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When looking at your monthly budget, it is common to overlook areas where you may think can't get any lower than where these bills currently are. You have cut where you can cut. You have reduced as much as necessary.
I'm here to write that there are ways to reduce your monthly expenses so you can increase your monthly cash surplus.
How helpful would it be to free up some extra cash flow to pay towards debt?
This is especially helpful if you are living pay-to-check like many of the majority in this country are. Whatever the case may be or your reason, lowering expenses and debt should be priority every time you sit down to review your monthly budget.
Here are some overlooked ways to reduce your monthly expenses. Also check out our online course with Udemy, 4 Ways to Payoff Debt. Use Promo Code: DOLLAROTTER10 for a discounted price.
1. Reduce Your Cable Bill.
Ouch! Everyone usually hates it when I say that and I get it. I too was at this point but cable is so expensive. It is one of those bills, in my case, where I paid over $100 a month and was watching 2-3 channels. When I put it into perspective about how much I really watched TV, it became a unnecessary expense.
Fortunately, I discovered the Amazon firetv stick which combined with my current Amazon Prime subscription, provided enough channels for me and the kids. It is a simple plug into the back of your TV, connect to WiFi and you are all set. It is compatible with NetFlix and I was able to load my favorite three channels.
Also I purchased a RoKu to give it a try and I absolutely love this one. There are so many free apps you can download to watch channels. It syncs with my Google Play movies and shows and much more. I have a 4K HD TV and the quality on the picture is superb. The final benefit is no monthly bill which in monetary terms, money saved!!
2. Call Around For Insurance Quotes
You may be surprised at how much you can save by making a few phone calls or conducting internet research on insurance quotes. Any quotes where you can save money, whether, life, auto, home, etc can save you a few hundred dollars a year. I did this recently with a local firm and actually discovered that I was overpaying on my life insurance. So I swapped for less per month and my coverage increased.
This 15-minute conversation saved me over $300 a year because I conducted my due diligence. You can obtain a FREE health insurance price comparison online for individuals or families in this link Insurance Quote, and if you are in the Texas area, contact me for a life insurance quote. For life insurance outside of Texas, I can put you into touch with someone outside this state to assist you as well.
3. Lower Your Grocery Bill
Last year I discovered the magical power of savings from meal planning and preparation. One of my favorite choices because I have an active lifestyle and like to eat healthy is PlateJoy.
Because I'm pre-diabetic, PlateJoy offers a special meal plan just for people with similar dietary needs. They customize meal plans starting at only $8 per month. I then take the custom shopping list and and make my grocery orders online with Wal-Mart.
It saves me time and money because Wal-Mart has the food ready for me so when I pull up to the reserved location, the friendly Wal-Mart team greets me and loads my groceries. You can get $10 off PlateJoy Weight Loss Plan with promo code: LETSDOTHIS
By charting out a few weeks ahead of time on dinner plans, it makes for an easier grocery list and preps time to find online coupons. I don't spend much time on couponing because you can easily get lost in that world and all of a sudden 8 hours went by but I clip when I can because this is free money.
Also, looking at cheap meal plans online can save you time and money plus you'll have leftovers for lunch. My monthly budget on food went from $750 to $400 by utilizing this message. I couldn't believe it so give it a shot plus didn't realize that I was spending this much on food.
4. Shop Around On Fuel Prices
One thing that I hate doing but I force myself, is shopping around for fuel prices. When I had my F150, this was imperative filling when it came to filling up my 30-gallon fuel tank twice a week. In this case, every dime counted.
I started using an app called Gas Buddy to assist me in this savings venture. If I am going out of town or looking for fuel prices, the app will either list out from cheapest to expensive or nearest location to furthermost gas station so that I can determine if it is worth the trip. I usually save around $0.05-$0.12 per gallon doing this.
When it comes to saving money, you have to remember that every dime counts. Not to sound overly frugal or like I have a tight wallet, but if you have debt, then you have to focus on paying that off so frugality is a priority because You Can't Afford Not To Be.
Remember to stay motivated and stay positive.
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