By just cutting out some little things from your budget each week, it could save you thousands of dollars per year. Check out these 10 Spending Habits To Cut Out Of Your Budget To Save More Money
We all work hard to earn a living but do you really know where your money is actually going? You may be throwing away your hard-earned paycheck each month without even realizing it! By just cutting out some little things from your budget each week, it could save you thousands of dollars per year. Check out these areas to cut spending or areas to adjust your lifestyle to stay on budget and save more money (and sanity too)!
10 Spending Habits To Cut Out Of Your Budget To Save More Money
For a family of 5 the average dinner out costs us around $50. (sadly not many kids meals are being eaten anymore). When you add that up a few times a week it could be a huge budget buster. With a little advance planning you could save so much money each month and put that money into your emergency fund or that vacation you are saving up for.
It is ok to eat out once in a while, just plan for it in the budget and of course seek ways to save on the bill. Check out my tips for ways to save at restaurants.
Even if it is just a week at a time to plan your meals, it can save you money and time too! Meal planning means, no more figuring out what is for dinner last minute. Make your grocery store run only once a week to avoid those extra costs as well. On that last minute run for just milk or eggs you are bound to purchase other things that are not budgeted for. Make a list and stick to it. And if a full-out meal plan seems daunting- try “batch cooking” to start, something like my cooking ground beef in the crock-pot. < Life changing hack here! Having the meat cooked or veggies pre-chopped helps get dinner on the table faster.
Take a look at your cable and internet provider. Are you getting the best deal? Most companies run specials every 6 months or so. See if you qualify for those savings- and don’t be afraid to switch back and forth between providers to get the best price. Sometimes it is best to cut the cable all together. With services like Netflix, Hulu and Amazon Prime Video you may not need those pricey cable services at all!
Downsize Your Car
Do you need that big SUV? If not downsize to a more cost effective car that will get you better gas mileage. Also consider more carpooling opportunities to cut down on the cost of running around town to kids activities. Whatever you drive, seeing gas prices on the rise? Check out these tips for saving at the pump.
Stop Looking at Sales
Go to your inbox, how many emails do you get that are just sales for stores? Unsubscribe! Just because your favorite store has jeans half off and it will “save you money” does not mean you actually need them. These little impulse buys add up fast each month. Hubs often says, “Are you spending money to save it?” That’s a good reality check. Plus…
Buy Second Hand
Not everything needs to be brand new. Buying secondhand has never been easier with apps such as Facebook marketplace or letgo and online sites like ThredUp. Especially for kids clothing or toys, you could save up to 90% off retail. I love using Facebook groups to not only buy, but also sell second hand. Check out my tips for Facebook Garage Sale Groups.
Quit Bad Habits
Smoking and drinking can add up fast. If you can not quit the habit at least cut back some. Not only is it better for your wallet but it is also better for your health.
If you have a gym membership but are only going a few times a month, I suggest canceling it. See if you can use a friend’s guest pass instead if you would still like to go. Even offer to split the cost to use it could save you half each month. Also look at community recreation centers that might offer month to month options. That way you can pay as you go and maybe take advantage of being outside during nice weather.
Goodbye Costco and Sam’s. I know this will offend some, but paying for warehouse memberships might be costing you more than just the membership fees. Often, you can “buy in bulk” much cheaper by stocking up on sale items at regular grocery stores. See my tips for realistic stockpiling and how it can save your family so much on your grocery budget.
Bottled Water – Coffee Shops
Sure it is easy to grab a water bottle from your fridge or pick one up while you are out but each bottle adds up. Instead, invest in a nice reusable water bottle and fill it each day.
The same goes for your morning cup of joe. Instead of stopping at that over priced coffee shop on your way to work, make a pot at home and take it with you. Once again you will save time and money! And if you really need a Starbucks fix, turn your Ibotta savings into Starbucks gift cards.
The average cut, color and blow dry can add up into the hundreds. Instead of paying those high prices check out the beauty schools in your area. They are always looking for clients to help their students at a fraction of what you would pay at the salon. If you have kids or a husband with a buzz cut, see if you can cut their hair at home. I have been cutting hubs hair (and now one son too) for years. I save hundreds of dollars a year and again it’s a huge time saver too! Check out how easy it is to do a buzz cut!
Bonus Tip – Leave the credit cards at home and start paying with cash only! You may have heard this called the envelope system- placing budgeted cash into specific envelopes for each month. Statistic show that consumers tend to spend less when they are using cash – be cause they can “feel” it more. We “cut up the credit cards” more than 10 years ago after taking our first Financial Peace University class and have never looked back!
Try a few of these tips this month and see how much money you can save. What spending habits you have cut out of your budget this month?