Are you sick of being told to cut out that morning latte to save money? At this point, we all know that visiting the café every day is expensive. Furthermore, investing in a travel mug doesn’t exactly make enough room in our monthly budgets to give us the breathing space we need. Here are four additional areas where we can cut costs, pay down debt faster, and add to our savings.
- Cable
We know it’s comforting to veg out in front of your favorite shows after a long day at work. But cable is the top expense that budget-conscious people are eliminating from their lives more and more.
The average cable subscription runs in excess of $80 per month. The cost is even higher when bundled with other services, namely internet. Pay for the internet only, and pick one or two subscription services to stream. Hulu is around $8 monthly, while Netflix currently costs $11 monthly.
This means you could shave an average of $60 off your monthly expenses, which is $720 annually.
- Frequent Grocery Trips
Ignore any advice that tells you to eat less to save money; it’s barbaric. What you really need to do is shop smarter. For starters, stop shopping throughout the week. Going to the grocery store frequently means you’re less prone to pick up odds and ends that really don’t have a place in your budget.
Instead, buy in bulk. The way you save here is by buying your staples – pet food, toilet paper, milk, frozen fruits and vegetables, and more. If you need snacks, bulk is also a good deal. Just do your due diligence in comparing the price per pound to the regular-sized version.
Meat, condiments, and fresh produce might be best left to a strictly-budgeted weekly trip.
- Restaurants and Entertainment
Been considering taking out a loan with research done at https://loanreviewhq.com/reviews/? Hang on just a little longer, because we have arrived at an area where you really should think twice about treating yourself. If someone else volunteers to treat you, that’s a different story.
Even if you only go to a restaurant and a movie twice a month, that’s a minimum average of $50 you could be saving instead.
Pay attention to where else you might spend. Do you go to bars after work or on the weekend? Have that evening cocktail if you must, but make it simple, and have it at home.
- The Gym
The average gym membership costs $50 a month, but they also usually hit you with other fees and charges. Whether you believe it or not, you can stay fit – exceptionally fit – without any fancy equipment, right at home.
The only caveat here is that you might have to convince your gym to let you go without hitting you with – you guessed it – a ridiculous exit fee.
By trimming away these four expenses, you can save approximately $200 a month. With an extra few thousand dollars annually, you can build an emergency fund, eliminate part of your credit card debt, or even take the vacation of your dreams. Best of all, you might find that you don’t even feel deprived by cutting these away.
