Figuring out how to spend less money is one of the biggest challenges when it comes to personal finance. Maybe you’ve been overspending or perhaps you’re trying to save for a big purchase. Whatever your reason is, living more simply and finding expenses to cut from your budget will help you live a happier, more fulfilling life. I’ve put together a list of 10 things you should cut from your budget to help you save money:
Things You Should Cut From Your Budget
1. Dining Out
Although take-out and dining out can be a nice luxury, it can get tremendously expensive. Instead of eating out, try cooking at home more. There are many recipes that take less than twenty minutes to put together, so try incorporating some of them into your weekly meal plan if you’re worried about not having enough time. As well as being cheaper, it’s often healthier to cook at home too.
Most of us have a wardrobe full of clothes but don’t wear 80% of it and are in desperate need of a wardrobe declutter. Since moving to America, I’ve only had a capsule wardrobe and I actually much prefer it. It saves so much time in the morning! Try not to buy any new clothes unless you really need it and watch your money grow.
3. Brand Names
It’s easy to grab the name-brand items at the grocery store because it’s familiar, but buying store-brand items will save you so much money. It’s okay to buy name-brands when you can tell a difference in quality, but many store-brand items are just the same product at a much cheaper cost!
There’s no need to completely cut off meat from your diet (unless you want to!), but reducing your meat consumption will save you so much money on your grocery shop. Meat can be pretty pricey, so adding more vegetarian dishes to your weekly meal plan is a very frugal move. Try adding in more beans, rice or lentils in place of meat.
Cable television can be expensive – it can cost over $1000 a year! My husband and I currently don’t have cable and we’re not planning to get it anytime soon. These days, there are so many alternatives – Youtube, Netflix, Hulu, Podcasts and free online shows. Or, you can find other things to do besides watching TV with your new-found free time.
6. Cell/Mobile Phone Services
If you want to save money, your expensive cell/mobile phone bill is another thing you should cut from your budget. Contact your provider to remove the services on your plan that you don’t need. There’s no point paying extra for unlimited calls or wi-fi if you don’t use it. Figure out what works best for you.
Subscriptions are another thing you should cut from your budget to save money. Whether you’ve signed up to a magazine or newspaper, cancel it and see how you do. If you need reading material, try visiting your local library instead or browse articles online.
8. Gym membership
If you’re using your gym membership less than once a week, then you’re wasting a lot of money. Try finding other ways to get fit that don’t cost a thing. For example, you could follow home-workout videos on YouTube or go for a run outside.
9. Salon Trips
If you often take trips to the salon, whether it’s to get your hair done or your eyebrows waxed, you may want to think about skipping it and doing it yourself at home. If you really can’t live without these services, lessen your usage of them so that it’s more of a treat than a regular occurrence.
Entertainment doesn’t need to be expensive. There’s so many things you can do at home that are absolutely free! For example, for date nights with your husband, you could cook something together at home instead of going out to a restaurant. It may end up being even more fun! Get creative – there’s plenty of frugal ways to entertain yourself.
So those are 10 things you should cut from your budget to save money – I hope you found this post helpful! What have you cut from your own budget? Is there anything you refuse to cut?