How to Reduce Expenses in 2020 and Beyond - ECharge Solutions

How to Reduce Expenses in 2020 and Beyond

The bills are getting higher and penalty fees aren’t making things easier. Additionally, products that are used on a daily basis aren’t that affordable. This makes living much harder than it should be. However, some tips and tricks can cut down your spending, so here are the 3 most tips on reducing your household expenses in 2020:

How to Reduce Expenses in 2020 and BeyondChange Habits, Including Diet

Everybody is stuck in a certain routine. Getting up in the morning, going to Starbucks, getting a doughnut along with the coffee, going to work, putting small coins in vending machines, buying lunch, having a stroll here and there, and arriving home.

Oddly enough, a large part of every person’s routine is food. We spend ridiculous amounts of money on small snacks and guilty pleasures. And the funniest thing is: lots of people know it’s bad, but they just can’t stop! So cut to the chase, and stop purchasing snacks. Instead of going to Starbucks, make your coffee at home, or stop drinking it entirely!

This advice may sound ridiculous to some, but I dare you! Try it for a month and see the results. Let’s imagine that each day you purchase 2 cups of coffee that are worth $4 each. At the end of the month, you have spent $240 only for coffee. Instead of giving in to guilty pleasures, put every dollar intended for snacks and fast food in a jar and see how much you will save up at the end of the month.

Cut on Transport Fees

According to the Canadian Automobile Association, driving a vehicle in Canada costs from $8,500 to $13,000 per year. Those numbers can be summed up to spending from $708 to $1083 per month. If you are purchasing a new car, this is a great opportunity to pick one that is fuel-efficient.

Additionally, you can always opt for carpooling, public transport, car-sharing or cycling. Lots of apps make carpooling and sharing very accessible. You might want to consider trying them at least for a month. If you must use a car on a daily basis, make sure that it is always in top shape, by DIY car washing and doing regular checkups.

Regular fixer-uppers are really expensive, so if you notice a problem early on, you might spend a lot less on solving it. Also, you should definitely know how with speeding you actually waste more fuel. With reducing the speed to 10 miles per hour you will save gallons of wasted fuel!

Energy Efficient Windows & Doors

Besides food and transport, a lot of money is spent on utility bills. But luckily, those bills can be reduced and are generally smaller in well- quipped and energy-efficient houses. For instance, homeowners who install energy-efficient windows and doors can cut down electrical spending to 15%.

The reason for this is quite simple. Poorly manufactured windows let cool air pass through in the winter, as well as they let heat enter the house in the summer. Purchasing high-end products might sound expensive at first, but not when you compare how much you will end up saving on utility spending.

When renovating your home, make sure that everything you purchase has Energy Star ratings. From electrical kettles and LED lights to ovens and dishwashers, each appliance you have in the home has a better and more energy-efficient version of it out there. Imagine how much you will save if every appliance or product in the house has an Energy Star.