TRIM DOWN THOSE EXPENSES WITH SIMPLE LIVING
Do you find yourself struggling to make ends meet weeks before your next salary, even though you’re sure you get enough compensation to sustain your everyday needs and occasional wants? Are you getting all stressed out because of those piled bills on the kitchen table? If your answer to these are all yes, then you might be overspending. Sure, you have your savings and you know the art of budgeting your finances, but maybe, it’s your costly living expenses that is burdening your funds. If you want to slash some of it, here are a few tips.
Take a look around and think twice about your home.
How many bedrooms do you have and how much space do you really need especially if you’re living alone? Since housing takes up one of the largest spot when it comes to paying your bills, try and consider getting a smaller one--just enough for you to have a shelter while living comfortably at the same time. Studio type apartments is a perfect example for this. Aside from the cheaper price, houses like these are best fitted for those who live by themselves.
Quit some of those take outs and fast food
While eating out saves you a lot of time and is more convenient for you hectic schedule, it is not healthy and definitely not cheap. Studies show that Americans spend billions of dollars every year just for eating out. Try calculating all those expenses from dining out and you will be surprised of how they add up into what could have been an extra cash for you in just a span of one week. If you want to lessen what you pay for every month, you might want to start eating in; it may even provide you with a bonus by saving you from all those hospital bills in the future, as this practice is a lot healthier.
Say no to banking fees
Remember, banks are there to help you manage your money, not to heighten your stress with their expensive service fees. Since the field of banking is highly competitive, many of them charge a lot when it comes to doing business with them. Avoid this by withdrawing only from ATMs and having sufficient funds in your account to cover up your checks and purchases, as these transactions require minimal payment.
Cash over cards
Credit cards are one of the leading causes of debt, with its satisfying sound every time you swipe urges you to buy more. Always try to pay for your purchases in cash, especially since carrying around cards will drain your income not only with your own expenses but also with fees that having one requires. Aside from this, paying in cash will allow you to track your money more efficiently, helping you have an idea of when to stop spending.
A 2015 survey revealed that a third of US households are on the verge of a financial downfall despite an earning of $75,000. If you want to avoid getting stuck in situations such as this, downsizing your living expenses is one of the many steps to start from. You will be surprised at how much it can cut out from your bills, leaving you calmly dealing up with those bills in the future.
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