Tightening your spending means knowing which budget cuts to make. We’re all aware that shopping can be pushed to the back burner, but there are a few other little adjustments you can make to your budget that will save you a little extra money! If you’re unsure of where to start, then keep reading. I’ve got some magnificent tips for which budget cuts to make this month!
1. Reduce Your Water Heater Settings
One of the budget cuts to make this month involves changing your hot water heater settings. Most people have theirs set to 150 degrees, but that just overheats the water and costs you more money! Try dropping the temp to 120 degrees. It won’t make your showers any less warmer, but it will save you a little cash each bill!
2. Raise Your Car Insurance Deductible
We all want a low deductible, because that means it’s less money that we have to spend in the event of an emergency. But a lower deductible means more that you shell out in insurance each month, so in the long run, you pay for your own damages whether you have a car accident or not. If you have an emergency fund, then if something happened you could use that money to cover a higher deductible and stop paying out so much for insurance each month.
3. Turn the AC off
During these early summer months, it can be tempting to blast the AC in your home and car. Try to follow the rule of only turning it on when you can’t bear the heat. Crack windows, or run fans to circulate air. When you leave your house, turn off the AC so you’re not paying for wasted air conditioning.
4. Install a Low Flow Shower Head
Water pressure is nice when you are taking a shower. Fortunately, a low flow shower head reduces the amount of water that is being used without detracting from your water pressure! Over a month’s time, this little tweak will shave quite a bit off your water bill, especially if you shower daily!
5. Live Frugally
Living frugally is a big budget cut you can make without actually needing to give up something. Living frugally means taking advantage of what you have without buying more. Use everything until there is no use left. Eat leftovers. Wait to wash your clothes until you have a full load. Use up all the product out of bottles and jars before throwing them away. Little changes like this can save you pocket money each month!
6. Look at Your Bills
Many of us actually live excessively beyond our basic needs. And that’s okay! With modern technology, we all have cell phones, laptops, and TVs. We shop and eat out as we wish. But take a look at your monthly bills. Are you paying for something you don’t use often, like cable or a home phone? If you’re at work more than you are at home, consider dropping your home Internet. If you don’t use your smartphone often, downgrade to something a little less expensive. These are changes you can make to your monthly bills to save a little extra money.
7. Go on a Diet
Sounds crazy, but trust me! Dieting will bring your grocery bill down considerably, since you buy mostly fresh foods. Saving money AND losing weight-I’ll go for that!
These tips may not seem like they would make much of a difference, but give them a shot. You may find that your bills have been reduced so much that you saved $100+ this month! Saving money is no small matter for your average person, so put these tips into practice. What are your tips for simple budget tweaks to make this month?