How to Save Money on Monthly Expenses

Written by Karen Bryan

Are you creating a budget and getting your personal finances in order? When breaking down your monthly expenses, most of us are shocked at how much we pay on bills, food, transport and so on. However, there are a number of different ways in which you can cut back these monthly expenses and provide yourself with extra resources. Here, we are taking you through our top tips on how you can save on your monthly expenses.

Saving Money on Transport

A good way to start reducing your monthly expenses is to look at how much you are spending on transport. For the majority of us, a car is a necessity for both work and pleasure but they can be a big drain on our monthly expenses when you factor in financing the car, petrol and other maintenance work. All of this added up can work out to be thousands every year! One of the first things that you can do is take public transport to work instead. You’ll save lots of money on both fuel and maintenance doing this and for most people, it is actually more convenient as you can miss the horrible rush hour traffic.

However, we do realise that for many people this is not an option and they do require a car. If you are searching for a new car and are keeping your monthly expenses in the back of your mind, then why not look into car leasing providers? Car leasing allows you to essentially rent a new car and after a set amount of time, which is normally between one and two years, you can return the car back to the leasing company. Leasing almost always works out cheaper per month than financing a car and so this is an easy way to cut money from your monthly expenses, especially if you take advantage of great car leasing special offers!

Saving Money on Energy Bills

If you take a look at your outgoing household bills, you will find that energy is one of the biggest cash drainers on your wages. Now, there is lots of new and exciting technology that can you reduce your energy bills and be eco-friendlier at the same time!

To start saving money on your energy bills, take a look at your light bulbs and consider switching them to LEDs. While these are most expensive to begin with, they last for a very long time and are around four times more energy efficient than your standard incandescent bulbs. You should also look at installing a programmable thermostat which will automatically change the heating of your home when you are not there or when asleep so you can save money on your energy bills. Finally, when you are looking to save money, make sure you are unplugging all unused electrical devices as these are constantly using a small amount of electricity that can then cost you a lot more on your energy bills over a long period of time.