How to get control over your home budget?

How to get control over your home budget?

Over 40 percent of Poles strongly agree that saving requires much effort. Such is the result of a survey carried out by MillwardBrown on behalf of the KRUK Group. The house budget has often a one basic drawback. It is limited and often too low in comparison to all needs of the household members. What steps should be taken to prevent exceeding the budget or even save some money? 

Planning of your home budget

Often shopping decisions are made spontaneously and we don’t put much attention to analysing our all monthly spending. We take advantage of sales and special offers without consideration.

Sometimes some unexpected failures take place and repairs are costly. What should you do to take control of your budget and secure yourself against unexpected events? We should plan our budget in advance and try saving every little bit. As a result, we will have a stronger sense of safety in case of unexpected costly events. 

Our allies in taming the bills will be a sheet of paper and pen or spreadsheet on your PC. You can also use a special and handy calculator of home budget or calculator of expenses which are available on the official website of KRUK S.A. Before we start spending our money, we should first consider what amount and on what purposes we can afford to spend in a given month. Let’s write down your permanent commitments. This will enable us to check how much money is left for other expenses. We should spend it in the most reasonable way. 

– day-to-day ordering dinner for one person each time costs about 15 zlotys. For this money you can prepare a tasty dinner for your family. A sandwich from a salesman who visits our office costs about 5 zlotys. Just think how many sandwiches you could make at home for this amount of money – advises Agnieszka Salach from the KRUK Group. 

By sticking to simple rules we can save even several hundred zlotys per month. Annually this can be a considerable amount of money which will constitute security for the future. What else can we do to save some money?

Go against the flow 

Electricity bills often constitute a substantial cost for the family budget. In order to reduce them, it is worth studying offers of available suppliers and choosing the best one. We can save even 20-30 zlotys per month. This can amount even to PLN 240-360 per annum. You can use the money for the purchase of energy saving bulbs which will result in yet more savings.

If you prepare meals on a hob, then cook the smallest possible amounts and use lids. You may save even 15 percent of electricity. Regularly remove scale from the electric kettle and boil only the amount of water that is really needed. Thanks to that your kettle can consume even up to 50 percent less electricity. A washing machine witch a half empty drum means loss of much water, electricity and washing powder – which in the end means losing money. That is why you should wash only if the washing machine can be fully loaded. And finally the most important thing – always unplug the electric devices that you are not using now. If you don’t, then you will consume even 45 percent more electricity.

Don’t waste water 

Does water freely run from the tap when you brush your teeth? Together with the water you lose money. Using flowing tap water can waste even 9 litres per minute. Therefore, when doing this activity it is worth closing the tap – in this way you will not only take care of your home budget but also of the natural environment. The same applies to washing up. Instead of washing it under running water, pour the water into the sink, place your dishes there and then wash them. You will save half of the water needed for washing up. Using a dishwasher is also a good way of saving but, similarly as with the washing machine, turn it on only if it is full. Install tap aerators – they will allow reducing the amount of used water from 15 to 7 litres per minute. 

Make a shopping list

Buy only the things that you really need. Before buying food, make a shopping list. This will help you avoid temptations. Also do some research which shop in your neighbourhood offers your favourite products at best prices. You should also regularly check promotional newsletters - they will provide you with information on discounts which will help you make substantial savings. It is worth buying shelf-stable food like groats or rice in bigger packages. You will surely use them before expiration date, and you can be sure that the price will be lower than for the same amounts in smaller packages. 

A penny saved is a penny earned

– Saving is like sport. To achieve good results you need to be patient, determined and consistent. If after one week we stop taking a closer look at our spending, then we won’t get the results. It’s like we stopped our running sessions just after one week. In such case we can forget about completing a marathon. We won’t earn a fortune at once, but day by day each small amount will increase our savings - summarises Agnieszka Salach from the KRUK Group.

Therefore to take tame our expenses, we need to be patient and make the new rules our new habits. Surely at the beginning it won’t be easy, but it’s worth giving a try. 

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