10 Ways to cut your monthly expenses in half – army wife with daughters electricity merit badge pamphlet pdf


Spending too much each month? There are lots of small things you can do to cut down your spending, but these small things alone won’t make a big difference. Here are 10 things you can do to seriously cut down on the amount you’re spending giving you more disposable income to spend on the things you want.

This post contains affiliate links. If you purchase something through these links I may be compensated at no charge to you. Relocate to a cheaper property By far the most drastic but most effective way to cut down your monthly expenses is to move to a cheaper property with reduced rental/mortgage costs. Downsizing is one way to do this. A property with less rooms is cheaper to buy/rent. If you have a growing family this may not be possible, but if the kids have moved out or you’ve recently split up with a partner you may not need all that extra space. Another option could be to buy a property in a cheaper location. Prices are often more expensive in urban and popular areas and by relocating outside of the hub you could save some money. Of course, this could increase travel costs to and from work/school, so weigh these costs up. The type of property can also make a difference. Public housing such as HDB flats and council housing is often cheaper than privately built housing. New properties are also cheaper than old properties when it comes to running costs– they’re generally more energy-efficient meaning lower energy bills, plus they don’t suffer from wear and tear which can result in costly repairs.

Drive less, walk more If you’re guilty of driving everywhere, cutting down on your car use and walking more often could help to save you big costs on fuel. Not only this, it could prevent other parts of your car from wearing as quickly, prolonging repair costs. You won’t be able to cut out long trips, so focus largely on local routes. If walking is too slow, you can always try cycling (in some areas where traffic is often congested, cycling could be faster than driving). It’s not just cheaper, but healthier for you and the environment.

Shop around for everything Whether it’s insurance, your energy supplier, birthday gifts or tonight’s meal, always take the time to shop around. When it comes to bills, use online comparison sites to find the cheapest provider. You should shop around every year to check that you’re always getting the best deal – take advantage of new customer rates as these can often save you a lot more money than loyalty rates. As for one-off purchases, shop around for these too online. Even when you go shopping for food, make sure you’re checking all the shelves to find the cheapest option (these are often hidden away on the bottom shelf). There’s no shame in buying off brands, especially when it comes to basics like bread, rice and pasta in which the difference in quality is likely to be minimal.

Go green Whether or not you care about saving the planet, there’s no denying that going green can save you money. Often green improvements involve some kind of investment, which can put people off. For example, getting insulation fitted can drastically lower your heating bills in winter, but it does mean having the money to pay for the insulation to be fitted. Similarly, going off grid and switching to solar power could result in you never paying an electric bill ever again, however you need to be able to afford the cost of solar panel installation. There are smaller green investments that can save you money. Updating appliances that are over 15 years old with newer energy-efficient ones could save you a lot of money on your energy bills – new washing machines use up less water, whilst new refrigerators use up less electricity. You could even save money simply by switching all your traditional bulbs for LED bulbs. The easiest way I’ve found to go green and save some money is to hang my laundry to dry whenever possible.

Eat and drink in more If you often have meals out or like to go out for coffee or have a few drinks at a bar with friends, you could save huge costs by eating and drinking in more often. Plan meals out for the week, invite your friends over for drinks and buy a coffee maker for the mornings instead of buying a cup of coffee on your way to work. You can still treat yourself now and again to a meal out or a catch up at your local coffee shop – just make sure that this is a treat and not something you do regularly. Meal planning worksheets like these can help tremendously.

Use your leftovers Making use of leftovers can also save you money. Some leftover meat or vegetables could be used again in a sandwich, a curry, a pasta bake, a stew or an omelet – whatever creative meal you can come up with. There are lots of recipe sites that can give your inspiration on how to use your leftovers. Planning your meals ahead can help you to use up these leftovers. Also make sure you’re using up what you’ve already got in your cupboards and freezer before stocking up on new foods – you don’t want these foods to go forgotten.

Buy home supplies in bulk You can save money on many home supplies by buying them in bulk. This could be anything from toilet paper to pasta to stamps. Your local wholesaler store is likely to have more of these bulk options that your average supermarket. You can also buy items online in bulk, but be aware of delivery costs. Make sure you check to see if you’re really saving money by buying in bulk. Not all bulk deals are worth it. You might also like: Save Money On Home Essentials Cancel subscriptions to things you no longer use Many of us spend money on subscriptions that we don’t get use out of. This could be a gym membership, a magazine subscription or a music streaming subscription. There may even be costs that are auto-renewed annually such as travel insurance or a warranty on an old phone. Check for these costs on you bank statements and get them cancelled before the next payment comes out. It may only be a small payment each time, but in the long run these payments add up.

Try couponing Coupons can get you huge discounts on all manner of services. Whether you’re looking to save money on a holiday, baby diapers or a child’s toy as a birthday gift, coupons could help you to save costs. You can find these coupons on specialist coupon sites on in magazines. When signing up to sites and magazines, be careful of membership fees – unless you’re going to get your money’s worth out of these coupon sources, you could just be spending more each month. Coupons often have expiry dates, so also make sure that you’re making use of these promotions before they run out. Check out my favorite money-saving apps and sites here.

Put your DIY skills to the test If you’ve got the confidence or patience to go DIY, you can often save huge costs in many cases. This could be anything from replacing your brake pads on your car to growing your own vegetables to making your own household cleaning liquids. It’s important to know your limits – especially when it comes to household and car-related DIY in which a botch job could be costly and potentially dangerous. Electrics and gas plumbing are two examples of household DIY where it can often be better to call in the professionals (in some states, it could be a legal requirement). As for jobs like painting, stripping carpets, replacing countertops and installing tiles – these are all jobs with minimal risk that could save you lot of money by doing yourself.