saving On Household Expenses – Saving on expenses for your household in four easy steps.

These four steps are planning, evaluating, eliminating and smarter shopping.

Planning – Learn to plan. If you collect grocery coupons, try to plan your shopping around them. Stick to the grocery list and don’t buy anything else.

Evaluating – Are you paying too much on my mortgage? Are you over insured? Did you go a little overboard with your entertainment expenses?

Find out what you’re paying in insurance premiums. Most companies are making serious money with lower deductibles and higher coverage. Try to rework it if you can, then take the extra money and put it in your savings account.

Eliminating – When my cell phone bill got ridiculously expensive, I changed my plan and cut down on my calls. When Netflix decided to issue a 60 percent rate hike during a recession, I waved goodbye to it and said hello to Redbox. You should review your expenses every quarter and eliminate what you can.

Shopping smarter – Shopping online for household items and toiletries is actually cheaper and comes with literally triple the money back, even in comparison to using coupons. There are also cash-back websites that allow you to buy all of your cleaners, hygiene and personal beauty products through an online rebates portal. For example, you can earn 2 to 12 percent cash back or an extra 5 percent from merchants like Drugstore.com.