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There are tons of ways to better your financial situation: budgeting, emergency funds, paying down debt. And these are all extremely important and useful practices. But what if you need help now? Maybe you’ve taken a look at your last paycheck or your current bank balance and have a feeling of dread. What can you do to make next month’s bills less imposing and more payable?
Over the years, my family has dealt with bouts of unemployment. We would either go down to one income or, in one case, down to none. It was scary and overwhelming when it came as a surprise, but even when we chose to become a one income family, it still required a lot of courage. And, it required change.
During the toughest times, I went into survival mode. What do we need, what don’t we need. If we hadn’t had kids, I probably would have turned off the heat in winter and lived on Ramen just to conserve our funds. My husband actually has dined on Ramen many nights to conserve the more nutritious foods for me and the kids.
Now, I’m not going to suggest anything crazy like living on noodles, but think about the luxuries and conveniences you have and consider whether you would really miss them if they were gone. I realize that one person’s luxury is another’s necessity. So not everything on this list will work for you and there may be more that I haven’t thought of because of my needs. But I hope that these ideas help you bring down your monthly bills so that you can put that money to better use to serve your family.
1. Cut the cable. I used to love watching TV. Even if I was doing something else, I enjoyed it running in the background, entertaining me at odd moments in between household tasks. But I didn’t need it. There are dozens of other things to fill that space: free websites for the latest shows if you can’t bear to give up your weekly favorites, podcasts and audiobooks that can engage your mind, music. Try it for a day and see if you really miss it. I bet you’ll find something better to do with the time.
2. Lose your landline. With nearly everyone having a cell phone these days, the need for a landline is almost nonexistent. Though they aren’t that expensive (our company only charges $10 a month), that’s money that you can use on something else. And if you’re like me and your number is from out-of-state, don’t worry. In the decade I’ve lived in Nevada, no one has ever said that they couldn’t call me because my number had a New York area code. Even my kids’ school calls it.
3. Discontinue subscription services. Netflix only costs $8 a month. It seemed a pittance, but then I thought about it being $96 a year. Is there something I’d rather spend $100 on? With that answer being a big ol’ yes, I cancelled our subscription. Take a look at the things that might be auto-paying out of your account: Hulu, Xbox Live, the kids indoor play place, etc. Suddenly, those small withdrawals are adding up to some big money.
Do you subscribe to magazines? I love reading them, but had to pare mine down to my two favorites, Time and Parents, because I was paying quite a bit for all the subscriptions for both myself and my kids. If they’re not getting read or the price is going up, don’t renew. The local library offers tons of popular magazines that you can read while the kids check out books. (Some you can even get on Overdrive and read on your e-reader or phone!)
4. Change your thermostat. If you can lower your thermostat by even two degrees, using just a little less heat in the winter and a little less air conditioning in the summer, you’ll notice a difference in your bill. If you’re able to program yours so that the energy is being used at the most opportune times of the day, this will also help.
We leave our heat off downstairs for most of the winter since it doesn’t get incredibly cold here. And we avoid using the air conditioner until it’s absolutely necessary because we know that once summer hits in the desert, the a/c will be running non-stop until fall.
5. Buy food in bulk. A membership at Costco or Sam’s Club does cost a little out of pocket, but you can really save in the long run. We get things like toilet paper, paper towels, meat, spices, oatmeal, and bread this way. And while we pay more during that shopping trip, we save overall. These are things that are either non-perishable or can be frozen so don’t be worried if you think you won’t use them right away.
I also like having extra of these items on hand because it saves money, gas, and time on subsequent grocery runs. Catalog what you use most in your family and consider buying in bulk. (Bulk items can also be found in Walmart and your grocery store, if you want to skip the warehouse club membership fees!)
These are just some of the many things that you can do to lower your bills and try to keep your expenses in check. This may be a temporary stop gap during tough financial times. Or you may be looking to make permanent changes that will help with your long-term goals. Either way, evaluate what works best for your family and I hope these suggestions bring you some relief.
What are some of your best bill-slashing tips and tricks? Let me know in the comments!
[Disclaimer: I am a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for me to earn fees by linking to Amazon.com and affiliated sites. This post contains affiliate links, which means that if you click on one of the product links, I’ll receive a commission, at no additional cost to you. All opinions are my own and I never recommend anything I haven’t used myself and loved.]
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