It seems like no matter what you do, there’s never enough money. Most people think the only way to get more money is to find a job that pays you more, but when we make more money, we tend to just spend it. However, sometimes the best way to make more money is to just stop spending it so blindly. If you cut these five things out of your life today, you can actually save money tomorrow and use it to put aside for a rainy day or to take away some of your stress.
With the barrage of technology available today, there’s really no need for you to spend an extraordinary amount of money on high cable bills when you likely only watch a few channels. Instead, why not consider finding ways to stream the shows you want? For instance, you can spend about $150-200 a month on your cable bill, when you can spend $12 a month on a subscription to Hulu that has all the TV shows you love. That’s a significant savings you can put towards something else you really want.
Cars cost a lot of money, especially when you factor in the monthly payment, insurance costs, fuel, and regular maintenance. Is there a way you can get by without having a car? For instance, can you use public transportation or walk/ride your bike where you need to go? If you do need a car, is there a way for your family to go down to just one car? Do you have an old beat-up car sitting in your driveway? If so, what is a totaled car worth and see if you can cash it in? There are plenty of ways you can cut down on your car needs, and then that money will free up some space for you in the future.
- Unused Memberships
It’s easy to sign up for memberships that seem useful or necessary that we may use once and then forget about. However, even a few memberships a month can add up to a significant amount of money. If you have a gym membership, a Costco membership, or anything else that goes unused, then cancel it today. Even that extra $20/month can add up to a nice savings that will add an extra $240 to your savings account every year.
- Unnecessary Homes
One thing most people don’t consider when it comes to saving money is to downsize your home. If you have a large home that costs too much money, then you’ll want to consider going into something smaller. This reduces your monthly mortgage payment and you can put that extra money towards something else, such as your savings or use it to pay down other debts you may have.
While we are inundated by technology, it doesn’t mean you need everything that comes your way. By getting rid of things like your brand new smartphone, your gadgets like Alexa, or anything else around your house that seems cool but costs a lot of money, you can take advantage of other savings that will help you have a financially free tomorrow.
Nobody likes to purge, but sometimes doing so and saving money is the best way to help you make smart moves to have a better future. By getting rid of the things listed above, you can save money.