While financial planning isn’t exactly a walk in the park, with a little effort in certain areas, you can drastically slash your monthly expenses. If you’re in need of a little financial restructuring, try these five tricks for easy ways to cut back.
(Balanced) Weekly Couponing
Often, people underestimate the value of couponing, especially when it comes to weekly food shopping. Your local penny saver is packed with deals, and shoppers should always be diligent about checking the websites of their local supermarkets and comparing deals and prices to see where they can get the most bang for their buck. At the same time, however, it’s absolutely imperative that you don’t purchase anything that you aren’t going to eat or drink — just because there’s a coupon for it, doesn’t mean you need it!
Cut Utility Expenses
There are numerous ways to slash your utility bill each month, but they require for you to be a little industrious and strategic. You should make sure that you’re always diligent about making sure all of your lights and electronics are off before leaving the house, and maybe even consider investing in a programmable thermostat to ensure that heating and cooling functions aren’t being overused when unnecessary, cutting the cost of your monthly bill. It might even be a good idea to unplug unnecessary and underused devices until you need them, since a lot of times, appliances and gadgets like televisions, toasters, and laptops can sap energy even when they’re not in use.
Reevaluate Your Data Plan
You may want to consider reevaluating your cell phone’s data plan, especially if you don’t manage to use all of the data your plan provides you in a month. Look for hidden fees and stipulations in your contract and downgrade accordingly. The process of downgrading your plan through your provider is simple and quick, but can save you a ton of excess costs in the long run.
Nix Your Paper Subscriptions
If you’re paying for magazine and newspaper subscriptions, you might want to consider nixing them to save money — especially since the number of free online publications vastly outnumbers the ones that require paid subscriptions. It might just be time to go digital. This is especially simple in the age of apps like Texture, which allows you to access a ton of monthly and weekly publications on your phone or computer for a low monthly rate.
Cancel your Cable
Let’s face it, paying for a premium (or even basic) cable subscription is totally unnecessary nowadays, especially with streaming services like Netflix and Hulu. Additionally, many networks will upload the latest episode of your favorite show to their websites the night after it first airs. Plus, by eliminating the bill entirely, you’re also cutting down on your electricity costs at the end of each month.