6 Household Habits That Are Costing You Money — and What To Do Instead
Written by
Jennifer Taylor
Edited by
Amber Barkley
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Overspending doesn’t just happen outside the house. Some of your standard household habits might be causing you to spend more money than necessary. The good news is, changing these behaviors probably won’t be as hard as you think. Making a few small adjustments can amount to noticeable savings.
This can be an easy way to add more money back into your budget. Here’s a look at six household habits you may want to consider changing to reduce your monthly expenses.
Not Properly Meal Planning
If you tend to go to the grocery store without a solid meal plan in mind, you might be wasting a lot of food.
You’re not alone in this, as 92 billion pounds of food is wasted in the U.S. annually, equal to 145 billion meals, according to Feeding America. This amounts to more than $473 billion in food thrown away each year in the U.S., a total of 38% of all food in the country.
Avoid this by creating a meal plan for the week before going to the store. Be sure to factor in any meals that might be eaten out, decreasing the chance that food will be wasted.
Buying Name-Brand Products
Store-brand products are often markedly similar to their name-brand counterparts. In fact, Consumer Reports conducted a test of 70 store-brand items, and 76% tasted just as good as their name-brand version.
Opting for private-label brands can amount to savings of 5%-72%, according to Consumer Reports. Therefore, if you’re currently buying all — or mostly — name-brand items, changing the way you shop can seriously lower your grocery bill.
Keeping the Thermostat Too Cozy
Setting your thermostat to a preferred temperature is important to feel comfortable in your home. However, setting the heat too warm in the winter and the air conditioning too cold in the summer can add up fast.
The good news is, you don’t have to be uncomfortable to lower your heating and cooling bills. You can save up to 10% a year by turning your thermostat back 7-10 degrees from its normal setting for eight hours per day, according to the U.S. Department of Energy.
Not Sealing Drafty Windows
If your home is drafty, it’s likely letting out cool air in the summer and warm air in the winter. Using caulk and weather strip to seal the cracks is an easy way to lower your energy bills.
The overall cost of this type of project is about $3-$30, according to the U.S. Department of Energy. It should take about an hour or two and result in energy savings of 10%-20%.
Paying for Unused Subscriptions
You may be paying for at least a few subscription services you don’t use. If so, you’re not alone. The average household has 4.1 active subscriptions, according to Self Financial. This costs an average of $40.39 per month.
Carefully auditing your subscriptions can pay off. For example, if you’re able to cancel two subscriptions that cost $10 per month each, you’ll save $240 per year.
Drinking Bottled Water
Ensuring you consume a certain amount of water each day is essential. Specifically, men need around of 100 ounces of water per day, while women require approximately 73 ounces per day, though that varies based on other factors, according to the Cleveland Clinic.
Drinking water straight from the tap isn’t always the healthiest option, but buying bottled water to drink at home can add up over time. For example, a 24-pack of 16.9-fluid-ounce bottles of Aquafina Pure Unflavored water is around $6 at Target — a total of 405.6 fluid ounces.
At this rate, men would go through around one case every four days, and women would finish one approximately every 5.5 days.
A more cost-efficient option, a Brita Water Filter 10-Cup Tahoe Water Pitcher Dispenser is about $40. This is about how much men will pay for one month of water, and about a month-and-half worth of water for women — clearly a sound investment.
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