Services to Cancel if You Want to Cut Back on Your Monthly Expenses

When you’re struggling to keep your expenses within your budget, the first step is usually to cut out your more frivolous purchases. All those trips to the movie theater and impulse visits to the coffee shop might have to go. 

But if you’re still falling short of your goals, it’s probably time to cancel some of your services. This can be a painful step since it requires a long-term lifestyle change. 

All the same, it’s worth doing if you really want to get your finances in order. Here are four services that you could consider giving the ax.

Cable

For decades, cable television has been a cultural behemoth and the central form of entertainment in most American homes. It seems we’ve finally reached the point where that reality is changing. 

Streaming services like Netflix and Youtube allow viewers to watch their favorite programs, movies, and videos on demand, rendering traditional television obsolete. If you’re struggling to pay your bills anyway, you should join the masses who are abandoning cable in favor of new platforms.

Internet

While cable is on its way to becoming a relic of the twentieth century, the internet is at the very center of the current zeitgeist. All the same, you could save some serious money by ending the internet service to your home. 

It will be difficult to give up the convenience and constant connectivity that the internet provides, but you might find you’re more at peace in a web-free environment.

Timeshare

Investing in a timeshare might seem like a great idea at first, but all those expenses can become too much over the course of the years. The problem is that ending your timeshare commitment is often a lot harder than you’d think. 

Once these businesses have you in their grasp, they don’t let go easily. Consider hiring an expert in timeshare contract cancellation to get you out of this predicament.

Lawncare and Landscaping

While having your lawn mowed and your yard professionally landscaped is certainly convenient, it’s far from a necessary expense. Consider mowing your own lawn. 

The exercise will be good for you, and you might even enjoy the fresh air. If you’re physically incapable, consider hiring a “neighborhood kid,” whose services will be cheaper than a professional’s.

It’s amazing how much money you can save just by canceling a few services. By ending the contracts mentioned above, you can boost your monthly savings and get your finances back on track.

4 Monthly Expenses You Can Plan for Beforehand

 
Some expenses, like emergency medical bills and unexpected home repairs, come out of the blue. These are the costs that hurt the most, since you never have a chance to plan for them in your budget. Other expenses are a routine part of everyday life. 

They come around every month without fail, so it’s your responsibility to prepare for them. Here are four such monthly expenses that you should account for in your general budget.

Rent or Mortgage Payments

One of your biggest monthly expenses comes from your constant need to keep a roof over your head. Unless you bought your house via cash purchase or you’ve already paid off your mortgage, then you’re going to need to make some sort of monthly payment, either to your landlord or the bank. Make sure you have a clear idea of exactly how much you pay each month.

Utility Bills

Not everyone pays for the same utilities (since every property functions differently and has different agreements), but you probably have to pay each month for some combination of gas, water, and electricity. 

The payments will fluctuate slightly based on monthly usage, but they should stay relatively consistent. Take a look at your utility bills for the last few months so you can determine a general average. Then, incorporate this average expense into your monthly budget.

Internet

If you have the internet at your home, then you have to pay for it on a monthly basis. The total amount paid to internet providers each month will depend on the specific company and the type of service. 

Some providers combine internet and cable in a single package. Examine your most recent bill so you’ll know how much you’re paying.

Food

This expense isn’t as easy to calculate as the others on this list, since it is never presented as a single monthly charge. All the same, you can determine how much you typically spend by keeping records and doing some basic math. 

For ten days, write down how much you spend on food. This should include visits to restaurants, snacks from convenience stores, and trips to the supermarket. Add up the total after ten days, then multiply by three. This final answer will be your approximate monthly food bill.

Personal finance is all about understanding your financial reality and then acting accordingly. These four expenses are among the facts of life, so you’d better account for them when considering your finances. By including these costs in your budget, you’ll make it easier to stay financially healthy.

7 Ways To Save Money On Your Monthly Expenses

Well, I won’t be wrong in saying that one of the greatest challenges in personal finance is finding out the ways in which you can spend less money. One of the best and tangible ways of doing this is to save money on your monthly expenses. 

Even though some of your bills seem small and insignificant on their own, but cumulatively the effect can be massive and worst of all it can become a leading reason for a huge drain on your resources.

In order to cut down the damage caused on a monthly basis, most of the people look for varied easy to implement & effective methods in which they can cut their expenses. So, I am going to discuss top 7 ways to save on your monthly expenses. 

Try Using Public Transportation

When you use public transportation, you get to save a significant amount of gas, petrol, diesel, and maintenance over time. 

Remember each time you are leaving your car behind, you are saving money. I have tried this strategy of using public transportation myself and trust me it really helped me save money. 

Sell Unwanted Stuff

You must be having stuff in your home you don’t use often. Selling all that stuff on eBay can be a smart way to earn some quick money. 

You can use this money to pay off your debt and get rid of it once and for all. I have also sold some of my stuff, that includes selling off my Cricket Gear when my debt really got unmanageable. 

Installing A Programmable Thermostat

Using a programmable thermostat, you can easily program both the heating and cooling of your home, even when you are not at home or when you are asleep, thus saving on heating and cooling bills. Setting it to cool or heat before arriving home from work will surely come handy.

Go For CFLs And LED Bulbs

Incandescent bulbs are history, LEDs (light-emitting diode) and CFLs (compact fluorescent light) are the new trends in lighting. Update your house’s light bulbs and switch to LEDs and CFLs. 

The best thing about them is that they are four times more energy efficient than incandescent bulbs and most importantly lasts longer. Make sure you consider Lumens Number when you are comparing the bulbs. Lumens will tell you the actual light emitted by the bulb. 

Benefits of CFL –

• Save Energy – CFLs are four times more energy efficient as compared to incandescent bulbs. This means that these bulbs use 50 to 80 percent less energy. 
• Cost Element – Yes, initially it will cost you more, but it will prove less expensive in the longer run. The main reason behind this is that CFLs last longer. 
• Environment-Friendly – Using CFLs also cut down carbon monoxide emission to the atmosphere by 1,000 pounds. 

Benefits of LEDs –

• Longevity – LEDs are known to have impressive operational life i.e. 100.000 hours. 
• Energy Efficiency – Consuming 80% less power as compared to incandescent bulbs, LEDs are highly energy efficient. 
• Longevity – A LED light can last up to 7 years. 
• Safety – There is no heat produced by LEDs but on the other hand incandescent bulbs heat up and they are not comfortable to hold. 

Cancel All Your Club Memberships

You might be having gym membership and a local club membership. Ask yourself, how often do you use these memberships? 

I am sure you are using a gym membership not more than once in a week and club membership not more than once in a month, you are probably spending money indiscriminately. Cancel all your memberships and see how much you have saved. 

Cancel Newspaper And Magazine Subscriptions

If you receive newspaper and magazines in your daily mail, but don’t read them often, make sure you have opted to cancel the subscriptions without giving it a second thought. 

If you really want the reading material, you can either go to the library or you can read them online as well.

With the advancement in the field of technology, lots of newspapers, news channels, and magazines have their online versions. So, it makes it easier to go through the latest news and gossips while you are on the go. 

Compare The Prices Of Electricity And Gas

Take some time out and find out are you really getting best deals on your electricity and gas? Today, there are numerous comparison websites where you can compare the prices, so make the utmost use of such websites.

Author Bio

Sophia Jones tries to live her life like the sun – setting her sights high and vowing to always rise up again. Always game for an adventure, Sophia loves widening readers and her own expectations of our vast, beautiful world. As a journalist, Sophia writes to inform. As a creative writer, Sophia strives to inspire. Overall, she hopes to captivate. She currently writes for sites like alwaysreview etc.