How to Cut Costs and Save Money at Home

- by Elizabeth Redfern

The Complete Guide to Financial Crisis RecoveryChapter 6

Your home is your sanctuary, but it definitely costs money to maintain it. Nevertheless, your home needs to be a safe and comfortable place to be, even when you’re paying off debt. Cashfloat explores clever ways to save money around the house without scrimping on the essentials.

How to cut costs and save money at home - Financial crisis recovery guide - Cashfloat

Save Money on Household Bills

You’ve got to keep a roof over your head and the water and electricity running, but those bills can add up quickly. It can feel like you barely have any money left after paying for these necessities. Use these Cashfloat tips to cut costs and save money at home.

Appliances & Repairs

  1. Clean and maintain appliances properly
    When’s the last time you cleaned your oven properly? (Don’t worry, we won’t tell anyone!) Caring for appliances according to the manufacturer’s instructions helps them work better and can save you money on repairs.

  2. DIY appliance repairs
    When appliances break, do you repair or replace? You can use this guide to figure out which is the most cost-effective for your situation.

  3. If you want a job done right, do it yourself. -Anonymous- Cashfloat
    If you want a job done right, do it yourself. -Anonymous- Cashfloat
  4. Buy energy-efficient appliances
    When buying a new appliance energy efficiency matters. Go for the most efficient one you can afford – it will save you money in the long run.

  5. Wash Wisely
    Learn how to clean your clothes correctly to make them last longer.

  6. Home Decoration & Improvements

  7. Home improvements that could save you money
    Did you know that certain upgrades to your home can actually save you money? Home improvements can save you money in the long run as they can prevent existing problems from escalating into expensive repairs.

  8. Got mould?
    Try these DIY mould removal tips before calling professionals.

  9. Energy & Utilities Savings

  10. Try to fix heating problems on your own first
    Check this guide for tips on how to fix heating system problems yourself before phoning the repairman.

  11. Use smart home technology to save
    Invest in a “smart” thermostat like Nest or instaling thermal curtains to cut down your heating and cooling bill.

  12. The Nest thermostat saved US customers 10%-12% of their annual heating bills. Cashfloat
  13. Switch energy suppliers to save
    If you’ve been with the same provider for a while, you may be overpaying your energy bills. Switching suppliers could possibly save you money.

  14. Light your home with LED
    Consider switching to LED lighting to save money at home.

  15. Check if you are eligible for compensation
    You might be entitled to compensation from Ofcom for poor or slow internet or repair services.

  16. Rake in utilities savings
    Keep your utility bills down with these creative tips.

  17. Cut Phone, Internet & Broadband Costs

  18. Pay for the right type of plan
    Your phone, internet and broadband plan should fit your needs – not your supplier’s needs. There are so many ways to save on these services if you can identify what you really need out of your phone, internet, and television.

  19. Only pay for the services you need
    Look over your mobile phone contract – you may be paying for services that you don’t use, like international calling.

  20. Save money at home: only pay for mobile phone services that you use- Cashfloat

    Children’s Expenses

  21. Save money on buying children’s toys
    Outfitting your kid’s toy box can be a huge expense – but it doesn’t have to be. If you keep an eye out, you can find loads of deals on children’s toys and never pay full price again.

  22. Does your child’s school have a uniform? You may be able to get help with uniform costs from your local council. Find out if you’re eligible!

  23. Building & Protecting Your Savings

  24. Get cashback for household items
    Use free cashback sites like Quidco and TopCashback to make money when you shop online for household items, other essentials and extras.

  25. Use money apps
    Check out these 10 money management apps to help you budget, organise and stay on top of bills savings and expenses.

  26. Saving money throughout the year makes holiday expenses much more manageable-Cashfloat
  27. Save for seasonal expenses
    Building savings is all about being prepared. Plan ahead to save year-round and be prepared for more expensive seasons, like the holidays.

  28. Create an emergency fund
    Put aside a fixed amount every month into an emergency fund. Emergency funds should only be used in a real emergency, for example, if your oven has broken down and needs fixing quickly or you require some unforseen medical attention that costs money.
  29. Forewarned is forearmed
    Learn to safeguard your money and belongings from thieves with this comprehensive guide

Cutting Costs Around Your Home

Household expenses can be pretty expensive, but they don’t have to use up your entire salary. Armed with these money saving tips from Cashfloat, you can cut costs and save money at home! You might be able to slash your bills more than you ever thought possible. All it takes is paying a little more attention to where your money goes and a willingness to try some DIY projects. Fore more tips, you can read Halifax’s dedicated page on saving.

  1. Gray, Jessica (last updated 08/01/2020) “18 Clever Ways to Save on Utility Bills and Still Stay Cool This Summer” – Retrieved 29/04/2020
  2. Brassfield, Mike (last updated 29/04/2020) “How to Save Money: 6 Step-by-Step Ways to Save Big Every Month” – Retrieved 29/04/2020

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About The Author
Elizabeth Redfern
Elizabeth Redfern is a born and bred Londoner who loves the city life. She is a proud chocoholic who enjoys reading, jogging and eating - especially chocolate! Elizabeth attained a first class degree in Mathematics but chose to make a career out of her real passion, writing. She has published many poems and short stories, but decided to join the Cashfloat educational channel writing team because she is passionate about helping people take care of their finances leaving them free to enjoy the finer points of life - most notably (in her opinion), chocolate!
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