It’s never too late to save some money, and it doesn’t have to be difficult. Many of us have a tendency to spend money we don’t have, often on things we don’t need.
This blog is dedicated to providing you with pointers on ways to cut your expenses by getting rid of cable, canceling a gym membership or even dropping an unnecessary subscription.
There are so many easy ways out there that could save you money, and this blog is here to help you find the things to keep and the things you should cancel.
The first step is to make a list of all of your recurring expenses, including things like cable, gym membership, the credit card you pay your utility bills with, etc. Once you’ve made up this list, it’s easier to figure out where you can cut back.
Here are some easy ways to save money on your expenses:
Cancel cable: I’m sure this is the first thing you think of when anyone mentions saving money! The average American spends $100 a month on cable, and that’s not including the internet if they use that! You can always find ways to watch your favorite shows online or at friends’ houses. I know many people who have canceled their cable and only watch shows via Hulu and Netflix online.
Cancel your gym membership: This is a second choice for many people. A membership at the local gym costs $5 to $200 a month. You can find cheaper gym memberships in your area, but only if you use it. Otherwise, you can simply cancel. Is it the exercise or the people there?
Ask yourself what you like about the gym. Maybe you can join a meetup group that exercises together and that will do the trick for you.
Cancel a credit card: This is another easy way to save money. If you’re on a budget, you should always choose credit cards that offer the lowest interest rate possible so that you can pay them off as quickly as possible. Some credit cards entice you with 0% finance offers but you have to be aware of the rate when the promotion expires. Banks are not interested in helping you pay off your credit card balances, they’re only interested in getting the highest monthly finance rate possible from you. If you have some credit card debt you might be able to switch to another credit card with 0% interest rate but sometimes there is a fee to transfer your debt so read the fine print. If you have a credit card with a high interest rate. You can try getting a new credit card with a lower interest rate by shopping around at different banks. Just make sure it has no annual fees either.
Cancel a magazine: You can usually get a subscription to any magazine for free or at almost no charge. Almost all magazines now offer free subscriptions on their website so that you can read recent issues before signing up for a regular subscription. If the website doesn’t let you cancel subscriptions via the card linked to your account, then you’ll need to call them. Note that some magazines charge a fee if you cancel so call them first and make sure they don’t charge you anything!
Cancel a cellphone plan: This one is tricky, and there’s no easy answer to this question beyond “it depends” because it is a bit of a hassle to cancel your cell phone plans. Cell phones cost a pretty penny and maybe you can have a cheaper prepaid option? Or maybe switching to a different carrier is going to save you money.
Shop for insurance once a year: If you own life insurance, car insurance or health insurance, try shopping around for a better deal. Your rates may have gone down since your last renewal. Or you may find that another company has better rates. We tend to get complacent with our current insurer and we don’t shop around every single year. This is one area where many people fail to save money because they don’t check in on their account to see if there are new options available.
If you need some motivation, don’t think about saving money as a hassle. Think about it as a fun game to see if you can win some money. Because, after all, it is your money and you should aim to keep some of it so you can spend money where it matters the most to you.
