Looking for ways to save money at home this year? You’re not alone. With soaring fuel prices, climbing inflation, and increasing housing costs, many are seeking ways to lower monthly expenses.
Generic advice won’t cut it this time. We’ve all heard the usual tips: skip the coffee shop, track your spending, and limit takeout. Now is the time for innovative strategies that can save you hundreds instead of just a few bucks.
To uncover these impactful ideas, we consulted various experts. Their insights cover everything from budget-friendly landscaping and food savings to home décor tips and energy efficiency through eco-friendly upgrades.
Here’s the best advice they shared.
Ways to Save Money at Home
We’ve categorized the tips into three sections: food savings, energy savings, and household savings.
Food Savings
1. Explore Beyond Grocery Stores
While grocery stores are convenient, they aren’t always the cheapest, especially with prices expected to reach their highest levels since 1980, per USDA forecasts.
Consider ordering groceries from services like Misfits Market or Imperfect Foods. They offer surplus food and ‘ugly’ produce—those oddly shaped or sized items—at reduced prices.
Misfits Market provides a range of organic products and pantry staples at prices up to 40% lower than traditional grocery stores.
2. Buy Directly from Farmers
“Farmers markets often have great deals if you’re flexible,” advises Rachael Mckennon of Milk Glass Home. “Think in terms of categories instead of specifics. For instance, look for any greens rather than a particular type of kale. Stock up on bulk staples like potatoes and onions.”
If you have local farms, consider joining a community-supported agriculture (CSA) program. “Paying upfront for a CSA can yield fresh produce weekly,” says Mckennon. “Check localharvest.org for nearby CSAs.”
3. Properly Store Your Produce
We’ve all lost track of a cucumber or over-purchased blueberries, but with food costs expected to increase by 6.5-7.5% this year, wasting food is costly.
Extend the life of your produce by storing it correctly. “Keep ethylene-producing foods away from sensitive ones,” suggests Holly Eagleson, VP of Marketing at Misfits Market.
Ethylene gas, emitted by certain fruits, can accelerate spoilage. For example, avoid keeping apples with avocados or tomatoes with cucumbers.
4. Revive Produce
If you have excess produce, don’t throw it away. “Freeze chopped herbs in olive oil ice cubes,” suggests Eagleson. “You can also revive wilting veggies: soak root vegetables overnight, give wilted lettuce an ice bath, and rehydrate limp celery in water.”
- Soak root veggies overnight for firmness.
- Ice bath for wilted lettuce for at least an hour.
- Rehydrate celery and asparagus in water for 30 minutes.
- Soak overripe berries in sugar water for delicious syrup.
5. Start Your Own Garden
Consider growing your own fruits and vegetables. “You can cultivate your own produce with minimal effort and expense,” suggests Andrew Porwol, owner of Garden Centre Shopping. Start with easy-to-grow herbs and vegetables that are costly in stores—like swiss chard and green beans.
Energy Savings
6. Assess Your Insulation
With rising fuel prices, it’s crucial to check your home’s insulation. “If your home isn’t insulated properly, heating systems will struggle and cost more,” says James Lloyd, a design consultant at Wunda Group.
Homes can lose up to 25% of heat through the roof, so start there. Lay fiberglass insulation in your attic if needed. Don’t forget to inspect all major systems to ensure your home retains heat effectively.
7. Use Appliances Wisely
Saving energy involves more than just turning off lights. Choosing and using appliances smartly can reduce costs. “Countertop appliances consume less energy than full-sized ones,” says Mckennon. Use a toaster oven instead of a conventional oven, which heats up faster.
When using the oven, batch cook to maximize energy use. Bake multiple items at once to make the most out of preheating.
8. Explore Solar Power
Solar energy is now the cheapest energy source available. Though installation costs can be high, solar panels are becoming more affordable, with financing options available.
If solar panels are out of reach, consider solar-powered lights for your garden. These are widely available and cost-effective.
9. Update Your Heating System
Now might be the time to upgrade from natural gas or oil heating to more efficient systems like radiant floor heating or geothermal heating. “Underfloor heating can be cost-effective and requires little maintenance,” explains Lloyd.
10. Combine Energy-Saving Strategies
Using multiple energy-saving strategies can yield the best results. “Each upgrade enhances comfort and reduces costs,” advises Ian Charters, owner of Handyman Connection of Grapevine. “Sealing gaps in windows can save up to 10% on bills.”
11. Compare Energy Providers
If you have multiple energy suppliers, comparison shopping is wise. “Use sites like Power to Choose to find the best rates,” suggests Shawn Plummer, CEO of The Annuity Expert.
12. Invest in a Smart Thermostat
While smart thermostats may require an initial investment, they quickly pay for themselves through energy savings. “You can save 7-15% on heating and cooling bills,” Plummer notes. Look for rebate programs to offset costs.
Household Savings
13. Rethink Your Landscaping
Traditional landscaping can be costly and resource-intensive. “Consider alternatives to grass that require less water,” suggests landscape designer Sarita Jaccard. You can create beautiful outdoor spaces with native plants and gravel.
14. Stay on Top of Repairs
Postponing small repairs can lead to larger issues later. “Preventative maintenance is key,” says Ed Brancheau, owner of SunnyNest Homes. Simple fixes, such as re-caulking, can save significant money.
15. Reduce Homeowners Insurance Costs
Lower your insurance premiums by increasing deductibles or installing security devices. “Reinforce your home with storm shutters to make it more weather-resistant,” experts advise.
16. Choose Timeless Decor
Opt for timeless pieces rather than trendy items to save in the long run. “Seek quality craftsmanship that lasts,” says Emily McGarvey, director of sustainability at Room & Board.
17. Seek Out Salvage Shops
Salvage shops are growing in popularity and offer great deals on furniture and home goods. These stores often sell gently used, returned, or new items at discount prices.
18. Cancel Unused Subscriptions
Eliminate subscriptions you don’t frequently use. “Review your bank statements to identify and cancel unnecessary services,” says Carter Seuthe, CEO of Credit Summit.
19. Shop Secondhand
Purchasing secondhand items is cost-effective and sustainable. “Thrift stores and platforms like Facebook Marketplace are great for finding deals,” Mckennon suggests.
20. Implement the 30-Day Rule
Apply the 30-day rule for non-essential purchases. Wait 30 days before buying an item. This helps evaluate if you truly need it, reducing impulse spending.
Understanding the 50/30/20 Budget Rule
The 50/30/20 rule, popularized by Senator Elizabeth Warren, suggests allocating 50% of your income to needs, 30% to wants, and 20% to savings or debt repayment.
