While most of us don’t need to have a private jet to be happy, it can be difficult to really enjoy our lives if we can’t pay for the things we really need. Everything seems to cost a little more each year, which can make paying for the necessities more difficult each year.
Use these techniques to save money on necessities, leaving more for the other things you enjoy:
1. Since food can be one of your larger necessary expenses, it makes a lot of sense to spend some time trying to minimize it.
- Grow your own. Most kids love gardens and will help you enthusiastically. Seeds can be inexpensive or shared between friends, and it’s much healthier than eating the stuff in the grocery store that’s likely been exposed to herbicides and pesticides.
- Use coupons. Some people seem to be able to buy $300 worth of groceries for $1.68 but that must take a lot of time. Just sift through the newspaper for a few minutes weekly and pick out the coupons for things you already use and save on them for that small amount of work.
- Make a list. Write a shopping list and stick to it. If you only buy what you need when you shop, you won’t spend more than you need to. My mum’s so good at this!
- Buy specials or in bulk. When things are cheaper, buy then and save! Check reduced shelves for deals but don’t go buying things you usually wouldn’t.
- Order online. If going to shops makes you add extras and spend more overall, consider ordering online where all the extras are out of sight and less likely to push your total up. Remember that delivery or picking costs get added but you will likely still save overall.
2. If you own a car, truck or motorcycle then you probably need to purchase gas on a regular basis. Follow these tips to cut down on the cost:
- Car pool. Odds are that someone who lives near you is heading in your direction. Share the ride and split the cost of gas.
- Maintain your vehicle. Having the proper air pressure in you tires can make a huge difference to their wear and make them last longer. Change the oil, transmission and differential fluids on schedule and get a service or tune-up annually.
- Make one trip. Driving back and forth to shops multiple times weekly wastes gas. Plan your trips so you get several things done at once and have fewer reasons to spend time and money driving around.
3. Unless you have a very simple life, electricity, water, cable, internet, and your phone are expenses you have to deal with every month.
- Only use what you need. If you’re not watching the TV or listening to the radio, then turn it off. Turn off lights when you leave rooms. Only run the shower for the time it takes to wash. Give your kids timers to help them apply these frugal life lessons too.
- Only buy what you use. Do you need the cell phone plan that you have now? Can you get rid of your landline or change down your cell plan? Examine all your bills and determine if you really need the level of service that you’re paying for on each one.
- Set your thermostat wisely. Turn down the heat in the summer and at night so the water isn’t being overheated. You pay for that energy. Minimize the air con if you’re gone all day. Do you really need it to be 68 degrees in the summer and 78 degrees in the winter? Dress appropriately and save some money. It adds up.
4. Insurance costs a lot. Do what you can to reduce what you pay:
- Raise your deductible. Doubling your auto insurance deductible can reduce your premium by up to 30%. Multiply that over a few years and you’ll be surprised at what you can save.
- Only get what you really need. If you live on a mountain, flood insurance might not be necessary. If your health is spectacular, raise your deductible and co-pays on your health insurance to save money on your monthly premiums. If you drive a clunker, you likely don’t need every car insurance option available. I’ve had third party fire and theft when my car value was low and it served me perfectly well for years.
Necessities are those things that everyone needs. Finding ways to save money on necessities can be as simple as spending a little bit of time contemplating how you can pay less.
The key is to not buy more than you need and to avoid being wasteful.
Big savings are just around the corner with a little planning and work.
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Thanks!
Meagan
