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How To Lower Monthly Expenses Today

December 5, 2020 By: Sweet Frugal Lifecomment

Easy ways to reduce monthly bills.

Are you feeling stressed about your monthly bills?  The expenses keep coming in yet the income is staying the same?  I have been there!  I have felt the stress of not feeling like we will ever have any extra money.  It’s not fun!  I learned quickly, and a little begrudgingly, that in order to eliminate this finance burden in my life I would need to cut some things from our monthly expenses.  And guess what!  It worked!  I was able to eliminate a few things and clear up some extra room in our budget!  Here are 11 Things you can do TODAY (yes, do them right now!) to reduce monthly bills and save more money!  I’m so excited to tell you how to lower monthly expenses today.

Cut costs on your monthly budget so you can have more money. frugal living help | how to have more money | how to get out of debt | how to save more | budget help #budgeting #budgettips #savingmoney

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Why You Need To Lower Monthly Expenses

You might be wondering why you should take the time and hassle to lower your monthly expenses.  Maybe you feel like you are doing pretty good financially, and don’t want to add any extra stress to your life.

These are legitimate thoughts!

However, I want to present to you a few reasons why the effort and sacrifice just might be worth it!

Pay Off Debt Faster

Do you have debt?  Maybe it’s some lingering student loans, or perhaps a few extra charges on the credit card.

You might not realize it right now, but this debt is holding you back financially.  That extra money you have to pay towards interest each month is money that you have earned, and you deserve to keep it to use for something else!

Once you have paid off your debts you are able to begin saving, spending, and planning for expenses that are important to YOU!  Becoming debt free is one of the best ways to relieve financial burden and finally take charge of your money.

When you cut your monthly expenses you will be able to have extra cash to pay off your debt quicker, putting you one step closer to that sweet financial freedom you deserve.

  • Related:  How To Pay Off Debt Using The Debt Snowball or Debt Avalanche

Save For A Large Upcoming Expense

If you have any large upcoming expenses, such as paying for braces, buying a house, or a new child on the way, lowering your monthly expenses is a great way to save up for that expense.

When you make a few of the changes I suggest below you will have some extra cash that can be used for the big life events that you might have coming up.

  • Related:  Baby on a Budget: A First Time Parents Guide to Saving Money

Save For Something Fun

Another great reason to lower your monthly expenses is to be able to have more money to spend on something fun!

Maybe you like to vacation.  If you were able to have an extra $200/month, you could put that money into a vacation sinking fund and in a year you will have enough money to take a small vacation.

This didn’t require earning more money or putting the vacation on the credit card, all you had to do was cut some expenses and use that extra cash for something fun!

Imagine the fun things you have been wanting in life, when you do the work to lower your bills, you are giving yourself a chance to afford the fun things in life!

 

How to Lower Your Utility Expenses

Lowering your utility expenses is one of the easiest expenses you can cut.  It doesn’t require very much extra effort, and can have a huge impact on your finances.

1.  Reduce Your Home Thermostat

Consider lowering your house thermostat by 1 or 2 degrees during the day and 10 degrees at night (just pile on those blankets and flannel pjs!).  We keep our thermostat set to around 68 in the winter and 78 in the summer. 

By making this one simple change you can save up to 10% on your electricity bill!  Quick, go lower that thermostat asap!

2.  Switch to LED Light Bulbs

If you haven’t switched out the traditional light bulbs in your home for LED light bulbs now is the time to do so.  LED light bulbs are more expensive upfront, but through time the savings is huge and well worth the initial cost!  This 6 pack on Amazon is a good deal at $17.

The great thing about LED light bulbs is that they last forever!  Ok, I might be exaggerating a bit here…they don’t really last forever.  But they do last for a very long time!  As a matter of fact LED light bulbs lasts 5 times longer than regular light bulbs.  This means buying less light bulbs which will save you money (yay!).

The other great thing about LED light bulbs is that they use much less electricity, which brings down the cost of your electric bill.  Just one regular light bulb will cost you $15 a year.  One LED light bulb will only cost $6 a year.  Multiply this number by the amount of light bulbs in your home and you will see a huge savings.

3.  Lower The Temp on Your Hot Water Heater

Double check the temperature on your hot water heater.  Lower the temperature down to 120 degrees.  This is low enough to see a savings in your monthly bill, but high enough that your showers will still feel warm and your dishes will get cleaned.   For every 10 degrees you lower your hot water temp you will save your family about 3%.

  • Related:  8 Ways to Save Money on Utilities This Winter

 

How to Lower Your Household Expenses

It’s no secret that running a household is expensive!  However, there are a few things you can do to help bring down these costs.

4.  Switch your Cell Phone Carrier

Shop around to multiple cell phone carriers.  If you have been with the same cell phone carrier for a while it might be time to switch.  Most cell phone carriers will offer you a good deal for being a new customer, all you have to do is ask!

Your original cell phone provider might even match the deal when they find out your considering switching.  Don’t be afraid to negotiate a little!

Last year our family started using Tello Mobile.  Plans start as low as just $6 month and we have been so impressed with the coverage.


The wireless network you deserve

  • Related:  Frugal Cell Phone Provider; My Honest Tello Mobile Review 

5.  Negotiate Your Homeowners Insurance

Ask your insurance provider for special discounts on homeowners insurance.  Most will be willing to offer you a deal if you bundle with your auto insurance.

You might also get a deal if you have a security system, have retired recently, been with the same company for a long time or updated your home to make it more disaster proof.  My motto is that it never hurts to ask!  Remember, everything is negotiable!

Don’t be afraid to shop around for different providers while you are at it.  You might be able to find a cheaper rate somewhere else.

 

6.  Pack a Lunch for Work

One of the quickest ways to lower your monthly expenses is to stop going out to eat.  Eating out regularly is very expensive.  I have found it important to make a meal plan each week and stick to it.

If you consistently eat out for lunch while at work, start packing a lunch from home instead.  Give your co workers a polite, “no thank you” to the lunch invites and eat a lunch from home.

My husband loves to take dinner leftovers in his lunch.  Whenever we have leftovers, we just proportion them into lunch sized servings and stick them in the fridge.  This makes it easy to grab and bring to work, and tastes much better than a sandwich!

 

How to Lower Entertainment Expenses

Another budget category that is easy to lower are entertainment expenses.  Entertainment usually falls under the want category, making it easy to stretch a little thinner if necessary.

7.  Cancel All Subscriptions/Memberships

Look through all of your monthly subscriptions and memberships.  Pick a few (or a lot) of these subscriptions to cancel immediately.  You just might be surprised how quickly the extra money adds up from this simple switch.

Don’t forget these common subscriptions/memberships:

  • Gym Membership (try one of these free exercise ideas instead)
  • Netflix
  • Amazon Prime
  • Hulu
  • Disney Plus
  • Magazine Subscriptions
  • Music Streaming Services
  • Beauty Box Subscriptions

If this feels like a huge sacrifice to do all at once, try cancelling just one or two per month.  This will help you ease in to the change.  Just don’t forget to keep canceling something new every few months!

8.  Cut Your Cable

Do you still have cable TV?  Get rid of it to save an extra $40-60 every month. 

We did this a few years ago and I thought we would miss it (especially the DVR).  Fortunately we actually haven’t missed it at all!  There are so many other affordable ways to relax and watch TV.  A few of our favorites is to rent movies from the library and use Netflix.

  • Related:  What we cut from our budget to save over $2500 a year

 

Other Ways to Save

Now that you’ve reduced your entertainment, household, and utility expenses there are still a few more things you can do to free up some extra money.

9.  Increase Your Auto Insurance Deductible

Consider increasing your auto insurance deductible.  This will result in a lower monthly premium, saving you money each month (which is what we want!!).

Just be sure you have enough money in your emergency fund to cover the deductible in the case of an accident.

10.  Ask for a Lower Credit Card Rate

If you have any credit card debt call these credit card companies and ask for a lower monthly interest rate.  Most companies will be willing to honor this request if you have been paying on time each month.

I know this can be a scary phone call to make, but really the worst thing they can say is, “No”, right???

  • Related:  5 Bills You Should Negotiate

11.  Sell Clutter Around Your Home

Use your clutter around your home to make a little extra money!  Take an hour today to sort through your home and use a few online platforms to list a some of your clutter for sell. 

My favorite quick-to-sell place is Facebook Marketplace.  Most items I list for sell on Facebook sells within a few hours.  Use this extra cash to help pay for your bills this month.

Try to make a goal to sell a 2-5 items every month.  If you have any debt this is a great way to get this debt paid off a little faster.

  • Related:  10 Items In Your House You Can Sell Quickly To Make Money

In Conclusion

You do not need to implement each of these ideas into your life immediately, just pick a two or three to do today and then pick a couple more to do tomorrow.

These small simple changes will make a big difference over time.

Liked this article?  Be sure to pin it for later reference!

Do these 11 things today and lower your monthly expenses. budget tips | saving money | frugal living | monthly budget | how can i cut costs from my budget #frugalliving #frugaltips #budgettips

what can I do to have more money each month

I hope this article helped you get some ideas about how to lower monthly expenses.

 

 

 

 

Even More Ways to Cut Your Budget

April 14, 2020 By: Sweet Frugal Lifecomment

Looking for more ways to cut your budget?  This is for you!

I’ve been thinking a lot lately about budget cuts.  I get a lot of comments and messages on Instagram; and a few of them just break my little heart!  These messages are from those that feel they have done every single thing they can think of to find extra money in their budget, but there is just nothing left to find.  These people have cut ALL unnecessary spending, only paying the bare minimum to live and they STILL can’t find any extra money in the budget.

If you can relate to this in any way; I want you to know that I hear you.  Financial stress is one of the scariest and hardest things to go through.  This article is for you.

I am a member of online affiliate programs.  I may receive compensation for purchases made through links in this post.  All opinions are my own.

1.  Make a Budget

If you don’t already have a budget, make one!  This step seems obvious, but it is a step often skipped.  It’s easy to assume your spending is minimal enough that a budget won’t change anything (I know this, because I use to be one of those people!).

I’m here to tell you that your budget is EVERYTHING when it comes to overspending!  Even if you think your spending is already under control, I can guarantee you will spend less if you have a budget in place.

Don’t know how to make a budget?  Read my article, Zero Based Budgeting, and grab yourself my free budgeting cheat sheets below!  These two resources will give you everything you need for a successful budget.

 

 

2.  Check Your Budget ONE MORE TIME

I know that you have probably looked through that budget a bunch of times this week.  But, I want you to look one more time.

Try to look at your budget with a new eye.  I have found when I am desperate enough, we can usually find something else to cut from the budget.

Here are a few ideas to look for:

Monthly Subscriptions

Do you have any subscriptions you can cancel?

Often we are willing to cut out the cable, but leave Netflix. Now would be the time to consider cutting out the other TV subscriptions, such as Netflix, Hulu, etc.  Instead, rent movies from the library for free, or spend your time doing something other than watching television.

Other subscriptions to cancel are:  subscription boxes, magazines, etc.

Smart Phones

In today’s day and age it is hard to function without a smart phone, I get it!  However, I do know a lady who does is able to do it!  This sweet lady has a cheap flip phone, and a cheaper phone bill because of it!  Could you consider getting rid of that smart phone and the huge monthly data plan?

If canceling your phone plan completely doesn’t feel right, consider switching phone providers to a more affordable option.

We are currently using Tello mobile.  Our unlimited talk and text plan only costs us $5/month.  It’s the best thing ever!

  • Related:  Frugal Cell Phone Provider; My Honest Tello Mobile Review

Internet

If you truly feel that you MUST have a smart phone (no judgement, I totally feel that way!), consider getting rid of your internet service.  If you’re not streaming movies, and you have internet available on your phone; this can be a great solution to get an extra $50 a month.

My husband and I went without internet for about 9 months, and it was hard, but we got use to it.  The library was an absolute lifesaver during this time.  Once a week my laptop and I would take a trip to the library, plop down on a chair, and use their free WIFI to take care of all of my internet needs.

It wasn’t easy, but we made it work, and you can too!

Fuel

I get it.  You’ve got places to go and things to do; and unfortunately fuel is expensive.

I’m not going to suggest you stay home and never go anywhere (I mean, you’ve gotta earn a living and live a life, right?).

What I am going to suggest is to look at ways to consolidate your driving.  Consider shopping at a store closer to you, or buying online instead (use free shipping!).  Plan your errands for only once a week, and try to only drive to one area and get everything done in just that area.

I was talking to a friend a few years ago, who was very poor, and I mentioned to her about a free kids playground she could take her kids to (it was on the other side of town, about 15 minutes away).  She told me that fuel in her car is just to expensive, and so she tries to not drive that far away.

It was such a good example to me about watching every penny spent.  I have been much more mindful of unnecessary driving habits ever since.

  • Related:  How To Save Money On Gas

Adjust the Temp

Turn your house thermostat down a few degrees in the winter, and up a few degrees in the summer.  Research shows that you can save at least 1% for each degree change.  We shoot for 68 degrees in the winter months and 78 degrees in the summer.  Honestly, we aren’t always perfect at this, but we try!

Another easy tip is to adjust the thermostat while you are sleeping, or if you will be gone for work all day.  If you don’t need that extra heat, there is no sense in paying for it!

Groceries

Groceries are one of the biggest expenses in most budgets; food is expensive!  But, it’s an area that can always be improved, if you are willing to put forth the work!

Here are a few ways I have been able to spend less on groceries:

Make a meal plan each week.

Making a thorough meal plan will save you money in two ways.  It decreases the temptation to eat out, and helps you plan meals based on what you already have at home (so you won’t impulse shop at the grocery store).

Cook from scratch.

Cooking meals from scratch, rather than buying prepacked meals, will save you HUGE in your grocery budget.  Consider making your own bread, snacks, etc.

If time is an issue, consider spending one day a week cooking a few meals to keep in the fridge or freezer to eat throughout the week.  Weekends are perfect for meal prep days.

Buy in bulk.

Watch for grocery sales offering you a huge discount when buying in bulk.  I love to buy my meat in bulk, and then freeze it in dinner sized portions.  This requires some time and effort, but can be a big money saver!

A few other cheap items to buy in bulk are:  snacks, cereal, canned goods, and paper supplies.

Use Cashback Apps

Cashback apps are one of my favorite ways to earn a few extra bucks.  Download as many as you can onto your phone and use each of them every single time you shop.  Here are a few of my favorite cash back apps.

  • Related:  10 Quick Ways to Lower your Grocery Bill

3.  Pay with Cash

Do you use cash for purchases?  If you don’t, I highly suggest you start!  Paying with cash is one of the best secrets to spending less and saving more.

I prefer the cash envelope system to help me keep track of my cash and spending.  It’s simple really.  Instead of pulling out my credit card every time I shop, I use my cash from the envelope instead.

It truly helps me to see where my money is going….and once the envelope is empty, I can’t buy any more in that category for the month.

If you are feeling a little hesitant to use cash envelopes, consider trying them for one week.  If you can see a difference in that week, try it for another week.  Baby steps!

more money

 

4.  Negotiate Your Bills

Your bills are negotiable!  Many companies are willing to work out a lower price when asked and given good reason.  We have negotiated a few of our bills with success every single time.  I always remind myself, “It never hurts to ask.  The worst thing they could say is no, so why not try.”

Many of your bills are just non-negotiable (like your mortgage), but there are some companies worth calling and asking for a cheaper rate.  You will see the most success with your:

  • Cable TV Service
  • Cell Phone Provider
  • Medical Bills
  • Internet Provider
  • Insurance Premiums

Keep in mind these tips during the negotiation:

  • Know your competitors prices, and don’t be afraid to mention them during the phone call
  • If you’ve been a long time customer, mention it!
  • Be polite, but firm in your request.
  • Don’t be afraid to ask multiple times.  You’ll be on the phone with different people each time, chances are you’ll get someone who will listen to you eventually.
  • Threaten to leave as a customer; this is when they really begin to listen.

For more details about bill negotiation check out this article.

5.  Increase Your Income

After following the above steps and you still can’t find extra money in your budget, it might be time to consider increasing your income.

Here are a few tips to help you do this:

Ask for a Raise

Prepare a statement to bring to your boss.  Explain why you are an asset to the company.  Give concrete examples to show exactly how you have  helped the company to be successful and earn more money.

Change Jobs

I know it’s not easy to change jobs.  It’s hard to start back at square one, get out of your comfort zone, and learn a new job.  But, look at the big picture.  If a job change will bring you closer to your financial goals, than it is probably worth the switch.

Find a Side Hustle

A side hustle is a job you can work in addition to the job you already have.  You might do this job during the weekends or evenings.  Anyone and everyone can have a side hustle, and I know many people who have multiple side hustles!  I LOVE side hustling!

If you’re needing some side hustle ideas check out the article, 12 Legit Side Hustles for Stay at Home Moms, for a few ideas.  Many of these side hustles are for ANYONE, not just stay at home moms!

Sell Unused Clutter

Look around your house.  I bet there are a few items you haven’t touched in months (maybe even years….).  You can easily sell this unused clutter to earn extra money.

  • Related:  5 Places Online To Sell Your Clutter and Earn Cash

6.  Go to the Extreme

If you are looking for even more extreme ways to cut costs, consider downsizing your home and car.

If you have a current car payment, sell that vehicle and buy a cheaper one with cash.  I know this is not the cool thing to do, I know it’s much more convenient to have a newer car.  But, I also know that being debt free is important!

The older vehicle will only be temporary.  Once you have saved up enough cash, you can buy a newer one again.

And lastly, move somewhere more affordable.

I know this will be difficult, but I also think it just might be worth it!

You can reduce your rent or mortgage by moving somewhere smaller and more affordable.  Look at the bright side…smaller also means less to clean (I like less cleaning!).

In Conclusion

I believe whole heartedly that when there is a WILL, there is a WAY.  You can do this!  Find a support system to help you through.  I’m always an email away!

 

Related Articles:

What we cut from our budget to save over $2500 a year

The 6 Step Plan to Stop Living Paycheck to Paycheck

11 Things to do Today to Lower your Monthly Expenses

 

Don’t Forget to Pin For Future Reference:

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how to find more money in the budget

You can cut your budget with these simple tricks!

Hello! I’m Melanie!

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