Stretch your budget with these money-saving household tips!
Which household items do you buy the most? Consider that these are the products that significantly impact your budget. If week after week you waste money on pricey household essentials, those costs can start adding up and taking a toll on your finances.
Although spending less on toiletries, groceries, and cleaning supplies may seem insignificant, this strategy can help you allocate more of your income towards savings for long-term investments, future goals, or building an emergency fund.
Ready to hear about money-saving household tips? These are the top 12 recommendations that personal finance and money-saving experts advise.
Money-saving household tip: Sign up for free samples
A huge way to save on household essentials is to sign up for any free samples that may be available where you shop. Many brands are always looking for new customers, and they’re willing to give out free samples in hopes that you’ll become a loyal shopper.
Not to mention, some marketing agencies will send samples of items in return for your honest opinions to aid in making their services and goods even better. This is a fantastic way to try out new things and also get some of the ones you love for free!
You might even find free samples through your favorite brand’s direct website. Another wonderful option is to sign up for free samples through sites like PINCHme.com and SampleSource.com.
Money-saving household tip: Differentiate between your needs and wants
One of the best ways to begin saving money on household essentials is to look at your patterns regarding purchases and determine between essential products and those that are wants but not needs.
From there, you can make a shopping list that includes all the essentials and budget for some of the items you want. Creating a list before running to the store will help you avoid impulse buys that put a massive dent in your wallet.
Remember that grocery stores are designed to motivate spending, from their layout to the placement of their products. For example, essentials like bread and milk are usually located at the back, making you walk past a plethora of tempting items on your way.
Money-saving household tip: Explore new brands
You shouldn’t be entirely committed to one single brand. Instead, be willing to try some new ones from time to time.
Consider this: how many times have you found a new brand you love, started buying it, and everyone else loves it too, so they change the formula or hike up the prices? Now, your new, wonderful, and affordable brand is ruined. Well, it’s time to move on.
We get that everyone has a few favorites that are non-negotiable, like using Brawny paper towels or Tide Pods. Yet, most of the time, you should be willing to try new brands and things until you hit on the perfect combination.
Money-saving household tip: Be on the lookout for sales
The average household income is roughly $70,784 per year. But you might be able to live just as well as someone making more if you’re clever about how you handle your finances. Pay close attention to what items go on sale and when.
For instance, if you usually buy your laundry detergent pods from Costco or Sam’s Club, pay attention to the flyer they send out. You can grab instant savings or coupons and get a little cash off the discounted bulk rate.
For instance, if you use Charmin toilet paper, Sam’s Club frequently runs a discount that comes off at the register of around $4.00.
If you’re a Plus member, you may find having items shipped is cheaper than going into the store. It’s tempting to buy things you don’t need when seeing new items on display and trying samples.
Money-saving household tip: Try comparison shopping
Keep a mental note of how much your favorite items cost at different locations. You might want to keep a master list on your phone if you’re forgetful. This way, you’ll immediately see if the price is reasonable when something goes on sale.
You’ll also know which stores carry the items at the best price. So, if you need to refill your household items before they go on sale, you can at least pay the lowest price possible. Look at bonuses, as well.
If the shampoo you like is the same price as Walmart or Kroger, but you get some extra fuel points for buying it at Kroger, then collect the points to save some money on gas.
There are quite a few price comparison websites and apps that can help you in finding the best deals across various stores. You can stretch your monthly budget even further by putting in what you need and heading to where the best promotions are.
A few popular options include MyCartSavings.com, Price.com, ShopSavvy.com, and BuyVia.com.
Money-saving household tip: Let’s talk about that master list
This is important! Begin by making a list of the items you buy regularly. While we recommend using the best value brand, many folks sometimes find something that works best for them, like a particular type of laundry detergent or deodorant.
Note if there’s any flexibility in which brands you buy on your master list. How often do you have to purchase the item?
You should know the answer because if it only goes on sale every six months and is used twice monthly, you’ll want to buy enough of the item to get you through until the next sale rolls around. When saving money, you must constantly plan and take advantage of loss leaders.
Money-saving household tip: Buy generic brands
When you go grocery shopping, you’ll likely realize that most essential items are available in many generic and branded forms. By opting for generics, you can save lots of extra cash without necessarily compromising on the quality of the items you’re buying.
Store brand paper products, cleaning supplies, and other daily household essentials frequently work just as well as the name brand, but can save you about 30% on average.
This is especially true for single-ingredient goods like bleach or pantry staples like flour and sugar. It’s the same whether it’s from a name or generic store brand!
Money-saving household tip: Purchase in bulk
If you don’t already have a warehouse membership, you should know that you can save lots of money by buying in bulk. But remember to compare like to like. Some things aren’t a great deal, and consider that you’ll have to find room to store all your extra items.
You can also avoid having to watch for sales when the items are always a bit lower than in other retailers. For instance, a 5 oz can of Starkist Chunk Light Tuna in Water is $1.14 at Walmart. A 12-pack of the same tuna costs $10.98 at Sam’s Club, or $.92 each.
You’ll find similar deals for household items like paper towels, cleaning supplies, toilet paper, and health and beauty.
Just make sure you do the math and ensure that it’s a good deal. Watch the package sizes, as well. Again, not all items at warehouse clubs will be a good value. So always crunch the numbers.
Money-saving household tip: Take advantage of rewards apps
Many stores nowadays also have rewards apps, which can provide additional savings for the savvy shopper. In particular, we recommend trying Fetch.com.
All you have to do is snap a photo of your receipt to earn points that are redeemable for gift cards to an assortment of stores from Amazon to Target to Dick’s Sporting Goods and Sephora.
Some products and stores will earn you more points faster. So be sure to check their special offer section to see which brands and items to pick to stack up those gift cards faster.
Money-saving household tip: Make your own cleaning products
Some more challenging cleaning jobs might require heavy-duty products from the supermarket. And those prices can put a dent in your household’s monthly budget. So you can try making your own simple solutions for everyday cleaning.
Most household cleaning products use synthetic chemicals that work in pretty the same way as natural products like vinegar, lemon juice and baking soda. You can save lots of cash on these products by making your own instead.
And by doing so, you’re actually taking potentially harmful chemicals out of your house and replacing them with natural alternatives.
Money-saving household tip: Take advantage of coupons
It’s more complicated nowadays than it used to be to use coupons, but they’re still around. You can frequently find good deals on household products by clipping digital coupons for places like Dollar General, where you can shop on a Saturday and use the $5 off $25 coupon.
But there are also coupons available at Walgreens, CVS, and Kroger. Here at Frugal American, we love to double up on offers and get cash back from places like Ibotta.
Check out information on the various rebate apps and choose one or several that make the most sense for what you need in your home.
Money-saving household tip: Opt for energy-efficient electricity sources and appliances.
We get it… it’s a utility, so what can you do? After all, there’s nothing more “essential” than electricity, right? Well, the bad news is that it can eat away at your monthly budget. So, one way to curb your electricity bill is to ensure your appliances are up to date.
Technology has made electricity use more efficient. So, if all of your appliances are 30 years old, replacing them can definitely help you save at least $50 a month on your bill.
If you’re not able to make those replacements, though, black-out curtains to keep rooms cool and lamps rather than overhead lights can also save you up to $15 a month.
And changes like unplugging devices when not in use, switching to energy-efficient LED bulbs, and using a programmable thermostat can lead to huge savings too.
Also, be sure to seal leaks around doors and windows to reduce cooling and heating expenses, and washing clothes in cold water and air-drying them can also help save on electricity.
Bonus money-saving household tip: Create a monthly budget to help you stay on track. Here are a few tips:
1. Write out your goals
Writing down your goals helps you put your budget in perspective and give it meaning. So it’s one of the best money-saving household tips we can give you!
A smart monthly budget is all about helping you achieve the things you want, not just a set of numbers or a means of restricting your spending. Set and write down short- and long-term goals, and include your family if applicable.
These can include anything from buying a new laptop or vacation to sending your child to college without going into debt.
As time goes on, you’ll review and revise goals and budgets, but taking this course will help you stick to the budgeting approach, which ultimately leads to your ability to reach your financial goals faster.
2. Track every expense for a couple of weeks
Before you make any type of line items on your monthly budget, you must analyze precisely where your money is going. Track your spending patterns for a few weeks, keeping and logging every single receipt for both in-person and online spending.
Most people can identify spending patterns and areas where they might want to cut back. It may be especially shocking once you see it written out. So brace yourself!
3. Determine where you’re losing the most money
After you’ve been tracking your finances for a while, you might catch some places where you lose money pretty often. If it’s due to late-night Amazon shopping, what new habits can you begin to keep you from logging on in the first place?
If you have a tendency to spend a set amount every time you visit a particular website or store, then you should try to find ways of visiting less often. What can you do instead?
Sign up for a class, go for a walk, or join a book club to build healthier habits and keep away from the things that tempt you to spend unnecessary money.
4. List your non-essential recurring expenses
Take a look at a couple of months of your bank statements to seek out the expenses that reoccur but aren’t necessarily required. This could be memberships, subscriptions, or automated purchases.
Once you’ve compiled this list, begin to purge. Who knows, you may find that you’ve signed up for Netflix twice under two different accounts and even have three monthly music subscriptions.
5. Calculate your necessities
Your next step is to add up all the expenses you positively can’t live without. This includes things that are the same every month, like a rent payment or mortgage and cell phone bill. This is where you also include items that fluctuate, such as groceries and utilities.
For irregular items, begin by calculating an average: For instance, depending on where you live, maybe your utility bill is double the amount in summer, about $400 a month, as it is in the winter, where it runs roughly $200 monthly. In the monthly budget, you can log that as $300.
6. Create a spot for incidentals
When creating a monthly budget, you’ll also need to factor in infrequent items like restaurants, clothing, travel, repairs, and home decor.
You may prefer the monthly bucket approach: For instance, if you have $3,000 of allowable spending on a credit card that gets paid off each month, if a car repair or out-of-pocket health expense arises that month, and uses up $1,000 of it, then you’ll know that you only have $2,000 remaining on travel, clothing, and entertainment.
Doing this allows you to stay within your overall spending limits without feeling like you have to itemize every category.
7. Automate your bills and savings
Trust us! This will make getting things done effortless. Many mortgage, utility, and other companies allow automatic deduction plans in which they withdraw money directly from a bank account.
Some even offer reduced interest rates or other benefits when using automated payment services. And you can set up the same for your savings account. Simply set up a transfer from a checking account to a savings account at your chosen bank.
To help you out with your monthly budget planner, Amazon has some fantastic options, including THIS one!
Please feel free to let us know in the comments section your thoughts on these money-saving household tips or if you have any of your own you’d like to share with our readers.
And if you found this article helpful, you may want to also read about 8 Eco-Friendly Money-Saving Tips for a Greener Life
