As the new year gets underway, recent festivities may have prompted many people to review their spending habits. With additional expenses such as travel, gifts for friends and family, and other seasonal extras associated with the Christmas period, wallets around the nation will undoubtedly be feeling the pinch. To make the transition into the new year a little easier, we have outlined some simple money-saving tips that can help you cut back the cost of many of your everyday essentials.

Save on Utilities

Save money on your utility bills by being mindful of your energy and water usage. You can start by switching to energy-efficient light bulbs around the house as they use up to 90% less energy and have a lifespan that is at least 15 times longer than that of standard light bulbs. It is also good practice to turn off lights and appliances and unplug all chargers and small devices when they are not actively charging or in use, as even in standby mode they can continue consuming small amounts of power.

Showers typically use less water than baths and by installing low-flow showerheads you can further fuel your savings when it comes to water usage. You can also cut down your heating costs by washing clothes in a cooler setting and opting for fuller loads to reduce the frequency of your washing machine usage. 

 

Trim Your Grocery Expenses

Recent figures from Move.org show the average monthly grocery spend in America in 2023 was $415.53 per person. Thankfully, this significant spending can be cut down in the following ways:

 

Deals and discounts: Look out for deals and discounts on staples when doing your weekly shop. For example, laundry detergent or canned goods may be discounted in the clearance section or on offer at ‘two-for-one’. 

• Delivery apps: Save money with grocery delivery apps which can help you avoid impulse purchases and stick to the essentials. With rising fuel prices, the convenience of having your groceries delivered also helps you to save money on gas.
• Buy in Bulk: By buying non-perishable staples like rice, pasta, and canned goods in bulk, you can save money as each unit will cost you less. 

Cut Your Coffee Costs

The rise in coffee-drinking culture means that most people start their day with a cup of joe. With the frequent arrival of new blends and concoctions being created to entice our taste buds, cafes and coffee shops around the nation are the first port of call for many coffee lovers. According to recent figures, men spend almost $1,934 each year on their coffee habit, while women spend nearly $400 more, at $2,327 per year.

 

Instead of forgoing your caffeine hit altogether, you can save money by brewing your own coffee at home.  According to figures published by CNET, you can save up to $736 by making your daily cup of coffee at home. Whether it’s a jar of instant, a French press, a percolator, or a pod machine there are numerous options available to suit your individual tastes and brewing habits.

 

By putting these tips into practice, you’ll soon reap the rewards of a more budget-conscious approach to your everyday spending.