Strategies to Save Your Monthly Budget

Strategies to Save Your Monthly Budget

Our simple how-to guide will help you reclaim hundreds from your monthly expenses with a few simple tricks and tips to help set you up for financial success

Have you ever looked back on your expenses for the month and thought to yourself, “Oh boy…did I do that?” Your financial landscape is a desolate wasteland, bills scatter the table and that spreadsheet you put together 4 months ago when you swore to do a better job with everything is 3 months behind.

While it may not be as extreme for some people, we’ve all been in that situation before. We look back on our expenses, swear to never do it again but then end up having the same discussion the next month. This simple how-to guide will show you how to reclaim hundreds from your monthly expenses with a few simple tricks and tips that don’t just put a band-aid over the problem, but help set you up for success down the road.

Update Your Insurance

Most people are pretty complacent with their insurance bills, and think that a policy is good for years. The reality is that most policies end up outdated faster than you think, and just like spoiled food the longer you keep that policy sitting there the worse it gets. If you haven’t compared your current policy to other options and providers in the past few months, you may be missing out on new pricing and savings for your car.

One of the reasons people avoid price checking their bill is that they think it is too difficult or hard to lower your insurance. In the past, comparing insurance prices meant driving around town, talking to agents to see who was the best. Thankfully, the internet has solved that problem. Check out sites like InsureMyCar4Less, who have massive networks of insurance agents they can pull pricing from. They cast a wide net and show you only the best results. If you haven’t received an online price quote before, you would be surprised with how effective they are finding the best rates for your car. Follow this link to learn more.

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Negotiate Your Cable Bill

We don’t have a lot of choices out there in the cable or satellite world, and these providers have bundled in everything from phone, television and internet in a way that makes it hard to avoid the service altogether. What you can do is find a decent sum of cash by calling in and complaining about your service, even if there are no glaring problems at the moment.

Every service provider has a customer retention department designed to field angry customers. All you have to do is call and tell them you are upset and thinking of switching providers because of the cost of their service. They will be quick to cut your bill or give you free services to keep you on board. You can’t pull this card every month, but every 3 - 6 months seems to be the sweet spot for this strategy.

Re-Evaluate Your Credit Standing

Studies show that one of the main reasons we end up overspending is due to that little piece of plastic in our wallets. Now the best solution is to cut that card up, but the reality is that you can’t function very well in our tech-based society without some form of plastic currency. While getting rid of it may be difficult, ensuring your card is working for you instead of against you is much easier.

Surf the web and find out what standard interest rates are to see where your card fits in. If you have multiple cards, think about getting down to just one or two. If benefits and rewards are important to you that is fine but just make sure they aren’t there to hide any high interest rates. Finally, put a small cap on your monthly spend in order to protect yourself from your worst credit nightmare: you. One of the most important mindsets to approach a credit card is to plan on paying the bill in full every month. With the exception of emergency purchases (and no, that widescreen TV for the game was not an emergency) always situate yourself to pay your bill in full every month.

Cut Back On Climate Control

Whether it is summer or winter, we always end up cranking the dial left or right to keep our houses comfortable. There are a few simple tricks that let you cut back on those bills. First, in the summer open the windows at night and close them in the morning to keep the house cooler for longer. In the winter, get accustomed to wearing sweaters and slippers around the house rather than running at full heat. If your house isn’t running on an electric thermostat, that is another cost effective upgrade to your home. These will allow you to set times for the system to kick into gear, you can keep the temperature up when you are home, but turn it off while you are gone. Either way you swing it, there is money to be saved simply by turning that dial.

Now these strategies won’t make you a millionaire overnight, but they will help you find those areas of your budget that may be taking more of your money than needed. These small savings add up, and before you know it you may be able to gain a little more financial security and breathe a little easier.