Cost of Living Crisis: Smart Ways to Save Money and Lower Your Monthly BillsAugust 25, 2023
Life is getting more expensive all around the world. Electricity bills are sky-high, food costs more than ever before, and millions of people are struggling. There’s no need to panic because this cost-of-living guide is here to help you save money and lower your monthly bills. This will take a huge weight off your shoulders and enable you to live more comfortably.
The World Economic Forum reports that 1 in 4 people are currently struggling with the cost of living. This isn’t good, as it’s leading to many people taking drastic measures to survive, from not using the heating to even trading in their cars.
If you’re one of these people who’s also feeling the squeeze, then it’s highly recommended you take a step back and follow the expert strategies provided below. Also, if you have friends or family who are also struggling, make sure to share this guide with them, too.
Switch to a Solar-Powered Water Heater
Firstly, switch to a solar-powered heated.
You can get your solar-powered heater installed by customsolarandleisure.com. Then, after the installation, you can start to experience benefits such as:
- Lower monthly bills
- Reduced carbon emissions
- A more valuable home
Of course, the most attractive benefit here is lowering your monthly bills. This works because your solar-powered heater will run on solar energy gathered from the sun, which is a free resource. As a result, your monthly water heating bills will drop. Depending on where you live, they might even drop by as much as 80%, so your cost-savings will be extremely high.
Typically, solar-powered water heaters will go on your south-facing roof. They look incredibly modern and stylish, so you also get the added bonus of improving your home’s exterior. Essentially, it’s a win-win.
You’ve more than likely noticed that your monthly fuel bills for your car have gone up, right? This is something that everyone is experiencing around the world, from the US to Europe. Although there’s not much you can do about the actual cost of fuel, there is a solution: drive less.
The general concept here is that you only drive when it’s essential. For instance, if you want to go to the local grocery store that’s only 5 minutes away, you should walk there instead of driving. This way, you get to save on fuel money while boosting your health.
Also, remember to take advantage of public transport. From buses to trains, there are plenty of public transport options.
Cancel Subscriptions You Don’t Need
Consumers spend a crazy average of $133 a month on subscriptions, such as Netflix, Spotify, and Disney+. Although there’s nothing wrong with media subscriptions, you might currently be subscribed to certain platforms that you simply don’t use. For instance, if it’s been a while since you opened Netflix, you should consider canceling it to save up to $20 a month.
Downgrade to a Cheaper Mobile Contract
If you’re spending lots of money on your monthly smartphone bill, consider downgrading to a cheaper contract once your existing one is up. Although you might have to make some sacrifices (such as not having as many call minutes), you’ll be able to save some valuable money.
Fight against the cost-of-living crisis with the help of these top tips. You’ll start to see results in the first month and will be able to ease the stress on your bank account until the cost-of-living crisis ends.