Household bills increased with more time spent at home?

Many of us will have noticed our household bills rocket as we have been spending more time at home. Lockdown may have been relaxed, but the strain on our budgets hasn't.

We've pulled together 5 simple ways for you to reduce those essential bills. Take a little time to ensure you have the best deals on living expenses and free up cash to be spent on more enjoyable things now we've been let out!

Pretty much every household's big money spends fall into the same five categories:

• Housing
• Personal loans
• Energy
• Food and drink
• Medical and health care

Follow our top tips for each key area to save thousands of dollars every year.

Money-Saving Tip #1: Save on your home loans or rental

The great Australian dream of owning your own home can quickly turn into a nightmare if your new property leaves you with a little left over for a comfortable lifestyle.

Mortgage stress is a real thing and the key to avoiding this crippling pressure is to avoid over-extending yourself. A useful guide is to ensure that no more than 30% of your take-home pay is sucked up by mortgage repayments.

If you've already committed to a home loan, it's not too late to save money. Comparison sites will help you find your best home loan offer, with infochoice promising to give you $1000 if they can't find you a lower rate for your loan.

If you haven't stepped onto the property ladder, there are plenty of ways you can save on rent.

The most obvious way to reduce rental payments is to consider getting a housemate if you don't already have one.

If the idea of sharing your home doesn't appeal, there are plenty of other things to consider when renting: do you really need to live close to the city centre or could you consider the cheaper suburbs? Is a state-of-the-art penthouse necessary or could you live in something more frugal whilst saving?

Realestate.com has some more useful tips on how to save on those monthly rental payments.

Money-Saving Tip #2: Personal Loans

You might have racked up some personal loans that are taking their toll on your monthly budget. If you have more than one agreement, it might be worth considering rolling them into one consolidated loan.

Debt consolidation - or refinancing - can make it easier to manage your repayments. Quick and Easy Finance offers a consolidation service that is both, well...quick and easy.

There are a few things to consider before refinancing. The moneysmart website has some useful tips.

Money Saving Tip #3: Energy

Energy bills are another quick and easy save for many of us. By comparing energy plans you can easily find which suppliers are cheapest on the market, allowing you make the switch and save big on your electricity and gas bill.

It only takes a few minutes to find the best deal - head over to comparemyenergybills where they will compare your energy bills for you and find you the best deal. The average household saves $500 per year after visiting comparemyenergybills and right now you get entered into a draw to win $1500 off your energy bills simply by comparing with them.

Money Saving Tip #4: Food and Drink

According to the Australian Bureau of Statistics, the average Australian household's food and drinks bills come in second only to housing costs. Savvy shopping can save you hundreds of dollars - and can often bring some surprisingly tasty options to your table too!

Simple things like buying fruit and veg that's in season can save money: in-season produce is significantly cheaper.

Brands aren't all they're cracked up to be either: non-branded alternatives are often just as tasty and they're cheaper because you're not paying for their marketing.

Take a look at Mamamia's tips for reducing your grocery shopping bill - there are some doozies in there.

Money Saving Tip #5: Medical and health care

Hate that feeling when you hand over your health insurance card only to be told you're not getting anything back? Us too!

The truth is, we are often paying for cover we don't need and not the stuff we really do.

Choosing a health insurance policy that's right for you and your family can seem complicated when there are so many insurers to choose from and so many ranges of products. And with the cost of health insurance consistently increasing, reducing your premium - without skimping on value - makes sense.

There are a number of things you should think about before renewing your health insurance, including asking yourself whether you actually need health insurance.

Choice.com has a standout guide to saving on health insurance.

We've given you plenty of juicy ways to save significant dollars on those everyday bills. It doesn't take long to work through these top tips, and the payback will be worth every second.

Happy saving!