Creating (and sticking to) a budget is the easiest way to ensure you’re living within your means. You may be struggling to make ends meet if you’ve never paid attention to where your money is going. So if you’re living paycheck to paycheck, it’s time to trim the fat.
Keep reading to find four tips that will help you reduce your monthly bills.
1. Consider Alternative Energy Sources
Solar energy is the future. When you opt for a solar power system, you’ll get long-term subsidy benefits and see reduced costs on your electricity bill. Not to mention all the good you’ll be doing for the environment.
While installing a solar power system can be pricy, you’ll save big bucks in the long run. The folks at Blue Raven Solar project savings of up to $50,000 over a 25-year period.
2. Reconsider Your Vehicle Situation
Do you live somewhere where you could bike to work all (or some) of the year? Do you have access to a comprehensive public transit system? Does your family have multiple vehicles when you could probably get by with one?
One of the best ways to manage your finances is to cut out big expenses. Owning a vehicle can get costly very fast. When you consider finance payments, gas, maintenance, parking fees, and car insurance, you’re looking at almost $10,000 a year on average.
3. Look at Your Entertainment Expenses
Take a tally of how much money you’re spending every month on entertainment.
Do you have an expensive country club or gym membership? Are you subscribed to Netflix, Crave, Disney+, and ten other streaming services you never use? Do you drop hundreds of dollars on new books and clothes every month?
If you’re anything like us, chances are entertainment takes up a good chunk of your monthly expenses.
If you never use your gym membership, cancel it. There are many free workouts you can do from the comfort of your own home on YouTube.
Ask yourself which streaming services you use most often. Do you need to pay for cable and all those streaming apps?
Instead of buying new books or clothes, scour secondhand stores or online garage sale websites. Find great deals and reduce your carbon footprint? Sign us up!
4. Eat Out Less
We know what you’re thinking — “eat out less?! Blasphemy!” — but, hear us out. Dining out less is one of the easiest ways to save money this year. The average American family will spend around $3,000 in restaurants every year.
If you want to lower your bills, get creative when feeding your family. Buy non-perishables in bulk when they’re on sale and start clipping coupons. Plant your own garden to harvest throughout the year.
Canning is a great way to preserve food and is very eco-friendly, too. The taste is unbeatable and you’ll always know what you’re putting in your mouth.
Lowering Your Monthly Bills Is Easy
Lowering the cost of your monthly bills doesn’t have to be complicated. By making small, simple switches in your everyday life, you could be saving yourself hundreds of dollars a month. Implement our ideas above to start saving today.
Keep reading our blogs for DIY projects you can do to save money around the home.