How to Cut you Monthly Expenses by $100

cut expenses monthly

You have probably heard that putting away a certain amount of money each month for an emergency reserve as you build up to have enough to cover the cost of three to six months is a prudent way to keep you out of debts. But with many Americans still are unable to cover an unforeseen $1,000 bill, many ponder where they can raise enough money in their budgets to start a savings plan. Let’s face this, we often notice that we end up spending more money than we should. On other occasions, we are compelled to reduce our expenditure because of factors beyond our reach. 

Instead of cutting back and piling up credit card debt, here are some techniques to guide you to save up to $100 per month without straining your current lifestyle!

1. Keep aside $100 from your salary directly

One of the simplest and perhaps most straightforward ways that will save $100 is to arrange automated withdrawals from your salary. The withdrawal requires a few minutes to set up and lets you save money without giving it much thought. Because monthly withdrawals will take place on the day of payment, you will still see a rise in the balance of your account, even as a part of the withdrawal is sent off to some other safekeeping destination. 

2. Plan your meals 

Before you go shopping, compile a list of all the dishes you intend to prepare for the week. This way, when you go to the grocery shop, you can be confident to purchase only the food you are consuming and adhere to your pre-planned budget. When scheduling meals and budgeting, don’t forget to make a few evenings of eating out or ordering in every week. In this way, having a sudden dinner at your favourite place, or ordering some late-night Chinese food, would already be part of the budget and won’t feel like a guilty luxury.

3. Purchase food in bulk 

Purchasing bulk food in supermarkets can save you a great deal of money if you make intelligent choices. An excellent rule of thumb is to shop for less perishable items such as noodles, dried beans, rice, and household goods in large quantities, but to purchase less fresh food such as meat, vegetables, and fruit as required. And avoid pre-prepared things like frozen foods or pre-cut foods, as they mostly cost a lot more than their components. For instance, a pre-cut fruit packet in a grocery shop mostly ends up costing two to three times the cost of the fruit itself.

4. Save water

There are a bunch, of simple sensible modifications you can consider to lessen your utility bills, such as switching off the lights before you leave a room. But conserving water can be one of the simplest. Bring down your water bill by choosing to take shorter showers, adjusting your washing machine to its lowest water setting, and scanning for leakages (check your water meter before going to bed, and as you wake up, if the figures have shifted, you might have a pricey leakage somewhere).

And if you live in areas with less than tasty tap water, purchasing a good water purifier rather than purchasing bottled water will save you a considerable amount of money every year. According to one prediction, a family of four could save nearly $3,000 yearly just by switching from bottled to filtered tap water, plus, it is environmentally friendly.

5. Change your smartphone plan 

It is convenient to believe that the only cell phone plans available to you are the ones that big carriers provide. But you can end up saving a considerable amount of money by going off the beaten telecommunications route and selecting facilities from a mobile virtual network provider. These service providers mostly charge cheaper prices for the same or equivalent cell phone service, and in most situations, you can even keep your existing number.

Switching cell phone suppliers are among the most impactful methods to save $100 per month consistently. If you have more than one smartphone line in your home, we recommend switching to a company like Republic Wireless that provides you with unlimited calls and text just for $15 per month. 

6. Cut out the cable bill 

This concept is not fresh, but it’s such a convenient way to save additional money each month that it is worth repeating. Ordinary cable providers charge roughly $85 each month for the facility, and satellite consumers pay around $100 each month. That implies that many American people with satellite or cable are paying over $1,000 per year on television. Even if you enjoy watching TV, there are other lower-priced alternatives. Live video streaming platforms such as YouTube TV, Sling TV, and PlayStation Vue cost relatively lesser money—for instance, YouTube TV starts at $40 a month—and mostly provides many of the same channels.

7. Find subscriptions you are not using 

Spotify, gym memberships, Netflix, Birch box, Blue Apron etc. – we all have our must-have online subscriptions, but of the many I-can’t-live-without subscriptions, there are subscriptions that you can always survive conveniently without. As per the latest research by Waterstone, Americans end up wasting an estimate of $237 every month on subscription services. The most frightening aspect is that when asked how much users believed they spent on subscriptions, they assumed that they only paid $111 per month. 

8. Look for free alternatives for your favorite activities 

Join a jogging club instead of paying out $50-$100 a month to get on a treadmill at the gym. Catch a movie for free at home or search the event schedules in your region for free screenings, instead of wasting money on cinema tickets. There is one with an awesome happy hour offer for any bar or club with a $10 cover charge. To keep records of forthcoming free concerts and festivals as well as affordable sales and promotions, read the listings in local newspapers or regional blogs.

9. Do your own chores 

Another way you could save your money is by doing your house chores. If you are sending out your clothes for laundry, or hiring someone for cleaning your house every month or week, or going to a manicurist every week, then you are spending a good amount of money that could have been saved if you did all of these things on your own.

10. Plan a monthly ‘free weekend’ 

Consumer researches revealed that almost all Americans spend most of their money on Weekends. That is probably because Saturdays are a leisure time: cinema, dinners and drink dates with friends/relatives always add up. Assign one weekend every month (or maybe even one Saturday) to keep your wallets shut. Get your dear ones on board with this strategy, and discover some fun free activities in your neighbourhood. 

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