Split cell phone service with friends and/or family.Ī cell phone bill is a necessary expense for many consumers. With a little foresight, you can replace costly takeout with cost-effective home-cooked meals. The simple solution? Embrace meal-planning as a strategy for mapping out meals, cooking ahead, packing homemade lunches, and stocking the ingredients you need to make meals at home. Too often, people make these purchases out of impulse or because of a lack of planning. Takeout, fast food, and restaurant dining can take a big bite out of your spending budget-and quickly. Get into meal-planning for lunch and dinner. Across all of your outlets in your home, this can lead to a lot of unnecessary energy waste that gets charged to your utilities bill.īy unplugging these devices, you can reduce your home’s energy consumption, saving money on utilities while reducing your overall environmental impact. Unplug electrical devices when not in use.Įven when electrical devices aren’t turned on, they’re consuming small amounts of electricity by draining energy from your connected outlet. You might also take advantage of a promotional balance transfer to move credit card debt to accounts offering a limited-time APR reduction-or even an interest-free period during which you can pay off your debts gradually. There are several different methods of debt consolidation, such as folding debt into a mortgage or taking out a personal loan. Consolidate your debt.ĭebt consolidation can reduce your interest rate and your monthly payment, giving you a clearer path to debt repayment that reduces your monthly expenses while improving your long-term financial planning. Here are six savvy strategies to lower your monthly expenses.
Even if you have some basic cost-cutting and savings habits in place, there are always creative ways to cut back even further. You understand the value of creating a budget, and you’ve been introduced to useful strategies for controlling your money, such as managing spending through the “envelopes” system.īut money-saving strategies can always be used in combination to increase the benefits you enjoy on a daily and monthly basis.