Our economy is struggling right now, and unfortunately, it is only forecasted to get worse. This winter may be quite difficult for many, and it is important to be armed with some good tips and knowledge to help persevere during this difficult time.
There are many things to consider to help save money. Among them are bills, holiday spending, and money-saving methods.
Electricity Costs and Big Changes
It is forecasted that electric costs will be the highest they have been in over 25 years. Americans won’t even experience the worst of it, as Europe is being faced with an even more severe financial forecast.
As the months get colder, it is important to consider how best to cut the costs of your electric bill. There are a variety of ways to accomplish this task, among the most substantial to consider is a wood stove. A wood stove can decrease your heating bill by as much as half! This is when compared to any other fuel source.
Small Money-Saving Tricks to Reduce Household Bills
Something to consider to immediately cut down on your bill is to limit your electric use to non-peak hours. Many electric companies have on-peak and non-peak hours, and try to incentivize users to use during non-peak hours by charging them less.
These non-peak hours are usually throughout the day, on holidays, and also over the weekend. For many, this may be difficult because the non-peak hours tend to coincide with the hours you are at work.
Other things to consider to help cut costs are using drapes and curtains on your windows to help limit heat loss. In contrast, open those curtains to allow for natural sunlight and warmth to creep in during the day when the sunlight directly hits those windows.
Other cost-saving changes you can make are lowering the temperature on your water heater and installing aerators on your faucets to help cut down on water usage.
Reducing Holiday Expenses
Although we are trying to cut as many expenses as possible during the winter, it can be difficult during the holiday season when expectations, traditions, and family time lead to more spending.
Hopefully you have budgeted for these events throughout the year, but chances are, extreme inflation has put your budget in an upset. When planning for the holidays, it is time to re-evaluate your budget, and then make a holiday budget with your financial needs in mind.
When doing your holiday shopping, don’t leave it for the last minute. Get it done early. Are you waiting for those Black Friday deals? Remember, they are not always the deal you think. Shop around, price compare, shop early, and look for other sales along the way.
Remember that it is not always how much you spend that is important, but the thought of the gift, and the time spent with the person. Holidays are one of the most expensive times to travel. You may need to cut that holiday trip out this year, and instead plan a family potluck to help reduce expenses. This is the time to remember that the holidays aren’t about gifts but about family.
Armed with these money-saving tips and tricks, you will hopefully be able to persevere through this financially harsh winter. Remember, no matter how small, when combined with many different money-saving aspects, you can save more than you otherwise would have thought.