Everything costs something. Living is not cheap, especially if you’re spending money on non-important items. You can easily save money in many areas of your finances by cutting spending throughout your daily life. Here are a few places where you can start.
Eating out for Lunch
An easy way to save on costs is to pack your lunch every day. I know I just admitted that I like to eat out, but I try to do this as a social event or special occasion. I still do a weekly grocery shop and buy enough to make and bring a lunch from home every day. This may mean changing your daily routine, or spending a bit more time on Sunday night cooking a bulk meal. This is not to say that you cannot treat yourself every once in a while, but by making a habit of packing a pre-made lunch, you will cut a significant amount of daily, weekly, and monthly expenses from your budget.
Morning Coffee
Similar to packing a daily lunch, invest in a coffee maker at home. A daily latte at your local coffee shop can easily become a few hundred dollars a month without you realizing it. Save yourself some time and money by making your coffee at home and bringing a travel mug with you on your way to work. Do you need multiple caffeine hits during the day? Talk to your workplace about buying a coffee maker (chances are, they already have one), or upgrading to something that provides a nicer taste.
Extra Services
Take the time to look at what you are paying extra for. Do you hire out for landscaping, or housekeeping (I do!)? Do you pay for private lessons, or a gym membership? You do not have to get rid of these services all together, but consider where you can cut back, especially if you are not using them or taking full advantage of them. Can you hire the landscaper once a month, while doing upkeep yourself in the interim? Do you go to the gym every day, take classes, and using the cardio room or the weight machines? Look into cheaper membership packages, or try home workout videos. A gym membership can be a costly fee if you only spend once a week on the treadmill.
Overpayments for Insurance
Shop around for your insurance. You might be paying a premium price for coverage and services that could cost less at another provider for the same package, especially on your car insurance. Overall, you could be saving up to $100 a month or more by switching to a cheaper provider. Saving on car insurance is an easy way to cut expenses. Shop around and compare packages that offer the same coverage.
Extra Fees
Pay attention to hidden fees. Will you be charged for making a payment a day late? You can save yourself some extra money by paying on time, or asking for an extension before the due date. Set yourself reminders to make payments the day before. Take out money at your bank’s ATM – why pay an extra surcharge when you can go a bit further to your institution? Putting in a little effort now can save you in the long run.
Saving on unessential expenses does not have to change your lifestyle completely. Taking little steps towards cutting these costs could mean eliminating them completely in the future.
