The key to saving money is knowing where to trim your budget.
Paying bills is never fun, but it’s even less exciting when monthly expenses leave you eating noodles for the last few days before every payday. But you don’t necessarily have to sacrifice the lifestyle you want to live in an apartment or home you love. In fact, eliminating unnecessary household expenses is easier than you think.
Whether you’re living those big-city dreams in a studio apartment in San Francisco, CA, or moving into a single family home in Austin, TX, read on to find out how to eliminate or reduce monthly household expenses like grocery bills, insurance, and cellphone bills without disrupting your life.
7 Ways to Cut Household Expenses
- Head to the grocery store. Sure, you can’t eliminate the price of food when you are determining your budget. But do you really need to buy all of your groceries at Whole Foods and buy takeout for lunch every day? Eating in doesn’t have to mean daily trips to the grocery store either. Research local Community Supported Agriculture (CSA) programs and talk with your neighbors or coworkers about sharing the weekly offerings — buying into a CSA with a group still gives you a variety of fresh fruits and vegetables while easing the stress of having to figure out a way to use every piece of produce delivered.
- Have a plan when you shop. Using coupons to cut expenses is easy, but it’s not for everyone. One top alternative for cutting those grocery expenses, sans couponing, is to know the cost of the top 20 things you buy most often (think milk, eggs, and butter). That way, when you see the prices go up (or down!), you’ll know if you’re getting a good deal. Small strategic changes in shopping can help you cut down on expenses over time.
- Lay off the landline. Be honest: When is the last time you used your landline? If your phone has followed you from rental to rental, or remained unused in your home for years, it may be time to unplug it for good — and cut out that expense. However, if you have a home office and require a landline, it may be worth investing in a product that hooks up to your router and allows you to make voice calls around the country.
- Renegotiate your insurance rates. Car, health, rental, and homeowners insurance costs are negotiable. Insurance rates fluctuate often, so you could be missing out on a lower rate if you don’t shop around for new insurance at least once per year. Plus, competition is high among insurance companies, and you may qualify for certain discounts based on your age or risk with a different plan.
- Keep your home neat. A cleaning service can tempt even the neatest renter or homeowner, but you may be paying for more than you’re getting, especially if you live in a small apartment rental in NYC. It’s not uncommon to spend $150 or more on each cleaning. If you’re paying for a monthly maid service, that could add up to well over one month’s rent each year. Instead, dedicate 30 to 60 minutes each week to speed clean your place yourself and split the time into five to 10 minutes each day. That way, your space will never get out of control, and you won’t be tempted to dial your cleaning service for a quick fix.
- Switch from commuting to carpooling. While it may not seem fair that you have to drive an hour to work or pay for parking at your office, your best bet for trimming your transportation budget is to share the cost with coworkers or skip the parking space altogether. Make a plan to carpool a few days a week with co-workers who live closest to you, or ditch the car entirely and bike or take public transportation to work.
- Cut back on unnecessary pet expenses. Fido’s needs come first, of course, but when it comes to dog spas, doggie day care services, and accessories, it’s easy for the extras to pile up. Instead of taking your pooch to doggie daycare every day, find a local dog park to throw the ball and let him run loose with other dogs before you head to work. And instead of spending loads on grooming costs, renters can shop for apartment communities that include dog washes and grooming stations as amenities. Homeowners or renters without grooming stations should look into self-service wash shops that can cost as little as $10 per wash.