Recently I decided since I was debt free I should focus on saving money. It’s a great feeling to be debt free but I also really want to be able to feel comfortable with have money in the bank. This means I need to save more money.
I plan to save money by cutting expenses.
I barely have an emergency fund these days and that’s making me nervous. I don’t want to get back into deep debt again.Having a cushion of savings will help prevent that from happening.
In my quest to save I decided to finally do what everyone recommends – cut expenses!
Yes, it seems a bit backwards to cut expenses AFTER I’ve gotten out of debt. But really I’m only cutting out things I’ve been spending money on but not using. I’ve been reading a cheap kindle ebook 25 Tips for Cutting Housekeeping Expenses that made me realize there are quite a few ways to save money by cutting expenses on every day expenses at home.
Cutting My Expenses To Save Money
Here are the things I’ve cut out of my budget to save money:
- Cable – My mom got me cable as a nice gesture but I ended up not needing it at all. I rarely watched it except as background noise. It’s fun to put HGTV on in the background but do I really need to pay so much to do this each month? I do have a Netflix account and watch a lot of things on Hulu so ditching cable was an easy decisions.
- Gym membership – I WANT to be a person who goes to the gym every day. I used to be this person and I probably will be again. However I’m not that person right now. I’ve had a gym membership for 6 months and I’ve been there less than a dozen times. Even though it’s a cheap membership it’s still not worth the expense.
- Internet – I agonized over this one because I love the internet. I’m a blogger, I like to read other personal finance and fashion blogs, and I just like having constant internet access. However, cutting the cable from my plan made my internet costs more than double (suck it Comcast). I looked at my monthly usage and realized I don’t actually use internet at home that much. That helped me cut the cord. I have internet access all day at work, I have internet on my phone, and I have an ipad with internet access paid by work. I think I’ll be fine.
Cutting these three things that I barely use in my day to day life will save me roughly $150 a month. It makes me feel insane to think about the fact that I’ve been spending that much on things I don’t use. It’s also exciting to think that I’ve corrected my action, cut my expenses, and will now be able to save all that money every month.
Other Ways To Save Money By Cutting Expenses
There are even more ways to cut expenses and save money that I might explore in the future. If you are trying to save money these ideas might help you.
You can save money by cutting these expenses:
- Cut cell phone expenses by using a prepaid or smaller plan.
- Remove your landline if you have one.
- Lower your heating bill by keeping it cooler in the winter.
- Lower your electric bill by always turning off lights and appliances not in use.
- Cut your grocery bill by eating more rice and beans.
- Make a grocery list based on buying food on sale.
- Start using coupons to save on your grocery bill.
- Shop your closet and make new outfits instead of buying new clothes.
- Move in with a roommate to cut all expenses.
Resources To Help You Save Money By Cutting Expenses
I recommend getting a few different resources with great ideas for saving money so that you can continue to learn new ways to cut expenses for savings. Below are some free and cheap kindle books about saving money that will help you:
- How To Save Money: A 21-Day Challenge To Save $500/Month
- 925 Ideas to Help You Save Money, Get Out of Debt and Retire A Millionaire
- Great Tips To Help You Save Money And Get Out Of Debt – Money saving tips
- Extraordinary Uses for Ordinary Things: 2,317 Ways to Save Money and Time
I plan to continue learning how to cut expenses and save money. Lowering my monthly expenses has allowed me to do a lot of new things and worry less about having a lot of money. It turns out that I don’t
Let the savings begin! Have you ever cut any of these expenses to save money monthly?