Running the household is like running an enterprise as it involves managing costs, resources and time. At the beginning of the new financial year here are twelve tips to help you take charge of your expenses and optimize the expense of running the household.

1. Begin by tracking the expenses:
   Most people have no clue to where their earnings are going. The best way to track is by maintaining a journal of expenses for three months. This way you will be able to recognize your expenses and also classify them as regular or occasional.




2. Buy in bulk:
   Draw out a list of what you need to buy, stick to the list and preserve the list over a few months. You can record your buying habits and consumption and you can now identify what you need repeatedly. These items can be purchased in bulk and save you money.




3. Pay your bills on time:
   Delayed payment of bills result in late charges. It is an unnecessary expense which you can very easily control. Paying on time saves you money and a great deal of energy.




4. Check impulse buys:
   Look around your house and see the number of things you purchased on an impulse, things which you did not need really. You will be surprised to see how little of it you use eventually as they were not what you needed in the first place.




5. Buy when completely relaxed:
   Never shop on an empty stomach. You will tend to make poorer decisions and end up buying far too much or unnecessary things; e.g. at the grocer’s, you may be unknowingly buying unnecessary ready-to-eat food which do not give you nutrition.




6. Shop wisely:
   At any store, check all the shelves and not the ones at eye level only as they display the more expensive products which need not necessarily mean more quality. It is a strategy to prompt the consumer to buy the higher priced product.




7. Save on entertainment:
   Instead of watching every new release in the theatre, hire the DVD. Enjoy concerts and exhibitions, they are a new and enriching experience and mostly have no entry fee.




8. Save fuel:
   If your car needs fixing, do it right away as it might be costing you more fuel and using more of your time. Make use of public transport whenever your route allows you. You can also save fuel by grouping your tasks on to one route rather than making separate trips. Choosing to walk to your home branch of the bank instead of driving will save you a lot of fuel over time.




9. Save electricity:
   Replace bulbs by fluorescent, low-energy consuming ones. Get into the habit of switching-off appliances when not in use. An idle microwave oven, computer, fan etc. is like a leaking tap through which precious water and money trickle out.




10. Prevent food spoilage and wastage:
    Take care to store food properly. Avoid cooking in large amounts and even buying food items in large amounts unless you are expecting guests. Food spoilage and wastage account for a significant amount of expense which can be checked by being more alert.




11. Conserve water:
    Water is precious and expensive. Repair all leaking taps. Develop habits which minimize wastage like using a bucket full of water for bathing than running the shower. Find ways to use the ‘grey water’ left from laundry and other domestic activities.




12. Recycle and reuse:
    These are the two excellent age-old methods to maximize household resources practiced through generations. Initiate your children to reuse and collect material for recycle. Apart from the saving, it teaches them to be responsible for protecting the environment by minimizing waste.

And finally, remember to enjoy the savings with your family!

The cistern of this toilet is filled by greywater from the sink above it.

Tags: house hold, household items, household management, household tips, household work, how to save, pay bills, save, save money

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