If you are like most people, you could benefit from cutting a few budgetary corners. It can be painless if you focus on cutting what you don’t need and making a little more out of what you do.
1. Plan your weekly menu
If there’s anything that TV shows like “Extreme Couponing” have taught us, it’s that grocery shopping can be done on a tight budget. You don’t have to go to extremes. Save money by planning for roasted chicken when it’s on sale at 75 cents per pound instead of waiting until next week when it’s back at its regular $1.99 price. Moves like this can save you hundreds of dollars a year.
2. Review your mobile phone plan
If you’re finding overage charges on your phone bill, it may be time to upgrade your plan. On the other hand, if you find your usage regularly falls below your plan limits, check the lower-tier plans to see if there’s a better fit for your mobile phone activity. The savings can mean anywhere between $10 and a couple of hundred dollars a month, depending on the number of lines and your plan.
3. Get efficient with lighting and charging
Replace your old incandescent lights with CFL or LED bulbs. You’ll cut your energy usage by 50 to 90 percent. Unplug small appliances such as toasters, fans and cell phone chargers when not in use. They’ll suck energy from your walls even when they’re off. Using power strips for electronics that can be turned off when no one is home or when everyone is asleep can help to eliminate that kind of “vampire” energy use, saving you big on your power bill.
4. Review your entertainment habits
Take a look at your cable bill. You may want to consider cutting premium channels if you never watch them. Or, alternatively, you might save some cash if you can bundle your cable, phone, and internet together. Check with your cable provider for available bundles and if currently qualify for any.
If you have a monthly movie rental or a live gaming subscription you hardly use, eliminate it. Don’t renew magazine subscriptions and club memberships you’re not using, either – you may never notice they’re gone, but you will notice that extra money in your wallet.
5. Shop around for insurance
Insurance costs most of us a pretty penny, no matter what way you slice it. Make sure to do some shopping around. Check with a few insurance carriers to see if they can offer you a better deal on your auto, renters or homeowner’s insurance coverage or score you some additional policy discounts. This can often save you hundreds or even thousands of dollars per year.
Denise Holzer is a freelance writer specializing in personal finance and green living since 2004. A graduate from California State University, her recent work has appeared online at Green Your Apartment and other websites.
The above article is intended to provide generalized financial information designed to educate a broad segment of the public; it does not give personalized tax, investment, legal or other business and professional advice. Before taking any action, you should always seek the assistance of a professional who knows your particular situation for advice on your taxes, your investments, the law or any other business and professional matters that affect you and/or your business.
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