Besides your rent or mortgage payment, your household expenses can include your utility costs for gas, water, and electricity, property insurance, healthcare costs, and other needs of every person in your home. If not properly managed, these costs can quickly add up to thousands of dollars, quickly draining your resources and getting deeper into debt. This is especially true considering the ever-rising costs of gas and basic commodities.

While you may consider a side hustle or getting a higher-paying job to cover your household expenses, the problem may not always be how much you earn but rather how much you spend. However, if you’re currently unemployed and are struggling to make ends meet, you may consider applying for Family benefits in Saskatchewan, so you can provide for your family and cover your monthly bills without having to take on additional debt.

Whether or not you’re on benefits, reducing some of the overlooked household expenses can help you avoid debt and grow your savings without too much hassle. In this article, we’ll look at some of the best ways to reduce your household expenses and save more money:

1. Keep Track of Your Spending Habits

One of the most effective ways to cut your spending is to keep a close eye on your money. Knowing where your money is going makes it easier to determine expenses you can reduce. That means maintaining a written record of what you spend your money on, whether it’s something small like a one-dollar drink or a huge expense like college tuition.

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Doing that can help you see how much you spend on unnecessary items, allowing you to make the necessary adjustments to reduce your costs going forward. If you’ve been making purchases using your credit or debit cards, you can find your expenditure information on your statements. You can also use a budgeting app to keep track of your spending.

2. Create a Budget

Another simple yet incredibly effective way to save on household expenses is by creating a budget and sticking to it. Budgeting allows you to separate your spending into different categories like needs, wants, and goals. This makes it easier and more manageable to monitor your spending and plan to reduce it, so that you can save more every month.

Another great way of budgeting is using the 50-30-20 rule, where you spend 50% of your income on basic needs like housing, clothing, food, and utilities, 30% on your wants like entertainment, and you save the remaining 20%. This can help you figure out what expenses to cut to grow your savings. Building an emergency fund can help you avoid debt when a financial emergency arises.

3. Save on Utility Costs

Utility bills take up a huge portion of your monthly household expenses, and late payment fees can easily wipe out your savings. Fortunately, there are many ways that you can save on your utility costs. Great to lower your utility bills include using energy-efficient LED bulbs in your home that usually last longer and consume less electricity. Installing a programmable thermostat can ensure your HVAC system runs only when you’re at home, saving on utility bills.

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Another excellent way to reduce your electricity bill is using power timers and strips to turn off devices when not in use or unplug them. Always turn lights off when you leave a room, properly insulate your home, and repair any leaky faucets and toilets. You might also want to replace older electrical appliances with more energy-efficient models.


There you have it. From reducing your utility bills to budgeting and tracking your spending habits, the tips above will help you spend less and save more each month to achieve your financial goals. Besides building an emergency fund, you may also want to consult a financial expert on investing your money and growing it.