We are living in difficult times not only because of the increase in prices but also because of the consequences of climate change. However, it is possible to readjust our family budget and still save on household expenses.Supermarket, fuel, gas, electricity. These are some of the many products or services that have seen significant increases. And this phenomenon of general increase in the prices of goods and services is called inflationwhat reduces our purchasing power.
Why is savings increasingly important?
At first glance, saving may seem simple. However, if we remind you that your emergency fund must have the equivalent to at least six months of your monthly expensescan you say that you have this value set aside?Build an emergency fund is important to deal with possible unforeseen events that happen to you, namely a sudden and serious illness, unemployment, among others. In this sense, in addition to the emergency fund that must be used in urgent cases, there is still another solution that you should put on the table: the savings account. It is a type of account in which you can deposit amounts defined by you and which earn a certain interest. Savings accounts are divided into term accounts (does not allow withdrawing money before the deadline) and current accounts (you can move the money when you need to). In this way, betting on the saving and changing behavior allows you to have money to pay your expenses and respond to your needs. This is because complicated situations, such as worsening inflation, can shake your life from one day to the next. Having financial support can ease this change.
6 tips to save on household expenses
In a context in which interest rate hikes (Euribor) undermine housing credit, in which we are witnessing significant rises in food, electricity, gas and fuel prices, it is important to focus on the possibility of reducing spending. For example, energy expenditure at home and shopping. Find out how it is possible to be successful and save on household expenses.
Reduce your electricity bill
First, let’s talk about the consumption we have at home. One of them is dependence on electricity. Small gestures can help not only at your level family budget as well as in the energy crisis we are experiencing:Turn off appliances that you are not using; When buying a new appliance, choose gadgets with a good energy efficiency;Bet also on lamps most efficient (LED);Disconnect always the lights when you leave a room;Privigate natural light during the day;Make full loads in washing machines and dishwashers;Avoid using the tumble dryer;Set the temperature of the fridge to about 3ºC and do not exceed -18ºC in the freezer;Invest in solar panels;review the rate who hired. Also read: Attention to the electricity bill adjustment mechanism
Make an economical and sustainable consumption of water
Like electricity, the Water it is essential in our day-to-day and is a resource that has been in short supply. But is possible to reduce or consume sustainably:take showersinstead of immersion baths, and turn off the tap while soaping yourself; Take advantage of the cold shower water to water plants, wash vegetables, flush the toilet;Reduce the amount of water that is released in each discharge in flush placing, for example, a bottle in the warehouse;turn off the faucet while brushing teeth and dishes;Do full loads in the washing machines and dishwashers;Choose water reducers to put on taps.
Decrease gas consumption
Along with electricity and water, the gas is another of the expenses within the house. This is a resource that has suffered a high price increase. How to decrease your consumption?When the meal is almost ready, turn off the gas and let it continue to cook with the accumulated heat;While cooking cover the pan with the lid to avoid energy loss;Prepare all the necessary food and ingredients to avoid having the gas turned on to waste energy while preparing the essentials;Lower the heater temperature and take quick showers; solar panels can be an option for water heating; Finally, review the conditions of your contract and whether it pays to switch to the regulated market.
Review housing credit conditions
With the global economic instability, inflation also triggered the Euribor, the reference rate for loans requested from the bank. This makes, soon after, the monthly installments of home loans with variable rates go up.This is what has happened recently, but it is possible review your conditions if you have a credit for more than two years. O spread this is something that you can renegotiate, as this is a percentage included in the interest you pay to the bank and that has an impact on the monthly payment of the house/apartment. In addition, there are also offers for life insurance on the market with values that do not have such a negative impact on the installment. Also read: How is Euribor calculated and what impact does it have on home loans?
How to reduce fuel costs?
Currently, even fuels have seen a sharp increase in value per liter. Thus, one of the immediate ways of saving is look for gas stations with more affordable prices.There are still other pieces of advice: avoid circulate with unnecessary loaduse the air conditioner sparingly, do not accelerate or brake suddenly and turn off the engine when it is stopped for some time. Likewise, check the tire pressure and have the revisions up to date.
How to save on supermarket household expenses?
Food is a basic need for people’s well-being and health. Going to the supermarket is an economic challenge because, at the moment, we carry less food in the cart and pay more for it.How to decrease your expense in this category? outline a monthly budget;Initially, check what you have at home and don’t let it spoil. This is because letting food spoil is also losing money; Shopping list and organize it by categories (meat, fish, pasta, rice, vegetables, canned goods, cleaning, among others); leaflets and take advantage of promotions;plan meals of the week and purchase consumer goods accordingly;take your bags and don’t always pay for new ones;Consider the price per kilogram and per liter;Try buy in bulk: allows you to buy only the amount you need and reduce packaging waste. Also read: Euribor Simulator: The impact of rising interest rates on home loans