Money Saving Ideas for the Home *

Saving money starts with the basic necessities of the home. Every household can find ways to cut back on expenses around the house with a little planning and making some small changes to their habits. Making a few simple changes can make a large difference in the amount of money spent by the end of the month.

Cut Back on Electricity
When it comes to utilities, electricity is often a big expense. From cooling costs of running an air conditioner in India's hot summer months to turning on a light bulb, many households can end up with higher than expected expenses for electricity. Fortunately, this is also an easy expense to manage and bring down.
Start by changing out appliances so they are more energy efficient. From air conditioners to the microwave, new advances in technology have made many appliances less costly in energy, which is good for the wallet and environment.
Another key is changing the bulbs to options that use lower power. Energy efficient LED bulbs are easy to find on the market and can reduce electric costs dramatically by the end of the month.
Making use of natural light is another way to cut back on the electricity expense. Open the curtains during the day instead of keeping on all of the lights.

Improve Credit Scores
A higher credit rating results in easy approval of loans or at times  lower interest rates on loans and other credit necessities. Whether it is obtaining a new credit card or getting approved for a mortgage loan to buy an apartment, a great credit rating will have significant benefits.

Make a Shopping List
Impulsive spending is a major problem for many household budgets. Unfortunately, it is very easy to end up doing when going out for planned shopping like groceries or school supplies.
The easiest way to avoid impulsive shopping is making a list of the necessities before leaving the home. The list will act as a reminder of what is necessary and prevent buying those extra snacks.

Eating Before Grocery Shopping
Another way to help cut back on impulsive spending is taking the time to eat a meal before going to the grocery store. Extra purchases at the grocery store or local vegetable vendor might not seem like much at the time, but by the time a month passes it can easily result in much higher costs than expected.
By eating before shopping for food items, those extra snacks are simply not tempting or appealing. It makes it easier to stick to the items on the list and avoid the extra snacks that are easy to add when feeling hungry.

Entertain at Home

Going out with friends and family for meals, movies or other entertainment can add up, even if it is only once a week. Instead of making plans to meet outside the home, invite friends and family over for a meal. For entertainment after the meal, suggest playing a board game, watching a movie in the living room or playing a favourite game of cards.
Entertaining at home can cut back on the expense of restaurants and entertainment while also providing the opportunity to enjoy time with friends and family. Those who are unsure about their cooking skills can even suggest a day of cooking together for entertainment and a meal.

Avoid Bank Fees

Many banks offer free checking and savings accounts  ( Savings accounts with less maintenance or minimum balance needs in Indian context)  and it is best to take advantage of these services. It is not necessary to pay maintenance fees and added costs to simply keep money in the bank. Some of the free checking accounts will even offer rewards on debit purchases, making it an excellent way to save money and get rewards without using credit.

Saving money is simple with a few tips in mind. Making a few changes to save energy, avoid unnecessary extra costs and change impulsive spending habits can add up to large savings at the end of the year.

Guest author* Nisha Sharma. She represents a site called Nisha  loves to write, especially about travel, finance and offer business advice.

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