5 Easy Ways To Lower Your Monthly Bills

Did you know that people don’t have enough money to cover a thousand dollar emergency? If you want to learn how to lower expenses and save more, we can help.

In this guide, we’ll go over how to lower monthly bills. Want to learn more? Keep reading.

1. Track How Much You Spend

The first step you’ll need to make to lower your bills is to see where you spend your money. Track your spending for a month, and you’ll see how much you spend on eating out or going to the movies.

After tracking your money for a month, you may get surprised by where you’ve overspent. When you know what you’re spending each month, you can make adjustments and save.

Start by writing down everything you spend each day. You can use an app or record it on your phone. Do you always pay with your debit or credit card? You can find all this information on your statement.

See what you spend and decide what you need and what you want. Print out your statement and choose two different colored highlighters. This way, you can highlight the difference between the two.

Some banks will have a pie chart on your debit card account and reveal the spending categories. If you pay with cash, keep all your receipts.

2. Stay On A Budget

You don’t need to make a complicated budget for your spending. Keep a simple plan, so you know where your money will get spent. Separate your spending into wants, goals, and needs.

Track and adjust as you go. Divide money every month toward specific goals. Getting rid of debt should be one of your primary objectives. Don’t take money away from that area to spend on leisure areas of your life.

When you track your spending, you’ll see where you can cut back on. Consider putting that money onto your debt.

To decide on a budget, you’ll need your fixed bills, income, and needs. Needs can include medical expenses, gas, and food. Fixed bills will include utilities, car payments, rent, and insurance.

What you have leftover can be your spending money. But first, decide on an amount to put into an emergency fund. Use some of the remaining funds to go onto debt.

After you complete your budget, you might have a bit of money left over for leisure activities. But don’t get discouraged; we have a few ways to cut down your spending and help you save more.

3. Get Rid Of Some Subscription Services

Most people have subscriptions to streaming services, cell phones, and cable television. After you set one up, you tend to forget about it. Every month, the money will come out of your bank.

Take a close look at your subscriptions. Ask yourself if you need the current subscription, if you use it a lot, and could you live without it?
After canceling the subscription, get rid of newsletters or advertisements from that source.

Don’t pass this step if you think it’s challenging to get rid of the subscription. You might think it’s a small expense that’s not worth taking the time to remove.

Yet cutting these expenses can save you money each month and go toward debt or a savings fund. If you’re having trouble with Hulu, learn how to cancel hulu.

4. Cook And Eat at Home

Save yourself money by preparing and eating food at home. Choose a day to meal prep for your week.

Decide what you will eat each week, buy groceries, and cook your meals. You can find tons of cooking recipes online if you need some inspiration.
If you’re too busy to cook a lot of meals throughout the workweek, make your meals on the weekend. Cook up chili or a casserole that can stretch over a couple of days.

Make sure you add a few side dishes to change up the meal each night. Separate your meals into different containers. This way, you can grab and eat if you’re busy.

Make casseroles, chili, and soups and freeze them into one-meal containers. If you have a busier season coming, you can haul out your prepared meals. You won’t overspend on takeout food on your way home.

Invest in a bunch of one-portion containers. You can bring lunch to work now and heat your meal each night for supper.

5. Bring A List When You Go Shopping

When you go to the store, make sure you bring a shopping list. Keeping a plan with you can cut down on expenses. You won’t pick up a bunch of impulse buys.

Look for bargains before you go shopping. Check if any specials or discounts are going on. Plan your meal prep around the sales at the grocery store.

Keep a running list during your week so you can plan your meals for the upcoming week. Add items on your list that you’ve used up.

Put items together like dairy, deli, produce, so you don’t wander around the store and miss items. You also won’t end up walking down the junk food aisles and picking up things you don’t need.

Make sure you compare brands and find the cheaper one.

Now You Know How To Lower Monthly Bills

We hope this guide on ways to lower expenses was helpful. Make sure you track your spending and see where you can curb costs. Now that you know how to lower monthly bills start saving money.

Don’t forget to check our other helpful resources on technology, health, and more.