People often scratch their heads when it comes to managing finances. However, you can save more money with a little effort and a few smart choices. The only requirements are to stay vigilant and willing to cut down on unnecessary expenses.
Read on to learn 13 things to cut from your budget.
Online Subscriptions
It is convenient to read on the go or track your meals online. However, online subscriptions can add up quickly, and you often lose track of how many you have subscribed. From newspapers to fitness apps, these small monthly fees add hundreds of dollars a year to your budget. Canceling these subscriptions can lead to significant savings. Free alternatives exist; consider finding free services.
Car Washes
While keeping your car clean is important, paying for frequent car washes can drain your budget. Regularly paying for this service might be unnecessary when you can do it at home. A simple bucket, some soap, and a hose can keep your car just as clean for a fraction of the price. Cutting out professional car washes or reducing their frequency can save you a lot of money over the year.
Bottled Water
Many people carry bottled water. It is an expense that can be easily avoided. It is not only costly but also not environmentally friendly. As per the Safe Drinking Water Act (SDWA), tap water is safe to drink in most places in the United States. Invest in a good reusable water bottle. This switch will make you realize how much more money you save at the end of the month.
Cable Connection
Many people no longer need cable TV, thanks to the popularity of online streaming services. However, cable packages, especially premium packages, can be expensive, running from $40 to $145, depending on the cable provider and the number of channels. Evaluate your viewing habits and see if you get your money’s worth from cable. Lose the cable connection and opt for free TV options, such as digital antennas, that give you access to local channels.
House Cleaning Services
The average cost of cleaning your house by professional house cleaning services is $230. While house cleaners clean the house thoroughly, it’s pretty expensive. Calling a house cleaner once a week will easily add $1000 to your monthly budget. It is an avoidable expense; you can reduce the frequency and save some dollars.
Nail Salon Services
Manicures, pedicures, and nail art can be expensive habits. According to Statista, in 2018, approximately 8.36 billion US dollars were spent on nail salon services in the United States. Doing your nails at home can be a great way to save money. With affordable nail tools and online tutorials, you can achieve near-salon-like-quality results at home for a fraction of the cost.
Streaming Services
While streaming services are often cheaper than cable ($46 per month), they can add up if you subscribe to several. With so many options available, it’s easy to sign up for multiple platforms, even if you don’t have time to watch them all. Consider cutting back to one or two services. You can also rotate subscriptions, signing up for one service for a few months, then canceling it and trying another. This way, you can still enjoy different shows without paying for multiple services simultaneously.
Eating Out
Eating out is a major expense for many people. While fun and convenient, dining at restaurants or getting takeout can quickly drain your wallet. A survey of 1,000 Americans by US Foods says an average American dines out three times a month and orders a delivery 4.5 times a month. According to another research in the New York Post, an average American spends more than $2500 a year on eating out. With some planning, meal prepping, or cooking in batches, you can cook delicious meals at home and avoid the temptation to order out.
Data Storage
Many people often pay for cloud storage services without realizing how much they spend. Monthly fees for extra data storage can seem small, around $400 monthly for a single server but add up over time. Instead of relying on paid services, consider free storage options or external hard drives. Regularly clearing out unnecessary files can also help you stay within the free limits.
Buying Coffee From Coffee Shops
Daily trips to the coffee shop can be an expensive habit. Even if you only spend a few dollars each time, it adds up over a month or year. Invest in a good coffee machine and brew your coffee at home. Not only is it a much cheaper alternative, but you will also have more control over the taste and quality of your brew. Try making it a treat rather than a daily habit, and you’ll see your savings grow.
Gym Membership
Gym memberships are expensive, especially if you don’t use them regularly. Many people sign up with good intentions but do not go often enough to justify the expense. Consider whether you need a gym membership. There are plenty of free or low-cost alternatives, like outdoor workouts, home exercise routines, or using local community centers. If you still want to go to the gym, try finding a cheaper option or canceling during the months when you’re less likely to go.
Name-Brand Products
Name-brand products are often more expensive than their generic counterparts, but the quality difference is usually minimal. This is true for groceries, generic medicines, clothing, and household items. As per Statista, an American household spends $165 in weekly grocery expenditure in 2024. Switching to store brands or generic products can save you money without sacrificing quality.
Impulse Purchases
Impulse buying is a major budget killer for many people. Whether you grab something extra while shopping or order on Amazon or Shein while watching TV, these small purchases can add up quickly, leaving a dent in your finances. To avoid this, make a shopping list and stick to it, or wait 24 hours before making any unplanned purchases.