11 easy household tips to help you save money and fight inflation (2024)

11 easy household tips to help you save money and fight inflation (1)

With the soaring costs of living and energy prices, many households are looking at ways to stretch their budgets. Inflation in the U.S. was still quite high in April at 8.3%, according to The Wall Street Journal and gas prices have hit their highest national average ever at $4.598, according to AAA.

So what can we do to fight inflation and rising prices on everything from gas to groceries? Ranging from 9 tips to make your food last longer to tips to save on energy bills, we all want to know how to save money.

Luckily, there are some clever ways to cut costs around the house to make things more manageable. So here are 11 household tips to save you money.

If you're worried about your energy bills soaring this summer, check out 10 ways to save energy this summer and lower your bills. While you're at it, take a look at these 9 ways you could be wasting water and not know it. Also, these are 5 tips to organize your fridge and make food last longer.

1. Make your own household cleaners

11 easy household tips to help you save money and fight inflation (2)

If you have a stash of store-bought cleaners, make your own and save money. In fact, you can easily make your own cleaning products using household items. Things like white vinegar, baking soda and lemon juice are common, natural cleaners. Simply mix a solution of white vinegar, baking soda, dish soap and water in a spray bottle, and there’s your multipurpose cleaner!

What’s more, this is far cheaper than brand name cleaners. Find out what makes baking soda and vinegar so good at cleaning and the 10 things you didn’t know you could clean with baking soda for more tips.

2. Hang-dry laundry

11 easy household tips to help you save money and fight inflation (3)

It may be convenient to have dry laundry in minutes, but your dryer is costing you electricity. Hang-dry your laundry in the backyard or balcony, or if you lack space, invest in a clothes horse drying rack like this Birdrock Home Folding Steel Clothes Drying Rack ($72, Amazon), which is space-saving. It may take longer to dry but will save you cash.

3. Cut down on bottled water

11 easy household tips to help you save money and fight inflation (4)

If you stock up on bottled water a week, it can all add up in the long-run. Invest in a quality water filter pitcher that will filter your tap water. It's cheaper over time, and it's better for the environment, too. There are many options available, but we recommend ZeroWater 20 Cup Ready-Pour 5-Stage Water Filter Pitcher ($29, Amazon). Make sure the water filter pitcher is NSF certified and BPA free. This will be cheaper than buying bottled water, and more eco-friendly.

4. Use microfiber cloths not paper towels

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If you tend to go through paper towels when cleaning, use microfiber cloths instead. Microfiber cloths such as these Amazon Basics Microfiber Cleaning Cloths ($12, Amazon), are non-abrasive, washable and will save you money. Plus, there will be less wastage than paper towels, making it more eco-friendly.

5. Switch to smart lights

Save on electricity bills and invest in the best smart light bulbs for your home. Smart lights are much cheaper to run, as they use LEDs rather than the more costly incandescent and halogen light bulbs, which we focus on in our light bulb guide. You can set timers and schedules for each room, so you’ll never forget to turn off the lights. Plus, you can even sync them with your other best smart home devices. This will help save money and energy, not to mention offer convenience.

6. Repurpose furniture instead of buying new

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If you have outdated furniture but don’t want to buy new, why not give it a makeover? By restoring or repainting old furniture, you can give them a new lease of life without breaking the budget. If you don’t want to splash out on a new kitchen, you can learn how to paint kitchen cabinets to transform them, or learn how to paint a room like a pro and save money on a decorator.

7. Seal the gaps

11 easy household tips to help you save money and fight inflation (8)

Inspect windows and doorways for any gaps that will let air escape, and block with caulking or weather-stripping. Losing heat and air conditioning through such gaps will cost us a fortune on heating or AC bills. In addition, keep drafts out by knowing how to insulate your windows, or use a simple draft stopper to banish chills from doors and windows.

8. Buy rechargeable batteries

11 easy household tips to help you save money and fight inflation (9)

Be it electronic gadgets or children’s toys, it’s easy to go through tons of batteries on a regular basis. Make the switch to rechargeable batteries rather than constantly buying new ones. There are many quality battery chargers to handle any type of battery, such as this Energizer Rechargeable AA and AAA Battery Charger ($17, Amazon). This will save you money in the long run; plus, you won’t have to worry about disposing them.

9. Set your dishwasher to eco mode

11 easy household tips to help you save money and fight inflation (10)

Most dishwashers or washing machines have an eco mode or power saving function to save energy. This mode will give you the best cleaning power at a lower cost, saving you money on energy bills. If you're after an upgrade, check out the best dishwashers for more eco-friendly options.

10. Switch to cloth napkins

11 easy household tips to help you save money and fight inflation (11)

Instead of using paper towels at mealtimes, cloth napkins will save you money (and wastage) in the long-run. Similar to using microfiber cloths for cleaning, cotton napkins can be washed and reused. Plus, they come in different colors like these Ruvanti Multi Color Cloth Napkins 12 Pack ($20, Amazon), which are much more attractive than boring paper towels.

11. Adjust your thermostat

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Simply turning up your thermostat by one or two degrees during the summer can save you on your energy bill. You can also invest in one of the best smart thermostats to set a desired temperature while you're away, and save substantial money on your bills. If you don’t have central air conditioning but still want to save money on your cooling bill this summer, check out thebest smart air conditioners.

If you want more money-saving tips check out, tips to save on energy bills and 15 water saving tips, to reduce your usage. Also, this is the cheapest time to do your laundry and these are 5 ways your smart home can save you money. Also, what is an Energy Star rating and how can it save you money? We also have guides on how to make your old iPhone last longer and how to save energy this summer.

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11 easy household tips to help you save money and fight inflation (13)

Cynthia Lawrence

Content Editor, Homes

As the Homes Content Editor, Cynthia Lawrence covers all things homes, interior decorating, and garden-related. She has a wealth of editorial experience testing the latest, ‘must-have’ home appliances, writing buying guides and the handy ‘how to’ features.

Her work has been published in various titles including, T3, Top Ten Reviews, Ideal Home, Real Homes, Livingetc. and House Beautiful, amongst many.

With a rather unhealthy obsession for all things homes and interiors, she also has an interior design blog for style inspiration and savvy storage solutions (get rid of that clutter!). When she’s not testing cool products, she’ll be searching online for more decor ideas to spruce up her family home or looking for a great bargain!

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    11 easy household tips to help you save money and fight inflation (2024)

    FAQs

    How can I save money and fight inflation? ›

    Five tips for protecting your money during high inflation
    1. In times of inflation, prices increase and the value of currency decreases.
    2. Keep the money you set aside for the future in an account that earns interest.
    3. Identify expenses that can be trimmed by tracking your spending.
    4. Focus on paying down variable rate loans.

    What is the 10 savings rule? ›

    Key Takeaways:

    The 60/30/10 budgeting method says you should put 60% of your monthly income toward your needs, 30% towards your wants and 10% towards your savings. It's trending as an alternative to the longer-standing 50/30/20 method. Experts warn that putting just 10% of your income into savings may not be enough.

    How to save $10,000 in a year? ›

    6 steps to save $10,000 in a year
    1. Evaluate income and expenses. To make room for saving, you'll need a meticulous budget that outlines all your sources of income and all your expenditures. ...
    2. Make an actionable savings plan. ...
    3. Cut unnecessary expenses. ...
    4. Increase your income. ...
    5. Avoid new debt. ...
    6. Invest wisely.
    Apr 2, 2024

    What is the 30 day rule? ›

    The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

    What not to do during inflation? ›

    Don't Do These 4 Things When There's High Inflation
    • Panicking.
    • Pulling your money out of savings.
    • Falling for easy-money schemes.
    • Racking up credit card debt.

    How to live cheaply during inflation? ›

    FNBO
    1. Eliminate unnecessary expenses. Look at your weekly and monthly expenses and see if there is anything you can cut out. ...
    2. Shop for groceries differently. ...
    3. Reduce your home's energy bill. ...
    4. Don't waste gas. ...
    5. Pay off your debt. ...
    6. Increase your income. ...
    7. Keep saving for the future.

    What is rule 69 in finance? ›

    The Rule of 69 states that when a quantity grows at a constant annual rate, it will roughly double in size after approximately 69 divided by the growth rate. The Rule of 69 is derived from the mathematical constant e, which is the base of the natural logarithm.

    What is the golden rule of saving money? ›

    The rule says that a person should divide his/her take-home salary into three categories: needs (50%) wants (30%) and savings (20%). “The rule's simplicity lies in its ease of comprehension and application, which enables each person to set aside a fixed portion of their monthly income for savings.

    What is Rule 72 in savings? ›

    It's an easy way to calculate just how long it's going to take for your money to double. Just take the number 72 and divide it by the interest rate you hope to earn. That number gives you the approximate number of years it will take for your investment to double.

    What is the $27.40 rule? ›

    Instead of thinking about saving $10,000 in a year, try focusing on saving $27.40 per day – what's also known as the “27.40 rule” because $27.40 multiplied by 365 equals $10,001.

    How to get $10 000 fast? ›

    Here are ten ways to make $10k quickly:
    1. Become A Freelancer. Freelancing is one of the most popular ways to make money quickly. ...
    2. Invest In Cryptocurrency. ...
    3. Participate In Online Surveys. ...
    4. Become A Virtual Assistant. ...
    5. Do Odd Jobs. ...
    6. Create An Online Course. ...
    7. Become An Affiliate Marketer. ...
    8. Sell Your Stuff.

    How much do I need to save a month to get $5000? ›

    How Much Do I Need To Save To Have $5,000 in a Year?
    FrequencyAmount Needed
    Weekly$96.16
    Biweekly$192.31
    Monthly$416.67
    May 3, 2024

    How to avoid wash sale? ›

    To avoid a wash sale, you could replace it with a different ETF (or several different ETFs) with similar but not identical assets, such as one tracking the Russell 1000 Index® (RUI). That would preserve your tax break and keep you in the market with about the same asset allocation.

    What is a wash sale? ›

    A wash sale occurs when an investor sells a security at a loss and then purchases the same or a substantially similar security within 30 days, before or after the transaction. This rule is designed to prevent investors from claiming capital losses as tax deductions if they re-enter a similar position too quickly.

    How to save with little income? ›

    SHARE:
    1. Focus on small changes in various budget categories.
    2. Automate your savings into a high-yield savings account.
    3. Earn interest on your checking account.
    4. Use those three-payday months to save more.
    5. Keep a budget.
    6. Shop around for insurance rates.
    7. Refinance your mortgage.
    8. Find a way to save on rent.
    Oct 19, 2023

    How can we save and beat inflation? ›

    How do I protect my savings from inflation?
    1. Tip 1: Work out how much to put aside as an easy-access emergency fund. The Money Helper service suggests that you should save for emergencies. ...
    2. Tip 2: Find the best interest rate you can on your savings. ...
    3. Tip 3: Think about long-term investments.
    Apr 5, 2024

    Where should I put my money to protect from inflation? ›

    Here are some top inflation hedges that may help you mitigate the impact of inflation.
    1. TIPS. TIPS, or Treasury inflation-protected securities, are a useful way to protect your investment in government bonds if you expect inflation to stay high or speed up. ...
    2. Floating-rate bonds. ...
    3. A house. ...
    4. Stocks. ...
    5. Gold.
    May 16, 2024

    What is the best way to reduce inflation? ›

    Monetary policy primarily involves changing interest rates to control inflation. Governments through fiscal policy, however, can assist in fighting inflation. Governments can reduce spending and increase taxes as a way to help reduce inflation.

    How to preserve money against inflation? ›

    Adding certain asset classes, such as commodities, to a well-diversified portfolio of stocks and bonds can help buffer against inflation. Be cautious about overallocating to cash, but make sure your emergency savings are keeping up with rising costs.

    References

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