Just having a home will cost us money. When we move in it can just feel like it is the rent or mortgage that we will have to pay, but once we move in the reality of everything else will hit us. There will be all sorts of other things to also pay for such as utilities (if they are not included in the rent), decorating, furnishings, insurance and things like this. These can add up and you may start to find it hard to cope and may even have to borrow money using a payday loan to be able to manage. However, there are things that you can do to reduce the costs.
- Choose an affordable property – when you are picking a property, whether you are buying or renting, it is wise to make sure that you take all of the costs into consideration. This means that you need to look at how much it will cost you in extras on top of the rent of mortgage. Consider things like utilities, insurance and furnishings. Think about whether these are included in what you are paying or whether you will have to pay them on top. Try to find out how much they will be and then you will be able to calculate whether you will be able to afford them and the rent or mortgage. It will take a bit more investigation and it could take you longer to find a suitable property but it will be worth it, as you will be able to be confident that you will be able to afford it.
- Compare prices – it is wise to make sure that you compare prices on the things that you are buying. So rather than going with the first insurer or utility company that you come across or using one that you have always used. Compare the prices and you will see that there is quite a big difference between them. It is important to make sure that the one that you choose will provide you with the service that you want and so gives you god value for money. Some extra cheap services will not be as good. However, it is still likely that you will be able to save money and so it is a good idea to do this and check out what the situation is.
- Reduce electricity use – if you are being billed for electricity then it is wise to try to use as little as you can. Heating and air conditioning tend to be the most expensive things that use it as well as heating water. Think about ways that you can reduce these costs. It might be that you can cope with having the settings a little less extreme so that it is cheaper. It might be that you can make sure that things are switched off when you are not there or at least turned down. You may be able to use some solar chargers or other alternatives to generate some cheaper electricity.
- Keep furnishings simple – if you do need to buy furnishings or you want to add to what you have with pictures, cushions, ornaments and things then try to keep things classic and simple. Buying too much will be expensive and cause clutter. You could slowly add to what you have and look out for bargain pieces or even second hand items so that you can save money and make your purchases affordable.
- Do not change with the fashion – If you want to keep up with the latest trends then you will be spending a lot of money regularly as you keep changing things. If you do want to keep changing things then consider buying second hand so it is cheaper, you may still be able to find items in trend if you look in thrift shops. Otherwise buy classic styles rather than trendy ones and there will be no need to keep replacing them.
- Do not claim on insurance – although insurance is there to help us to cope with costs that we would not otherwise be able to afford, if we keep making claims on it our premium will go up. This means that if you have contents insurance then not claiming on it could help to keep it cheaper. Obviously, you will need to claim on it if you suffer a loss of all of your possessions but a small thing breaks or gets damaged then it might be cheaper for you to get it repaired or replace it than to claim. You could end up paying for it many times in the increase of premium that you will be paying. So, save your claims for more significant items and keep some money in your savings account to pay for replacing or repairing cheaper items.