It’s gotten to the point where most Americans can’t afford to ignore their finances anymore. Many feel trapped by their living expenses, with monthly bills being one of the most oppressive of them all. But these five simple adjustments can cut those bills down to size — without needing to spend more money to make it happen.
Conduct an Energy Audit
There’s a good chance you already have access to a free energy audit tool from your utility company that can help you identify money-saving areas. That could be fixing leaks, upgrading to energy-efficient appliances, or changing your habits (such as unplugging devices when you’re not using them). Some of these changes might cost money, but unplugging your computer when you aren’t home? That’s as easy as they come.
Evaluate Your Subscriptions
One of the biggest offenders of monthly bill bloat is unnecessary subscriptions. So just like your energy audit, it’s time to reconsider their value. Sit down with your bank statement and highlight each subscription. Are you scratching your head wondering when you even signed up for the service? Or is it something you use every day and couldn’t live without?
Either answer is fine — but you should know the answer, and this is likely the only way to find out. Once you have your answer, start canceling! You can use another app to help with this, but we’d argue that method isn’t as simple as it sounds, nor is it frugal, since it can cost money.
Use a Budgeting App
Many people feel overwhelmed about their finances to the point where they ignore them. Which, as you probably already know, doesn’t make them go away. Instead, take the power back with a simple but effective budgeting app. The most important thing about this app should be that you like to use it. If you find an app frustrating or confusing, there’s virtually no chance you’ll stick with it. We love YNAB, but go ahead and try out a few to see what works for you, especially since YNAB isn’t free.
Rethink Your Transportation Budget
How do you get around? If you’re still taking cars to locations where you could easily walk, bike, or take a bus, you’re probably spending more on transportation than you should be. It’s one thing if you have a car (although you could still save considerably on gas if you cut back on driving), but it’s another if you’re doing rideshares all the time. Ask yourself if the 15-minute bus ride would be that much less convenient than the 10-minute car; you’ll usually find it isn’t.
Get Informed
There are resources out there to help you save on monthly bills — you have proof because you’re reading one right now! But this is only one of many; join online communities, ask friends and family for tips, and do your research. There are a surprising number of ways to lower your monthly expenses that are unique to your situation, so gathering intel with that in mind can help you narrow down to something that really works.
