It might surprise you that it’s easy to find money in your budget. By making a few little tweaks to things you are already paying for, you can generate big savings. Most of us sign up for something and then never pay attention to it again, forgetting that our needs may change over time. If you are looking for ways to find money in your budget, take a look at these tips on budgeting money:
1. Cell phone– Cell phone and their accompanying bills always seem to have a catch to them. If you are not paying attention, you may pay more than you originally thought you were going to when you signed up. Have you looked at your bill lately? Cell phone carriers often change their plan structure so take a look at changing your plan or removing any unused lines to reduce your bill.
2. Land line– Do people still have home phones? Just kidding, I know some people do out of necessity. If you still have a land line, do you use it? Do you have features ‘bundled’ together? If you do, do you use them? It might be cheaper to remove some features like call waiting or caller i.d. and just go with a simple phone line. Even thought it’s nice to know who is calling you, it really won’t make that big of a difference in the long run. Consider having just the basic home phone line, of course that is, if you still need to keep a home phone line at all.
3. Cable – Do you have a huge cable bill? How much time do you spend watching t.v. each week? Consider removing premium channels or cancel your cable all together to save money. You can rent DVD’s from the library or if you want to have access to new releases, try Netflix. Redbox is another cheap alternative, as long as you remember to return the DVD’s on time!
4. Utilities– Does your electric or gas company offer an average monthly billing? My electric company calls it ‘budget billing’. Basically what it means is you pay an average of your utility bills all year long. So in the peak summer and winter months you are still paying the same as you did in more mild weather. This is a great way to help budget your bills monthly. Just remember, if you use more than the monthly budget amount, you will have a bill due at the end of the cycle. Most utility billing will show how far ahead or behind you are on the monthly bill so just make sure you pay attention.
5. Insurance– Have you shopped rates for home and auto insurance lately? Or have you discussed your coverage with your insurance agent? You may be able to make adjustments, such as increasing deductibles, to help save money each month. Just remember, never sacrifice coverage just to save a few bucks each month!
These are some simple tips to help you reduce your monthly bills. What is one step you can do today to help save yourself money? Think about that and make it your goal in the next week to take action on it. It may mean making a few phone calls or doing a little research, but I promise you it will be worth it! Once you start to see how you can save a little money here and a little money there, you will see it start to add up. Instead of spending the extra money, put it towards debt or increasing your savings account.
These simple tips on budgeting money can make a big impact on your budget. Remember, it’s the small steps we take each day that help us get out of debt the fastest.