In America, there are currently over 76 million people that are struggling financially in some form. Regardless of how rich or poor you are, there are ways to save money on your day to day expenses that you may not be aware of. Five simple ways to save money on expected expenses are listed below.
1. Eating on a Budget
Eating food every day is absolutely necessary, but eating at a restaurant once or twice a week is not. Many people simply become too busy to make their own dinner, so they go out to eat. While eating at a restaurant may seem inexpensive, it adds up over time. Additionally, when you are grocery shopping, search for foods that are on sale. You can also shop around at different locations to learn which store has the most cost-efficient food.
Fuel is another item that really adds up in your weekly and monthly budget. If you know another person that works or goes to school in the same building as you, consider carpooling with them. It will not only save you money on fuel, but will also save your car from putting on additional miles.
3. Changing Your Phone Plan
It is essential to be able to communicate with others but if you are tight on expenses, you don’t need the newest phone with the most amount of data. Many people spend money on unlimited data when they don’t really need it. If you have a high phone bill, consider restructuring it. If you’ve been with your carrier for awhile they might be willing to work out a new plan that benefits you more.
4. Adjusting Your Thermostat
During the winter months, many people have their thermostat set fairly high. Turning it down during colder months and up during summer months will help save money on heating and cooling expenses. Additionally, when you are leaving your home for over 8 hours you can save 5-15% on energy expenses simply by adjusting your 5-10 degrees outside of your regular setting.
5. Doing Your Own Maintenance
Many people will take their vehicles to the mechanic whenever they need anything done. You can save a large amount of money by doing some of these tasks on your own. This includes items such as changing your oil. air filter, and brake pads. While massive projects like engine rebuilds will require the assistance of a professional, there are many simple automotive repairs that anyone can learn to do.
Clothes can take a huge bite out of your budget if you’re not careful. Most people don’t buy new clothes every month, which makes buying them even more of a problem as they can present as an unplanned, non-budgeted expense. If you need new clothes, there are many low-cost or even free ways to update your wardrobe. Check out thrift stores and warehouse stores for dramatic discounts. Create new looks with what you already have, or do a clothes swap with friends. Learning how to sew is another way to save money while also developing a valuable life skill.
There are many different types of expenses in life, but there are also many different ways to save money on these expenses. Some of these ways include eating on a budget, carpooling, changing your phone plan, adjusting your thermostat, and doing maintenance on your own vehicles.