One of the joys of being an adult is trying to figure out where all of your money goes (lol). No matter how much you make, it may seem like you’re always running out of money before you run out of month. If you’re struggling to make your budget work for you, take a few minutes to try these budget tweaks. You could save a lot with a few minutes of work.
Cross Off Unneeded Monthly Fees
Monthly fees are a common budget crusher. Subscription boxes, music subscription services, private forums, and magazine subscriptions quietly drain your bank account month after month. Maybe you see the money come out of your account and make a mental note to cancel it at some point, only to forget until your account gets hit again the next month. Search the last 30 days of your account transactions to find sneaky recurring fees and cancel them immediately.
Switch Your Utility Payment Plan
Depending on where you live, your utilities may vary quite a bit between seasons. If you live in an area with harsh winters, your winter heating bill may be three or four times higher than it is in the summer. This can quickly kill your budget. Contact your utility companies and find out if you can switch to a budget plan. These plans, which are available in most states, take your average bill over the last 12 months and charge you the same amount every month. The amount is recalculated and updated every year.
Save Money on Major Bills
Have you been with your cell phone company for decades? Maybe you have had the same cable company since you started living on your own. Check out your monthly bills and look for areas where you can possibly negotiate discounts. Insurance companies, cell phone companies, and cable companies don’t want to lose your business. In exchange for your loyalty and your on-time payments, they may provide you with a discount. If needed, use a competing price from another company to argue your point.
Spend More Now to Save More Later
In a weird paradox, spending more money now can actually save you money later. If you take the kids to the local children’s museum every weekend and pay $10 every trip, for example, you’re spending over $500 per year. In comparison, a membership may cost $150 or less. To make this work for you, look at the places that you and your family frequent. Don’t buy a membership with only good intentions of using it; wait until you are certain that it is worth your money.
Put Everything on Autopay
If you have a solid budget and your spending habits are controlled, autopay is a huge timesaver. Take an hour to log onto all of your accounts and set yourself up for autopay. For some accounts, such as student loans, this qualifies you for a small interest discount every month.
Saving money doesn’t have to involve tons of time and effort. By implementing these tricks, you can give yourself some space in your budget every month.
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