Welcome to my home! This is a debt-free learning community. Leave any self-doubt and judgments outside to make room for growth.
Today we are going to visit areas in your budget where you can easily start saving money right now! Let’s get started.
- Your cellphone plan
Don’t freak out, I’m not going to tell you to go back to a dinosaur phone. Just…rethink it a little bit.
Are you aware that most large cell phone companies now own smaller companies that offer more affordable plans for smart phones?
Shhhhhhh…it’s the best kept budget secret.
You are still able to get data plans and phone services around $60 per phone (depending on how much data you use). All while getting to use the large network cell phone towers.
How much are you currently paying per phone on your plan? Check out places like Cricket, Boost Mobile, and Metro PCS.
2. Groceries
Here is an obvious question I’m sure you’ve been asked before. How much of your monthly groceries do you throw away due to it spoiling?
Is it because you bought too much or because you are rarely home? Try out this habit, start meal planning.
I know this sounds daunting but what if you only bought what you knew you were actually going to cook. If you know you are only going to cook 2 meals that entire month then eat out the rest of the time.
Only purchase groceries for those 2 meals. Also, stop shopping while you are hungry. You know you don’t really want those 5 bags of oreos!
3. Restaurants
Consider this the continuation of your grocery tip. In the end, it is cheaper to eat strictly at home but I know sometimes that just isn’t feasible.
We all have busy lives after all! Stop over-tipping at the restaurants, only tip the lowest percent when it is just you or the family. If you are there with a huge group then color outside of the lines a little bit.
Also, if you cut out alcohol and dessert from your bill eating out will be more affordable. You can always have your drink and dessert at home. Bring on the oreos!
4. Lunch Hour
Buying lunch at work every single day is definitely costing you. The average meal costs around $7 per day, that’s $35 per a 5 day week, which translates to $1,750 per year if you don’t count 10 days for holidays.
That is a lot of money, heck that could build you an emergency fund. Start taking your lunch a few days week.
Make use of the groceries you are throwing out or pack leftovers from the fridge.
5. Phone App Subscriptions
This one, I feel like, is starting to become the most expensive habit in our culture. How many devices do you own?
Do they all have the same applications downloaded? I know my iPad has some applications that my phone does not.
At one point I had 24 of them across my phone and iPad that were costing me on average $9.99 per month. My nice round number flying out the door per month was $239.76, holy cow!
Some of those applications charge me per year instead of per month. That is $119.88 upfront if it’s $9.99 per month.
In total, I was paying $2,877.12 per year. My rule of thumb is if you haven’t used it in the last 3 months cancel it.
On a scale of one to ten how nervous are you in doing your own math to see how much is walking out of the door on you?
If you were to switch to a cheaper cellphone plan, only buy ingredients from meal planning instead of groceries, tip less and eat dessert at home, take your lunch to work, and cancel some phone application subscriptions you could save an average of $10,000 per year.
That average depends on how much you are currently spending on these items. Imagine what you could do with that money instead.
Remember, you are not alone, we’re in this together!!
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