Every year you make a pact with yourself to find ways to reduce your monthly expenses but for some reason or another, you revert back to your poor spending habits. Make this year the year that fully commit to it and actually do it. In a few short months, after seeing your debt start to come under control you’ll wonder why you didn’t do it sooner.
Eliminate or significantly reduce unnecessary expenses
Today there are two large bills that people rarely review, the cable and the cell phone bill. While you enjoy watching television and catching up with friends on social media, these bills can consume a huge portion of the average homeowner’s monthly budget. Instead, scale back and take on a cable and cell phone plan that’s more reasonable. It’s easier than you might think. Unlike 10 to 15 years ago, there are many service providers who are anxious to take on new customers. If you like the company you’re currently with, contact them and explain your current situation. Chances are good that they will try very hard to find a way to save you money to keep you on. If not, shop around and save with DIRECTV or others who have creative packages to accommodate most any budget.
Generic brands may not have the fancy label and packaging. But, do you know what they do have? Most times the exact same ingredients at a much lower price. If you shy away from generic brands figuring that they might not have the same quality or taste, try a few out every time you shop. You’ll be pleasantly surprised that in most cases you’ll start using the product in the future and begin to reduce your monthly food, cleaning supplies and toiletries expenses in a big way.
Use second-hand shops to purchase clothing and supplies
If you’re raising a family and have a few young children, you know all too well the expense that comes along with keeping them in clothing and acquiring their essentials. Since children grow very fast it really makes no sense to indulge in expensive clothing that they may wear just once or twice. Instead, pay a visit to your local thrift store or go onto one of the many online outlets that specialize in children’s preowned equipment, bedding, and clothing. Most also buy items. This allows you to purchase their supplies at a reduced rates and to sell off items you no longer need. It’s a big win for you.
Brown bag lunch and eat at home
You work hard and as a reward for your efforts, you enjoy eating out and buying your lunch at work. This is an area that can bring you a few extra hundred dollars or so in a single month. Instead of buying lunch every day, bring leftovers from the night before and only buy your lunch once a week. The same goes for eating out. If you eat out once a week, change it to once a month. To take it a step further, eliminate the morning coffee from a shop and brew it at home instead.
There are so many ways to save money on your monthly household expenses by simply paying a little more attention to every penny you spend. Instead of opening your electric and gas bill and paying it, take a look at the rates. When you go food shopping bring a complete list and don’t derail from it. Also, make sure that you never head out without coupons in hand. Take a short walk instead of getting in the car, carpool to work, or take local transportation. Once you get started you’ll find that without even thinking you’ll learn how to be frugal with every purchase you make.