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Easy ways to reduce your monthly spending and save money

30th June 2021 Print

If you are like every other person in the world, you are quite tired of all of the monthly bills and expenses that keep coming due. Thankfully, there are many ways you can lower your bills, not just temporarily, but for the rest of your life. Here are just a few of the ways that you can make sure more of your money is staying in your pocket where it belongs.

Watch Out for Drafts

In this case we don't mean overdrafts, although you certainly want to watch out for those as well. Here we are talking about actual drafts, as in the ability to feel air coming into or escaping from your home. If you can feel drafts around the house, this means that the air conditioner in the summer and the furnace in the winter are working overtime, not only increasing your energy bill but shortening the life of your appliances as well.

Cut the Cord

If you still haven't cut the cord yet in regard to your television entertainment, what's stopping you? These days, there are so many options for streaming content that you can watch virtually anything you want without a monthly cable bill. The truly thrifty know that there are plenty of free options available that are ad-supported and for the commercial-free name brand streaming options, you can always take advantage of the many free trials that are routinely offered throughout the year and binge watch what you want before the trial is up.

Student Loans

If you have graduated from college, you are almost certainly carrying a hefty amount of student loan debt. This also means that you have a monthly payment that you are obligated to pay. However, many people are unaware that you can refinance your current student loan with a loan from a private lender. What this does is give you the possibility of being able to lower your monthly expenses as well as even reducing your interest rate on the loan. This can save you a ton of money in the long run and you can use the money you save to do whatever you want.

Make a Shopping List

Before you go on your weekly shopping trip, make a list of everything that you are either out of or low on. Make up a daily mean plan of what you will be making for meals. If you are a true thrifty shopper, only buy meats or fruits and veggies and go from there. You have to be flexible with this latter option, but it is truly the best option to save you money on a regular basis. Avoid buying name-brand items whenever possible. Stick to generic brands, they are very often the same product with a different label on the packaging.

Shop Around for Insurance

Once or twice a year, when it is time to renew your auto insurance, shop around to see if your current carrier still has the best rates. Ask if they have insurance packages where you can combine policies to save even more money.