Contrary to what you may have thought, the key to having a well-filled savings account is not dependent on the income that you make. You can be making a lot of money but if you spend it all, there is bound to be none left over for your piggy bank at the end of the day. No matter what salary bracket you are in, as long as you spend less than what you earn, you can start building that nest egg. To save on household expenses such as food and other supplies, read the following tips.
- Buy in bulk whenever possible; it really is cheaper that way. Staples such as toilet paper, dishwashing liquid and shampoo are available in much lower prices by the case. Even certain food items such as canned sodas and tomato sauce are good items to stockpile; they keep well and are usually consumed at a fairly regular rate so the chances of waste are low. If you do buy in bulk, be sure to have proper storage and keep track of expiration dates.
- Compare prices. Not all goods are priced equal. For example, fruits and vegetables can be cheaper when bought at farmer’s markets and street vendors rather than from major grocers. Or it could be the other way around, depending on where you live.
- Use coupons and discount vouchers whenever possible. Coupons and vouchers can help you save as much as $500 a month on grocery alone. You can also go online to check out other discounts being offered by certain manufacturers.
- If it does not really make any difference, buy generic rather than branded. There are a lot of generic items that are comparable in quality to the branded ones. In our home, we only get generic toilet paper. If you are in doubt, try out a certain item and see how it compares. You might be pleasantly surprised. And even if you weren’t, no harm done, right?
- Plan ahead. Spurious and impulsive purchases are not recommended if you are on a budget. Have a regular schedule for grocery and other household-related shopping. By doing this, you avoid having to shop at a convenience store that may carry needed items at a higher price. Plus, you also save on gas and effort when you do your shopping systematically.
- Minimize eating out. If you and your family is in the habit of eating takeout, you could save a significant amount by starting to prepare your meals at home. Designate the weekend as a cook-off and stock up on individually portioned meals that you can defrost and warm up. That way, when you are tired and hungry, you can eat without too much effort and will be less likely to succumb to ordering in instead.
- If you don’t really need it, it’s not a good buy. Even if a certain item is priced at a major discount unless you have a legitimate use for it, buying it is still a waste of money.
This post was written by Joana Chrystal Ventura-Moises, Plumbing Point expert on plumbing and vessel sinks.