Take a moment to think about all the money you spend in a month. It can be easy to feel like you are bleeding money between your mortgage or rent, groceries, utilities, and necessary expenses.

There are plenty of ways to cut costs without major changes to your lifestyle. Read on for a few simple ways to cut your expenses.

Take care of your cable subscription

Do you really need 500+ channels that you never watch? If you are like most people, the answer is no. Ditch your overpriced cable package in favour of a cheaper streaming service like Netflix or Hulu. You could end up saving over $100 per month.

Use LED light bulbs

LED bulbs are more expensive than traditional incandescent ones, but they can last up to 25 times longer. Not only will you save money on your energy bill each month by switching to LED bulbs, but you will also save money in the long run by not having to replace your light bulbs as often.

Check your water heater temperature

According to studies, lowering the temperature on your water heater can help you save significantly on your energy bill. While lowering your temperature may not sound like much, it adds up over time!

Plus, you probably will not notice a difference in the water temperature when showering or doing dishes. If you think your current electricity provider's rates are high, do not forget to look for other electricity providers Melbourne.

Unplug

It is a common misconception that electronics only use power when turned on. In reality many devices continue to draw power even when turned off but are still plugged into an outlet—a phenomenon known as "vampire power".

To save money on your energy bill, unplug electronics that are not in use or plug them into a power strip so you can easily turn them all off with the flick of a switch. Again, consider switching your electricity provider by doing an electricity rate comparison, if you think your current electricity provider is charging you more.

Hang dry your clothes

In addition to saving money on your energy bill, hanging your clothes to dry prolongs their lifespan by preventing shrinkage and colour fading that occurs with a clothes dryer. If weather permits, take advantage of sunny days and hang your clothes outside to dry. Not only will they be dry in no time, but they will also smell freshly washed, thanks to the natural sunlight and fresh air.

Final word

There are plenty of simple ways to save money around the house without making any big changes to your lifestyle. Make sure you keep the above tips in mind, and you' will be on your way to saving money in no time!