Things that are really just expenses, seem to us like something more. We spend money usually with the hope of some return. We would like to think that the things we do spend money on, gives us something back and that we have made a smart choice. The issue is, most of us make decisions that do the opposite. They turn out to be decisions that cost us money and provide a limited return. For some people, its easy to recognize their bad spending habits and for others it won’t be all that obvious. Don’t worry, we’re going to cover the ways you can cut costs in plain and simple and others that are more creative.
Start tracking your costs
The first thing you need to start doing is to track your costs. This can be frustrating because we tend to spend a little here and there every day. So keeping up with your habits can feel like a chore. But, if you really want to understand your habits then you should track your spending as regularly as clockwork. Much like we have apps we use to log our eating habits when we’re on a diet, you can do the same for spending. Mint and GoogleBudget are both good apps you can utilize to this end.
Now, you may wish to set a threshold i.e. you only track spending that is over a certain level i.e. you track the cost of a sofa, but not a snack at lunch. You don’t need to even write things down, just take a photo of the item and if the app has a scanning feature, scan the receipt you get and it will log the cost. You can also punch in the number of the cost yourself.
Unneeded car costs
In part, our cars pay for themselves. However, sometimes we find that cars cost more than they’re worth. Pretty obviously, we need to look at the cost of the insurance. Some brands won’t give you discounts if you have stayed clear from accidents. They believe their package speaks for itself but surely, you can find better cheap car insurance quotes. All you need is minimum liability insurance before you can move ahead. This will help you to find companies that do value your record and clean history. It can allow you to insure your car for cheaper, moving from plans that may have useless and unneeded add-ons that are put on as part of their package plans.
Move away from conventional energy
One great way to solve the issue of too much spending is to change your conventional energy. Gas and coal power are what most homes use. Even though green energy is becoming more and more popular, it’s still not advertised as well as the conventional energy companies. If you have a gas stove or oven, and you perhaps get your electricity from coal power stations, you should try to move away to green energy that is cheaper. For example, you can use more electric power for your shower. A water heater is far more economical than a gas boiler. It can sometimes be hundreds of dollars cheaper and it requires less maintenance than conventional energy.
Using that empty space
If you have some part of your home that you are not using, why not make some use out of it? If you have a spare room you can advertise it as a lodging, or perhaps a temporary room for those who are traveling or on holiday. Work with Airbnb and other similar companies so you can give your room to those that are willing to pay you a fee to use while they are exploring your city and country. Not to mention, if you are okay with having a lodger you can have a monthly income that can add up to thousands of dollars over the years.
If you also have an empty space outside such as a garage or driveway, you can rent this out to someone local. It may be that there is a local small business owner who wants to park his or her commercial vehicle in a safe place. You can present your driveway in this way, giving security and safety knowing their vehicles will be out of reach from burglars.
Fixing up the home
One of the ways that we tend to lose control of our spending is on the home itself. We think that we have to spend money on fixing up the issues that plague our homes. And we’re right. But, we don’t need to always hire someone to come around and do the work for us. With the amazing power of YouTube, there’s just about any issue you can solve for yourself at home. There are lots of details online about the kind of equipment you may need.
Fixing up the home when something goes wrong is totally within your power. You just need to learn to have confidence and do the right research. For example, you need to use:
Use multiple sources. Not just YouTube, but professional home-fixer websites that may have a business blog with articles that have tips.
Use the comment sections on YouTube videos and blogs to ask questions.
You can try and ask your friends and family for help and support. Send them photos of the issue, i.e. the door handle you’re trying to fit, etc.
Go onto multiple forums and ask questions as well. You will find a lot of people on hardware and home-fixing websites that are willing to help. Once again, take photos and videos of the issue you are dealing with to help people understand how to help you.
These are obvious and some not so obvious ways to cut costs in your daily life. Start by actually tracking your costs so you can see where you are spending far too much. Fix up the home by yourself if it’s possible. And try to move away from fossil fuel energy.