Most people when they?re budgeting look at ways to lower their outgoings, such as on petrol, food and non-essential items. There are a lot of things within your home though which you need to look at which can not only help you reduce your outgoings, but also protect you against nasty surprises and perhaps even earn you money.
Look at what you have in your home. Is there anything you don?t need that you can sell to raise spare cash? Online auction sites can find a new home for most items, including large items like furniture, and things like clothes. Get your home and current situation to work for you.
The biggest thing you need to remember is that if you get caught out, things in your house can end up creating a big expense for you, so you need to be prepared. Have money in your budget set aside for saving up for emergencies or new items. Try and calculate what the costs are likely to be. For example, what if your boiler breaks? How much is a new oven? Broken furniture can be repaired and made to last, but only for so long. Additionally make sure your insurance really covers everything that might happen in your home.
Most personal finance websites and advisors will tell you to shop around for your bills and insurance, and this is a great way to save money. However, depending on how tight you budget is you might also need to consider changing your behaviour as well as your provider. Do you leave appliances plugged in and on constantly? Do you really need to have your microwave permanently switched on or can you just plug it in when you use it? You can save over a pound a week doing this, and while this might not sound like much it will add up, particularly when combined with other money saving practices, like using a cooler wash in your washing machine, and turning lights off when you leave a room.
Homes are expensive by their very nature, but you don?t want it to become a burden. Your relationship with your house is important ? it should be a relaxing place, even if you?re trying to budget or having financial difficulties. Decorating and improving your home is obviously one of the first things crossed off the list if you?re trying to save or pay off debts, but you can still refresh your home with minimal cost if needs be. Painting old furniture gives a face lift, and if your items are a bit shabby then turn it into a design feature and create a rustic look with furniture. Decopage on furniture is a practically free way to brighten up items ? all you need is some old magazines and some varnish.
Source: http://www.frugalfinance.co.uk/your-budget-and-your-home-things-you-need-to-think-about/
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