These small savings tips make a huge difference over time
Is your budget being blown by a bunch of smaller expenses? Costs that are so insignificant that you’ve forgotten you’re still paying for them?
These costs add up. In fact, many Americans spend over $200 per month on subscriptions or items we don’t need. That comes out to $2,400 per year!
Get those thousands of dollars each back into your wallet by cutting out the costs that don’t make a difference in your life. Here are a few subscriptions and other expenses you can cut from your budget.
Hot Tip: Make sure you are keeping track of your purchases and ongoing costs, they add up!
1. Cut The Cord
Techjury reports that 65% of Americans are still paying for cable TV despite the rise of streaming services. Cancel your cable subscription and use streaming services like Peacock, Netflix, and Disney Plus to watch the shows you love.
There are also other alternatives that stream the same cable channels online for cheaper like Youtube TV and Sling TV. You can save over $100 per month by cutting cable and finding less expensive alternatives.
2. Streaming Services
While we advise cutting the cable cord, be careful with the number of streaming services you subscribe to. Make sure you actually cancel your subscription if you sign up for a free trial because it’s easy to forget about those.
Hiatus App is an app that helps to maintain your subscriptions, get better prices when applicable, and easily cancels unnecessary ones for you. Consider how many subscriptions you use and which ones you don’t need!
Check out Hiatus app here and start to save hundreds per year!
3. Food Delivery
We all know the feeling: It’s a lazy Saturday afternoon, and you’re hungry and craving your favorite food but don’t want to go pick it up. All you have to do is place an order on an app and someone will pick it up and deliver it to your doorstep.
Americans spend $37.28 weekly on just the delivery fees from our favorite apps like Uber Eats, Doordash, and Postmates. Although it may not seem like much, that adds up to $1,789.44 per year!
Sometimes you’re really in a pinch or don’t have time to cook or pick it up yourself. When you can order for pickup instead of delivery – you’ll be surprised how much you can save!
4. Gym Membership
Do you have a gym membership but haven’t been in months? Canceling an underutilized gym membership can save you hundreds of dollars each year!
Of course, if you use your membership as much as you had hoped, we don’t advise following this tip. But if you find yourself struggling to justify the cost of a monthly membership, you can find other ways to exercise on a budget: take up jogging, follow free YouTube workouts, or buy at-home weights.
You can often find cheap gym equipment on Facebook Marketplace, eBay, or any other preowned sites – the same ones you would pay monthly to use!
5. Brand-Name Products
When you shop for groceries, do you opt for brand names like Heinz, Kellogg’s, and Jif? Did you know that most generic grocery brands also are manufactured by the same manufacturer?
When you buy brand-name products, you are paying a premium for the brand name, even if the products themselves are very similar if not the same!
Next time you are shopping for groceries, opt for the generic brand, you likely won’t be able to tell the difference!
Bottom Line
There are so many ways to use your hard-earned money – don’t let it go down the drain! Check out our other articles on tips and tricks to build your wealth, one dollar at a time!
