How to save money on household bills, shopping and living costs during the cost-of-living crisis. Including ways to make extra money, and reduce waste and energy consumption.
Money tree - Photo by Micheile Henderson on Unsplash
How to Make and Save Extra Money
The cost-of-living crisis is a major concern for many people. From increasing housing costs to rising prices of groceries, it can be hard to make ends meet. Fortunately, there are ways to save money and get the most out of your budget.
In this post, we'll discuss 10 ways to save on living costs during the cost of living crisis, so you can try to stay on top of your finances because every little helps when things get tough.
1. Cut down on visits to the coffee shop and bring your lunch to work
During the cost-of-living crisis, it is important to reduce your expenditure as much as possible. One way to do this is by cutting down on visits to the coffee shop and bringing your lunch to work instead. This will not only help you save money on expensive coffees but also reduce your spending on lunches while saving you time and energy.
When packing your lunch, make sure to use reusable containers that can be washed and reused again, rather than using single-use plastic containers, kitchen foil, plastic sandwich bags and clingfilm. Doing this will help you reduce your shopping bills, as well as help you shop more environmentally friendly.
Similarly, instead of buying fizzy drinks and bottled water from the shops, use a reusable bottle and fill it up at home and take it wherever you go so that you don’t need to spend on drinks and add to the plastic crisis.
When it comes to food for lunch, try to buy supermarket own-brand products or shop in bulk to get the best deals.
2. Use up products and foods in cupboards that you pushed aside
During a time of rising cost of living, it's important to find ways to save money and reduce your costs. One great way to do this is to make use of products and food that you've been storing in your cupboards. Many people push aside food, beauty and cleaning products they're not interested in using anymore, but don't want to throw away.
However, these products can be valuable to you if you can find ways to use them up – even if you don’t fancy eating them or using them, they’ll be worthwhile just putting up with to save money because once they’re gone, they are gone – obviously, if they are way past their sell-by date, then don’t.
Using up products that are already in your home can help you save money and avoid purchasing new products or ingredients for your meals in the meantime. For example, if you have a bag of rice that you've been storing for a while, use it to make a stir-fry or a delicious rice pudding. Or, if you have canned goods that you're not sure what to do with, get creative with recipes to turn them into something new.
If you have a large collection of ingredients or products you don't plan on using, donate them to charity or give them away to friends and family who may be able to make use of them.
By using up products and foods that are already in your home, you can reduce costs and help yourself out during the cost-of-living crisis. If you have belongings that you don't need, sell them to make additional income or donate them to help those in need who may be struggling more.
3. Reduce your spending and monthly expenses
One of the easiest ways to save on living costs is to reduce your spending and monthly expenses. Start by creating a budget and tracking your spending, so you can figure out where you can make changes and cut back.
Look for areas where you can save money, such as cutting down on non-essential purchases or reducing the amount of money you spend on bills like utilities, to see if there are any deductions you can get. You may also be able to lower your insurance premiums by bundling services, opting for a higher deductible, or shopping around for better rates.
It’s also worth looking at any subscriptions or memberships you have and seeing if they’re still necessary or cost-effective. Finally, consider switching banks or credit card providers if they offer better deals. By taking the time to review your spending habits and monthly expenses, you can make significant savings and put more money towards other important areas of your lifestyle.
4. Shop at discount bargain stores and visit best-before-sell-by-date warehouses
If you’re looking for ways to save on living costs, shopping at discount bargain stores and best-before-the-sell-by-date warehouses can be a great way to save some money. Discount stores usually offer lower prices than regular stores and can often carry similar products in larger multipacks. Shopping at these types of stores can help you get the same items you need at a lower price.
Additionally, best-before-sell-by-date warehouses provide products that have passed their best-before date but are still safe to consume and use. These warehouses can sell the products at much lower prices than regular stores, as they cannot be sold in regular stores. Shopping at these warehouses is a great way to get food, toiletries and household items at a fraction of the cost.
5. Use coupons and loyalty card stores, search for online discount codes and use cashback sites every time you purchase
Using coupons and loyalty cards in-store is an easy way to save money. Many stores have coupon sections and loyalty programs that you can take advantage of to get discounts on your purchases.
You can also look for online discount codes and use cashback sites every time you purchase, as this will help you save money and get better deals. The sites Top Cashback and Honey are my favourites, and if you can’t find the latest discount code from Honey or a similar alternative, make sure you are signed up to the retailer’s mailing list so that you can receive offers and vouchers that may not yet be publicly available.
6. Find a way to earn passive income from your hobbies and interests
One of the most effective ways to increase your income while living through the cost-of-living crisis is to find a way to earn passive income from your hobbies and interests. Whether you’re an artist, writer, crafter or web designer, there are numerous ways you can monetise your skills and make money.
You can create products such as artwork, digital designs, websites and more and then sell them online for a profit. Or you may be handy at putting up flatpack furniture, gardening, dog walking or organising homes – whatever it is, let people know about it. Share photos of your skills on social media and encourage friends and family to share to get the word out there.
By taking advantage of the opportunities available, you can easily make some extra money and use it to cover living costs. It may take some effort to set up shop and get the ball rolling, but it will be worth it in the long run. But don’t forget you’ll need to declare earnings if your homegrown enterprise takes off.
7. Buy groceries in bulk, meal prep and compare the sizes and prices of products to get the best deal
One of the best ways to save on your living costs is to buy groceries in bulk, meal prep, and compare sizes and prices of products to get the best deal. Buying in bulk is an excellent way to save money, as it allows you to purchase items in larger quantities at a lower cost per item.
Meal prepping is also an effective way to save money as it allows you to plan out your meals for the week and shop for all the necessary ingredients at once. By doing this, you can save time and money by avoiding having to shop multiple times during the week.
When shopping for groceries, it is important to compare prices and package sizes of products to get the best deal. Buying in bulk can be cheaper, but only if you buy items that you will use up. Also, look out for naughty tricks brands do, for example, compare the packs of toilet rolls by different brands that contain the same amount of rolls, you may notice that some use a larger core so that it looks like there’s more toilet paper when there’s not. So go for the one that has the smaller core and contains more toilet paper to last you longer – you may be pleasantly surprised that it’s the cheapest option too.
8. Reduce your household energy consumption and waste less
One of the easiest ways to reduce your monthly expenses is by reducing your household energy consumption. By being conscious of how much electricity, gas and water you use, you can make a big difference in your bills. Turn off the lights when not in use, use energy-saving bulbs, unplug appliances when not in use, and use energy-efficient cooking appliances and boilers.
Additionally, you can also save money by reducing food waste, creating meal plans, and freezing leftovers. If you have leaky taps, get them fixed, and if you have drafty windows, look online for a clear waterproof roll of tape to apply to the gaps to stop your heat from escaping.
9. Sell your unwanted belongings
Selling your unwanted belongings is another great way to save up money for essential living costs. Whether it be clothes, furniture, electronics, toys or books, if you have items that you no longer need or use, then it’s time to let them go! Selling your belongings is not only a great way to make some extra cash but also helps you declutter and free up space in your home – you may find it therapeutic.
One great option for selling your items is through online marketplaces such as eBay and Facebook Marketplace. These sites make it easy to create a listing with photos and descriptions of the items that you want to sell. You can also price them competitively to increase your chances of making a sale. Additionally, you can opt to sell your items locally by hosting a yard sale or advertising them in your local newspaper.
No matter which selling method you choose, selling your belongings you don’t need can help you save some money. So take a look around your home and identify what items are taking up unnecessary space – and turn them into cash!
10. Use public transportation
Using public transportation is a fantastic way to cut costs. Taking the bus, tram, or train instead of driving your car can cut down on fuel costs, as well as parking fees and car maintenance. Additionally, it's good for the environment and may even save you time if you're in a congested area.
Understandably, public transport isn’t everyone’s cup of tea, they can be hugely inconvenient at times and, depending on where you live, unsafe too. For this reason, you could organise a carpool with colleagues, friends or family or ride a bike if your place of work isn’t too far.
So, there you go, just a few tips to get you thinking about ways you could potentially cut household living costs and how to make savings on shopping by being savvier.