3 large expenses to cut from your budget: New video
I understand that not everyone will be able to cut these expenses, but I do encourage you to at least consider them.
Whether you rent or own your home, it is probably going to be your most expensive bill every single month. If you can cut that bill (well, scale it back), you can save a ton of money.
Move into a smaller home and save your cash to purchase a larger home (if that’s actually what you need). You may actually find that when you’re living in a smaller home, you really don’t need that extra square footage after all.
Save your money instead and use it for something more important.
Consider becoming a “single-vehicle home” or even getting rid of your vehicle(s) altogether.
I know this will be challenging for many people and it might not work for you. However, you need to think about the pros and cons of owning a vehicle and decide whether or not it’s worth it for you to continue carrying those costs (car payments, insurance, repairs).
It’s not cheap to own a vehicle, so if you’re looking to save more and spend less, it may be worth it to get rid of your car or cut back to only 1.
This may not be a large expense for you, but for some families, eating at restaurants is a pretty hefty “bill” that they pay every month.
Eating at home is going to save you a ton of money. Avoid going to restaurants, because you are going to be paying a huge mark-up. You can easily make the same foods at home to not only save money but eat healthier as well.
Those are 3 large expenses that you can cut from your budget. I know these won’t be easy for everyone and I know that some people won’t actually be able to cut any of these expenses.
However, you need to consider cutting at least 1 of them, because every penny saved really does count – and you could be saving some serious pennies by cutting the above expenses.