How to save money: ideas to lower or reduce expenses
Each month, you barely squeak by, some bills go unpaid. You pay what you can. It may be time to evaluate your expenses. Do you have a landline phone and cell phone? For one month, keep track of how many calls you and your family make on each. Most people find they don’t need the landline. I know you’re thinking: but I get Internet through my landline. Check with your cell phone company and see if your phone has a hotspot. Some cell phone companies also have an external hot spot, which maybe cheaper. Consider total phone bills, landline phone line and cell phone vs. just cell. Our total phone bills including Internet was $250 a month. Now it’s $160. That’s a savings of $90 a month.
Now let’s look at your T.V. bill? What do you watch on T.V.? Make a list. Most of us watch the news, movies and some watch soap operas. These can be found on the Internet. There is Yahoo News and local newspapers are also online. Need to advertise? Try Craigslist (it’s free). Need to watch a television program? try Hulu.com. Want to see a movie? Try Netflix or Qwikster or even YouTube. Amazon instant video is also available, but there is an upfront fee. Nevertheless, is still cheaper per month. We were paying $80 a month. Now we pay $17, a savings of $63.
Now let’s talk about the credit cards. Do you pay an annual fee? Consider changing to a card that doesn’t have an annual fee. To pay off your card sooner, find one that offers no interest for a certain amount of time, and then transfer your balance. Don’t forget to cancel your old card.
If you have your nails and hair done, try doing it yourself or have a friend do it.
Forgo that gym membership and take the dog for a walk instead or find a bike path. Usually go to a car wash? Have your kids wash the car for you. Need coffee? Make it yourself at home. Buy the more expensive beans if you must. You’ll still save money making it at home.
To save on your heating bill this winter, put on a sweater or change into sweats before turning up the heat. You could also use a space heater if you or your family are spending most of your time in one room.
To save on your grocery bill, plan a menu. Buy only the ingredients you need for the menu, and shop with coupons if possible. Car pool to the store. Find out if a friend needs to go to the store and take turns driving. When shopping at warehouse places like Costco and Sam’s Club, remember that just because you’re buying in bulk doesn’t mean you’re saving money. Shop around.
Taking your lunch to work is always healthier and cheaper than buying lunch or eating out.
If you need something, try Freecycle first. Freecycle is an online group where people give away things they don’t need. People in this group also ask for things they need. Check for a Freecycle group in your area. http://www.freecycle.org/
If you need it brand new, check store prices online and at other retailers like Amazon and eBay before purchasing it. You’re not only paying for the item but gas and time to get there.
When you run errands, plan your route so you’re not driving all over the place or backtracking.
One of my neighbors would drive 10 miles out of her way to get gas. Yes, she was paying a little less, but the time and gas it took to get there was actually costing her more. She was only “saving” five cents per gallon. With a 10-gallon tank, that’s only $.50 savings. She didn’t consider that it cost her $1.45 to get there.
One more tip. If you can do it cheaper, you should. For example, to have our trash picked up weekly, we were being charged $30 a month. If we took it to the dump, which turns out to be only twice a month, it costs between $5 and $7. That’s $10 to $14 a month.
If you come up with any more ideas to reduce expenses, let me know.