Money is important, and when we spend it carelessly we can end up putting ourselves in a tough financial situation. Check out these ways to cut spending and save some money this year to avoid that situation!
Cut Spending in 2016
Ditch cable. Cable is expensive, sometimes costing over $150 a month. And for what? Reruns and commercials? Not only can you be more productive without cable, but there are so many options you can replace it with. Netflix has plenty of options for around $10 a month and offers some awesome shows. Why pay for 100+ channels when you could pay for only what you want to watch and save money? If you want to cut spending, you can save over $100 a month cutting cable!
Assess Your Electric Bill
Assess your electric bill. If your electric bill seems to be high, try to figure out the culprit. Are electronics always running that you aren’t using? Are your appliances very out of date? Do you leave things plugged in such as phone chargers and laptop charges when not in use? Unplugging and investing in a few updated items could save you hundreds of dollars a year. Unplugging is easy when you purchase devices that can hold 6 or more plugs that go into your current outlet and can easily be taken out and put back in, cutting power to everything plugged into them. (Note: do not do this with appliances, only use this method with electronics, lamps, etc.)
Limit the Subscription Boxes You Use
Say goodbye to subscription boxes. Those subscription boxes get the best of us sometimes, and if you opt for the yearly option to save some money, you get sucked into another monthly bill even if you decide you no longer want the subscription, because of the high cancelation fees. You should highly consider if you really need a subscription box, will you use all of that makeup or all of those trinkets you get sent each month? More times than not it’s not worth it and will end up being a waste of money a few months from now.
Check Your Water Heater
Check your water heater. Turning your water heater down just a few degrees can save you tons! You won’t notice a significant difference in your water temperature and your wallet will thank you. (This typically is not possible if you rent an apartment in a complex as you do not have your own water heater.)
Stop Eating Out
Stop eating out. This is difficult for most of us. Eating out is easy, it’s convenient. But spending $10 here and there on meals adds up to a lot each month. Taking some time to look at your schedule and plan meals will eliminate the need to go out to eat. Once or twice is okay but watch that take out budget and plan your meals for each day.
Doing just these few things can save you a bundle each month. It may lead into figuring out other areas where you are spending too much, saving you even more!