What Financial Pros Do to Cut Unnecessary Spending
Everyone wants to save money, but a lot of people have no idea where to start. Luckily, financial experts are on hand to help you out. Here are nine tips that you should try right away if you’re worried about finances - some of them you may not have even thought of.
Buy Generic Products
This is a really easy switch to make, yet so many people don’t do it. Most generics offer virtually identical quality at a fraction of the price, because you’re not paying for fancy marketing and packaging. So give ’em a shot - you might find you don’t even notice a difference.
Cancel Unused Subscriptions and Memberships
If you’re juggling multiple streaming services or memberships, pick one that actually adds joy to your life and cancel the rest. Then review everything: gym memberships, magazines, apps. You could be losing hundreds of dollars a month without even realizing.
Reduce Energy Expenses
Financial experts have some ideas for you: hop in shorter showers, wash clothes in cold water, turn off lights whenever you leave a room, and fix that running toilet. These all seem like very minor things, but they’re not - over time they shave serious money off your energy bills.
Take Your Lunch To Work
Eating out adds up, and the average person spends nearly $300 a month on meals away from home. That’s just ridiculous. The fix is to pack your lunch and take it with you. Use fridge leftovers to make sandwiches or batch‑prep weekly meals. You’ll save money and likely eat healthier, too.
Stop Eating Out
When you’re trying to save money, eating out or ordering takeout should be the first thing to go. Skip the weekend restaurants and cook your meals at home. If you don’t know how to cook, it’s time to learn! And learning has never been easier now that YouTube is around.
Switch Your Cell Phone Plan
You can’t do without a cell phone, but they can get so expensive. Financial experts recommend shopping your mobile plan: compare alternatives, then call your provider to see if they’ll match the cheaper rate. If they won’t, just switch carriers. You don’t owe the company any loyalty.
Try a No Spend Month
Some people recommend trying a “no‑spend month” where you only buy essentials and forget all the extras – so no coffee runs, impulse buys, video game microtransactions or anything like that. For some, it works very well indeed.
Do It Yourself When You Can
Before paying someone else to fix your kitchen backsplash or whatnot, consider doing it yourself. A lot of the time, common household tasks aren’t that hard. You might have to spend some money on tools, but once you’ve got them you can use online tutorials to help you.
Avoid Stores That Tempt You
Everyone has that one store they go into and always end up buying something from. Well, you should be avoiding that store at all costs, no matter how tempting it is. Try staying away from it for a month or so and then look at how much money you’ve saved.
