Economies of scale are used by businesses all over the world to reduce their costs, but did you know that the same principle can be applied just as effectively to your home outgoings? Buying in bulk and consolidating purchases where you can often means spending slightly more initially, but results in significant savings in the long-run.
Families may already be well-tuned to this approach, but even individuals that live on their own can take advantage of these savings if they know how. Here are few tips to ensure that you lower your home expenses by paying more now, but less overall.
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Your regular food shop is one of the most obvious areas where buying in bulk can save you money. In the vast majority of cases, purchasing a larger quantity of a particular product will result in a lower per-weight cost. Remember to scrutinise this in store, however, as there are exceptions to this rule. For some items that have a long shelf life, buying in bulk comes with few issues. Rice, pasta and flour will keep safely for months and can be stored away in a cool, dark place for whenever you need them.
Other products, however, can raise difficulties when it comes to buying in bulk. Fresh produce may spoil before you have time to eat it and wasted food is not only bad for your wallet – it damages the environment too. In order to avoid this, separate items into suitable portions and freeze them after purchase. Another option is to cook larger portions of meals and freeze the leftovers, which can then be re-heated at a later date for a quick and delicious meal. Examples of family-friendly recipes that suit this approach include macaroni cheese, soups, stews and curries.
Your utilities represent another significant home expense, but once again you could save money by consolidating your purchases. Look into whether your provider offers multiple services and enquire as to whether you could receive a reduced rate for switching.
Telecoms firms, in particular, are keen to offer these kinds of packages to customers, with many of them offering deals for consumers that take both internet and telephone services. CompareBundles.com hosts a lot of information about the kinds of packages available to consumers on their internet, TV and phone services. If you are currently sourcing these utilities from more than one provider it could mean you are paying more than you need to.
In a similar vein to your utilities, if you have more than one member of the family that is subscribing to a particular media package, then you could save by consolidating them. Many services, including Spotify and Netflix, now offer family plans that work out substantially cheaper than subscribing separately. Each member of the family can stream their own shows and music simultaneously providing the internet connection is strong enough, so you don’t have to worry about one account interfering with another.
Next time you’re shopping or negotiating your home bills, think carefully about whether you’re getting the best deal. Sometimes consolidating your purchases now is the best way of saving for the future.