It's no secret that nowadays we all want to save money, we're always looking for ways to trim our budget and save on household expenses. It doesn't matter if you're living paycheck-to-paycheck, have tons of debt, or maybe just looking to shave a few bucks from your monthly expenses There are many things you could do to pad your savings account Here’s 8 things you can do right now to cut costs around your home.
1. Make A Budget!
First things first, doing a budget is where the truth comes out. Examine where your money is going every month. What are your hidden expenses? There are many different ways to track a budget and can be found by doing a simple google search. Budgets are easy to learn, track and modify, the hardest part is getting started.
2. Negotiate Your Rent or Mortgage
You will be surprised how many landlords are willing to lower the price or rent. When the lease renewal time arrives, try to negotiate a lower rent. Don’t be afraid to ask, the worst thing that can happen is you get a no. For homeowners, the interest rates are nearing an all time low. It doesn’t hurt to shop around. There are many sites that let you compare the best refinancing options in minutes. As little as 1% could save you tens of thousands over the life of your loan.
3. Think Twice About Your Cable Bill
It’s 2019 and the days of being limited to your local cable provider are gone. An overwhelming amount of Americans are trading their expensive cable bill in for more convenient and economical streaming services like Hulu, Netflix, HBO and many others. The more affordable DirectTV Now gives you access to much of the same programming at a significantly discounted price.
4. Start Eating At Home
Eating out can be a time-saver but can be a drain on your bank account and can be a big part of your expenses at the end of the month. Instead of eating out or getting take-out you can try eating at home more or cook and pack your meals.
5. Save Money on Food
Did you know that food is one of the biggest expenses in a household budget? The worst part is a good percentage of the food in your fridge will go to waste. Not to worry, there are several ways to reduce waste and save on your grocery bill. Try one grocery shopping trip a week, make your grocery list before going to the supermarket, try to buy in bulk, and be sure to take advantage of coupons!
6. Reduce Your Utility Bills
Are you still shocked every time you open your get a utility bill? You'll be relieved to find that there are many things you can do to reduce your bill. Install a programmable thermostat, change your traditional light bulbs for CFL or LED light bulbs, turn off lights when they aren't used and use natural lighting when available, lower the temperature of the hot water heater and try washing your clothes with cold water.
7. Do You Really Need That Membership and Subscription?
Subscriptions and memberships can really ad-up. What seems like a small amount can become quite significant when bundled with a list of others. Take a look at everything you’re paying right now and analyze if you really need each service. Gym membership, monthly boxes, magazines, country club, etc.
8. Always Pay Your Bills on Time
If you are one of the many people who forget the payment dates of their bills then you know by now that you're paying extra fees that adds up to your monthly expenses. Remember to pay your bills on time, and skip those late fees from now on.