If you’re looking for ways to save on your monthly expenses, check out this list of the first ten things you should cut from your budget!
Have you been overspending? Are you trying to save for a big purchase, or trying to pay down those debts quicker? Here is a list of the first ten things I think you should cut from your budget to reduce your monthly expenses.
Okay, we’re going to start with the obvious. Don’t go out to eat anymore. I’ts expensive. You don’t need to pay $17.99 for a meal, another $12 for drinks, and a 20% tip. You can save tons by cooking at home. And actually, there are some other benefits to cooking at home – you feel healthier, you feel like you are saving money, it can become a fun hobby.
2. Cleaning products
I use to have a budget line item for cleaning products – you know, Mr. Clean erasers (those things are magical!), all the Lysol wipes you can imagine, swiffer stuff, the huge tub of Formula 409. Honestly, that stuff is expensive and adds up. You don’t need to buy it anymore. First of all, you probably have enough cleaning stuff to last you 1-2 years. Also, you can make cleaning products SO. CHEAP. with some $0.99 vinegar, tap water, and maybe a drop or two of Dawn. Eliminate this from your budget (and don’t try to sneak it into your grocery budget either).
Another obvious one. Just do it. Don’t think about it. It’ll save you so much money. Where I live, it’s not uncommon to pay $130/month for cable. That’s over $1500/year! You can watch the main shows online for free (albeit 1 week after they air), but who cares. And if you are a big sports fan, find a friend with a TV.
4. Car washes
This is a strange one, but near me, people get car washes all the time. They’ll even buy a $60 pass each month that gives them unlimited car washes. Totally unnecessary. You can do it yourself with some water and soap.
5. Hair and nail care
Sorry ladies (and maybe some men…). This stuff is expensive!! No more $60 hair cuts (go to Supercuts for your $12.99 one), no more $100 hair colorings, and say goodbye to pampering yourself with a mani/pedi.
6. New clothes
Let’s be honest. You have a ton of clothing. And you don’t wear 80% of it. Clean out your closet. Pick out some outfits that you love and wear them. Don’t buy anything new. The clothes in your closet should last you a few years.
7. Paper towels (and other paper products)
This won’t save you a ton of money, but hey, every penny counts. There is no need to buy those huge packs of paper towels each month. You have tons of dish towels, rags, fiber clothes that will do the same exact thing.
8. 20% of your grocery bill
Calculate the average amount you’ve spend on groceries for the last few months. Reduce that by 20% (so, if you average per month is $500, your new grocery bill goal is $500*0.8=$400). This will really force you to meal plan, try store brand ingredients, and get you proactive about saving money. This was the first change I made in my budget, and while it was a small change, it made me feel like I was in control of my finances and spending – that was very important.
Related content that will help you save money on food:
- How to Save Money on Groceries: 50 Budget-Friendly Tips
- A Beginner’s Guide to Meal Planning on a Budget (+ Free Printables)
- The 5 Best Budget-Friendly Food Blogs
9. Cancel subscriptions
Whether it’s to a magazine, newspaper, subscription box, it’s not a necessity. Getting rid of the subscription will also get rid of some clutter in your house – so it’s a win-win right?
10. Reduce or eliminate gifts
I don’t want to sound like the Grinch, but cutting the amount you spend on gifts is an easy way to save money each month (and doesn’t it seem like each month you have to buy a gift?). Thoughtful gifts are usually the ones most adored and least expensive.
Revamp your budget today!
If you are ready to revamp your budget and start saving money, download our Monthly Budget template below! You’ll actually get 3 worksheets over the next 3 days (the first day is the Monthly Budget template).
What was the first thing that you cut from your budget? What do you refuse to cut?