Winter can be an enjoyable time, but it also presents some challenges, especially from a financial perspective. While it’s generally viewed as a quieter time of the year, many people find that they spend even more during winter than they do in the summer months. After all, when the weather is warm, it’s more likely that you’d be content to spend a day having a picnic in the park, which is extremely budget-friendly.
Winter, on the other hand, brings an assortment of costs, some of which, like Christmas spending and heating bills, can feel unavoidable. Throw in the fact that we’re more likely to spend frivolously when there’s less going on, and you have a season that can be pretty taxing on the bank balance.
With that said, there are several ways to reduce your winter-related costs. If you’re concerned about managing your finances this winter, then the following tips, which are often overlooked, should help.
Find a Home Activity You Love
Winter can be a lovely time of year, but it’s hard to argue that it’s the most expensive time of the year. With the days cold and the nights drawing in early, many people find themselves spending a lot more time at home than they usually do. That can spark boredom, which in turn sparks a desire to spend money. Research finds that people spend more when they’re bored, be it through ordering online or on activities that get them out of the house.
The solution? Find a way to avoid boredom at home this winter. Learning new skills, starting a creative project, or starting a side hustle will all help to keep you engaged this winter. And in the case of the side hustle, it may even help bring in more money.
Lower Your Energy Bills
With energy costs rising, many people are finding that they’re spending an increasingly larger amount of their income on their energy bills. During winter, this pressure becomes even more pronounced, since, in some parts of the country, heating the home is a necessity, not a luxury.
There are various ways to reduce your energy bills. One option is to apply for HEAP, a government assistance program that helps low-income households pay for their heating costs. Applying now will give you peace of mind that you can pay for your heating needs this winter. Another option is to turn down your thermostat, since even minor reductions can result in noticeable savings. Buying blankets and warm slippers/bathrobes can also reduce your dependence on your heating system.
Spend an Afternoon in the Kitchen
Humans tend to eat more in the winter than in the summer, and with the cost of groceries going up, that can mean that households spend an even bigger chunk of their income on feeding themselves. One smart way to save money this winter is to spend some time batch-cooking frugal meals, which can significantly reduce the cost per meal. Cooking also warms you twice — once when you’re cooking, and again when you eat it.