4 Simple Ways to Save Money on Your Monthly Expenses

With the cost of day to day living ever increasing, it can be hard to finance every little thing. With that in mind, here are some simple tips and tricks for you to cut back on your monthly expenses and potentially saving yourself a fortune, keeping your money where you want it (the back pocket!)

The Phone Bill

Whilst we see our mobile phones as a necessity, the monthly bill can decrease dramatically, depending on what model of phone you have and the network provider you’re with. Although it may seem tempting to purchase the latest smartphone, there is a vast range of products available that have everything you need (unlimited data, unlimited calls, etc.) at a much lower cost. However, if you must get the latest phone, make sure to shop around before you purchase, as providers can offer various deals, which could help you out in the long run.

Gas & Electricity

You can cut down on your energy bills significantly by just having a look online to see whether you have the best deal. Simply changing providers can give you a little more cash each month. However, if you have the best deal and still want to lower your outgoings, turning down your thermostat could cut your heating bills by up to 10%. If you don’t already have one, installing a thermostat could save you up to $70 a year. If you are still struggling with the cheapest bill you can find, perhaps look at using a budget calculator to calculate what you may be spending unnecessary money on.

Supermarket Saving

Depending on where you do your grocery shop, the cost can vary significantly. Many believe that if a product costs more, the quality must be better, however, this is not the case. Supermarkets use phrases and language to hypnotize and entice shoppers into buying their products. Food is typically categorized into premium (words like ‘extra special’), branded (products such as Kellogg’s, Reese’s), own brand (the supermarkets’ own version) and value (with names like ‘basic’, indicating it is a low-cost item). The next time you visit a supermarket, try switching to some branded products for a cheaper alternative. You may not even notice much of a difference, but you’ll definitely notice the difference in cost. There are many other tips to help you spend less when food shopping.

The Work Commute

Lastly, if you have access to public transport, you could end up saving quite a lot of money as opposed to using your car. For example, if you were to factor in the cost of petrol, parking, and general maintenance, it may just be easier to take the bus or train to work. Also, if you live within a reasonable distance, you could save money by doing the commute on foot. That way, not only are you spending no money at all but you’re also getting a little bit of exercise.

Many little changes can make a big difference to your monthly budget, try a few next month and see how the cents add up in no time.

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