Our spending always goes up during the winter months. Rising energy bills and holiday shopping costs mean that it is hard to keep control over our budget. Here are a few tips to help you save more and use financial support that is available to you.
Shop Around For Good Deals
Research prices offered by other suppliers of your energy, water, internet, and insurance to see if you could get a better deal elsewhere. Ask if other providers offer incentives to switch, such as a discounted rate or a cash bonus. Contact your current provider to tell them that you are considering switching to see if they offer incentives to stay.
Look For Ways To Reduce Energy Usage
Find out how rising energy costs could affect you. Use a drying rack instead of a dryer. Upgrade your home appliances to more recent models with a better energy efficiency rating. Insulate your attic, basement, and exterior walls to keep warmth inside. Turn your appliances off at the wall when you are not using them. Use LED lightbulbs because they create less waste energy. Check if you are charged less for energy usage at night and use high-energy appliances then.
Get To Grips With Your Loans
Create a detailed break-down of all your outstanding loans and debts. Make a schedule for each repayment date. Avoid incurring penalties by making your repayments on time. Find out if you could save money by paying them off sooner. Look at refinancing your mortgage if you need a lump sum of cash quickly. Consider a HELOC (Home Equity Lines of Credit) if you need a certain amount but don’t want to commit to a full loan refinance. Use a HELOC loan calculator to see how much you could borrow against your home for home upgrades. Do this before refinancing to avoid taking out more than you can afford.
Look For Ways To Boost Your Income
Look at freelance job boards to see if you can use your skills to make extra cash. Reach out to freelancers you know and ask where you should start. Sell used or unwanted goods such as appliances, tech, and clothing. Consider taking a part time service job such as a lift driver or delivery driver. Take advantage of seasonal job openings. Look for bonuses for new workers signing up. Look at the contract for your home to see if you can either rent out your spare room or list it on overnight or short-term stay websites.