Reduce Your Monthly Expenses
How Can You Reduce Your Monthly Expenses?
Do you every wonder why it feels like it’s impossible to save money? With all the expenses in life, it can be hard reduce your monthly expenses. However, it is not impossible to save a little bit of money every month. That little bit of money you save on household expenses, electronics, or your gym membership will add up over time…Perhaps into a down payment on the home of your dreams!
So, how do you reduce those monthly expenses?
2. Cell phone
Or, you could ditch the plan altogether and go for a prepaid phone. With a prepaid phone, you will always know what the cost of your phone bill will be. There are never any surprises. The cost runs approximately $40/month for an unlimited talk and text prepaid plan.
In order to ensure you are getting the best rates, price-shop every year. Consider other companies, and if they are offering promos or lower prices, ask your current company to match it. If they can’t, it might be time to make a switch.
4. Gym Membership
If you live in an apartment complex that has a gym, go local! The cost is already included in your rent — don’t pay double just to use a larger gym. If that’s not the reason, and you pay the membership to take classes, ask if you can just pay for the individual classes — it could end up saving you money!
If that doesn’t cut much money off your cleaning product budget, consider making your own products. With vinegar and baking soda, you can clean just about everything in your home.
Shop store brands, NOT name brands. You get the same product for a fraction of the cost. Don’t pay more for the same product if you don’t have to!
Only make one run to the grocery store per week. Make a shopping list and stick to it! The list will help you spend less money and will help you resist impulse buys. Another way to save money at the grocery store is to pay with cash. Paying with cash will make you more likely to stick to your budget.
What’s on sale? Try to plan your meal plan around that product, or buy extra and freeze it for use at a later time. In addition, it is important to know what is in season. Strawberries are much cheaper during their season (spring and summer) than in the winter. So, try and remember what fruits and veggies grow during which seasons, and plan accordingly.
Last tip for groceries - this is one we have found extremely useful! Once you go to the store make sure to keep the receipt and put it on the fridge. This is great for many reasons…one, it allows you a quick inventory of what is in the fridge (mark through what you eat), and two, it is a reminder of when you bought the products (the date bought is on the receipt). How many times have fruits or vegetables gone bad in your fridge? Well, hopefully that ends with the Receipt Reference Technique. This method could save up to $2,000 a year on groceries.
8. Eat out less often
Cook at home more often. The food you make is usually healthier and always a fraction of the cost of eating out.
9. Have fun for less money
Remember, you’re the only person looking out for your best interests. So, make sure you are proactive when it comes to getting the best rates. Also, always remember to pay yourself first! Put a portion of your paycheck directly into the bank. They say if you never see the money, you’ll never miss it!
Do you have tips for saving money? us a note! Money saved quickly adds up. Who knows? Perhaps the money you save could be the down payment on your dream home!
Blog Archive2019-04-10 15:04:29
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