Wednesday, September 9, 2020
  • Money

10 Ways to Cut Down Your Monthly Expenses.

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N. Pompi Devi
Mountains aren't just funny, they're hill areas.

If you are a little tight on money and need some way to cut down your monthly expenses, well this is the right article for you!

So, without further ado let’s begin.

1) Write down all of your monthly expenses.

First things first, it is important for you to write down ALL of your monthly expenses. By doing so, you can cut down your costs wherever it’s not needed.

Often times, we tend to spend a dollar here and there without much thought. As such, by writing down your expenses, you will be able to better manage your finances.

2) Consider cancelling newspaper or magazine subscriptions.

If you are tight on money, then yes, cancelling newspaper or magazine subscriptions will help you. If you are keen on reading, then hit up the local library.

3) Travel expenses.

One way to cut down your monthly expenses is by travelling in public transportation. If you have the opportunity to hitch a ride with your co-worker or friend, then please do so. This will greatly reduce your expenses on gas, parking and maintenance.

4) Reduce eating out.

By resisting the urge to eat/take out, you can save up and reduce your monthly expenses. Eating/taking out can be an easy way to go, but the costs are tremendous. Therefore, be strict with yourself and resist the urge to eat out.

5) Sell your unwanted stuff.

Sell all your things which you consider to be useless or unwanted. Sell it on eBay or have a garage sale. By getting rid of all the unwanted stuff, you not only will be able to have more space in your house but your pocket will also be a little heavier.

6) Simplify your beauty regimes.

It is easy to get intrigued by expensive beauty products but these cost quite a lot too. So, stay hydrated, drink plenty of water and maintain a good diet. Replace expensive creams with coconut and almond oil. At the end of the day, you have a healthy skin and your finances do not suffer.

7) Consider opting for cash only.

If you are not one to constantly supervise your finances, then it is best that you try to make payments in cash only. By doing so, you will be able to keep track of how much you’re spending and thus, you will be able to keep track of your expenses.

8) Cancel gym membership.

Opt for working at home. Try using work out apps and YouTube videos. You can also go for jogs in the morning, cycling, walks in the parks and doing weights at home. Keep in shape while you cut costs every month.

9) No take-out coffees.

If you’re an avid coffee drinker, then it is high time that you start making yourself coffee rather than buying from outside. By doing this, you can save up to $55 every month.

10) Do not take out any pay day loans.

While you are tight on money, it is best that you do not take out any pay day loans. The adverts might seem highly attractive but the interest rates on these pay day loans aren’t attractive at all.

In conclusion:

Just because you are tight on money now, doesn’t mean that you will forever be. By taking even the small aspects of living into considerations, you can save up a lot. Remember, what you are doing now will impact how you live and enjoy in the future. There’s no shame in being a little money conscious now.

What are your thoughts on this? Comment down below!

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