Tuesday, September 29, 2009

Making Savings in the Home Budget


On Being Thrifty

As a first post in this series, I simply want to outline some of the areas where saving can be made. I will not go into any detail in this post. These ideas were aired today on Radio Kerry and received quite a large response. Hope you find the pointers useful.

So where can the savings to be made in the average home?

1. Economical home cooking. Avoid using the oven it costs a fortune to run, get a wok, a George Foreman Grill and a slow-cooker. Cook from scratch using cheap local ingredients. Get your meat in a butchers, much cheaper than the supermarkets. Let your menus be dictated by what is on offer in the shops. Stop spending a fortune on drinks, soft drinks, and bottled water, use filtered water, tea etc. Savings €1000 to €3000 pa
2. The shopping bill. Buying the right stuff in the right places. Avoiding brand names, buy own brands or generic packaged in both food and household goods – with brand names you are just paying 30 to 60% more for the name and their massive advertising outlay.
3. Internet & Phone savings. Mobile costs are very high make calls lasting seconds on a mobile and have a chat on a land-line. Get package deals for phone and Internet and save money. Saving €200 to €500pa
4. Heating. Insulation, fuel economy etc. Easily save €200 to €400pa
5. Electricity. Saving by fitting CFL bulbs, by using Airtricity or the Gas Board saving 13% on Electricity Board prices. Take showers not baths. Try to avoid using your oven for cooking, get a wok!! Maybe consider using a Monitor to check electricity usage. Saving up to €300pa
6. Car. Careful price watching on petrol and diesel can save 7 to 8% on fuel. Using small local mechanics for service usually saves 30 to 50% but get recommendations to avoid the cowboys.
7. TV. Sky TV charges a whacking great amount for their channel deals. Go Freesat and save money.


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