Your home is your castle, but it can sometimes feel more like a money pit. Fortunately, there are plenty of things you can do to reduce home-related spending. You can save money at home by making a budget, cutting back on utility usage, cooking and eating at home and canceling unwanted subscriptions. A few of the following 20 ways to save money at home require some upfront expense, but the investment will pay off in time.
1. Make a Budget
Go over your income and monthly spending to identify places where you can cut back. Some home-related expenses are essentials, like rent or your mortgage. Others have more wiggle room, like groceries. Creating a budget can reveal ways to save on all of them. Be sure to track your actual expenses and adjust your budget as needed.
2. Say "So Long" to Disposables
The cost of throwaway household items like paper napkins, single-use water bottles, disposable dryer sheets and plastic bags can really add up. Swap them out for reusable household products such as dryer balls, cleaning rags, cloth napkins and refillable water bottles.
3. Perform Regular Home Maintenance
Tasks such as changing furnace filters regularly, cleaning your rain gutters and checking your roof for leaks help keep your home's systems running efficiently and avoid costly breakdowns or repairs. Reduce the need to hire pricey professionals by learning to tackle small home maintenance and repair jobs yourself. You can find how-to videos online or take workshops at home improvement stores.
4. Meal Plan
Cook at home instead of going out or ordering takeout. Brown-bag your lunch at work. When you do go out to eat, minimize restaurant spending by getting lunch instead of dinner and skipping add-ons like appetizers, drinks and desserts.
Check for sales and coupons before heading to the supermarket and plan your weekly menu around foods that are on sale. Shop with a grocery list in hand so you're less likely to fall prey to impulse spending.
5. Decrease Food Waste
Avoid food waste by working leftovers into your menu plan. Take leftover lasagna to work for lunch the next day or use last night's rice for a stir-fry dinner.
If you've got fruits and vegetables on the verge of spoiling, wash them and lay them flat in freezer bags in your freezer. You can pull them out for smoothies or recipes, and it decreases the need to buy more down the road.
Learn more >> How to Save Money on Groceries
6. Cancel Unused Subscriptions
Check your credit card statements for gym memberships, streaming services, publications and other subscriptions you've forgotten about or aren't using, and cancel them. Experian BillFixer™ can help. In addition to canceling unwanted subscriptions for you, BillFixer can negotiate lower prices on the subscriptions you do want, such as cable, cellphone, internet and satellite radio services.
Learn more >> How to Manage Your Monthly Subscriptions
7. Do Your Laundry in Cold Water and Avoid the Dryer
Unless items need disinfecting (like sheets and towels after an illness) a cold-water wash saves money—plus your clothes will last longer.
When it's practical to do so, hanging your laundry out to dry instead of using the dryer not only saves energy, but also makes your clothes smell good. If you don't have room for a clothesline outside, try hanging one in your basement or garage.
8. Reduce Energy Waste
Turning the thermostat seven to 10 degrees above or below its normal setting for eight hours a day can save you 10% annually on heating and cooling costs, according to the U.S. Department of Energy. Set your thermostat higher or lower when you're away from home, and program it to bring your house to a comfortable temperature before you return.
Items that are plugged in still draw standby power even when turned off. To make savings simple, plug appliances into surge protector strips. You'll be able to quickly turn off several appliances at once and use less electricity.
Older appliances can be major energy wasters, but they're expensive upfront. Rebates can make new appliances more affordable. Visit the Energy Star Rebate Finder to find special offers and rebates on Energy Star-certified appliances ranging from TV sets and ceiling fans to refrigerators and air conditioners.
9. Seal Energy Leaks
Insulation will keep your home cooler in summer and warmer in winter so you don't have to turn on the heat or air conditioning as often. You can install many types of insulation yourself.
Check for drafts by holding a lighted match or candle near window and door frames. Close any gaps you find with affordable DIY products such as caulk or weatherstripping tape.
You may qualify for federal tax credits of up to $3,200 for energy-efficient home upgrades such as adding insulation, replacing windows, or purchasing water heaters or heating and cooling systems
10. Landscape Smartly
Set your sprinklers to go on early in the morning or late at night. You'll reduce evaporation and give water a chance to sink into your lawn. Alternatively, you can install low-flow sprinkler heads or drip irrigation to save water.
In many parts of the country, you can get rebates for replacing lawns with landscaping that uses less water. Check with your city, county or local water utility provider.
You can even collect wastewater to benefit your plants. Set up a rain barrel to capture rainwater or put a bucket in the shower to gather the runoff from your rinse-off. Use the water you collect for your plants.
11. Limit Water Waste
It's counterintuitive, but hand-washing dishes can use as much as 20 gallons of water. Dishwashers that are Energy Star-certified only use about 3.5 gallons per load. Scrape food scraps off plates instead of rinsing and save even more water; modern dishwashers clean better when dishes aren't pre-rinsed.
If you must wash smaller loads of dishes or laundry, be sure to choose the appropriate setting to reduce water use.
Leaky appliances may not be noticeable, and can lead to large amounts of water waste. You can test for toilet leaks, for example, by putting a few drops of food coloring in the tank. Wait 15 minutes; if the color shows up in the toilet bowl, there is a leak.
If your faucets, showerheads or toilets were manufactured before 1995, replacing them with newer models can cut your water use by 40% to 60%, the Department of Energy reports.
Set an alarm or timer so you don't lose track of time in the shower. Save even more water by turning the water off while you soap up.
12. Reduce Extraneous Purchases
Rent movies or borrow books from the library and save on streaming services and subscriptions. Some libraries also let you check out appliances, musical instruments, tools and other items.
Whether you need dog food or a new dining room table, you can probably find it in a buy-nothing group. Find local groups at BuyNothingProject.org or search local social media. You can join the groups for free and post unwanted items to give away, or request things you need that other members may have.
When you must buy, consider second hand. Shopping at your local thrift store, consignment store, Habitat for Humanity store, eBay, Craigslist, Facebook Marketplace or NextDoor is the next best thing to getting home goods for free. You can often find high-quality used furniture, dishware, appliances, décor, tools and garden supplies for significantly less than new.
13. Sign Up for a Family Cellphone Plan
Even if your family is spread across the country, putting everyone on one cell plan can save money. Some providers even let you add friends to a family plan.
14. Use Shopping Apps or Rewards Credit Cards
Active Junky, Dollar Dig and Rakuten are among the many apps that reward you with cash back for shopping. Create a free account and sign in before you shop; you'll receive a percentage of your spending as cash back.
Consider applying for a rewards credit card that allows you to earn cash back, points or miles for spending you're already doing, such as groceries and gas. Just avoid the temptation to buy something simply to earn additional rewards.
15. Rent Out a Room in Your Home
Sharing space with someone else reduces your housing costs. You'll see even more savings if you split the utility bill with your roommate or tenant.
You can also do something similar with your car, especially if you work remotely and don't drive a lot.
16. Sell Unnecessary Stuff
The more stuff you have sitting around, the longer it takes to clean your home and the higher your costs for maintaining it. Go through your closets, cabinets and basement and evaluate whether you truly need those three old tennis rackets.
Anything you don't need can be sold at a garage sale or online, freeing up both mental and physical space.
17. Negotiate With Your Landlord
Depending on rental supply and demand in your area, your landlord may be willing to bargain. See if signing a longer lease, negotiating your existing lease or providing handyman services for the building could reduce your rent.
18. Refinance Your Mortgage
If interest rates have dropped since you bought your home, refinancing your mortgage to a new loan with a lower interest rate could put more money in your wallet. Refinancing may make sense if you plan to stay in the home five years or more and if closing costs for the new loan won't cancel out your savings.
19. Downsize
Although this can vary based on home prices and interest rates, moving to a smaller home could lower your monthly mortgage expenses and utility bills. Trading a house for a condominium can reduce the cost (and hassle) of lawn care, swimming pool maintenance and pest control.
Downsizing may allow you to move closer to work or entertainment that you'd otherwise travel to access.
20. Find Savings on Insurance
You may be able to reduce your home or auto insurance premiums by increasing your deductible or taking advantage of discounts, such as price breaks for bundling coverage. Shopping around for insurance every year and comparing quotes is another smart move that could help you find the same coverage at a lower price.
The Bottom Line
Maintaining good credit is another way to save money at home. Whether you're planning to refinance your mortgage or apply for a cash back credit card, a good credit score can help you qualify for lower interest rates.
Before applying for credit, check your credit score and credit report to see where you stand. Good financial habits such as paying bills on time, minimizing credit utilization and paying down debt can help boost your credit score, potentially reducing the cost of borrowing.