Condo living is like living in a five star hotel because everything is within your reach. If you live in a high rise condo for example, you need some frugal living tips to save on money. Here are some tips that will help you to save money when living in a condominium unit:
Stay Glued to Your Budget
Although you have probably heard this a few times, sticking to your budget is important. Your budget must include all the monthly expenses that you will have in future, as well as your current ones. Include a savings and spending column in your budget to make things easier.
Make it your goal to save at least ten percent of your monthly income. Having a budget allows you to have some discipline and keeps you accountable.
Avoid Buying Unnecessary Appliances
If you want to save money on energy bills, you should only have the necessary appliances in your condo unit. Most people equate condo living with high-end living, which means that they have numerous appliances that they do not even use. If you are simply renting a unit, you should try to avoid appliances that you do not need.
You only need a dishwasher, a microwave, a cooker, a coffee maker, and a fridge. Most other kitchen appliances are convenient and save on time, but they add to your energy bills significantly.
Use the Windows
You need to open your windows to let in the cool wind and natural light. However, if you are feeling cold, you can just open your blinds or sheers to let light in while keeping the windows closed. Keeping your sheers open will allow you to use natural light and turn off the lights, thus saving on the electricity bills.
Pull the Plug
If you are not using your TV, fan, or phone charger, you should unplug them all. Most appliances keep using energy and consume idle current even when they are turned off. The average home has up to forty appliances that are always drawing power, which accounts for ten percent of your total energy bill.
Save with Energy-saving Devices
Although reducing the number of appliances you own will help you to save money, you can save even more by using energy-efficient devices. The good news is that you can upgrade your current equipment to energy-saving ones. Although this might be costly at first, you will end up saving more on energy consumption.
Harness Condo Facilities
Part of your rent usually goes towards paying for condo maintenance fees, which include gym and swimming pool maintenance. Because you are paying for these amenities, you should make use of them. Instead of staying in the house and increasing your energy bill, you should work out or swim. That way, you will reduce your energy bill whilst making use of the amenities you are paying for.
Consider Sharing Costs with a Roommate
Instead of giving up your condo, you can save money by getting a roommate with whom you can share the costs. With the hefty monthly expenses, you will definitely need some help. However, having a roommate will also make life easier, as you can split the costs and obligations between the two of you.
You should look for someone close to you instead of choosing a stranger to be your roommate. Looking for a roommate on sites such as Craigslist is not unheard of, but you need to tread carefully.
You need to maintain your condo properly to avoid paying for costly repairs much later. Running toilets and leaking faucets are the most common problems in most condo units. Call the condominium’s plumber as soon as you spot leaks.
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