According to statistics, many Canadians are living on a rather tight budget nowadays, with 44% saying they would find it difficult to “meet their financial obligations” if their paycheck was delayed by a week or more.
Obviously living paycheck to paycheck, or just on a tight budget can be quite stressful with that constant worry of not over-spending.
One way people can relieve some of that stress is to cut back on house related expenses, which thereby frees up some cash that can be used in other areas of the budget.
Here are some ways in which you can do just that.
Simple Ways To Start Cutting Back On House Expenses
Shop Around For The Best Home Insurance Provider
Because your home is likely the most expensive purchase you will ever make in your life, you want to be sure it is protected and that’s exactly where insurance comes into play.
Home insurance provides you with peace of mind and will protect the property and the contents should damage occur. So while you don’t want to go without home insurance, you can certainly shop around and find a good rate.
Comparing home insurance rates before buying can save you tons of money over the long haul. With the LowestRates.ca website you can simply type in the postal code and the type of insurance you’re after, and it will provide you with up to 10 quotes that you can compare.
Get Rid Of Your Home Phone
If you are still paying for a landline phone and a cell phone, you are spending money unnecessarily. These days most cell phone providers offer flexible plans with more than enough talk time that there is no need for a landline phone.
And speaking of your cell phone, it also doesn’t hurt to call your provider and see if they can do anything for you in terms of current promotions or deals that will cut down your bill.
Get Rid Of Cable
Another cut that you can make is to get rid of cable. With the amount of streaming services available to homeowners, often you can get by with those and really don’t need cable.
- Related: Click here to see the simple ways to slash your cable bill
If you find you just aren’t ready to say goodbye to cable quite yet, switch to a basic package, or the entry-level package with the fewest amount of channels.
Use Energy Saving Tips
Energy saving tips are another great way to cut back on house-related expenses, in particular your hydro and gas expenses.
These tips include such things as investing in Energy Star rated appliances, switching to LED light bulbs, installing a smart thermostat so you can adjust the temperature more specifically and save your settings, turning off lights when not in use, opting for ceiling fans instead of always turning on the air conditioner, and so forth.
While each of these tips may seem relatively small, the fact is that the savings will start to add up and it won’t be long until you see some extra cash at the end of the month.
I known when I first using these tips to save money, I was questioning if it was worth it. But over time the savings did add up.
My electric bill went from close to $100 a month down to less than $50.
I saved $25 a month on my cable bill. And by ditching my home phone, I was saving $35 a month.
That comes to $110 a month or close to $1,500 a year I was saving!
Don’t make the mistake of doing nothing. These tips do work, but you have to first start using them!