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Whether you’re just trying to get your finances back under control or you want to reach a goal, such as rebuilding your savings or buying a new home, there are plenty of ways you can adjust your budget to allow for these changes.
Here are 7 easy swaps you can make that can free up some money so you can spend it more wisely, save it, or put it toward debt. If you’re paying off debt, using a debt paydown calculator first can help you fit the payments into your budget accordingly.
1. Eat at Home
With how busy life can be, drive-thrus and food delivery services can be quick and easy, but expensive, options. If you’re short on time, shopping and cooking can seem like a hassle, but they will be beneficial in the long run. You can even do curbside grocery pickup to save more time. The amount of money you’ll save on food from restaurants will add up.
2. Subscription Services
The idea of memberships and subscription services sounds great; you pay a monthly fee and you get access to your shows or music without ads, or you get a box of new makeup or wine to try out each month. But how much are you using these services? When you stop to think about it, you may discover that you’ve been wasting your money on these subscriptions for a while.
3. Work Out at Home
Another way that people can save money is on gym memberships. Even if you go 3 times a month, is it worth the fee you’re paying? There are several great free workout apps available for both Android and Apple devices. These apps give you access to resistance workouts, yoga classes, cardio routines, and more for free. Consider using one of them instead.
4. Reevaluate Your Cell Phone Service
Having a phone is pretty much a necessity, but you could be overpaying for your service. Call your provider and see if any cheaper plans still fit your needs. Alternatively, you could switch to another, more affordable or prepaid company, such as Cricket Wireless, Metro, or Boost Mobile.
5. Look Around for Cheaper Internet Plans
As far as cutting your internet costs go, you have a couple of options. As with your cell phone provider, your best option is to call your internet provider and see if there are any lower rates available. You can also cancel and switch to another provider if you can find a more competitive rate elsewhere.
6. Save Money on Utility Costs
Power and water are necessities, but there are ways you can reduce how much you pay for them. Some easy ways to cut costs include:
- Replace incandescent bulbs with LEDs
- Install a smart thermostat that allows you to adjust the temperature when away from home
- Unplug your unused electrical items
7. Shop Around for Cheaper Insurance
Insurance is another necessary expense. From homeowners insurance to medical and auto insurance, these costs add up. It’s worth it to call your providers and try to negotiate lower rates. If that doesn’t work out in your favor, shopping around for cheaper options is a good backup plan.
Get Your Budget Under Control
Money can get tight, but depending on your unique situation you may be able to save a substantial amount by following these tips. Things that may have a viable alternative, like a gym membership, are a great place to start, as well as things that can save you money continually, like LED upgrades and smart home equipment. No matter your situation, you should be able to take advantage of some of these ideas to help get your budget under control quickly.