In today’s economy, some find it very difficult to deal with their day to day household expenses, especially when considering they have bigger issues to deal with such as paying off a mortgage and other forms of debt. From high priorities such as paying electricity bills and buying groceries to trivial things like paying for television and internet subscriptions, the cost of living seems to go up every day.
With this in mind, one would have to consider whether it is possible to reduce the costs related to their home or not. So let’s take a look at solutions that could do just that.
Reducing Electricity Costs
In 2013, South Africa’s energy regulator, Eskom, increased electricity tariffsby8% for 2013 to 2018. What this means is that households will be paying an additional R0.65/kwh for the next five years. This may seem like a very small amount of money, but when you consider the number of people you live with and the appliances they use, things become very pricey.
Apart from switching off appliances, the geyser and swimming pool pump when not being used, another effective way of saving power is installing a secondary power supply such as a solar power system. Not only will solar energy save you a considerable amount of money over a long period of time, it is also environmentally friendly, which means you will be reducing your carbon footprint.
Saving While Shopping For Groceries
The average price of a litre of milk is pegged at R10 and bread at R9 (both necessities). Considering the fact that branded goods would cost more than this, with a loaf of bread costing anything up to R14, it is important to look for less pricey alternatives. Most grocers offer in-house brands that cost a fraction of branded goods, so you might want consider replacing toilet paper, napkins, dish washing liquid and other products you use regularly with cheaper alternatives.
Also, most supermarkets have loyalty programmes that reward regular customers with anything from points that can be used to purchase products to cash-back rewards. Such a programme can drastically reduce your grocery expenses and leave you more cash in the pocket.
Getting Rid of Underutilized Belongings
Belongings that are not used may not cost you money, but they don’t make you money and take up a considerable amount of space. Selling them would yield some extra cash that can be channelled to things that need it the most. The same goes for your television and internet subscriptions (though you can’t sell the channels that you don’t watch). If you rarely watch television and / or use the internet for intensive applications, you should consider cutting down the amount of channels and the bandwidth cap you subscribe to.
Creating a cost effective home will mean making sacrifices and, if the aforementioned recommendations don’t work for you, take a look around your home to see if there are other things you can cut down on or get rid of that cost you money to maintain.
About the Author
Rosanne lives in South Africa. where the electricity prices keep increasing and believes that the best way to save electricity is by creating a cost effective home, making sacrifices and cutting down on necessary expenses.