Expendable Expenses: Budget Cuts You Might Not Even Miss
Let's face it, sticking to a budget is hard. After spending the week at work to make enough money to have a good life, we all want to spend some of it on things that make life more enjoyable. The problem isn't necessarily spending money in general, but rather which things are actually worth our hard-earned cash.
That's why it's important to know where your money is going and decide if what you're buying is worth the price. Our needs vary from person to person, but everyone has something they could afford to stop buying. Here are some of the areas where most people could stand to cut a few things from their budget without much negative impact.
Drop Convenience Expenses
We all like the luxury of having things done for us sometimes, but if you add up all the little things that seem not to make a difference financially, you may just realize it's a lot more than you think. Foregoing some of these conveniences may save you a ton in the long-term!
- Pre-cut Food
- Eating Out
- Delivery
- Expedited Shipping
- Precooked Food
- Individually Wrapped Items
- Disposable Items
Lower Necessary Costs
Just because we need these things doesn't mean we need to overpay for them. Look at some of these to make sure you aren't paying for more than you're using.
- Electricity
- Food
- Insurance
- Cell Phone
- Childcare
- Transportation
Eliminate Or Replace Expensive Extras
We all love to have things that bring us comfort and joy, but when you really think about, are you getting your money's worth? Here are some ways to lower the cost.
- Enjoy Free Entertainment
- Ditch Unused Subscriptions & Memberships
- Get Rid of Cable
- Toss the Landline
- Limit Streaming Services
- Limit Organized Activities
- Cut Back on Alcohol
- Replace Bottled Water with Home-Filtered
- Use Pandora Instead of XM Radio
- Spend Fewer Nights Out
- Cut Impulse Buys
Price Too High? Then DIY!
It might take time to sharpen your DIY skills but the savings will be well worth the time investment. Here are some things you can do or make yourself at home.
- Make Cleaning Supplies
- Mend Clothes
- Do Small Repairs
- Cut The Car Wash
- Dye Hair & Do Nails Yourself
- Insource Landscaping
Look For Ways To Save
A little time looking for discounts can pay big dividends. These days, saving money is even a sport to some. Wouldn't you like to be the next person in the local paper for saving $2,000 on groceries?
- Buy Long-Lasting Quality Items
- Buy Generic
- Use Coupons/Discount Apps
- Cut Designer Labels
- Shop Thrift Stores & Resale Shops
Small Change, Big Impact
For most people, at least a few of those things are expenses they can live without or changes they can easily make. The more things you can do, the more you can save. It may take a little time to figure out which things you aren't willing to give up and which ones you won't even notice are missing, but once you do you can celebrate your victory all the way to the bank!