11/10/2023 0 Comments Cut monthly expenses![]() ![]() It means no more forgetting things in the store and having to make a second trip. Using curbside pick-up means no more last-minute impulse purchases in the checkout line. Ordering your food online and picking it up outside the store may be one of the best money-saving inventions ever. The two best tools to keep your food spending in check? Meal planning and using curbside pick-up services. Forget about rewards programs and all the supposed benefits of using credit cards, and pay cash for everyday expenses. If you're the type to get into credit card debt, it's best to accept that. But you'll never be able to cut monthly expenses if you're tied to these payments. They'll help you consolidate debt, negotiate lower interest rates, and communicate with your credit card company.ĭon't be ashamed if you're trapped by high-interest credit cards: it's very, very common. If you or your husband have a high-interest credit card or two (or more), this will be the first thing on his list of expenses to pay down.Ĭontact a nonprofit credit counseling agency to help you. If you are in debt, it is essential to get started paying that off as soon as possible. You can also purchase an inexpensive used smartphone for yourself. Look into a cheaper cell phone plan or simply ditch the data plan altogether if your children have smartphones and access the internet at home with them. If you qualify, congrats! If not, ask about other ways to save. If they have any, ask for them! Some companies offer discounts for the military, first responders, and teachers. Note: do NOT fall into the trap of signing up for all the streaming services, thinking you'll save money. ![]() However, if watching television is essential to you, you can cut the cable and access Netflix or Hulu. Slowing down your connection isn't an option if you use the internet for work. If you're not careful, your monthly expenses might include a significant amount of money spent on cable, internet, and cell phone service. You aren't making big lifestyle changes here just become more aware of everything. It simply means that you will be careful about where your money goes. Start there.Ĭutting there expenses does not mean that you will have to give up all the things you enjoy spending money on. You might have other easy fixes in your budget. ![]() Food and entertainment expenses are just a few examples. You may not be aware of all leaks while you're getting started. Spending $90 a month going to fast food places for lunch? Commit to dropping that habit. Signed up for Showtime and never watch it? Cancel it. Once you have a handle on where your money is going each month, you can take action. Here are some categories of unnecessary expenses to get you started:Īn audit is just the beginning. You may do this in phases if you need more time to adjust. Make a list of which expenditures we'll get rid of first, second, third, and so on. Next, go through all the needless costs and which ones will be the easiest to eliminate. Mark what expenses you have that are non-negotiable. Grab some highlighters and go through your bank statements line by line. If you've already made some recent changes, a three-month bank statement is acceptable. For the previous 3 to 6 months, print off your bank statements. The first step in saving money is to understand what comes in, what goes out, and most importantly, where it's all going. ![]()
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