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Do you find you’re getting paid and as soon as all your bills have come out there’s barely anything left? Or you’ve been budgeting but still finding there’s nothing left to add to your savings?
Sometimes it’s the little things you don’t realise you’re spending so much money on, and they all add up to have a significant effect on your budget. Or maybe it’s the bigger things you think we can’t do without. Whichever it is, there are lots of things to try cutting out from your budget to help save money.
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17 Things To Cut From Your Budget To Save Money Each Month
1. Eating out
You can eat at home so much more cheaply than eating out! I’m not suggesting you never eat out again, but take a look at how many times you eat out and the moment and try and cut it down.
2. TV Subscriptions
TV packages such as satellite and cable can be so expensive. Even a basic TV Licence will set you back over £150 a month. Think about how much TV you watch and the programmes you enjoy and consider whether a cheaper TV subscription would be enough. Both Netflix and Amazon Video offer loads of content for a low monthly cost.
3. Ready Meals/ Prepackaged Food
If you can buy the ingredients and make things yourself, it can be a lot cheaper than going for pre-made options.
4. Starbucks/Fancy Coffee
Oh, who doesn’t love a fancy coffee? But seriously, if you’re a bit of a coffee addict and find yourself popping into your favourite coffee shop on your way to work everyday, think about how much the cost of those coffees is adding up over a month! Cutting down the coffees so it’s an occasional treat rather than an everyday thing can make huge savings.
You don’t have to give up coffee of course – invest in a good thermos or travel mug and bring your own with you.
5. Magazines and Newspapers
Obviously sometimes it’s nice to have a physical copy to flick through but nearly everything you can find in a newspaper or magazine is available for free in an online version. Most of us have a smartphone or tablet device nowadays so it’s easy to use technology to read on the go as well.
6. New Clothes (just because)
Of course, when clothes wear out it’s good to replace them, but buying new clothes all the time just because you fancy them can be an expensive habit. Even if you only shop in high street chain stores and think the clothes you buy don’t cost very much, if it’s a regular occurrence it can really add up!
Choosing to only buy new clothes when your old ones wear out, or limiting the amount of times you shop for new clothes can be a great money saver.
I’m not saying go vegetarian (unless you want to!), but meat is pretty expensive so reducing the amount you buy can have a big impact on your grocery spend. Why not try to reduce the amount of meals you have that include meat? If you have meat everyday perhaps take 2 days a week to start with and have meat free meals on those days.
I love books, but they can be pricey! Make the best use of your library and borrow books for free. A lot of libraries also offer e-books too, so you can borrow books for your e-reader as well!
9. Interest Payments
If you’ve borrowed money, especially on credit cards, interest repayments can be a killer! It’s worth investigating if you are able to transfer your debt onto interest free credits cards. This is a great way to help reduce your debt repayments and help you to pay off the debt faster.
Cutting down the amount of alcohol you buy is a simple way to save money each month.
11. Gym Membership
Did you vow to get fit at the start of the year, take out an expensive gym membership and then…never go? Cancel that and pocket the money! There are so many free ways you can get fit as well that if you’re not making the most of a membership might be a better option.
No, don’t get me wrong I’m not suggesting you go full on Scrooge! It’s lovely to give gifts, but consider whether you’d be able to make a gift or give time instead. People appreciate homemade gifts and it can show a lot of thought and effort.
Smoking is probably one of the MOST expensive budget killers! Cutting cigarettes from your budget can save literally hundreds.
This one is hard, I am a total sucker for a takeaway! Especially when you’ve had a hard day and you just don’t have the energy to cook and the option of someone else cooking your food and bringing it to your door is just soo tempting!
They are expensive though, so trying to reduce the amount of takeaways you buy can really save money on your budget. A great idea is to make sure you include some really easy meal options when you go shopping, so that when you’re feeling exhausted you still have something super easy you can just throw in the oven.
15. Trips to the Salon
Hairdressers, nail salons, beauty parlours – all these places can come with a pretty price tag so it’s worth considering whether you really need to include them in your budget. Maybe you could do your own nails, or switch to a cheaper hairdresser?
16. Branded Products
Whether it’s shoes, clothes, accessories or even food, anything branded comes with a higher price tag. Choosing to go for a non branded alternative is much better value. You don’t necessarily need to compromise on quality; there are plenty of non branded products that are just as good for a much lower price.
17. Anything Full Price
Speaking of price, why pay full price for anything if you don’t have to? Shop around to get the best deal and make good use of price comparison sites to find the best offers. Browser extensions like Honey will automatically search and find the best discounts for you.
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