Ways to Save Money on Household Expenses

With inflation and high-interest rates, most of us are feeling a little short of cash these days. Here are some tips for cutting back on your expenses.

Minimize Food Waste

Over the past couple of years, it seems like the price of everything at the grocery store has gone up. So, it’s important that you don’t waste the food you buy.

Try “upcycling” leftovers: use last night’s chicken in a sandwich for lunch or use the leftover veggies as part of a salad. Freeze fresh produce before it spoils. If extra bananas are starting to turn brown, for example, toss them in the freezer and use them later in smoothies.

Also, be aware that “best before” dates are not the same as expiry dates. They simply indicate peak freshness. Unopened and properly stored foods can be safely consumed after the best-before date has passed.

Turn Down the Power

There are a number of little steps you can take to reduce daily energy use. Most appliances consume “phantom power” even when they’re not in use. So, unplug things like your toaster, DVD player and gaming console when not in use. And, when the weather’s nice, skip the dryer and hang your clothes on a line instead.

Invest in Efficiency

Everyone knows the phrase, “you have to spend money to make money.” Well, if you’re investing in a home reno or replacing an aging appliance, it’s worth investing in energy-efficient options. Adding extra insulation, for example, will help reduce your heating and cooling costs throughout the year. A programmable thermostat allows you to turn down the heating or cooling while the house is empty and then set it to return to a comfortable level before you return. And choosing the most efficient appliances on the market will reduce energy consumption, saving you money in the long term.

Maintain Your Appliances

Make sure to regularly clean the filters on your heating and cooling system. The dirtier they are, the more power these systems must use to do their job. Keeping them serviced and well-maintained helps them work most efficiently.

Turn Down the Heat

Turning down the heat by a few degrees at night should help you sleep better, and not because you’re saving energy – it’s thought that humans get a better rest in a cooler space. A programmable thermostat makes it a hassle-free task.