According to Nationwide, property prices in the UK rose by an impressive 3.9% year-on-year during October. This continues the trend for prosperity in the market, with values continuing to soar and property value having risen by 0.6% on September.
With the cost of sourcing and procuring property rising, it is important that home-owners adopt a proactive approach to reducing their cost of living. This can help to develop a frugal lifestyle and create savings that can be used for future moves or home-improvement.
3 ways to save money as a home-owner
With this in mind, here are three purposeful and easy to implement ideas that can reduce the cost of living: –
Develop basic maintenance and gardening skills
Independence is one of the best ways of saving money around the home, as it enables you to handle basic maintenance tasks independently without the need for costly external assistance. All this will require is a willingness to learn and invest up-front in the necessary tools to complete the job. On a final note, be sure to understand limitations and do not commit to technical tasks that demand professional guidance or expertise.
Reduce recurring living expenses
Your recurring living expenses can often be the most financially debilitating, especially when you consider essential costs such as food and drink. It is therefore imperative to reduce these wherever possible, initially by seeking out real-time promotions online or use paper-based coupons that are traditionally published in newspapers and magazines. It is also important to adhere to a carefully organised and pre-prepared shopping list, as this minimises the risk of making costly impulse buys that can drain your budget.
Take control of your utilities and energy consumption
On a final note, it is important to work on hard on taking control of your energy consumption and minimising your utility bills. This will not only help you to save money on a monthly and annual basis, but it will also lower your carbon footprint and contribute towards a healthy, natural environment. You can achieve through several ways, but one of the best in the modern age is to invest in a smart technology hub that can control thermostats in real-time and minimise the amount of artificial heat generated.
