How to Save Money on Monthly Expenses

Most of you know that I can be almost painfully frugal at times but making a few sacrifices now knowing its driving me toward being debt free makes it an easy thing to do. I found that making just about everything I possibly can helps me keep a healthier home, saves me money and, almost always, results in my having a better product in the end anyway. There is really no losing in the situation. For example: buying lunch every day instead of making almost guarantees that I’ll probably be spending more for a product that isn’t as nourishing or good for me anyway.

(This is a contributed post, for more information about my compensation please read my disclosure policy)

There’s much to love about living in the modern world. Things are safer, cleaner, and more fun and diverse than at times in the past. But alas, there is a downside: there is a cost to pay for all this convenience. If you’re going to be a fully functioning member of society, then your wallet will be virtually permanently open; there are just a lot of expenses that have to be paid.

The good news is that there are ways to keep more of your cash in your bank account. Indeed, by making a few changes, you can begin to notice a difference in your financial situation within the space of a month. We take a look at a few ways to do this below. 

Leave the Car At Home 

Most of us live certain aspects of our lives on autopilot.

We are, after all, creatures of habit. If you’ve got a car, then your usual routine when you leave your home will be to get behind the wheel, buckle up, and begin your journey. But is this always the smartest action? It could be the most convenient, but you might be spending more money than you realize, and for sure more than you’d like to!

Whenever you’re traveling anywhere, take a look at all the options you have for getting there. You might find that you can save a bunch of cash by taking public transport, for example, especially when you’ve factored in the cost of parking. In some cases, combining both — driving part of the way, taking the bus the rest — will be the best option. 

Sharing Rides

If you’re committed to getting to where you need to be in a car — or there are no public transport options — then you can also look at sharing your rides.

This works especially well if you live close to someone who makes the same commute to work as you do. You’ll drive sometimes, they’ll drive sometimes, and the costs will be shared. Just like that, you’ll have halved the amount of money that you’re spending on your commute.

And of course, you can save even more by adding more people to your commute party. Just be sure to make the arrangement with someone that you can stand being in the car with. 

Cut the Cords

There are some monthly expenses that you can’t live without.

You’re not going to cancel your electricity or heating, for example (though remember that there are ways to keep these costs down too!). But it’s possible that there are some monthly expenses that should be given the boot full-time. Take your entertainment options, for example. If you have cable and various streaming services, then something can surely give — and it’s probably best if it’s cable.

That’s a service where most people pay too much, since they don’t watch the majority of the channels that are included. If you’re unsure about cutting the cord, at least call up your provider and threaten to leave: they’ll probably reduce the cost of the service instantaneously. 

Lower Your Phone and Internet Bill

One of the reasons why life is more expensive these days is because new services that are increasingly fundamental are being added.

The two biggest examples of this are the internet and cell phone usage. It’s hard to be a fully functioning member of society without those two in your life! But that doesn’t mean that you have to pay the earth for them. Most people end up spending more than necessary.

There’s little value in paying for something that you don’t use. If you’re paying too much for your cell phone plan, look at getting a SMARTY sim card: with that, you’ll only pay for the data that you use. It’s also worth taking another look at your home internet deal. It could be that you’re paying for a level of service that you just don’t need.

If you’re only using the internet to browse the web and stream videos, then you won’t need the fastest internet service available. 

DIY Tasks

When something goes wrong with our properties, our first thought is to call an expert that can help us get things back on track. Yet, while there are some jobs that you positively should not attempt to fix by yourself, it’s possible that you can take on more than you realize.

Aside from many other benefits (such as learning skills and building confidence), this can be a way to save a lot of money! Moving forward, take a look at improving your DIY skills. You can take a course, get someone to show you, and just fix things with the help of YouTube tutorials. 

Make Your Lunch

There’s no denying that it can be enjoyable to leave the office and pick up a delicious lunch from a popular takeout spot.

But, of course, there’s a huge expense attached to this luxury. It makes a lot more sense to make your own lunch at home, and take it into the office with you. Think of how much money you’re spending on eating takeout for lunch each day, and then multiply that amount by several years: does the figure make your eyes water? Make your own lunch for a month, and just see how much you save.

To make this a regular part of your life, look at making meals that are more interesting than the traditional sandwich. You’ll look forward to lunch a lot more if you have something delicious in your lunch box. 

And Skip the Expensive Coffee

Of course, not everyone buys their lunch every day. They know that it’s a waste of money. The same cannot be said of coffee. People spend around $100 a month, and all to get their caffeine fix. While a delicious coffee drink can be enjoyed every now and again, it should be treated as a special treat.

To break the habit, look at making good coffee in your house. You’ll be more inclined to spend money at a coffee shop if you can only make flavored brown water. Invest in high-quality coffee and a maker, and you’ll be able to make coffee that’s just as good as what you can buy in town. 

Make a Shopping List

A lot of people are guilty of overspending at the supermarket, yet they don’t even know it! It’s important to remember that supermarkets while presenting themselves as friendly and welcoming and so on, are specifically designed to get you to spend as much money as possible.

There’s little in a supermarket that is left up to chance. To reduce your spending, it’s important that you go into the store with a list of what you need to buy. If you don’t, you’ll end up buying things that you probably don’t need.

Also, take a look at which brands you’re buying. Your eyes will be drawn to the most expensive item (not a coincidence), but the item that’s on the bottom shelf may be just as good, but much cheaper. 

Curb Impulse Purchases

As with supermarkets, retail shops also know how to play on your subconscious desires. Ever bought something on impulse? The idea probably didn’t come from within. If you want to save money in one another, then that impulse to spend will have to be squashed. Next time you’re thinking of buying something, take a step back, breathe, and walk away. 

Cheap and Free Entertainment

Ah, the power of boredom. It can make us do anything, and especially break our “let’s curb our spending” mission. If we’re feeling restless, we’ll look for the nearest thing that can entertain us. When this happens, it’s important that we do a little research to find cheap or free entertainment options.

It could be that there’s a cinema that’s cheaper than usual, or that there are free events or exhibitions going on in town. Spending a few minutes researching online can lead to big savings, and help get rid of your boredom!

Socializing With Friends 

It’s really important for our emotional wellbeing that we spend time with our friends, but there’s no reason why this aspect of our lives has to cost us more than necessary. While it can be fun to go out for a meal with our loved ones or visit a bar, there is another option: invite people into your home.

This will be just as good — if not better — than going out, but it’ll cost a fraction of the price. Have everyone bring a dish and a bottle of wine, and, hey presto, you have the makings of a great night. 

What Are Your Weak Points?

The points outlined above are general to everyone, but there’ll also be some points that are specific to you. You know your situation better than anyone, so look at conducting a spot of self-analysis, and try to figure out your weak points when it comes to spending. If you can identify what they are, then you can take action to put them behind you. 

(This is a contributed post, for more information about my compensation please read my disclosure policy)