4 Ways to Cut Unnecessary Expenses

If you’re looking for real, actionable ways to cut costs at home, try using these easy money saving tips.

Cut the Cable Cord

According to findings from the FCC, the average cost of cable is $64.41 per month. That’s over $700 a year! And if you have a bundle package of cable and Internet, you can quickly find yourself paying thousands of dollars annually.

Cable television can take a major toll on your wallet, so if you’re really serious about saving money, start by cutting the cable cord and replacing your in-home entertainment with one of these cheaper streaming services:

  • Netflix – $8.99 per month
  • Hulu – $8.25 per month
  • Amazon Prime – $8.25 per month
  • Crackle – Free

You can even purchase all of these services AND a streaming device (such as an Apple TV or Roku) and still pay less in a year than you would with cable.

Besides, do you really watch all those channels?

Dine At Home

This one shows up on a ton of “money savings” lists, and for good reason. Dining out will add up quickly, and cutting this luxury from your budget can really help pinch those pennies.

Of course, the number one thing that makes dining out so attractive is the convenience. One way to combat the urge to eat out is to sit down every month, make a meal plan, buy ONLY what you need for meals at the grocery store, and then, above all, stick to your plan.

And if you need help planning your menu, the Internet has a wealth of simple, cheap meals for lunch and dinner. Try out these simple crock pot meals, these 52 cheap and easy dinners, or these cost effective lunch ideas.

Resist Your Credit Card

Credit cards are great for a lot of reasons, especially when you need money fast. Unfortunately, the average American household has over $15,000 in credit card debt. And it’s really hard to get your head above water when you keep adding more expenses.

If you owe money on your card, stop using it and work on paying the debt. And if you happen to keep up with your payments every month, use your card only in emergencies.

One easy way to resist the urge to use your card is to not carry it with you everywhere you go. Keep it at home in a safe, secure place and take it out only when you need it.

Shop Thrifty

Everyone needs new clothes from time to time, but if you’re trying to cut costs, don’t go spend $100 on a pair of pants at a popular department store when you can get much more for much less at your local thrift store.

There are also many popular bargain stores, such as TJ Maxx, Ross, Khols, or Dirt Cheap that regularly feature deals, coupons, and sales that can help keep your clothing costs low. Or, if you know your exact size and don’t need the dressing room, there are plenty of online stores that offer great styles for low prices, such as the 10 Dollar Mall.

If you’re looking for more ways to save money, our friends at Nerdwallet have some great resources.