The old adage is true: a penny saved is a penny earned. But, with as many moving parts as life has and with as many expenses that rack up in the effort of just ‘getting by’, saving money every month can be very difficult.
So, what steps can you take to help reduce the costs of living that are so commonly taken for granted? Even allowing for variables like rent or mortgage payments, childcare expenses, and lifestyle costs, there are many things you can do to start keeping more in your pocket after the bills are all paid.
To help you get ahead financially, here are 5 ways to cut down on your everyday living expenses.
#1: Cut the cable (TV).
There are so many different ways to entertain using the internet that the need for cable or satellite TV has gone the way of the dodo. If you’re still paying for subscription-based cable or satellite TV service, consider nixing it an opting for services like Netflix or Hulu instead.
#2: Switch mainstay brands.
By ‘mainstay’ brands, what we mean are those brands of products that you’re routinely used to buying because that’s just what you’ve always bought. You might have a special allegiance to Lancome beauty products, for example, when a perfectly comparable line of beauty products could serve your needs at a fraction of the cost.
#3: Reevaluate your need for monthly services.
Almost everyone has monthly-billed services that they just presume they need for whatever reason. For some, this could be a streaming music subscription. For others, it could mean an identity protection service that bills them a hefty $20 every month. Take account of all of these ‘smaller’ costs, and try to consolidate or eliminate them, if you can.
#4: Switch up how you get around.
That car you drive that costs you about $800 a month, all-in, could be completely unnecessary for you to do what you need to do in order to live a happy, fulfilling life. From public transit to bicycles or even walking, there are lots of inventive ways to get from point A to point B, and many of them can be very inexpensive.
#5: Start doing more yourself.
It’s tempting to outsource the tasks we don’t want to do ourselves. From cleaning our homes to washing our cars, we spend a lot of money getting other people do things for us. Why not keep more money in your pocket every month by doing at least some of these duties yourself?
After just a few weeks of integrating these five ways to cut down on your everyday living expenses, we think you’ll find yourself with a lot more breathing room at the end of the month. Now go forth and save!