We’re going to let you in on a little secret. Most of us are wasting a fortune. The average household struggles to keep track of the little outgoing expenses which may not seem all that dire in isolation but can quickly add up as the months and years go by. It’s time to plug the flow of cash in 2020!
You need to see the leak to plug it!
As any plumber will tell you, you need to be able to see a leak before you can fix it which is why you need to draw up a household budget which accounts for everything coming into and going out of your house. This means everything from your rent or mortgage to the candy bar you bought on your way home from work last Wednesday. This will help you to stay more conscious of your spending and prevent unpleasant surprises when you look at your bank balance.
Your service providers
Whatever you do, never let your contracts with your service providers roll over without seeing what other offers are out there. This goes for everything from your utilities, broadband, and phone to your car insurance. Your providers are counting on you to let your contracts rollover. And if you think they’ll reward you with better deals, think again. You could be wasting a fortune every month when you could get the same or better services for less. Keep checking on price comparison sites and don’t feel that you have to stick out a bad contract. Often, a service new provider will pay your current provider’s fees if they charge you to leave your contract early.
Your home
Believe it or not, your home could be leaking money at a rate that really adds up as the months go by. Everything from the state of your roof to the age of your windows to which appliances you leave on standby overnight can add exponentially to the cost of running your home. Even the materials your roofing tiles are made of and the state of your attic insulation can have a huge effect on your heating bills. Take a look at this Guide To Working With Roofing Companies. It could save you a fortune in the years to come.
Your credit cards
Finally, don’t let your credit cards eat into your monthly budget. Yes, for many households credit card debt is a necessary evil, but that doesn’t mean that you can afford to keep throwing money away on interest.
Always try and move your debt to new cards when their low / zero interest period expires. Sure, you’ll incur a fee, but this will pale in comparison to the savings you make on interest and help you get your debts paid off faster.
