Affordable Living: How Homeowners Can Save Money During the Cost of Living Crisis

Dear Aunty Davies,

I’m feeling crushed by the cost of living these days. I’m a homeowner and I’m finding it increasingly difficult to make ends meet. I can barely afford to pay my mortgage and I’m worried that at this rate, I’ll soon be unable to keep up with my bills. Is there any way I can save money and still keep up with the cost of living?

Sincerely,

Nervy in N4

Dear Nervous in North London,

Oh sweetheart – you’re not alone. The rising costs of energy and contributions are weighing heavy on many of our (lighter, dustier) wallets. Budgeting can be a trying concept for many of us. But never fear, Aunty Davies is here! Take it from a seasoned property pro. With just a handful of my tips for saving money at home, you won’t need to choose between heating and eating come winter. You’ll be cutting back on those pesky household bills, without having to resort to a stroll around the empty kitchen table for your Bank Holiday weekend. So stop fretting dearest. With these simple tips and tricks, you can save money at home without sacrificing your ever-fabulous lifestyle.

Got in a rut? Make the cuts!

First of all, nervous Pervis, it’s important to remember that the cost of living is never static. Prices constantly fluctuate, so it’s important to stay current on the latest news and trends. Try to anticipate when prices will go up and down, and adjust your spending accordingly. This is especially important when it comes to your mortgage. Make sure you’re aware of any fluctuations in the interest rate, and adjust your payments accordingly. Then, the next step to saving money at home is to create a snazzy little budget that outlines your expected expenses. Coloured gel pens help with this if you’re not a spreadsheet kind of chap. Take a good hard look at your current outgoings and determine which expenses are necessary and which ones could be cut. Do take a deep breath before you launch into this step, and remember there’s always couples therapy if you’re doing it with a partner. While you might love those satin leopard print sheets currently on sale, are they worth becoming freshly single over?

The solution’s in your ablutions

There are fewer pleasures in life so simple as taking a long, hot bath while your towels heat and fluff up in the tumble dryer ready for you to swaddle yourself in afterwards; like a new born baby blinking into the mirror. Well, if you’re lucky enough to have a tumble dryer, it’s time to stop using it (so much). Running a tumble dryer can be expensive and wasteful. So I’d recommend skipping it where possible. When you get round to that laundry mountain, set the spin setting on the washing machine to wring out as much water as possible. If you simply must use your hallowed tumble dryer, select the lowest heat setting available. Otherwise, look into investing in a good clothes-airer to save energy and space and embrace a clothesline on dry windy days. Now while I wouldn’t normally recommend washing less. It is still worth taking shorter showers and turning off the taps when brushing your pearly whites. Another money-saving tip from yours truly is to wash your hair the night before: add some serum while still wet and leave it to dry overnight. This goes a long way to combat frizz too, should you be worried about bed hair.

Embrace your inner coupon queen

You know who really wants you? Who really understands your deepest wants and every whim? Supermarkets (via algorithms). The call of the daily deal is still strong, and they need you and your loyalty. But I give you the aisle pass here to shop around, as it were, and find the very best deals. You can get all kinds of money-off deals and discounts if you sign up with the whole smorgasbord of supermarkets, and download those slippery little coupons right onto your phone for ease. Buying in bulk will also help ease the old wallet strain. Before lugging it all back home to do some impressive batch cooking for you and the family. Another little trick is to fill up that online trolley, then RUN AWAY and click off. Those online retailers will come knocking (via email) begging you to rethink, usually with a healthy discount or two. Big batch chef’s kiss.

Low on energy? Good!

While self-awareness is a sexy quality to own. Another desirable characteristic these days is energy usage awareness. That’s right. Get temperatures racing by checking that Smart meter regularly. Investing in energy-efficient appliances and buying energy-saving lightbulbs can significantly reduce your energy costs. While enticingly unplugging electronics when they are not in use and turning off lights when you’re not in a room can also help save energy. This will also go a long way to enhancing that brooding-in-the-darkness sex appeal. For more alluring tips, take a look at this guide to conserving energy written by my experienced real estate friends at Davies and Davies. Lovely bunch of chaps over there, eh?

Netflix and kill (your subscriptions)

I know how it goes. Your favourite braindead reality show is on Amazon Prime. Your not-to-be-missed Royal doc is on Netflix. That viral crime show is on Apple TV and your friends are raving about some weird cartoon on some streaming service you’ve never even heard of that costs £12 a day unless, you’re a member of a cult in Hastings. It’s exhausting, confusing and most of all EXPENSIVE. That’s not even mentioning your accidental monthly subscription to an astrology app on your phone and your Spotify account that’s inexplicably getting higher by the minute with each Beyonce track you sing along to. How about trying a digital entertainment detox and rediscovering all those free options like the carefree 90’s child you once knew. Try the library again and peruse the shelves for plant care books? Or some viral TikTok lit to keep up with the kids. How about going for a walk (novel!) or a sunny bike ride with your beau? Much better than Netflix and (horrifically loud) snore.

With just a little pre-planning, competitive fast showering and mindful online spending. You can save money from the comfort of your sofa/bathroom. We’d also advise looking into government programs like energy assistance, food stamps, and other assistance. Additionally, you can look into tax credits and deductions to help offset the cost of living. This can be especially helpful if you’re a low-income homeowner.

By the light of an energy-saving bulb,

Aunty Davies

It’s also important to think outside the box when it comes to saving money. For example, consider bartering with friends and neighbours. You can trade goods and services with each other and save money in the process. You can even start a “time bank” where everyone puts in equal hours doing each other’s chores or errands. This can be a great way to save money and build relationships with your neighbours at the same time.

Please note that all content contained within our website is for informational purposes only. You should not construe any such information or other material as legal, tax, investment, financial, or other advice. All Content on this site is information of a general nature and does not address the circumstances of any particular individual or entity. We advise seeking professional advice from a legal, financial, or other professional.

Contact us:

alex@daviesdavies.co.uk – Lettings Director (contact for lettings and property management)

mark@daviesdavies.co.uk – Sales Director (contact for sales, new homes and chartered surveying)

020 3820 2492

Davies & Davies Estate Agents, 85 Stroud Green Road, London, N4 3EG

Article & images by Barefaced Studios

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