How to Trim Your Monthly Spending
Saving money is always a good idea. Unfortunately, for many, it is also just a nebulous concept. Without planning, it can be almost impossible to save significant amounts of money long-term. We’d like to help you with that. This isn’t just a “don’t buy things list.” Realistically, it’s not extravagant spending that does most people in. It is mundane little things we spend money on month to month that add up. Let’s see if we can find ways to cut down.
Create a Target
Having something to shoot for is a great way to narrow your focus and make the idea of saving much less abstract.
Creating a savings goal can be more difficult than you might imagine. Too far one way, and you aren’t saving all that much. Too far the other way, and you may get frustrated and quit if you don’t hit it.
Creating a budget of your typical expenses is a great way to find out what your personal savings sweet spot is.
Be Honest About Your Expenses
How often do you use your subscription services? How often do you use your gym membership? How often do you go out to lunch?
If you’re budgeting for these things, but you don’t really need them, you could be throwing away a lot of money.
We live in a time when information is more accessible to us than it ever has been. If you’re still paying full price for pretty much anything, you are behind the times. There are even apps that will scour the internet looking for coupons for whatever you’re about to buy.
If something you want isn’t on sale at the moment, you can look at sales patterns to see when it might be. Holidays like Labor Day, the Fourth of July, and even President’s day are peak sales times. Shop strategically.
Reevaluate Your Bills
Cellphone coverage traditionally isn’t very cheap. This is doubly true if you use a lot of minutes, text, and data. However, if you don’t use a lot of those things, why are you paying for an unlimited plan?
There are new coverage options that offer you a pay as you go system. If you don’t use that much, you don’t have to pay as much. This also allows you to control your usage month to month to keep costs down even further.
Fast food isn’t known for its healthiness. It is however known for being inexpensive. At the same time, fast food restaurants want to make a buck too. They, like most stores, will advertise their low-cost options to get you in the door, then make the more appealing menu selections more expensive.
At McDonald’s, for instance, you can walk in with ten bucks and walk out with a premium sandwich a fry and a drink. Or, you can walk in with 6 bucks and walk out with two or three regular sandwiches a smaller fry and a drink. Save the other sandwiches for later, and you have multiple meals for less money. Shop smarter, not harder…you know what I mean.