7 effective ways to minimise your household expenses

1. 7 effective ways to minimise your household expenses 7 effective ways to minimise your household expenses

2. 7 Effective ways to minimise your household expenses • With the never ending needs of the millennial generation and the desire for instant gratification, it is no surprise that we’ve plunged into an age wherein our wants and needs outrun our resources • The innumerable tantalising online shopping deals and offers don’t help either. • It has become difficult to differentiate between our wants and our needs. • Here we have a list of 7 tips that have been proven to minimise household expenses and in turn increase your savings.

3. Effective ways to minimise your household expenses 1. Set aside savings – To begin with, you need to put away a part of your income, say 5% or 10%, every month before you allocate funds to any of your expenses A lot of people tend to spend their money first on everything they may possibly want, and then save whatever remains at the end of the month, if at all. This is a wrong way to go about it. 2. Create a Budget – You need to analyse your spending and make a list of all the expenses you incur during a month. Outlining the things you really need and the things you want.

4. Effective ways to minimise your household expenses 3. Avoid impulse buying – The biggest problem that most people face is impulse buying. You spend for stuff you don’t need simply because it’s in front of your eyes and looks attractive. 4. Lower your mortgage costs – The biggest drain on your income is usually EMIs at exorbitantly high interest rates. Find out if another bank is providing a lower interest rate, and transfer your mortgage accordingly.

5. Effective ways to minimise your household expenses 5. Use Public transport – Fuel costs put a major dent in your income. You could trade in your car for a less luxurious model, or you could choose the carpool 6. Use efficient energy sources – Look up lucrative online shopping deals to avail power saving options like LED or CFL bulbs and lights which will save tons of money. 7. Cut away other unnecessary costs – • There are a ton of miscellaneous costs that add to your monthly expenses. Cutting them out saves a lot of money. • Like cable TV, unwanted junk in your house and eating bills

6. Effective ways to minimise your household expenses With the right attitude, saving up, and cutting down on expenses can be fun, and may even work as a necessary economic cleansing that your life needs. • Family Deals Weekly offers • Competitions and giveaways, • Deals and offers, • KnowHow Reviews • lifestyle advice and tips

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