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Like I said in my bio, I am here to make your life easier. I seriously love helping people get to financial freedom. I came up with a list of 10 things you can do that will save you HUNDREDS a month. They are all pretty simple. Little amounts add up to big savings.
1) Cell Phone: Chances are, you have been on your plan for a few years now, so, talk to your cell phone provider and see if there is a better plan out there that can reduce your cost. Cell phone companies are always upgrading their products and services. You may be paying too much.
2) Car Insurance: This is another category where people pay too much for what is being offered. You have probably been with your company for a few years, but they just might be giving new customers a better deal. Ask them to lower your rate and see what they can do. Shop around! Be smart about it, don’t just switch over for a better dollar amount monthly, you still want to make sure you are covered.
3) Cable: If you can’t cut out cable completely, I recommend getting with your cable provider to see if they can lower your rate. They may bundle in a feature, such as phone or internet to get that lowered. I have seen cable companies run many promotions at pretty low rates. Make sure you ask them if they do lower your rate, how long until it will increase again. Also ask them if there is a term contract for the new rate.
4) Utilities: Such as power and gas, can be set up on an “equal pay plan.” This takes the guess work out of your monthly budget, your bill will be the same the entire year. You have to have at least a one year history with your provider, so they can get an average. They also will re-evaluate your usage a few times a year to see if they can lower your bill. AWESOME.
5) Student Loans: Consolidate your student loans to get a more affordable monthly payment. They may even drop your interest rate if you sign up for auto pay.
6) Auto Loans: Talk to your financial institution. They will pull your credit and see if they can either refinance your loan over to them, (you already do your banking there, why not have your auto loan there too) or get you a better rate for existing loans. There may be a change in term fee, or a re-title fee that goes with this. The fees are very doable, and they will include them in your loan, which means no out of pocket expenses for you. You’ll just want to make sure there isn’t any early payoff penalties.
7) Consolidation for Credit Card Debt: If you do have credit card debt, no matter how big or small, try to get a consolidation loan. A consolidation loan will combine your loans together, not only leaving you with one monthly payment, but a light at the end of this credit card debt tunnel.
Now that we have talked about bills, lets talk about activities.
8) Fast Food: Try to limit your fast food intake to just on the weekends. I have found that many people will go to the grocery store, with good intentions to make meals, but then forget to pack a lunch and have fast food anyway. Not only did you just spend all that money on groceries, but you are also spending so much money on fast food. Seriously, add it up. You’ll be surprised how much you spend on food. If you stick to having fast food on the weekends, you will save so much money!
9) Morning coffee runs: Let’s just say you go to your favorite coffee shop every morning on your way to work. On average you spend $3.25 a day times 5 days a week, is $16.25 a week. Which translates to about $75 a month, just for coffee. That doesn’t include the little bagels, muffins, or whatever else they sell there. Try to do two less trips a week, or make your coffee from home. You can do it, and that is more money back in your pocket.
10) Date Nights: I seriously believe that date nights are a must. My favorite dates are when we rent a Redbox and just veg at home. I love dates that are cheap. See this awesome list of cheap date ideas from a fellow blogger.
Little changes add up to big results! What are some of the ways you have cut spending? Leave them in comments below.