Inflation has dropped dramatically, but many of us this winter are still looking for ways to reduce household expenses and get our budgets back on track. Here are some ways to do it. None of them will slash your expenses immediately but, like saving for retirement, a little bit here and there adds up to a lot over time.
Appliance TLC
Household appliances perform faithfully until they don’t, and then you’re saddled with repair or replacement costs, both of which have jumped significantly over the past couple of years. In many cases, you can keep both big and small appliances operating efficiently and effectively with simple, regular maintenance.
For instance, vacuuming dust and pet hair off refrigerator coils means your fridge doesn’t have to work as hard to keep food cold while keeping your kettle free of mineral deposits maximizes its performance and reduces the electricity it needs to hit the boiling point.
Check our Homeowner Helpers catalogue for DIY maintenance of common appliances and many other money-saving home upkeep ideas, from regular roof inspections to fixing troublesome cabinet doors and hinges.
Tip
When it’s time to replace an appliance, check performance, durability and energy efficiency ratings in a publication like Consumer Reports. I’ve used it when purchasing a barbecue, lawn tractor, snow blower and a couple of room air conditioners — so far, so good. Consumer Reports ratings are usually available only with a subscription, so remember to cancel the subscription before it renews automatically.
MORE: Get regular maintenance reminders delivered to your inbox
Bottled water
This is an easy money saver: unless your drinking water is
contaminated, which may happen in a private well, don’t buy the bottled stuff. Sure, it’s not that expensive, but if your family goes through 24 bottles in a week, you’re likely spending more than $200 a year for something the City of Ottawa provides at a fraction of the cost.
Bonus:
The city’s water is safe and tastes good thanks to high standards and regular monitoring. What’s more, it doesn’t create plastic waste.
Household energy costs
Would you throw $150 into the garbage can? That’s how much Ontario’s Hydro One says the average Canadian household wastes every year because computers, stereos and other electronic devices continue to consume power even when they are turned off. The solution to “phantom” or “vampire” power costs is simple: plug the devices into a power bar and turn off the bar when the devices aren’t being used. More here.
Spending too much to heat and cool your home? Investing in improved insulation, caulking, and better windows and doors not only saves money in the long run but makes your home more comfortable and can heighten its market value when it’s time to sell. Check rebate and other financial assistance programs offered by governments, utilities and energy suppliers to help defray the cost of energy-efficiency upgrades.
More ways to reduce household expenses by cutting energy use:
- Set the thermostat at 17 to 19 Celsius when you go to bed or leave the house empty. When you’re home and awake, try 21 Celsius to see if your family is comfortable at that slightly lower temperature.
- If you find your home is chilly on cold winter days, you may need to increase the indoor humidity rather than jacking up the thermostat. Learn more here.
- When did you last change your furnace and other HVAC filters? A dirty filter can force your furnace to work harder, cycling on and off more frequently and costing you more to operate. A clogged filter also reduces air quality in your home. Changing filters is usually a simple DIY job.
Bank, credit card and vehicle costs
You could be paying too much on these essential services. The Government of Canada’s bank account, credit card and vehicle lease-or-buy comparison tools reveal some startling differences in what we consumers pay to these businesses. If you’re paying too much, consider switching companies or try negotiating a better deal with your current provider.
Note: The tools may not be right up to date, but they remain a handy guide.
Home repairs the YouTube way
You can reduce household expenses by doing simple home repairs yourself instead of calling in a pro. YouTube is a rich source of free short instructional videos on everything from fixing a leaky faucet to changing a light switch. You may have to check a couple of videos on a subject to find clear, concise instructions, but persistence pays off. Both Lowes and Home Depot offer a wide selection of easy-to-follow DIY videos.
Handle expenses by increasing revenue
Got stuff sitting around the house and garage you no longer use like a snowboard, exercise equipment or toys the kids have outgrown? Try advertising it on Kijiji or Facebook Marketplace — you’d be surprised how easy it is to sell items that will give you extra cash just when your expenses are rising.
For example, last summer I brought in more than $1,000 by selling off things that were gathering dust, including almost-new lumber, a tarpaulin, a hammock, a used but operational swimming pool pump and more. That unexpected revenue came in handy when we were hit with a big car repair bill.
MORE: 15 ways to redecorate on a budget
Subscriptions and more
Review all your subscriptions, paid memberships and software expenses. If you’re not using them, get rid of them. While you’re at it, see if you can find cheaper internet service and cell phone providers or try negotiating your existing contracts: these companies don’t like to lose customers and may come up with a cheaper alternative to what you’re currently paying for.
Food
We all have to eat, but there’s a good chance you can 
do it more cheaply without sacrificing nutrition or the pleasure of good food.
Toronto dietician and Globe & Mail columnist Leslie Beck says frozen berries are not only cheaper than fresh ones, they may also be more nutritious because they are flash frozen right after picking. She also recommends nutritious and relatively affordable canned salmon, tuna and other fish, winter squash and cabbage, and beans, lentils and the like rather than expensive (and less healthy) red meat. These cheaper foods will leave you extra money for fresh lettuce, although you can also buy frozen kale and spinach. More from Beck here.
Other money-saving food strategies include making and sticking strictly to a grocery list (impulse buying can wreak havoc on the best of budgetary intentions) and learning how to keep produce fresh longer.
Final food suggestion: It’s winter now, but spring will return. So, make a note in your January calendar to start thinking about planting a vegetable garden if you don’t already have one. It takes work and a bit of expense at the outset, but homegrown fruits and vegetables taste great, are a source of pride for gardeners and save money.
