The cost of living is still high and it’s tough and challenging. The cost of living won’t come down, but getting a pay raise might be in the cards for you, but the more you make, the more taxes are deducted so are you really getting ahead of yourself?
It’s your responsibility to make the necessary financial changes to help your family live and enjoy a comfortable and worry-free lifestyle.
Sit down with your spouse and write down all of your expenses and spending habits. You’ll probably be quite shocked at seeing what you’re putting your money towards.
14 ways you can slash your spending and save more each month
1. Going out to eat less makes a lot of sense. Ordering appetizers, desserts, and drinks all add up. Even if you chose a less expensive restaurant, you still have to give a tip. Make lunches for your spouse and kids to take to work and school. Skip the hot meal programs at schools because you can provide a hot lunch now and then for your kids.
2. Do you have any memberships you rarely use? If you already paid into it, then use it up and don’t renew.
3. Is having a landline important to you? If you have a mobile phone, you may not need a landline. If you prefer to have a landline type phone, look for cheaper phone providers. Check into VoIP as these can bring the cost of landline phone way down and they offer more features with a much cheaper price.
4. Use cash only to buy things.
5. Pay off your monthly credit card balances and only use your credit card on big expenses or for emergencies. Not all credit cards have the same interest rates so check around for the lowest and switch.
6. Cancel monthly magazine subscriptions since you can read them online free.
7. Start using coupons and comparison shop. Depending on the shop, some will match another store’s lower price. It doesn’t hurt to ask.
8. It’s nice occasionally to order in, but opt to pick it up yourself. Sometimes you’ll get a discount for picking it up yourself.
9. Shop for clothes that don’t require dry or special cleaning.
10. Bundle up your cable services to save more or cancel your premium services.
11. Trade in your gas guzzling car for a fuel-efficient or hybrid car.
12. If you vacation in the off peak season you can find some great savings.
13. Cook more at home. You’ll find you eat and cook healthier meals.
14. Yes, I love my Starbucks, but it all adds up pretty quickly. Less frequently is best if you can’t cut it out of your life.
Through skillful and godly Wisdom is a house built, and by understanding it is established [on a sound and good foundation], And by knowledge shall its chambers [of every area] be filled with all precious and pleasant riches. – Proverbs 24:3-4 (amp)
I’m sure each of us have our own ways to cut spending. Where do you need to cut back on? Let’s hear it. Share your tips!
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