Top 5 ideas (plus 5 more bonus ideas) to help you reduce your monthly expenses by over $500 per month! Is that even possible? I’ll bet dollars to doughnuts it is. . .
All these ideas might not apply to your situation, but I tried to choose expenses that you most likely have on a monthly/recurring basis; these are also areas that I have personally saved money (except for stitch fix, trunk club and shoe dazzle – I know, I know . . . that’s just crazy talk!)
1) Reduce food expenses – reduce eating out, bring your lunch to work, and shop smarter for groceries – try Aldi, Lidl, or Walmart; $300 per month
2) Reduce heating and cooling costs by using programmable thermostats, fans, as well as a little extra caulk and insulation; $25 per month
3) Reduce your TV bill – go with netflix and free OTA broadcasts; $90 per month
4) Swap that expensive whole life policy with a less expensive term life policy; $75 per month
5) Minimize vacation expenses (Mickey gets paid too much anyhow); $100 per month
5 more bonus ideas, why? because you paid so much for this blog of course
- Drop that gym membership (you hardly ever use it); $85 per month (ride your bike, workout at home)
- Drop the monthly security bill – there are better technology solutions that cost less; $20 per month
- Make coffee at home – stop buying that latte from starbucks! $25 per month
- Do you really need stitch fix, trunk club, and shoe dazzle? $20 per month
- You can do without spotify premium and/or apple music – listen to the radio or get the ad supported version of spotify (free!) $10 per month
“Trying to be happy by accumulating possessions is like trying to satisfy hunger by taping sandwiches all over your body” – George Carlin
7 thoughts on “My monthly expenses are too high!”
I’ve been doing a whole series on ways to save money – have talked about TV and grocery shopping already – there is one in the pipeline all about fitness and gym memberships! Great list!
I plan to do a couple posts on food/groceries – one of the budget busters for many – also an area I personally need to improve, we are spending about $12 per person per day on food . . .
LikeLiked by 1 person
Pingback: Financial independence | Jimmysmoneytips
Pingback: Top 3 causes of financial anxiety | Jimmysmoneytips
Parking and transportation. Do you need to take an Uber or could you take the bus or walk? Is it worth taking a parking spot close to where you’re going, or can you park a block away on the free street and walk?
I also like to use a cost-benefit analysis before I spend money on things. “Is the quality and experience of the $5 gelato worth it, or could I do with buying a half gallon of ice cream at the grocery store?” or “Those earrings are cute! But how often would I actually wear them?”
Pingback: How to prepare if you think you might lose your job? | Jimmysmoneytips
Pingback: Endless cycle of debt? | Jimmysmoneytips