Paying back a home loan is a big commitment. That doesn't mean it has to be a daunting one.

Learning to live with your mortgage repayments doesn't need to be difficult. Most people are able to adjust their lifestyle and make their monthly payments without too much hardship.

However, if you wish you had some more financial breathing space – either for saving, spending or other uses – there are some simple ways to cut down on your monthly expenses.

Zap that energy bill

Households use a lot of energy – which means there are a lot of potential savings to be had!

One of the biggest offenders during summer is the air conditioner. Try to reduce your dependence on these guzzlers by increasing the natural cooling of your house.

Close windows and shade them from sunlight when it is hot. When it cools, open windows and doors and let air flow throughout your house.

Next up, wage war on unused appliances and make sure you turn them off at the wall when they are sitting idle – stereos, phone chargers, computers – death to standby!

It's also a great idea to invest in energy-efficient light bulbs – these often last longer than normal ones and use much less electricity.

Go to the library!

You don't have to start reading books every day, but going to the library is a great way to remind yourself that there are entertainment options out there that don't cost any money.

So get creative at finding low cost ways to have fun!

Consider your refinance options

It may be that your first home loan structure just isn't serving your needs as best it could.

A mortgage adviser can help you find a better deal, or a way to consolidate other debt you have so that you are paying less interest.

You can contact a Smartline Mortgage Adviser on 13 14 97 for home loan advice. Or complete our call request form and we’ll call you!

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DISCLAIMER: The information contained in this article is correct at the time of publishing and is subject to change. It is intended to be of a general nature only. It has been prepared without taking into account any person’s objectives, financial situation or needs. Before acting on this information, Smartline recommends that you consider whether it is appropriate for your circumstances. Smartline recommends that you seek independent legal, financial, and taxation advice before acting on any information in this article.