Making money is virtually everyone’s favorite pastime. However, sometimes saving money is so much more satisfying than simply making money. Just relax for a moment, and imagine what you could do with an extra $500 dollars every month. If you chose to save it, you could be on your way to a vacation in paradise. Or maybe, the extra $500 can be used towards getting out of debt. Sometimes, it can even be used to do fun activities with your family. Because lets face it, what’s life without a little fun? If you’re interested in saving a little cash each month, here are five ways to cut your spending, and increase your savings.
Avoid The Grocery Store
I know, this sounds completely insane, but it isn’t as crazy as you’d think! For one week every month, forgo your trip to the grocery store. Your family members probably think they’re going to starve, but with a little creativity, that just isn’t possible! Use this week to fully use any items you have leftover in your pantry or freezer. Make meals with the leftover pasta, those frozen fruits and veggies, and all of those soup mixes you swear you’d make (but never did). Find fun recipes online to put your old items to good use, it will be so much easier to get through the week if your meals are yummy! At the end of the week, your savings should be anywhere from $60-$100 depending on the size of your family.
Summer is here, and a pedicure may be hard to scrimp on. This can be an expensive luxury, especially if you’re getting multiple a month! Instead of spending upwards of $25 on your next pedicure, try doing it at home! Pick a fun polish, and have a girls day with your daughters or friends! Don’t worry if your painting skills aren’t quite up to par, you’ll be a pro in no time! Hair cuts are another source of monthly expenses, especially if you’re adding hair coloring into the mix! Instead of dropping $150 at the salon, consider making an appointment at a hair school instead. The students are professional, and always have supervision. You can get a cut and color for under $50. Seriously, and all for a cut exactly like the one from your salon!
Bring a little more money into your home by selling something you don’t use much anymore. This could be things like clothes, furniture, or old electronics. You know that old iPod that is sitting in the drawer, broken, because it was dropped in some water? Most times, many parts are salvageable, even if it does have water damage. You can sell old Macbooks (that are broken) for $475. What an easy way to make some money! Not only does selling these items help cushion your bank account, but because many of the parts are being used in other models, you’re recycling and cutting down on contributing these items to landfills.
If you notice that your utility bill seems to spike during certain months or seasons, it may be time to prorate your service. When you prorate your service, you are able to predict your monthly utility bills. This allows you to budget more effectively, and gives you a heads up when there is a spike in your bill. Depending on the time of year, you could save hundreds with this method.
Don’t worry, we aren’t telling you to completely ditch your cell phone. We are telling you to ditch the expensive phone plans! It sounds like a headache, but it could really be worth your while. Downgrade to a lower plan that could save you between $10-$20 every month. This is perfect if you find that you aren’t using all of your monthly data, why pay for an expensive plan if you don’t even use all that is allowed? There are tons of plans out there that cost $30 per month for a basic phone plan and data limit. Also, don’t upgrade your phone every two years. While this seems like a killer deal, there are tons of hidden fees!
Saving $500 a month has never been so easy with these tips. What are some other ways you save money every month?