Making a cut to your budget can really help you to step up your savings game. But the big question is what do you have to do to reduce your monthly expenses.
Should you cut back on your spending in general? Or, would it be better to only reduce your spending in areas where you know you have a tendency to overspend?
The interesting thing about it is that your financial situation varies from everyone else. So, the way that you cut your expenses will differ too.
However, you may still share some expenses in common. So, I’m going to tell you nine expenses that you need to cut from your budget.
1. Eating Out
I think that we’ve all been guilty of spending too much money at our favorite restaurant. But those daily (or weekly) food runs can really put a dent in your budget.
For instance, if you buy an $8 meal a few times a week, you’ll spend nearly a hundred dollars every month.
2. Food Delivery
Another bad spending habit that many of us might have is using food delivery apps. Services such as DoorDash, Grubhub, and UberEats, are very convenient. However, they can also significantly increase your out of pocket expense when it comes to food.
And, besides the food delivery fee, an additional cost that has to be factored in is a tip for the delivery driver.
So, the easiest way to save money is to just limit how many food deliveries you have every month.
3. Car Wash
Another monthly expense that you can cut from your budget is your car wash expense.
And, although you may get away with paying only a few bucks for an express wash, going to a fully automated car wash could cost you anywhere from $15 to $55.
So, although it might take more time and effort, washing your car at home can definitely help you save a lot of money.
4. Shopping For Clothes
Another cut that you need to make to your budget is your clothes expenses. You most likely have everything that you already need in your closet. You just need to look through it.
However, if you still find that you need to buy clothes, try thrifting for second-hand clothing that fits your needs OR repurposing clothes that you already have.
Not only will this help you save money, but it will help the environment too!
5. Hair Salon/Barber Shop Visits
First of all, I’m going to start of by saying that there are certain things that only your hair stylist (or someone with adequate experience) should do. However, some of the hair care services that you receive at the salon/barber, can be done at home.
However, don’t get me wrong, it’s perfectly use these services for special occasions or events. But some services such as blow outs, styling, and even some hair cuts, can be done at home. All you need is a little time, effort, and research.
6. Subscription Boxes
The ability of subscription box services to curate items to our taste (while also hitting us with a hint of suspense) can be quite exciting. So, subscriptions with companies such as Hello Fresh, FabFitFun, and Bespoke Post are taking off.
However, these subscriptions are not really necessary and can end up with you spending hundreds of dollars on things that you may not even use.
7. Streaming Services
Another way that you can reduce your expenses is by cutting streaming services from your budget. And this is especially true if you don’t use them.
Instead, you can try free streaming service alternatives or replace your TV time with another activity.
8. Cell Phone Service
Another way that you can cut back on your expenses and save money is by changing your cell phone service provider.
Averagely, these services can be around $114 per month. However, some cheaper alternatives can offer similar services for around $20 to $30.
9. Drinks
If you’re trying to think of a way to cut your expenses, look at the beverages you drink. From coffee to soda and sparkling juice to alcohol, you will be amazed at how much money you are really spending.
So, consider drinking a more budget-friendly and healthier choice (aka water).
Hope that you enjoyed this post! Which expense do you need to cut from your budget to save money?
Hannah Roberts is the creator of Do. Live. Study. She loves to learn new things and hopes to help others as they go throughout their journey as an adult. You can connect with her below.