This post may contain affiliate links, allowing us to earn a commission on the products we would recommend to our families and closest friends. You can find more info on our Legal Stuff page.
Thanks to fellow S&S reader, Emmie, for today’s post on easy ways to reduce spending.
Do you have a topic or a post you’d like to share? Contact Us!
Legit Ways You Can Reduce Your Spending (And It’s Easier Than You Think)
Are you stuck in a financial rut? Suffocated by a fixed income, bills mounting up and no spare cash for life’s little luxuries?
It can feel all-consuming, and leave us not knowing what to do. But there are ways you can reduce your spending to increase your disposable income. Here are a few of the ways you can do it. And it will be easier than you might think!
Compare bills and save money
One of the easiest ways to reduce your spending is to start comparing your bills and service providers.
Many people don’t take advantage of this simple financial fix. They think it’s more hassle than it’s worth. Or they mistakenly believe staying loyal to one company is always going to give you a good deal. But this is not the case. Most companies handle switching things over for you, and you simply need to choose the best deal and price.
Insurance products are one of the ways you can compare and save money. A quick search online for cheap auto insurance near me might help you to identify better deals. Energy is another big one where you can save big money by switching providers. You can even consider changing lenders for mortgages and other debt. Consolidating debt, where possible, into one payment could reduce your interest charges, which would reduce your monthly payment.
Work through your bank statement and understand every debit
If you are serious about saving money each month, you need to understand your bank statement and to be aware of every debit leaving your account. So many people can just look at what is left instead of understand what has left. Big mistake.
Is every expense justified? Or are you paying for subscriptions you forgot you even had? Free trials on the App Store? A gym membership you thought you had cancelled? Sound familiar? We have all done it. Know the debits and cancel any recurring fees for services or products you don’t need.
Changing personal habits
Finally, if you want long-term financial success, you may need to change some personal habits. Careful planning can substantially reduce daily expenses. Food is a perfect example. A meal plan and a shopping list can help you avoid buying things you don’t need. You could also compare brand and switch to save.
Pay attention to the way you use energy at home. Turn the lights off, put your computer on hibernate, and lower the heating a few degrees.
Small changes in daily habits can make a big difference to your finances over time. Enjoy the savings you’ll gain by cutting back on this unnecessary spending.
Comments (0)