Saving Money Around the Home Everyday

The largest part of your income goes into your home. Be it a rental or a house that we own it is by far our largest monthly expense. Cutting back on your mortgage or rent is not always an option but it can be done in some cases. If you are a renter you might be able to negotiate with your landlord to reduce your rent in exchange for work or bartering an item that you want to sell. Refinancing your home to lower the monthly payment or shorten the loan is an option for homeowners. In the long run, paying off your mortgage would be the biggest savings you can do.

The next huge monthly bill that has a big impact on monthly expenses is utilities. Just lowering the thermostat to 64° during the day and 59° at night will do wonders for your energy bill. If you live in a cold climate where freezing pipes are a constant problem, don't lower you thermostat to under 55°. The pipes in the walls need to be kept from freezing and 55° on the inside of your home combined with the freezing outside temperatures will help keep your water pipes from breaking.

Insurance is next on the list of items you can cut back on. Your car insurance should be looked at first. Do you really need full coverage on a 15 year old car? Probably not. Liability is all that you would need. Take a good hard look at your auto insurance and see if you can cut back on the coverage. Next look at your other insurance expenses. Can you save by having a higher deductible on your health insurance?

Take a look at your checking or credit card statements, are there any monthly deductions for memberships in clubs or dues taken out for websites you no longer are interested in? Cancel them pronto. Even a $9.95 monthly membership for access to a website can add up to $119.40 a year.

Do you have internet, phone and cable or satellite TV? Would it cost you less to bundle or not? Be careful about bundle offers. Some are great deals and others end up costing you more in the long run. If you find one that works out great then go for it. Even saving $10 a month will save you $120 per year.

Always keep in mind that even a $5 or $10 savings each month will add up over time. Never look down on an offer to save even $10 a month over what you are paying now because it could, over time, pay off your house or save up for your child's college tuition.