Slash Household Spending with Five Money Savers You Already Have

Face it, everyone is looking to save money these days and a great place to start stashing some cash is at home. However, many people think that they already maximize their savings when it comes to their homestead, but are you looking everywhere around you? I too was on a similar quest and by taking a close look around, I was able to discover some easy ways to cut household spending using items I already owned.

Here are five things that you too already have in your home that are money savers just waiting to happen:

The Television

You might look at your television as an expense, I know when I get my cable bill, I sure do. But your television can help you to keep some of the money that you would normally spend if you will only let it. Instead of heading off to the movies with your family, you can rent a movie and let the savings roll.

For example, if a family of four goes to the movies you are looking at about $10 per ticket plus another $20, give or take, at the concession stand. All said, you are dropping $60. Now, that same family can rent a movie for as little as $0.99 plus tax from places like Red Box and buy microwave popcorn and soda and candy from the store all for around $10.

The end result is a savings of about $50. You'll never look at your television the same will you?

The Toilet

Here is a neat little trick I learned some time back. Get an empty gallon sized milk container and fill it with sand. Flush the toilet and when the tank is filling up with water put the empty jug in the back of the toilet tank and close it up. This will fool the toilet into thinking it is filled when it really isn't as the jug will take up some of the volume. The end result can save you hundreds of gallons of water per year. If you pay for water like I do, that means a savings of a couple hundred bucks every year.

The Stove and Oven

Want to really cut your household spending, cook at home. That's right, use that stove top and oven to make some really good tasting foods. Using the example of the family of four, they could go out to dinner at a fast food restaurant and still have to spend at least $40 assuming they could eat for about $10 per person. That same family that might be eating fast food burgers and fries can eat steak and asparagus at those prices and still have money left over for themselves.

The Light Fixtures

According to GoGreeninYourHome.com, every single compact fluorescent light bulb that you use to replace an incandescent bulb in your home will save you $28.23 per year. That means that every single light fixture that you have in your home is a money saving device that simply needs to be put to good use. This is a trick that I implemented in my home and the savings are very clear when you compare this year's power bill to the previous year.

The Coffee Maker

When I was a financial advisor I used to love it when people would say to me, "I just can't seem to cut my household spending," while they held a large coffee from Dunkin Donuts or Starbucks in their hand. I used to then tell them to look in their hand. Let's break this down.

A large coffee from Dunkin Donuts or Starbucks is between $3.00 and $4.00. So we'll split the difference and say $3.50 if you don't tip. So, $3.50 times seven days a week equals $24.50. This is of course if you only have one cup of coffee per day.

Instead, use your coffee maker to make the most gourmet coffee that the store has to offer, including Dunkin Donuts and Starbucks, and cut that cost by at least half. The end result, if you only saved half, would be an extra $12.25 per week or $637.00 per year. Mr. Coffee is Mr. Money Saver isn't he?

Household savings are everywhere and you need only take some time to look before you see all the possibilities. Start with these five ideas, but see what else you can come up with on your own. Instead of letting your house dictate the money you spend, use it and everything in it to its fullest money saving potential and decide today that you will call the shots when it comes to household spending.

Source: Go Green in Your Home, CFL Light Bulbs Save on Electricity | Go Green in Your Home, GoGreeninYourHome.com

More from this contributor:

Smoking and Drinking Coffee Can Make You Go Broke

Three Tips to Help You Save Money for Retirement Right Now

How to Make Your Credit Cards Pay You