The start of a new year is a good time to review your finances and decide if you can trim some expenses to save money. Look for ways you can save more and spend less.
Streaming Services
Throughout the year we might sign up for free trials and forget to cancel when the trial period ends. Review the services you are currently using and decide if you utilize them enough to justify the cost. With so many free streaming options available you may be able to watch TV for free. Cut the Cable and Paid Streaming Services and Watch TV for Free
Gym Memberships
Often people sign up for a gym membership at the beginning of the year but find that they don’t use it enough to justify the cost. Could you exercise at home instead? You might pick up a set of weights, watch YouTube workout videos and take walks instead of paying for a gym membership.
Magazine & Newspaper Subscriptions
Review your subscriptions and decide if you still want to pay for magazines and newspapers. With so much available for free online you may be able to utilize those resources instead of spending money on subscriptions. Your local library is an excellent source for borrowing. Libraries offer more than just books, you can borrow digital content, magazines, newspapers, movies, music and more. Utilizing your Public Library
Eating Out
Fast food, coffee shops, pizza and dining in restaurants can really add up. If you regularly eat out or order take out, consider cutting down. Instead of buying your lunch each day at work, pack lunch. Pack lunch for your children instead of buying school lunches even if you do it just a few days a week. Make coffee at home and take it with you. Spend a few hours each weekend prepping meals for the week so they are ready and easy to heat up when you get home from work. Make your own pizza instead of ordering out. Not only will you save money but preparing your own food is a much healthier option.
Warehouse Club Memberships
Warehouse clubs are great places to buy in bulk and stock up on the items you use often but review your spending and decide if the membership fee is worth it. Most warehouse club members are looking to save on gasoline, bulk purchases of nonperishable items and on big individual purchases such as tires or electronics. If you are regularly purchasing and saving on those items, the club membership fee may be well worth the cost.
Phone Service
Shop around for less expensive service, consider how much data you really need and decide if you are overpaying. You can connect to Wi-Fi at home and at work instead of using your data plan. Buy an unlocked phone that is not tied to any specific carrier, that way you can easily change providers when you find a better deal. If you are still using a land line in addition to your mobile phone decide if you still use it enough to justify the cost.
Entertainment
Review your spending on entertainment, most of us can cut down significantly on entertainment costs. There are tons of free ways to have fun. Even cutting down by just a small percentage can save a lot of money over the course of a year.
Credit Card Fees
If you don’t pay your balance in full each month you are paying interest which is a huge waste of money. Use your credit card as a tool to build credit and earn rewards. Don’t put anything on your credit card that you cannot afford to pay in full each month. Choose a credit card that has no annual fee and offers reward points. Establish and contribute to an emergency fund for unexpected expenses instead of charging those to your credit card.
Bank Fees
If you are paying the bank to use your own money stop. Shop around for a bank or credit union that offers free checking accounts and does not charge paper statement fees, overdraft fees, ATM fees and other unnecessary fees.
Late Fees
Set up autopay or reminders so that you pay your bills on time, every time. Paying late fees is like throwing money away and it has a negative impact on your credit score.
Cleaning & Lawn Care Services
Are these things you can do yourself? With a bit of planning and scheduling most of us can find time to clean our own house. Break the chores down into manageable chunks. The same goes for lawn care. If you have the time and the right tools, maintaining your own property can save money.
The Tech Minimalist 