Having control over personal finances is something that many of us strive to accomplish. From countless resolutions to small limitations we give ourselves when shopping, we are continually trying to better ourselves and our spending. These habits are so common that a study from 2019 showed that 55% of Americans within the first three months of the year. This means we can clearly see the need for some drastic changes in limiting our expenses if we want to be successful.
However, to be realistic, this will require some sort of lifestyle change. Whether it deals with your form of transportation or how you exercise, buying bulk for basic needs to , a shift must occur regarding how you go about your daily life. The first step in finding ways to drastically cut expenses merely is just admitting that they need to happen. Coming to a realization will be a natural step to encourage you to put the rest of the goals into action. Keep reading below for tips to help get you started.
Everyone has different reasons to cut expenses. Some are trying to get out of debt. Some don’t want to go in debt. Others want to Putting money aside for a house is a good idea. We all have our reasons, and they are all important.
These are seven methods for dramatically reducing expenses.
1. Negotiate Monthly House Bills Lower
- 1. Negotiate Monthly House Bills Lower
- 2. Sell Your Old Car For Cash
- 3. Stop Eating Out vs. Eating at Home
- 4. Search For Free Entertainment Near Me
- 5. Buy Used Stuff Locally Or Nationally
- 6. Declutter Sale
- 7. Home Gym Workout Routine
- Ways to Drastically Cut Expenses Summary
This is the dream, right? While our monthly bills aren’t something we can eliminate completely, you can lower them in some of the aspects of your life. For example, saving money on your cable bill. Before calling your cable provider, do a little bit of research. Knowledge is power when trying to advocate for your expenses. Equip yourself with competitor rates and maybe even research what your neighbors are paying. You will be surprised at how much companies may be willing to give when you negotiate. Even if you can shave 20 dollars off of your bill per month, consider this a success. You’ll be drastically cutting living expenses by $240 per year!
Consider restricting your streaming subscriptions as well. With every entertainment firm jumping on the streaming bandwagon, choose what to watch as your primary source of entertainment might be difficult. While shows and movies aren’t required, they may be something you’re ready to give up. Examine which platforms you use the most and determine what to keep and what to discontinue.
Types of monthly house bills you can lower:
- Cable and internet – Call the retention department and negotiate a lower bill. See our article on how I decreased my AT&T U-verse monthly bill without reducing my services like premium channels and Internet speed. Othrwise, see our guides on Getting your Comcast bill down to a more manageable size or Your DirecTV equipment must be returned..
- Cell phone You may be able to set up automatic monthly payments or have the cellular carrier deduct funds from your checking account rather than your credit card in some situations. When you pay with your bank account, the mobile phone carrier avoids the credit card company’s processing fee and passes some of the savings on to you. Based on your existing demands, consider switching carriers.
- Heat, electricity, and water – In some states, the electric and gas companies are deregulated, and you can shop for a different provider. I recently switched electric companies and saved a bundle. I received an offer from Southwest Rapid Rewards and got bonus points too! Also, consider lowering your thermostat temperature in the winer or raising it in the summer by a few degrees. It goes a long way in saving money fast! Finally get ride of old inefficient appliances. Consider You may earn money by recycling your old refrigerator. and upgrading to a more efficient model. See our article on Nearby, I can get a free appliance pickup.
- Insurance Get a quote for your home and auto insurance. Customers who have been with an insurance company for a long time do not receive a discount. I’ve even urged previous insurance providers to rethink not raising the rates, but they’ve declined. Re-shopping your insurance every year is the best way to save money. Here are some suggestions for saving money with your current insurance provider. Consider whether increasing your deductible will save you money on your annual premium. For good students, multi-driver households, safe driving records, or bundling, ask for discounts.
- Consider refinancing your auto loan through a credit union, depending on your situation.
- Security service – Call customer service and ask for the customer retention department and ask for a lower monthly payment. I called to cancel my security service and got my bill lowered by about 40%. See our article about how I was able to reduce my ADT security bill.
- Cancel any needless magazine subscriptions that you don’t read or require. Look for better magazine discounts on the internet. Better still, visit your local library to borrow free publications.
Bill negotiation service
Everyone has a problem with high monthly house bills.
All my friends comment about their high monthly mobile phone bills and cable bills. Negotiating cable bills has turned into a business for some companies. BillFixers will call DirecTV, Charter, Comcast, AT&T, Verizon, ADT, and many more to get you a discount. In return, the monthly house Bill negotiating providers will take up to 50% of your savings in exchange for their services. the first year.
Not everyone is an expert negotiator. If you don’t like negotiating, then you’ll want to use . You can hire them to lower your monthly bills for no money down. BillFixers doesn’t get paid unless they save you money. They are incentivized to lower your existing monthly house or business bills by as much as possible. Click their logo to learn more.
2. Sell Your Old Car For Cash
If you’ve been relying on your car for years, selling it to save money may sound extreme. Significant issues, on the other hand, necessitate large-scale solutions. If you rarely use your car and have easy access to public transportation, this is something you should seriously consider.
This not only removes a car payment, but it also saves you money on petrol and insurance! It may be unnerving at first, but there are a variety of ways to maintain a productive lifestyle without owning a vehicle. If your workplace allows it, carpool to work, acquire a transit pass, or even consider working remotely.
Sell Us Your Car Online
Bonus tip: Utilize technology to cut living expenses drastically! The digital age has provided us with many opportunities to execute this lifestyle change quickly. Not only can applications help you sell your car online, but it will also give you a safe, socially distanced opportunity to connect with the right local customers.
These are a few of the top sites to sell your car on the internet:
- Via their network of dealerships, they can help you sell your automobile quickly for cash. NewCars.com, Auto.com, and PickupTrucks.com are all owned by Cars.com.
- Sellers can list their vehicle for free, but they will be charged $99 if it is purchased. CarGuru receives roughly 20 million monthly visitors thanks to a unique feature. They rate each automobile listing from excellent to expensive depending on the price you list your vehicle for its brand, model, mileage, features, and other factors.
- Certain seller listing packages include a money-back guarantee and are syndicated through Kelley Blue Book. There is no charge for listing your car if you do not sell it.
- Auto listings from sites such as eBay Motors, CarSoup, and CarsDirect are gathered. You will be directed to Cars.com when selling your vehicle. Your ad will appear on Cars.com as well as AutoTempest.
- It’s a pretty specialized site that sells ancient classics and muscle cars. The purchasers are enthusiastic auto aficionados. For the listing, a seller pays a single $99 fee.
- They will pay cash for your car, but they will want in-person appraisals. If you sell my automobile to CarMax instead of a person, you’ll probably get less money. On the good side, you’ll get a check for your car when you leave CarMax, and they’ll take care of all the paperwork.
- Carvana arranges transportation for buyers while they look for used car sellers around the country. Cars and trucks can be listed on the site by sellers. Carvana arranges for a truck to pick up your vehicle and deliver you a cheque once it has been sold.
- It provides a free, hyper-local, city-specific listing to sell your car with multiple images. Because this is a local listing, you won’t have to travel far to meet the buyer.
- Locally, you can sell your automobile for cash for free, but nationwide ads on eBay Motors cost $60-$125. Prices are subject to change, and since these are peer-to-peer sales, bids are non-binding.
- It’s a great way to sell your automobile for cash to local customers in the area. The platform is enormous! In the United States alone, there are approximately 190 million Facebook users. The Facebook Marketplace is famous because it allows you to sell your car for free online.
- – Users go here to buy vintage cars. The site is very popular with enthusiasts. Readership online and print are in the millions.
- The Real Cash Offer process on the web allows someone to sell my car quickly for cash. It’s simple, and a certified dealer can make you a cash-out offer.
- It caters to sellers who are searching for a speedy sale. Vroom will make you an offer for your car or truck in 30 minutes or less. Vroom will pick up your vehicle and pay you via direct deposit if you accept their offer.
You can lean on technology to assist with the obstacles you might face without owning a car. For example, is another modern solution that provides easy access to your typical home and food essentials for those who lack transportation. Quickly selecting what you need with a click of a button allows you to eliminate the need to travel to the store physically.
3. Stop Eating Out vs. Eating at Home
It’s no surprise that cooking your meals versus eating out will save you money. Just by packing your lunch for work every day, you could . It is easy to prepare for your week with a trip to the grocery store or logging on to a delivery app and order items online. Instead of spending your money on that $20 salad and $8 smoothie, you can now obtain those ingredients and make them yourself, for significantly less money.
When shopping for the week, it’s crucial to keep in mind that you should have a plan. You run the danger of overspending if you start buying food without a planned meal plan. Setting boundaries and checkpoints for yourself will help you stay on track to just buying what you need for your home.
Keeping notes during your first few weeks of cooking your own meals may be beneficial. Make a distinction between things that were useful and those that you barely touched. I occasionally cook something that I think the kids will enjoy, but it does not turn out as well as I had anticipated. This will help you plan for the following week by giving you a better idea of what you’ll need.
If you buy too much, freeze it so that it doesn’t go bad and you don’t waste food. Eating well-frozen meals can be delicious while also saving money.
Eating Out Cheap
We dine out frequently as a social activity, especially during COVID. We picked up to-gos because we were bored. Individuals can save money if they learn to avoid eating when they are bored.
If you’re going out to eat, here are some suggestions for saving money at restaurants:
- Avoid dining out You’ll save a lot of money quickly if you don’t eat out. At the very least, try to eat out less.
- Save money by bringing your lunch to work instead of eating out. A healthy lunch can be had for a fraction of the cost of eating out every day.
- Birthdays, anniversaries, festivities, and vacations are the only times you should eat out. Don’t eat out because you’re bored.
- Because you didn’t make a weekly food plan, you’re more likely to dine out for dinner. A budget meal planner can help you save money when you go grocery shopping.
- Freezer bag meals Have a stash of prepared freezer meals on hand for nights when you don’t have time to cook. You can cook a supper on a budget if you plan beforehand. It’s worth looking into crockpot freezer meals for ease of preparation.
- Avoid full-service restaurants in favor of quick service eateries, which will save you money on tips and likely have lower rates due to lower overhead.
- Beverages are pricey in restaurants, so skip them. An alcoholic drink will set you back $10 plus tax and tip, for a total of $15! Restaurants have also found sodas to be quite profitable. A drink nowadays costs between $2.50 and $3.50. With tax and tip, the total comes to roughly $5 per person. Staying healthy and drinking water might help you save money.
- Happy hour specials near me – If you need to celebrate with some drinks, like beer or a cocktail, then choose a place with a convenient happy hour. They’re not just limited to drinks, but also food too. Personally, I can do without the drinks and cocktails, but I prefer the best happy hour food near me. Most specials are on Sunday, Monday, Tuesday, Wednesday, and Thursday since those are the slower days for most restaurants. In my opinion, the best happy hour near me is offered by the , Monday through Friday with generous hours.
- Dessert and appetizers should be avoided unless they are half-priced on the happy hour menu. Unless it’s a special occasion, I also skip dessert. I either make my dessert at home or stop by a local McDonald’s drive-thru for a family of vanilla cones for $1-$1.50 each. That’s a low-cost, high-satisfaction dessert!
- My wife enjoys the variety of appetizers on the menu and considers them to be dinner. She frequently orders an appetizer as her main course. Appetizers are frequently substantially less expensive than entrees. Appetizers are especially worth ordering during a food happy hour when they’re on sale.
- My daughters aren’t the biggest eaters, so they’ll frequently split an entree like a burger. On other occasions, we will order one meal and, if it is little, a second dish.
- Lunch menus are available at many restaurants, as are dinner menus. Meal prices are lower and quantities are slightly smaller on the lunch menu. If you can’t stop yourself from eating because you’re bored at COVID, go out for lunch to save money.
- Military, senior, and student discounts – If you are a military veteran, over 50, or have a student or teacher ID, ask if you can get a discount before paying your bill. See our guide on Target student discounts and freebies for educators. guide
- Children eat for free or at a reduced price During the week, several restaurants offer children dine for free offers. If your older children are light eaters, request the children’s menu, which has lower costs and typically includes a complimentary drink. Some restaurants impose age restrictions on their children’s menus, but most don’t seem to mind.
- Consume less meat Steak is more expensive than pasta in Italian restaurants.
- Take home leftovers Certain restaurants, such as Italian restaurants, serve quantities that are so huge that you will not be able to finish them. Always put the food in a box and take it home. Even if you don’t intend to eat the leftovers the next night, plan ahead. When you have a hectic day and can’t plan ahead for dinner, leftovers are fantastic to reheat.
4. Search For Free Entertainment Near Me
Have you ever considered how much money you spend on entertainment each year? There’s a good chance it’s more than you think. Outings with the family, vacations with friends, or simply taking advantage of the lovely weather will gradually pile up. There is a simple solution if you live in a city or a large town. Look around your neighborhood for free entertainment.
If you reside in a more remote area, you still have options. Here are some venues in the area where you can find free entertainment:
- Many cities and towns issue a monthly or seasonal calendar that includes activities in your region for the coming month or season, such as summer. Check out the city’s website or pay a visit to the municipal building. Festivals, free music performances, movie evenings, Easter egg hunts, and other events are expected to come up.
- Department of Recreation and Parks Visit their website to learn about bike paths and hiking trails. Perhaps some community swimming events or beach parties.
- Local universities frequently provide low-cost or no-cost entertainment such as plays, presentations, talks, festivals, and demonstrations.
- Several free local newspapers have an inserted section listing weekend activities and entertainment in the area.
- Every state has a tourism guide on their website with a variety of activities to do in every section of the state. Several of the activities are free, such as visiting architecture, parks, and festivals.
- Local library – Your local library will be a resource and have all these newspapers and periodicals to find free entertainment nearby; especially Purchase a Sunday newspaper.. They also tend to have free things to do like movie nights for kids or adults, technology training, speeches, club meetings, concerts, cooking or technology demonstrations, etc.
Additionally, look into local community Facebook groups, the Patch newspaper, or the NextDoor app for insider information on what’s going on in your neighborhood. There might be a low-cost event you can take the whole family to, or a nearby hiking route you’ve never visited.
Free things to do near me
If you’re bored during COVID, the summer, or just the weekend, we’ve got some suggestions for you. Here’s a list of 32 free and low-cost activities in the area:
- Play board games You probably have a stack of board games that have been collecting dust since you acquired them as presents. By the way, if they aren’t entertaining enough to play when you’re bored, declutter and discard them.
- Bake – Go to and learn how to bake a simple loaf of bread with ingredients that are likely lying around your kitchen.
- Meet your neighbors Whether it’s a pandemic or the weekend, chances are a few of your neighbors are bored as well. Become friends with a couple and invite them over for a drink. Make it a potluck, and everyone contributes whatever food or drinks they have left in their refrigerator.
- Stroll or trek to get some exercise and clear your mind by discovering a new path or neighborhood. My buddies and I are always competing on our smartwatches to see who can earn the most steps per day.
- House maintenance – There is always something that needs to be done around your house, from changing the filters to pulling Keeping heavy furniture away from the wall is a good idea. and vacuuming away old dust.
- Write a letter – or family member. It’s a dying art, and the recipient would truly love the thought.
- Visit a free zoo or museum – Many large cities have a free zoo. Plus, there are days and weeks of the year where zoos and museums are open to the public for free. Check the calendar for .
- Learn something new There are a number of online platforms and colleges that provide free access to some of their most popular courses.
- Learn to cook a new dish Set aside some time to learn some new easy recipes to prepare ahead of time for weekly meal planning.
- Play a sport Invite a friend to a free game of frisbee golf at the local park. Play beach volleyball or kick a soccer ball around.
- You may learn some simple yoga poses on Youtube if you have some floor space and a blanket. It will help you relax and stretch your muscles.
- Rearrange your furnishings by putting your bed against a different wall or at an angle. Do the same with the couch in your living room.
- Rearrange your photo frames and replace all of your old photos with anything new.
- On a boring weekend, read a book. There are countless free novels online, or try a trial subscription. If you do not intend to use the trial membership after the trial expiration date, make sure you cancel it.
- Resell unwanted, unused apparel Most of us have old clothes that don’t fit well or don’t look good when we get them home. You may resell your old clothes and get some quick cash via a variety of services.
- Collect old change – Most people have random coin lying around their house, purse, car, etc. Collect all that change and take it to a coin vending machine where it will convert into cash.
- Deep clean your house – Clean the return vents, change your filters, move large furniture from the wall, clean all your bedding and pillows, clean all the shelves in your fridge, etc. There is always a neglected chore that you’ve been putting off.
- Learn a foreign language – There are several cheap or free language apps. They will teach you a new skill. Try , , or YouTube.
- Take a nap Most of us are sleep deprived. Make the most of a dull weekend by catching up on sleep and recharging your batteries.
- Ancestry – Do some research and learn about your family tree and your ancestors. Start with online services like or . In many cases, your local library may have a free subscription to ancestry databases.
- It is not necessary to begin a new year’s resolution on January 1st. Today is a great day to get started on any changes you wish to make.
- Make a puzzle It’s not for everyone, but as a family effort, make a 1,000-piece puzzle. If your thinking is more mathematical or language-oriented, you can also try sudoku or crossword puzzles.
- Volunteer There are a plethora of organizations that are always in need of help. Volunteering at a food pantry might be done on a workday or on a weekend.
- Create or update your will – Start listing your assets and plan out your beneficiaries. Depending on your assets, you can either use or a site like or hire an estate attorney if you have a more complex estate.
- Watch free public television – Try using a service like . It’s a not-for-profit service that offers access to broadcast stations over the internet for several US cities.
- Start making your Christmas list It’s never too early to start thinking about gifts for the holidays. Personally, I have a running list on my phone’s notes app that I update throughout the year as individuals mention items they desire or would like.
- Plan a vacation – During COVID, I accumulated a lot of Rapid Rewards Points from Southwest Airlines. Southwest lets Rapid Rewards members book and cancel trips without penalty. Use their route map and start looking into airfare costs over the holidays. Visit our travel section for budget-friendly tips.
- Clean out your closets We all have cluttered drawers, garages, and closets. Garbage, donation, or resale are the three categories that must be followed when decluttering. I resold several old speakers, audio equipment, and technology for roughly $800 on OfferUp during COVID.
- Binge-watch and stay in your pyjamas The majority of people appear to have an Amazon or Netflix subscription. Between the two streaming sites, there are innumerable great series and Academy Award-winning films to satisfy all tastes.
- Take a bike ride Locate a local bike trail to get some exercise while taking in the scenery.
- Make a snowman Spend an afternoon with your family making a snowman.
- Download Google Lens – Find any major monuments or architecture you can visit and admire for free. to tell you its history and make it a self-guided city walk.
5. Buy Used Stuff Locally Or Nationally
Purchasing previously owned items is one of the most straightforward ways to save money quickly. Almost anything may be found for a reduced price, from clothing to furnishings to bicycles. The things you receive are frequently in excellent shape, and you will not notice the difference. There are so many paths you can take before purchasing a brand-new or nearly brand-new, expensive product, whether you choose to buy locally on Facebook Marketplace or expand your horizons with a nationwide site like eBay.
Many everyday expenses can be dramatically reduced by purchasing things from trusted sellers on resale marketplaces. To avoid frauds, I only buy from reliable suppliers with a proven track record.
With being stated, given the current status of the nation’s health, finding a safe and health-conscious manner to buy things you can trust can be difficult. If this is the case, consider upcycling old items you have lying around the house. You can find inspiration for repurposing objects around the house by going to Pinterest or even Etsy.
See our posts on the the greatest consignment stores in my area and the With $100, $200, $300, $500, and $1,000, the greatest object to pawn is.
Buy used items app
Several apps allow frugal shoppers to purchase secondhand things at a reduced price. Here’s a selection of apps for selling used items:
- – Many consider Letgo the most popular Craigslist alternative. It has a chat feature to negotiate a lower price with the seller.
- It’s far too big of a platform to ignore the possibility of finding locally used products for sale.
- It’s the software I use to buy and sell used items. The app is simple to use, and I like how everyone receives a rating after completing a transaction. The more transactions and stars I see, the more confident I am in purchasing something from a seller. They just implemented a function that allows users to buy and sell products throughout the country.
- This is a fantastic site to find gently used name-brand shoes, apparel, and accessories.
- The RealReal Consigns expensive items that have been authenticated by experienced consigners.
- An online apparel consignment store that sells worn clothing, jewelry, and children’s clothing.
- Used vintage furniture, decor, home accessories, and art are resold on an online marketplace. You can either arrange for a local pickup or shipping with a seller.
- Every year, hundreds of billions of dollars in unused gift cards go unclaimed. Consumers can purchase discounted gift cards on websites like Raise.com or CardCash. Gift cards can be sent through the app or through the mail.
- – According to , the average cost of a wedding dress is over $1,600. It’s a great site to buy a used wedding dress that was likely only worn once.
Alternatively, make money by profitably flipping items.
6. Declutter Sale
You can sell your belongings as well as acquire old items to make some additional money. Go through your attic or storage room over the weekend. You probably have a whole corner of items that you haven’t touched in years. While it may be difficult to let go of some items, decluttering and downsizing your wardrobe might help you generate some quick cash.
Here’s a video that shows you how to declutter your home quickly.
You can spend your money more wisely during your next shopping trip if you have a clear view of your essentials. To begin, sort your belongings into three piles: keep, discard, and sell. It may also be beneficial to invite your friends and relatives if they want to participate in your sale in order to broaden your product offerings.
Use the selling side of Facebook Marketplace if you’re scared to have a major garage sale during COVID-19. You can also sell used items using one of the above-mentioned buying apps. They all use peer-to-peer or consignment to sell their items.
If you don’t want to use technology, there are still ways to conduct a safe yard sale during the pandemic. The most important thing to remember at a garage sale is crowd control. Moreover, ensure that each consumer is wearing a mask, and that the products are sanitized after each person departs. Following these basic standards should ensure that everyone is safe.
7. Home Gym Workout Routine
Cancelling your gym subscriptions can help you save a lot of money. While they appear to be a wonderful idea at first, they can be complicated and demand you to go frequently in order to receive your money’s worth.
During the summer, it’s even more usual to not use your membership at all because you’re exercising at an outdoor park. Put your gym membership on hold or suspend it if this is the case. Most clubs will charge you a monthly fee, which is still less expensive than paying full dues.
There are always budget-friendly options for getting in a healthy and productive workout. Consider turning your house into a gym. Bodyweight workouts are a great alternative to the expensive gym equipment, and there are several ways to make them more challenging. Investigate the internet for a routine that suits you. Thousands of advice and workout examples are available for free to use as resources.
Check out this website for the finest no-equipment workouts at home:
- Greatest Exercise Routines for Those Who Don’t Have Access to a Gym
Ways to Drastically Cut Expenses Summary
With the impending economic downturn, it’s more important than ever to take a closer look at your finances and find ways to save money. The benefits of developing new habits and sticking to these new routines will last for years. You do not need to spend money to have fun or stay healthy, and your social life will not suffer as a result. Ask for support when you need it, and don’t be hesitant to reset your goals every month.