When you are paying for something that is incredibly expensive, you can bet that your budget will immediately reflect it. However, there are smaller expenses that are more subtle, and these can also be a drain on your budget. You might call these smaller items money leaks. These smaller items are basically expenses that may or may not increase with the passing of time and some of them might be so subtle that you never give them a second thought.
For example: you have to pay for your energy, right? If you have an air conditioning or heating system that is working harder than it should be, you might be wasting many hundreds of dollars on a yearly basis. Other energy hogs can include things like appliances that are outdated and the old fashioned incandescent light bulbs. You might also consider shopping around for the best rates if you have that ability in your region – like at a site such as Direct Energy Alberta. Most energy companies will also be able to do an energy audit and let you know where your home might be losing energy and how to fix the problem.
Break it Down
Before going any further, it should be common knowledge that if you are going to find the things that are draining your budget, you will first need to sit down and take a good look at all of the expenses that you have. During each month, you will have expenses that are recurring. You can break these expenses down into 2 categories – necessities and non – necessities. Take a look at both of these categories and determine which items in them you can do without, in order to be able to get to a spending plan for the month that is solid.
Now, this is regarding cell phones since not many people still have landlines in their homes… although some still do and might need assistance with better managing that phone bill.
You really do not need to feel like you are being pressured to sign a contract with a cell phone carrier. Most of the time, there will be carriers in your area who will offer plans that are low cost while not necessitating a contract. Some plans are as low as $35 a month with unlimited data and calling. Compare that to what you are paying now and you will really be able to tell the difference.
Think back to when you were small. It may have seemed like there was always something good in the refrigerator. Now that you have grown up, you will know that this only happens when you buy the groceries that go in it. This takes a financial investment that might be significant. Now, you could just go right into the grocery store and buy whatever takes your fancy. This could really end up costing you though.
You can cut the budget down in this area by doing a few things. Start with making a menu for the week. Now, make a shopping list with those items that you will need for the menu. Now, take a peek at the grocery ads and find the items that you need that are on sale. Different things might be on sale at different stores, but you don’t need to go from one store to the next. There is more than likely a store like Walmart in your area that will matches sale prices that are listed in the ads. Don’t forget to use coupons too. You might be surprised at how much you can save by shopping this way.
Typically, a cable bill will run you about $80 each month. However, if you have the internet, why do you need to pay for cable too? If there are only certain shows that you watch, there is no need to pay for an entire cable package when you can use services like Netflix, Hulu, Roku, and YouTube or Sling to get that fix for your TV addiction without all the cost.
These are just a few of the things that might be draining your budget. What other ones can you think of?