There’s no denying that running a household can be expensive. However, the chances are you’re unknowingly overspending on several things, which could be putting your finances under unnecessary strain. So, if your bank balance has seen better days, now’s the time to take control of your spending habits. One of the easiest and most effective ways to save cash is to pinpoint what your home’s biggest costs are and to find ways of cutting them. Here are three areas where you may be wasting money.

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1. Home insurance

Your home is one your biggest investments, so having insurance really is a necessity. However, did you know that you could be wasting money every single month paying higher rates for unnecessary add ons you don’t really need? Many homeowners make the mistake of paying large amounts for home cover that isn’t suited to their needs. The easiest way to lower your premiums is to compare different insurance policies. While this may not be the most enjoyable task in the world, there are ways to make the process less time consuming and stressful. For example, you can take advantage of independent brokers websites such as Chill Insurance to compare quotes from various cover providers and find the best deal. You may be surprised by how much you can save simply by shopping around.

2. Energy costs

Especially if you live in an older house, you could be wasting a significant amount of money on energy costs. Luckily, there are plenty of simple energy saving measures you can to adopt to address this problem. For example, using thermal lined curtains, draught proofing doors and windows and using a chimney balloon are all relatively inexpensive ways to reduce the amount you pay on your heating bills. If you’re really serious about saving money over the long term, you may want to consider installing loft and wall insulation, adding solar panels to your roof or upgrading to a more energy efficient boiler. To find out where your home’s biggest energy-guzzling areas are, you can enlist the help of a professional technician to carry out an energy audit.

3. Food

Another major household expense is food. However, you don’t necessarily have to sacrifice the things you love to save money. All it takes is to make a few small changes to your shopping and eating habits. For example, choosing long lasting produce, planning your weekly meals, cooking from scratch, buying generic brands and making more meals at home rather than eating out can help you to cut down on wastage and lower your food bills. Knowing how to correctly store your groceries and freezing products while they are still in date can also make your food last longer. While this may take some time getting used to, the payoff will be worth it.

By being aware of household expenses like these, you should be able to overcome your spending downfalls and put money back in your pocket.