The biggest challenge faced by breadwinners and homemakers of a growing family is how to minimize household expenses. There is an urgent need to balance everything from food, education, and utilities, to retirement and emergencies. The American Psychological Association, however, found that 36% of Americans even avoid talking about budgeting. For many, budgeting relates to cutting cost on travel, entertainment, and other fun activities. This isn’t always the case as you can cut down on expenses without compromising your enjoyment. Here are some of the ways to do this.
Become A Smart Shopper
Did you know that the biggest profit of manufacturers comes from small items? When you go shopping, you sometimes find yourself buying small packs of non-perishable items or home essentials because they’re cheap. While this seems to be a logical choice, you should know getting them in small packages can turn out to be more expensive than buying them in large packaging. Try checking out the prices of two 500-gram laundry detergents and compare them with its 1-kilo variant. You will find out there might be a difference from a few cents to a dollar or more. Shopping for the household essentials in the right packaging can help you save a great deal.
Get Creative With Entertainment
Entertainment plays an essential role in everyone’s lives as it provides a break from an otherwise hectic routine. This doesn’t mean though that you need to go to cinemas to watch a movie. The National Association of Theatre Owners revealed that the average movie ticket price today is upwards of $12 per person. If you are a family of four, you might find yourself spending within the proximity of $100 including food and transportation or gas expenses. In contrast, standard cable or movie streaming services cost within the range of $13 to $20 a month. This is a far cry from the $48 you need to pay for cinema tickets. You also get to enjoy the food you prepared yourself which is cheaper than those bought at the movies. As a bonus, bonding moments with your family is better this way.
Bring Down Your Energy Bills
Saving on energy use can also help lower your household expenses. Energy costs vary from one state to another. Data from the US Energy Information Administration showed that Hawaii residents spend over $148 on the average monthly bills compared to $115 in Los Angeles. You can shave off several dollars from that figure through a variety of ways. You can replace your old light bulbs with LED lights, which have been proven to be more energy-efficient than standard lighting. For temperature control, installation of programmable thermostats can greatly help save on heating and cooling bills.
These are only some of the ways to minimize your household expenses. There are many other things you can perform to help save on costs. At the end of the year, you’ll be surprised at how much you were able to save. The best thing about this is you still get to enjoy all other activities you love to do like watching movies with the family.