5 Ways to save money each month when cutting your budget

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Finances can be stressful, whether you’re a new couple, a fresh graduate, or a seasoned pro. Living paycheck to paycheck causes many people to reevaluate their budget and save money.

You might think that you are cutting everything you possibly can but still can’t make ends meet. You aren’t alone.

I’ll see a few Pinterest pins giving examples about what you can exclude from your monthly budget to loosen your purse-strings. Most of the time, they tell you to take out your insurance payment or something else that can be fairly important. Over the years, I’ve found a few ways to cut corners from your monthly budget that might inconvenience you, but not leave you without necessities.

As I’ve said, it might not be your first choice to cut these expenses, but it will allow you to afford all the necessary expenses in your budget.

Cable/Streaming

I’ve been living without cable for a few years. It’s annoying at times, especially when I live in the midwest and tornado season comes around.

Other than the news, I don’t miss much. I can use my computer or phone to pull up replays of shows that I’ve missed the previous night and if I want to watch a movie, I’ll find one that I have in my collection or I’ll search for one on Hulu or Netflix.

Now, I’ve also cut streaming services when times get a bit tight. Hulu is great for this because it allows you to pause your subscription. For Netflix, you’d have to stop your subscription.

You might be asking what you’d do instead of watching TV? Do another hobby, learn something new, get out of house or off your couch. When I’ve cut TV from my entertainment budget, I’ve been able to work on so many other hobbies and interests that bring me more joy than I was experiencing by sitting in front of my TV.

This also meant I cut my subscriptions to Spotify as well. So if you have music streaming services, fight through the ads for a bit until you can safely afford it.

Going out to eat

Going out to eat is one of the first expenses I suggest to cut when saving money for your budget. It’s also one of the most difficult for me to cut. As a single person and being on my own, I tend to use going out to eat as my few indulgences throughout my week or month.

There are a few aspects that can help you save money when going out to eat. Each option can vary depending on how much money you want to save.

One option would be to stick with the entree rather than making your meal a combo or adding on soft drinks, side, and desserts. Most of the time, this option will save you a few dollars during each meal but you will still spend money.

While ordering only an entree might be enough for some, others might require more sustenance. If you need the full meal, you might check rewards programs or coupons that save money. Rewards programs and coupons can help you save money by having free side items, discounted meals, or deals for a certain number of meals.

If you are wanting to save money entirely in this case, I would suggest making a meal plan throughout the week. You might plan each pay period’s worth of meals to coincide with your paycheck. To plan how much money you spend, you might pre-order your items online with your meals’ ingredients.

Shopping

Shopping can be a double-edged sword for some people. You need clothes and certain accessories but you don’t always need to pay full price for all of your items.

Clearance sections are always a great way to save a bit of money when you need to buy certain items. Some clearance items might not be marked down drastically but a few dollars is always helpful depending on how much money you wish to save. I would suggest finding items that are at least 25% off the original price.

There is nothing wrong with finding a thrift store, such as Plato’s Closet or Goodwill, to find the best deals.

When shopping, I’d also stick with staple items for your professional outfits. This way you can get the most out of your money savings. Finding a few black slacks or neutral color flats or heals are great to keep on hand. You also won’t be stuck with fads and trends when the season is over and you won’t have to buy new things with each new trend that comes into style.

Finding sales and bundles that can help you buy in bulk rather than by the item would also allow you to have options and variety in your purchases. Just make sure you are looking at the price per item when bundling items.

Save money on your utilities

My most recent venture has been to save money on my utility bills. The biggest expense being in my electricity but all of my utilities could be utilized better throughout the month.

One of the biggest aspects that I have found to be of use is unplugging my appliances when they are not in use. Since I am at work for most of the day, I am able to unplug many of my appliances, such as my TV, lamps, and cooking aids. I’m not using them throughout the day and might only use them for an hour or two when I return home.

Washing your clothes in cold water and air drying your clothes is another option for many people to save money on their utilities. Using cold water tends to use less energy than warm water that many detergents need. You’ll have to make sure you are using the correct detergent, like Tide cold water detergent if you choose to try this method. Depending on your clothing items, such as towels, you might have to use your dryer, but using a drying rack instead of your dryer will help you save money bit by bit.

Lastly, you might try turning off your air conditioning unit during the day. While you might turn off the air conditioning, you might try other methods to keep warm or cool. Opening windows, fans, and keeping plenty of blankets are great ways to keep comfortable inside. Depending on the season, maintaining certain temperatures inside the house might help you save money as well.

If it is in your power, you might also consider finding new companies to provide you with your utilities. If you are renting, this might not be available to you but you might try to find alternative options if you still find your bills to be higher.

Find free entertainment

Entertainment is different for everyone. For me, I enjoy a good book, music, and enjoying my friends’ company outside of my home.

Most of the time, you should be able to find free or fairly inexpensive options to entertain yourself without using your TV, utilities, or buying anything. Libraries, parks, and your local community center’s events provide many options to keep you entertained without a great expense to yourself.

While I love finding a good book, I tend to frequent the library before purchasing one, whether I purchase it from Amazon, Barnes and Noble or Half Price books. If I have already bought a book but did not enjoy it enough, I tend to return them to a book store, such as Half Price for a bit of extra cash back and for others to enjoy.

Parks are a great way to get your exercise without having to pay a subscription to a fitness center. Paying for a monthly fitness center is an excessive expense that can be redistributed towards another expense. While you might not venture to a park, going outside or finding a way to exercise indoors will save money all year round.

Local events also tend to be inexpensive or free. Your local city’s event center tends to have various events for all age groups. If you do not find anything that catches your attention, you might try volunteering at a local non-profit that interests you. Not only are you occupying your time, but you are also helping others at the same time.

Do you need more budget tips? Find other ways to save money and stop from living paycheck to paycheck in my e-newsletter.