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Whether or not you believe money makes the world go round, it’s an important thing to master as an adult. Being in control of your finances, being careful with spending and knowing how to stretch your money are all crucial things to learn. As a homeowner, you’ll probably find if you take a look at your monthly bills you’re hemorrhaging money all over the place. But there’s plenty you can do to put it right.
Read on to find out more.
When you save money on your energy bills, you help the environment as well as your bank balance. Reducing the amount you use also reduces the fossil fuels being burned which is good news for everyone. And there are a number of ways you can go about this as a homeowner. The first is to make upgrades and adjustments to your actual property.
You could have more energy efficient windows and doors fitted, as well as loft and cavity wall insulation installed. This will prevent the heat you do use from simply escaping through the windows, walls, and roof. You have the option of having solar panels installed, these cost between £4,000 and £6,000 on average but will pay for themselves over time with the money you save on your bills.
There are also some smaller things you can do around the home that doesn’t require any building work but still add up. Instead of having your heating on constantly, set it to a timer so that you’re not wasting energy needlessly. These days you can hook up your heating to a smart home system to run through your phone, giving you full control.
Replacing your regular light bulbs with LED bulbs saves a significant amount of energy (the bulbs themselves last far longer too, so you also save on constantly replacing them. And switching electricals off rather than leaving them on standby will also add up over time. All of these things combined can save you a significant amount on your gas and electricity. If it still seems high, speak to your provider. You might need to switch or move to a tariff that suits you better.
The problem with debt is it can easily spiral. When you borrow money on things like store cards, credit cards and loans, not only do you have to worry about paying back what you borrowed but the interest too. If you don’t have a very good credit score, you could end up paying back two, three, four times more than what you actually borrowed just on the interest. A lot of people find themselves in a position where they can only make the minimum payment each month, which only covers the interest.
This means you can be paying each month and not making a dent in the debt itself as you’re only paying for the interest. If you’re starting to struggle to make ends meet or have got yourself in a pickle, speak to a debt agency. It’s not an ideal situation but something many people find themselves in. Rather than simply ignoring the problem and making it worse, a debt agency can speak to your creditors on your behalf and negotiate affordable payments. While it will take you longer to pay back, it can get you back on track financially and mean every month is less of a struggle.
Your grocery bill will be one of the biggest expenditures to deal with each month. Food is expensive, especially when you’re not shopping smart. You can reduce your grocery bill by buying more fresh ingredients and cooking from scratch rather than buying convenience and pre-packaged food. You could cut down on meat which will always be one of the most expensive items in your shopping trolley. And you can write up a meal plan and stick to it. When you go into the shop knowing exactly what you need to buy, you’ll be less likely to wander around and be tempted by things you can do without.
What sort of things do you do to help cut your monthly bills? As always I love to read your thoughts.
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