Tips for Saving Money on Recurring Household Expenses | Cleveland Bradley County Teachers Federal Credit Union

If you are building a household budget, you are likely breaking things into the common categories such as utility bills, transportation, medical insurance, recreation funds and savings. While recreation expenses and savings tend to have some wiggle room, many people assume that their bills and household expenses are going to remain at a fixed amount—but did you know that there are ways you can save there, too?

Though some things may be immovable in your current situation, such as your mortgage or rent payment each month, there are ways you can save on other recurring expenses if you get creative. Below, we will look at a few savings tips that anyone is wise to keep in mind.

Saving on Recurring Expenses in Your Budget

Shop around for (or eliminate) monthly subscription services. When subscription services such as Netflix and Hulu first started picking up steam, they were often touted as a great way to save on cable costs and still get access to entertaining content on the cheap. However, now that there are a plethora of services with their own streaming platforms, signing up for all of them can easily put you in the same price range as a traditional cable subscription! Evaluate what streaming services you have and cut out a few to reduce your monthly subscription expenses.

See about reducing your insurance premiums. While having insurance for your home and car is a must, it can also lead to major monthly costs to keep your belongings protected. Every so often, it is a good idea to shop around for car insurance and home insurance to make sure you are still getting the best rate. You can also look into possible discounts on your current policy such as signing up for a AAA membership or installing a home security system.

Hone in on your utility costs. Heating and cooling your home is another necessity of life, but by being smart about how you are using your energy dollars, you can typically save quite a bit each month. Opening windows when the weather is pleasant can keep things inside your home better temperature-controlled without your thermostat kicking on, and revamping weather sealing around doors and windows can help keep your comfortable air in the home for longer.

When it comes to hitting your savings goals, we are here to help. If you are looking for a new savings account or budgeting strategy, contact us today to see where our services fit in.