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3 Ways to Reduce Your Monthly Home Expenses

It’s always a great idea to save money when and where you can - especially if you’re working towards building up a solid down payment for your first Salmon Arm home. On the flip side, if you’re already a homeowner, then you know the importance of saving money to have a decent emergency fund ready to cover any unexpected home expenses, particularly for those big-ticket items like a new roof or furnace.


Maybe you already have an emergency fund and now you’re saving for an awesome RV vacation or for a boat to enjoy fishing on Shuswap Lake. Whatever your driving factor may be to squirrel away some money, here are three top tips to help you reduce your monthly home expenses, so you can add those funds to a savings account instead!


Track Your Spending


You may be thinking, “how will writing down all my expenses end up saving me money?” Well, when you actually see how much money you’re spending - and what you’re spending it on - you become aware of areas in which you can cut back; thus reducing your expenses. The activity of tracking each dollar you spend helps you to see the big picture and can help you identify where small purchases are adding up to larger monthly totals. For example, if you’re spending $100 a week on groceries, but half of it goes bad and gets thrown out because you’re grabbing take out four nights of the week, you can choose to either buy less groceries or cook at home more; resulting in some savings. Shopping in small batches, and creating a weekly meal plan to know what you’ll need in advance can help too.


Put Pride Aside


Don’t be too proud to claim coupons or discounts - a few dollars here and there can add up quickly! Need a new small kitchen appliance or other household item? Chances are you can find a coupon code online with a quick Google search. While you’re at it, call your cell phone company and your internet provider; you may be able to negotiate some savings or bundle your services to reduce your monthly bill. Saving money is a badge of honour; it means you’re a smart and savvy shopper!


Eliminate Vampire Power


Slay the “vampire power” in your home. Otherwise known as standby power or leaking electricity, simply turning off lights in rooms you’re not using and unplugging appliances when they’re not in use can save you money over time. You can also adjust your thermostat, use energy-saving light bulbs, keep vents clean, and change the filters around your home to increase their effectiveness while decreasing your monthly household expenses.


If you’ve been saving for a new home and are ready to dive into the Shuswap real estate market, give me a call today at 250.832.7051 to get started.

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