Save Money on Monthly Expenses
No matter what your income, on one wants to overspend on expenses. But, if you are on a budget, at some point the question comes into play – How to save money on monthly expenses. The answer is not simple, though a little bit of behavioral change, can help you find a lot of ways to save money on monthly expenses; and therefore strengthening your finances. Here are 10 great ways, illustrating, some easy ways to save money on monthly expenses.
1. PHONE AND INTERNET FACILITIES
- Don’t keep several phone lines at home when you can use a single cell phone to receive most of your calls.
- For internet packages, research different service providers and select a package based on your monthly service use.
- Try to use a WiFi device to connect with multiple devices including tablets, cell phones, PC’s etc.
- Use email and online chat to communicate with friends and associates to reduce costs on phone bills. Most landline phone services offer free long distance.
2. COUPON CODES
Today you can find several legitimate sites flooded with lots of coupon codes, offering discounts, points to receive free samples, free shipping offers, and much more. Sources like Groupon, are great to receive coupons for groceries, clothing, restaurants, and many other purchases. I caution you to make sure you absolutely need and can afford the discounted item. In other words, don’t get caught in the trap of purchasing items, just for the discounts. It is best to get manufacture coupons directly from the company or stores website to make sure they are legitimate.
3. DIY METHODS
Maid Services: Many people are busy, and therefore hire out home services. Some of the services are affordable, but some are not. One of the most common services hired on a regular basis is a maid for cleaning services. You can place cleaning chores on a schedule and do your own household chores. This will require a bit of effort, but the weekly savings is substantial.
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Laundry Services: Do your own laundry. Some folks get so busy, they drop off laundry to have it done at a Laundry Mat. Do your own laundry, while you are watching TV or some other mundane activity. Dry cleaning is another story, some clothes must be dry cleaned, check to see if some of your dry cleanable clothes can be carefully hand washed to avoid the dry cleaning bill.
You can apply DIY methods in a lot of areas of household tasks; including general household painting, sewing your clothes or curtains, decorating your home, making small fancy items such as bags or belts. Always make sure you have conducted detailed research before implementing DIY projects. There is qualified research all over google.
4. ELECTRICITY BILLS
Many people do not realize the importance of resorting to research, for saving money on electrical bills. If you are eager to know the many ways to save money on electrical bills, then here are a few tricks you can follow.
- During the winter you can keep the windows closed and let the light come in during the day, avoiding the use electrical lighting.
- Some LED lights, chargers, and appliances are available with solar panels that help you charge devices or energize light, using solar energy. This will help you save money on electrical bills.
- While purchasing electronic appliances, choose products with a five-star rating that consumes minimal energy.
- While using a water heater to warm up water for washing utensils, clothes, or bathing purposes, the maximum temperature required is 120 degrees. Lowering the temperature settings to this level helps to cut cost on power usage. If you will be out of town for an extended period of time, you will definitely want to lower your hot water heater settings.
- Always remember to turn off appliances when they are not in use, or switch off the lights when you are not in the room.
5. USE REWARDS CREDIT CARDS
There is competition among the credit card providers that prompt them to offer cash back and discounts on the products purchased using your card. Hence, if you are shopping in a mall, you will have to pay the full price if you opt for cash/check payment methods. A credit card, used sparingly, can help you save up to 15% to 30% through discount offers. I caution those who have spending addictions, to use cash instead, so they will not overspend. The airline rewards can be substantial if you are in a business of frequent travel or other business spending where a credit card is necessary.
6. REDUCE COST OF FUEL
The fuel costs are rising with undue intensity. Expenses on gas for cars, homes, and other uses can be controlled, but with work.
For saving money on cooking gas you can either use solar if you have the panels or use electrical kitchenware, such as a microwave or induction ovens to prepare food faster. Some municipalities offer a huge rebate for installing solar panels. In some cases, the rebate pays for the installation and cost.
While traveling to your office, schools and regular grocery shopping to locations near your home, avoid taking your car. Use public transportation facilities such as bus, train, tram etc. Alternatively, you can also establish a group of people who can travel in a single vehicle and share the fuel costs in a carpool.
7. FOOD ITEMS
You can save a lot of money limiting your expenses on daily grocery shopping.
Beverages: Avoid costly beverages at coffee shops or restaurants. Opting for a simple cup of coffee over a Cappuccino, can save $3 per cup, or roughly or $90 to $180 per month on 1-2 cups of coffee.
Office Lunch: Try to carry your lunch from home. This costs around $5-$20 everyday compared to the cost of preparing lunch at home can save you as much as $5-$10 per day.
Shop for Ingredients: Always purchase unpacked fresh fruits, vegetables, and unprepared food. They are cheap and healthy too.
- Research the opportunities to buy clothes during seasonal sales for greater discounts.
- Do not purchase too many clothes for daily wear that require dry cleaning.
- While washing clothes use mild detergents, cold water, and avoid dryers. All of these will add to the longevity of your clothes.
- Check your wardrobe before going out so that you purchase only necessary replacements. Save money by avoiding random and unplanned shopping, in other words — stay out of the stores, if you don’t absolutely need anything.
Friends and relatives are of great importance to everyone. So sending gifts and messages on special occasions such as birthdays, marriages, Christmas etc. is extremely important. Try to purchase combo packages that cost less. Wrap your own gifts, it is cheaper. While ordering gifts online, always take the “free shipping” option. Purchase less expensive items, and use coupons to reduce costs during the holiday shopping season. Create a holiday budget, and shop from your budget.
[sociallocker] Every year people spend a whole lot of money on watching TV, movies, reading books etc. The expenses with monthly cable bills, can be far more expensive than watching free TV online. Be selective in watching new films and use coupon codes to receive discounts on movie ticket prices.
For watching old movies, get free videos from your library. You can also get a library membership for reading books for free, of course and using their computers.
While passing through financial crunches, people often wonder- “How do I save money on monthly expenses”, on daily living, while at the same time, taking care of themselves of their family. A little bit of budgeting and wise spending can help you save a lot of money without compromising the essentials or your lifestyle.[/sociallocker]
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