How To Budget For A New Hot Water Cylinder

bathroom

As the weather gets colder, families all around Australia start to look for and invest in home additions that will keep them comfortable throughout the season. One of the most important things is to ensure that there’s a plentiful supply of hot water so that everyone in the family can enjoys steamy showers and cups of their favourite tea or coffee.

One of the best solutions is to invest in a hot water cylinder as it is much cheaper and more efficient to run than an electric variant. However, this kind of home addition can have a significant upfront cost and some families may struggle to find the spare cash to invest in it.

Luckily, there are plenty of ways for the average household to save money so that it can invest in a new hot water cylinder. Most of it all comes down to being smart about how you limit lifestyle choices and streamline weekly finances.

Doing all of this will be worthwhile when you’re enjoying the convenience having this addition in your home over the winter months. Let’s look at some tips for budgeting for a new hot water cylinder.

 

heaterPlan your weekly meals

How much money do you spend on food every week? If you include all your groceries, work lunches and weekend drinks it can add up to quite a lot.

Not having any set plan for how you approach eating during the week may be more fun and carefree, but it invites you to overeat and overspend while doing it. It’s likely that with some simple planning you can get all the nutrition you need and enjoying satisfying meals without breaking the bank.

Work out what your staple meals are and plan for how you can maximize your savings when doing grocery shopping. Work out how much your work lunches are costing you each week and see if there is any way you can cut out or reduce the amount you’re spending.

Writing all this down and having someone else witness for you will entrench the plan in your mind so that you are much more likely to follow it. If you this, you will find that you will have a lot more spare cash to put towards your fund for a new hot water cylinder.

 

Host a garage sale

When you’re feeling the pinch and need some extra cash in a short amount of time, throwing a weekend garage sale is always a solid plan for most suburban families. Just throw up some signs around the neighbourhood letting people know the date and time, pull out a few picnic tables and go.

You probably have a bunch of junk around your home that someone else could get more use out of than you. Items like old movies, video games and other electronics tend to sell the best so don’t hesitate to do a cull of your media library if you have one.

 

Reduce your discretionary spending

This is essentially a nice way of saying “stop spending so much on useless stuff”. Everyone is guilty of wasting money on stuff and there’s always room to save some serious cash when we learn to make do with what we have.

It’s helpful to remember that you won’t have to punish yourself forever – just until you save up enough for you new hot water cylinder. Sometimes you just need to put your head down and endure a little hardship, so you can enjoy something better later.

Hopefully the above tips will help you save the extra money you need so that you and your family can enjoy the benefits of a hot water cylinder this winter.