Money-Saving Tips For Every Room In The House (2024)

Money-Saving Tips For Every Room In The House (1)

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From leaving the lights on in the lounge to spending a little too long in the shower, the small choices we make can have a big impact on our energy bills.

A whopping 36% of us also report using more energy in the winter months, according to The Energy Savings Trust. So as we continue spending more hours than ever in our homes, there’s never been a better time to reassess and work out where you can save energy – and that all-important cash.

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Here’s our room by room guide to how to look after the pennies.

Kitchen

As it’s where you do all of your cooking, as well as plenty of cleaning, the kitchen is a great place to start making money-saving tweaks. The Energy Savings Trust recommends a series of super-simple first steps, like making sure you aren’t boiling more water than you need and trying not to open the oven too often when your food is in there.

If you live in a house share, try cooking together more often – or taking it in turns – instead of separately making dinner. Not only will there be less to do, but it’ll also cut the amount of energy being used each evening.

Money-Saving Tips For Every Room In The House (2)

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You can reduce food costs by planning your meals. Knowing that you have a delicious supper lined up - and that all the ingredients are already in the fridge - should help lower the temptation to order a takeaway.

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Georgina Wilson-Powell, author of Is It Really Green? and founder of sustainable living magazine pebble, has done the maths on one of the most-commonly asked kitchen questions: which is more efficient, the dishwasher or cleaning dirty dishes by hand?

“The dishwasher is the better option, because it uses a lot less water,” she reveals. “It uses about a quarter of the amount of water compared to washing up by hand as when you run a tap, you go through around nine litres of water a minute.

“Run the dishwasher on a full load and on an eco-setting then let the plates dry, rather than doing the drying cycle.”

Living room and bedrooms

Money-Saving Tips For Every Room In The House (3)

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The amount of energy used up by electrical appliances, such as your TV and games consoles, being left on standby really does add up. The Energy Savings Trust estimates that turning them off at the mains can save you up to £35 a year. Making sure lights are turned off when you don’t need them can save you an extra £15 a year, too.

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A surprising way to save cash in the living room and in your bedroom is to think about creating a super cosy vibe without reaching for the thermostat. Turning your heating down by just 1 degree can save 10% of your yearly energy costs, so go for an extra blanket instead.

Draught-proofing your windows and doors will also make your home more pleasant while saving cash, says Wilson-Powell. Doing this can add an extra £35 a year to your growing savings pot.

It’s worth thinking about where the heat in your home comes from too. “If you’ve got hot water cylinder, you can put an insulated jacket round it, which will save another £20 a year,” she says. “And you can put reflective panels behind your radiators, so the heat is reflected back into the room. What you want to do is capture heat and not let it out.”

Bathroom

Money-Saving Tips For Every Room In The House (4)

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Saving energy in the bathroom is all about reducing water usage and you can probably guess the most effective change – yes, it’s making luxurious soaks in the bath a special treat and showering instead.

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“We still go through a lot more water than we think though,” warns Wilson-Powell. “We often run the shower while we’re doing other stuff or waiting for it to get warm. Think about being in the shower for the length of your favourite song. That’s a really good time and it is long enough to wash your hair and everything, but keep the water usage to a minimum.”

Your water usage can also be reduced by making one small purchase: a water hippo. This bag-like device goes into the toilet cistern and cuts down the amount of water used per flush.

Get help with investments

The government’s Green Homes Grant scheme offers up to £5,000 towards bigger changes that will improve how energy efficient your home is, such as better insulation or upgrading heating controls.

It’s not just homeowners who can get help either – if you’re a tenant, Wilson-Powell recommends speaking to your landlord as they can claim the grant and use it to improve the space you rent. Find out more information here.

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Money-Saving Tips For Every Room In The House (2024)

FAQs

How to save $100,000 for a house? ›

It may seem impossible to save so much in a short period of time, but it can be doable with a plan.
  1. Assess Your Current Financial Situation. ...
  2. Set a Clear Savings Goal. ...
  3. Develop a Savings Plan. ...
  4. Cut Back on Expenses. ...
  5. Increase Your Income. ...
  6. Explore Down Payment Assistance Programs. ...
  7. Save Windfalls and Extra Income.

How can I save 20% for my house? ›

How to save for a down payment: 8 ways
  1. Park the savings somewhere you can earn more money. ...
  2. Automate your savings. ...
  3. Explore additional sources of income. ...
  4. Look for down payment assistance programs. ...
  5. Reduce your expenses. ...
  6. Request a raise. ...
  7. Ask for a gift. ...
  8. Reprioritize your savings goals.
May 20, 2024

What are the five ways owning a house can save you money? ›

8 Ways Homeownership Can Save You Money
  • 8 Ways Homeownership Can Save You Money.
  • Stop paying rent.
  • Use low interest equity.
  • Hedge against inflation.
  • Home ownership tax deductions.
  • Save on housing-related costs.
  • Improved credit.
Apr 20, 2022

How much should I have saved for a $300000 house? ›

The down payment needed for a $300,000 house can range from 3% to 20% of the purchase price, which means you'd need to save between $9,000 and $60,000. If you get a conventional loan, that is. You'll need $10,500, or 3.5% of the home price, with a FHA loan.

What house can I afford with $10,000? ›

How Much House Can You Afford?
Monthly Pre-Tax IncomeRemaining Income After Average Monthly Debt PaymentEstimated Home Value
$7,000$6,400$313,000
$8,000$7,400$360,000
$9,000$8,400$416,000
$10,000$9,400$523,000
4 more rows

How to aggressively save for a house? ›

6 ways to save money for a house
  1. Build your budget. Creating a budget is one of the most important steps when setting a financial goal. ...
  2. Downsize your expenses. ...
  3. Pay off debt. ...
  4. Increase the income from your main job. ...
  5. Look for other ways to earn. ...
  6. Plan for the extras.

Where is the best place to park money? ›

CDs, high-yield savings accounts, and money market funds are the best places to keep your cash when it comes to interest rates. Treasury bills currently offer attractive yields at the lowest risk. Learn how they compare in terms of yield, liquidity, and guarantees.

How much should I save each month for a house? ›

Short-Term Savings

If you begin saving 20% of your income each month, you could be in a good position to not only qualify for a loan with a reasonable interest rate, but also to be able to have a sufficient down payment ready. You should be paying close attention to your gross income (vs.

How to get bills down? ›

How to save on water, gas and electricity
  1. Choose paperless billing.
  2. Pay by direct debit.
  3. Use a smart meter.
  4. If you've got older appliances, upgrading to more energy efficient ones could save you money in the long term.
  5. Shower instead of having a bath.
  6. Wash at lower temperatures and use eco cycles to cut your water bill.
Dec 12, 2023

What to say to get your bills lowered? ›

Consider asking about specific deals you might be entitled to—students, military personnel, and veterans are often eligible for certain discounts. And of course—mention you're looking to switch providers. “They usually want to retain you as a customer,” says Roth. “So there is room for negotiation.”

What is the 50 30 20 rule? ›

The 50-30-20 rule recommends putting 50% of your money toward needs, 30% toward wants, and 20% toward savings.

How long does it take to save 100K? ›

How long will it take to save?
Savings GoalIf You Saved $200/monthIf You Saved $400/month
$70,000350 months175 months
$80,000400 months200 months
$90,000450 months225 months
$100,000500 months250 months
7 more rows

Can I afford a house on 100K? ›

With a $100,000 salary, you could potentially afford a house worth between $225,000 to $300,000, depending on your financial situation, credit score, and current market conditions. However, this is a broad range, and your specific circ*mstances will determine where you fall within it.

Is 100K enough to put down on a house? ›

If you want to avoid mortgage insurance by putting 20% down, your down payment should be $100,000. If you plan to put 8% down (the median for first-time homebuyers) it would be $40,000. If you're a first-time homebuyer with an FHA loan and a 3% down requirement, you would need $15,000.

How much money do I need to put down on a $100000 house? ›

Down Payment: Unless you are able to obtain a 0% down payment loan, you'll need some money to afford the down payment on a 100K mortgage loan. The average down payment on a home is 13%, as per the National Association of Realtors®. This works out to $13,000 on a $100,000 home.

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