5 Easy Ways to Lower Your Monthly Expenses From Your Couch


        Side-hustles are all the rage right now. Selling products online. Affiliate marketing. Driving for Uber and/or Lyft. Writing a book or monetizing your blog. There are tons of options and looking for alternative ways to make extra money is great but let’s face it, not everyone has the time to do so. So how can you increase your available cash without an additional source of income? Simple, you lower your monthly expenses.

        I know to some this may seem impossible. But it’s a lot easier than you think. There are lots of ways to lower your monthly expenses but this list is focused on things you can do without making any significant changes in your life, (i.e. moving, selling your car, etc). These are ways/tips you can use to lower your expenses from the comfort of your couch and all you need is your phone.

Cancel Unused Subscriptions - You’re probably thinking of course, this is a no-brainer -- but according to a 2019 GoBankingRates survey thousands of Americans waste an average of $348/year on subscriptions that they aren’t using. This includes streaming and other entertainment services, food and beauty subscriptions, and of course we can’t forget about that good old gym membership.
  • I saved $30/month ($360/year) when I cancelled my gym membership that I was no longer using, opting to use free YouTube videos for my workouts or just taking a walk (which is also free).
  • I saved another $30/month ($360/year) when I cancelled my LifeLock membership. I initially got it to help protect my identity. Then I was just paying for a piece of mind. Eventually, I was just using it as a way to get my updated credit score which I realized I was getting for free from my bank and TurboTax.
  • I opted to get rid of my FunFitFab membership (I only joined because they were running a promotion) and saved myself from spending $50/quarter ($200/year) on beauty items, most of which I never even used.


Shop Around for Cheaper Options - I think a lot of us get stuck in a 'set-it and forget-it' type mindset. We sign-up for subscriptions because at that time it’s something that we need (or at least think we do) but then never check-in again to confirm that it’s a service we still need. In some cases it is. So unlike above, I would not suggest cancelling it but I would suggest searching around to see if there are cheaper options available to fulfill that need?
  • In my last post, I talked about how I cut the cable and used SlingTV as one of my alternatives. I really liked SlingTV and had it for about two years. However, towards the end I noticed I was no longer watching any of the channels that they had to offer and was only using the service to stream my local news in the morning. Like I said before being about to watch the local news while getting ready for work is a must but I didn’t think it was worth $24.99/month (~$300/year). So I began to shop around and found that I could get my local news with CBS Access for $5.99/month (~$72/ year) Just by taking the time to reevaluate my expenses I saved myself $19/month ($228/year).
Ask for promotions/discounts - This is another option that seems apparent but many people don’t realize or are afraid to ask for promotions. This used to be me. The price was what it was and if it went up, yea I’d groan and complain but for the most part I’d just pay it. It wasn't until the price change on a cable bill (back when I still had cable) went up significantly that I decided to call. When I told the company I planned to cancel the service because the price was too high they transferred the call to the retention department who was actually able to get me a cheaper price. This doesn’t always work but it never hurts to try and generally the company will try to find a way to lower your bill to retain you as a customer.



Bundle services - A lot of insurance companies will offer you a discount by adding additional policies. You can save money by using the same company for your home/renter’s insurance and car insurance.

Cut-back on the use of certain services - I have used meal delivery services in the past -- Hello Fresh, Blue Apron, and my preferred choice (and what I currently use) Sunbasket. But as we all know these services aren’t particularly cheap and can have a huge strain on your wallet. But it is a service I enjoy. I learned new recipes, gained cooking skills, and discovered new foods that I like that I would have never thought to buy from the grocery store. However, knowing the cost involved I decided to opt to only get deliveries every 4 to 6 weeks. Helping me save money while not having to completely deprive myself of something that I like.

Hopefully, you are able to use some of all of these suggestions to help lower your monthly expenses. As I stated before there are tons of ways to do this. If you have one that you use to help keep your expenses low, please share below. I'd love to hear about it!


If you liked this article be sure to join my e-mail list. You can also follow me on Twitter and Instagram. Let's connect and keep the conversation going!

Comments

  1. Really useful - I’m currently on a quest to save as much money as possible so I’m a big fan of shopping around for better deals x

    ReplyDelete
  2. Great advice! We did this recently with a subscription that got too expensive. We ended up with 50% off.

    ReplyDelete
  3. You nailed it with the set it and forget it mentality. I've set quarterly reminders in my calendar to help combat this.

    Another huuuuge trick is dropping your cell phone carrier. I moved off of Verizon and switched to Cricket Wireless where I pay close to a third of my old bill. There are tons of these smaller carriers that piggy back off the big company's signals and then charge you pennies for a slimmed down plan. I love it.

    Keep slinging these tips, SDot!

    ReplyDelete
    Replies
    1. I appreciate the feedback Seth! And that's a great point about smaller cell phone carriers, this is another great way to save money!

      Delete
  4. Very informative post. Changing cable providerS has helped a great deal. We’ve been using iptv and it’s so much cheaper. Also, I have found that working from home has helped me save. No more McDonald’s morning coffee and less spent on transportation.

    ReplyDelete
    Replies
    1. Yes working from home have saved me so much money on small purchases that I never realized was costing me so much.

      That's great that you were able to switch to a cheaper cable provider, it's amazing how much we can save if we take the time to shop around.

      Delete
  5. This is a great post. I couldn't agree more that it's important to cut down on your monthly budget because it's not always possible to pick up an additional stream of income. I personally think that this should be something that everyone does before they even decide to start earning more

    Roni | myelevatedexistence.com

    ReplyDelete
    Replies
    1. Thanks for the comment Roni! Yes, I understand the importance of having more than one stream of income but I don't want people to feel that if they don't that they have somehow failed. There are lots of options to increase your available cash. You just have to figure out what works for you.

      Delete
  6. The unused subscriptions is such a good point! I realised a few months ago I was paying two mobile phone contracts- saved myself £35 a month :)

    ReplyDelete
    Replies
    1. Oh no! Paying for two phone contracts? That sucks but I'm glad you realized this! Thanks for the comment Katie!

      Delete
  7. These are some simple changes that people don't really consider. Even subscriptions can make so much difference. Thanks for sharing!

    ReplyDelete
  8. I cancelled by beauty boxes as well especially when the items I got weren't that exciting! Thanks for sharing this post on how to lower expenses money every month!

    Mari | www.dazedmari.com

    ReplyDelete
    Replies
    1. Thanks for the comment Mari! I totally agree, I think I was more excited waiting to get the boxes than I was with what was in the boxes. But you live and you learn. And hopefully, you learn that this is money you could be saving lol!

      Delete
  9. This is such an insightful post! I’m always looking for ways to save money so this is so helpful. I deffo agree on looking for cheaper options, it takes a little more time but it’s so worth it!

    If you’d like to check out my blog please click the link below ❤️ https://collettepratt2000.wixsite.com/website/post/what-does-protein-really-do-and-how-much-should-i-have

    ReplyDelete
    Replies
    1. Thanks for the comment Collette! And sure I'll check it out!

      Delete
  10. I have done this soooo many times with Sprint lol! I think they have just opted to tell me that I am paying the least, but I know I can get my bill lower! After reading this, I will have to try and call every bill I have and see if I can bargain for a lower rate. Starting with my car insurance today! Thanks for the information! Always a plethora of knowledge!

    ReplyDelete
    Replies
    1. LOL Sprint's probably like don't answer the phone it's Britt again! Hahaha....but you keep calling. It's your money and if you're able to get a cheaper deal do it. And if that means shopping around and possibly leaving Sprint sometimes that's what you may have to do too! Thanks for the comment!

      Delete
  11. Lovely post eith so many great tips that are not that difficulttto cut back on.

    I've always wanted to try meal deliveries but the price alone always deter me ����.

    Thanks for sharing.

    ReplyDelete
    Replies
    1. Thanks for the comment Rebekah. I started using meal deliveries because I received a free box from one of my co-workers. I do like the convenience and it takes out the planning of meals which can be helpful. But you are correct meal deliveries are not cheap which is why I decided I needed to cutback.

      Delete
  12. These are good--espeically subscriptions. I know i have ones and I somehow don't do it. I'm going to cancel some today! thanks :)

    ReplyDelete
    Replies
    1. Yes Dana! Save that money, especially if they are subscriptions that you aren't using.

      Delete

Post a Comment

Popular posts from this blog

3 Financial Numbers Every Adult Needs to Know