THIS POST MAY CONTAIN AFFILIATE LINKS. PLEASE SEE MY DISCLOSURES. FOR MORE INFORMATION.
Are you looking for ways to reduce your monthly spending and free up more room in your budget?
Are you tired of feeling like your money goes out faster than it comes in?
We’ve all been there.
It can be difficult and overwhelming to adjust your spending habits to create a comfortable budget that won’t leave you feeling stressed out.
Let’s explore 12 strategies to help reduce your monthly spending, from tips on creating a budget to advice for cutting down unnecessary expenditures.
#1. Streaming Services
To streamline your streaming experience, consider committing to one streaming service instead of several.
Rotate services by using only two services at a time, giving you more choices without costing so much.
Try free services such as YouTube TV to save money while making the most of your entertainment choices.
#2. Repurpose Old Items Instead Of Buying New
Upcycle old items like jars and coffee cans into useful organizers or storage containers.
Repair broken items or need to be mended instead of replacing them.
Host a fun clothing swap event with your friends to trade clothes that no longer fit or to freshen up your wardrobe.
#3. Eating Cheaper Strategies
Preparing meals for the whole week, with the same dish for multiple nights, saves money on recipe ingredients.
Use coupons when eating out and take home leftovers for another meal.
Choose to eat out on a night when there are restaurant deals, like Taco Tuesdays or family night specials.
#4. Grocery Shop Weekly
Take advantage of the savings by clipping coupons from your local newspaper or using online coupons and taking advantage of sales.
Purchase groceries in bulk, such as meat, to make dishes for several meals.
Investing in a freezer is a smart move to store extra meals or take advantage of on-sale items.
#5. Do It Yourself
Instead of taking your dog to a groomer, consider watching tutorials on YouTube and grooming your dog for a great bonding experience while saving money.
Rather than hiring a housekeeper, gather your family to tackle those household chores together.
Giving your car a thorough wash saves you money and ensures a pristine finish after investing some time in detailing it.
#6. Cut Auto Expenses
Optimize your gas savings and prolong the lifespan of your vehicle by carpooling with friends,
If you own multiple cars, selling your second vehicle not only saves on insurance and license fees but also encourages carpooling.
Consider comparing car insurance rates when your policy renews and explore the possibility of bundling your auto and home insurance for additional savings.
#7. Lower Utility Bills By Optimizing Your Energy Usage
Turn on lights only in the rooms you’re using and embrace the cozy darkness.
Embrace winter by turning down the thermostat and dressing in warmer clothes.
Do laundry only when you have a full load, and hang clothes outside on a clothesline for additional savings.
#8. Put A Limit On Frivolous Spending
If you enjoy window shopping, don’t make spontaneous purchases by not taking credit cards with you and limiting how often you shop.
To avoid impulsive purchases while browsing the internet, stick to websites that do not tempt you with purchase options.
If you feel the urge to purchase new clothes, take a moment to assess your closet and consider selling some items. Use the money you earn from the sales to treat yourself to new additions.
#9. Change Your Phone Plan
Shop for the best deals on phone plans at different companies and choose plans with add-on family plans.
When selecting a new phone company, opt for a plan that aligns with your phone needs rather than paying for unnecessary features such as unlimited data.
Contact your internet and phone service provider to inquire about bundled services that can result in significant savings.
#10. Work From Home
Opting to work from home can significantly reduce your clothing expenses, as you have the freedom to wear whatever you please during work hours.
It’s a given that you can save money on gas and car repairs since you won’t be using your vehicle for work.
Save money by preparing your meals at home or eating leftovers instead of dining out for lunch.
#11. Make A Plan And Stick To It
Start by creating a budget after looking at your income and expenses.
Use an app or notebook to track your weekly spending to see where your money is going.
To avoid paying high interest, only use your credit cards for emergencies instead of everyday purchases.
#12. Simplify Your Routines
If you adore indulging in pricey skincare products, consider reducing your collection to just a select few that you deem essential.
Give your skin a break by allowing your true beauty to show and trimming back to a simpler makeup regimen.
If your shower is cluttered with various body washes and hair products, consider using 2-in-1 products like shampoo and conditioner for super money savings.
Best Frugal Living Tips
There is a misconception that living frugally means living a miserable life.
But the reality is, most frugal people are happier and wealthier.
Here are some simple steps to start living frugally and be happier as a result.
Double Your Money Fast
Are you in need of money right now?
If you need cash in 24 hours, you might not think there is much your can do.
But you’re wrong. Here are the best ways to double your money in one day.
Fun Money Saving Challenges
Do you find it boring to save money?
If you are motivation by turning things into a game, check out these money saving challenges. There is a game for you that will make saving fun and exciting so that you make it a priority to save money.
21 Clever Ways For How To Stop Buying Things
Do you give in to impulse shopping only to regret it later?
Advertisers are good at getting us to buy on emotion but you have to stop if you want financial freedom.
Here are the best ways to stop buying things.
Free Samples By Mail
Everyone likes getting free stuff, but many times you have to fill out a survey. Here are some great ways to get free stuff without strings attached.
I have over 15 years experience in the financial services industry and 20 years investing in the stock market. I have both my undergrad and graduate degrees in Finance, and am FINRA Series 65 licensed and have a Certificate in Financial Planning.
Visit my About Me page to learn more about me and why I am your trusted personal finance expert.