Lifestyle

How to save money at home

Everyone saves money for different reasons – some people save money to spend on luxury items, while others save money to gain a sense of financial stability. Every little penny counts and once you get used to the habit of saving, you’ll be surprised by how much money you’ve saved at the end of the year! If you want to spare a few bucks, here are a few ways on how to save money at home!

Create a weekly budget plan

While it may seem stressful to limit your finances on a weekly basis, having a budget plan helps to keep you in check and avoid overspending on frivolous matters. First, write down your total monthly income, then divide the money into different categories, such as groceries, bills, transport and personal spending. You can allow for some flexibility in your weekly budget plan, but try to stick to your budget as often as possible.

Think before you buy

Hong Kongers are renowned for their shopping habits - although buying new things is always fun and exciting, you should think twice before buying new things. For example, instead of buying a new toy that your child will dump in the corner after a few days, set up a toy renting system with your family friends so that your children can play with new toys without increasing the amount of junk at home.



Adopt an energy-saving plan

Luckily electricity is relatively cheap in Hong Kong compared to other countries, but in the summer the air-conditioning fees can take a toll on your finances. Instead of spending your whole weekend at home, play with your children outdoors or shop around in a mall.

Make your own coffee

Starbucks may provide an interesting range of frappucinos and blended drinks, but you can save a large amount of money by brewing your own coffee instead of buying takeaway coffee. Other than saving money, homemade coffee is higher in quality depending on the coffee beans and coffee machine.

Eat out once a week only

Although eating out saves time and provides a wider range of cuisine choices, eating out on a daily basis is expensive and bad for your health. If you don’t have time to cook on weekdays, try to prepare your weekday meals during the weekends to save time and money.