Have You Thought of These Budget Cuts?
Tags: Money, Saving Money, Budgeting, Spending Habits, Finance

Saving money is something the majority of people could do better. There are always additional areas in life we could cut back on or spend more wisely. However, it’s very easy to turn a blind eye to unnecessary costs that add up quickly. Here are a few budget cuts that could help you find extra dollars each month and reach your financial goals faster.

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Subscriptions

Tim Denning gets really fired up about subscriptions, so I’ll let him go off in this post . Have you really taken the time to look at everything you’re subscribed to? Did you know that the cost of a cable subscription is probably cheaper, and encompasses way more than what you’re paying for with individual subscriptions? I have Hulu Live right now for one show, and I realize it’s an absolute waste of money. If you just can’t give up a certain show, meal from Hello Fresh, etc, understand you have more options than just saying goodbye.

Could you share it with someone? Does that Patreon podcast go live on iTunes a couple of days after subscribers hear it? Can you recreate that boxed meal at the grocery store?

Photo by Charles Deluvio on Unsplash

Pet toys

Hot take for pet owners out there: most of what you buy for your dog is actually for you.

My dog has a bone, a ball, and a rope. He becomes the house hype man every night at exactly 9 pm. After zooming around and barking, he’ll bring me his ball and ask me to throw it a few times. About 20 minutes later, he’s exhausted and goes back to sleep.

Once a week, he’ll bring the rope toy instead of the ball. The bone is reserved for dinner time. After trying to beg for our food and getting rejected, he gives out a heavy sigh and chews on his bone for a couple of minutes. Anything else that I’ve ever bought him just gets destroyed or takes up space. He’d much rather throw an old sock around than have a new toy.

Next time you’re thinking of going to Petco because your cat looks like she had a rough day, just give her some snuggles and call it good. Your animal is a minimalist. They would rather have you partaking in the FIRE movement so you can retire early and pay more attention to them.

Plants

Everyone loves a good house plant. Did you know if you have one, you can have dozens? Here is a short and sweet article explaining plant propagation. You can even start your first plant for free by asking a friend for clippings off of one of their houseplants. Propagations make excellent gifts, too. Imagine if someone grew you your birthday gift!

Photo by Micheile Henderson on Unsplash

Plant food

Continuing with the plant theme, I waisted some money on plant food this summer. My tomatoes started experiencing bud rot, and I was devastated. I ran to my local hardware store and spent $11 on an organic bud rot food, which ended up being mostly chicken poop.

I told a friend about my garden struggle. She said “oh, I just crush up eggshells and Tums and mix them into the soil. Works like a charm.”

Eggshells and Tums, two things that were already in my house and also didn’t smell like chicken poop.

Lesson learned. Always research home remedies for garden care before spending money.

Containers

I get the appeal of a perfectly perfect set of mason jars, filled with dry goods, labeled symmetrically, lined up in your pantry. It just isn’t worth the money when you toss usable containers in the recycle bin every week!

Buy the same pasta sauce for a month if you need the containers to match, but please don’t overlook the packaging you’re already bringing into the house. It’s best for the environment and your wallet to save and reuse jars and containers and reuse them in the kitchen.

Electricity

Did you know electricity is cheaper during off-peak hours? Doing your laundry at night can actually save you a few cents per load. Think about it, when electricity is in high demand, companies are able to charge more. Chores before the sun comes up or after you put the kids to bed is an easy way to pay yourself.

Photo by Michael Longmire on Unsplash

Bank fees

When I had some extra time on my hands at the beginning of quarantine, I was casually combing through my bank statements. I realized that a new account of mine was charging $5/month in “bank fees”. Never ever pay for these. Demand a different option from your bank, or move your money somewhere else.

I’ve heard that sometimes it’s as simple as calling and saying “I want this removed”.

I chatted with an associate from Bank of America using their online instant messenger service. I just asked what other options I had, and I learned that because of the direct deposits I was making, I qualified for an account with a better interest rate and no bank fee. They switched my account over, didn’t even have to change any account numbers, and all of my automatic withdrawals and direct deposits kept functioning as normal.

Remember, banks make money by investing the money you are holding in them. They’re good, they don’t need your $5 a month. Don’t let them get away with that.

Every day, we are confronted with hundreds of ways to not spend money. Each time you avoid temptation from an ad, walk right past the snack aisle, or say no to Starbucks, you are paying yourself. I hope these ideas add funds to your wallet and progress your financial goals.