As we all feel the pinch of the modern world, we don’t always think that changing our lifestyle is the best solution. Every part of the world is feeling the pressures based on the war in Ukraine but also the rising cost of living was here even before the pandemic hit! We’ve all got to figure out how we can cut back on expenses in our daily lives without feeling like it’s really having an impact on them. So here are some simple ways that you can keep track of your expenses.
Cut Back on Paying for Entertainment
If you are paying for every streaming service under the sun, do you really need all of them? You don’t need to get rid of all of them, but if you have all the streaming services, cutting them down to one or two, believe it or not, is not going to make a big difference in your life because you will still have access to plenty of entertainment. You may have to decide what type of entertainment you really are into so you can cut back on some streaming services that don’t meet your needs 100%. Some people like true crime, in which case, Netflix is the best option out there. But if you are more into something like anime, there are anime streaming services out there, but you can also look at the best anime torrent sites so you have access to content for free. Another thing you can do is to utilize the free trial periods for each site. This could be really useful, especially as most streaming services don’t refresh their content every month. If you still need to get your share of Netflix, Disney Plus, or Apple TV, why don’t you have a revolving door of free subscriptions?
Track Your Spending Habits
One of the best ways for you to cut back on your expenses is to understand how much you really spend. Tracking your spending over 30 days or longer could be an eye-opener, especially if you have little expenses every single day, such as a takeaway coffee or breakfast. You might be surprised at what you spend on certain items, but this helps you recognize which adjustments truly need making in your life. Write down every expense you make or check your bank statement at the end of the month and see how much it all adds up. But once you’ve done this, you need to then categorize each type of spending under “needs” and “wants.” Once you start to see what is really essential in your life and what isn’t, you can make these adjustments.
Preparing Healthy Meals
This is one of the best ways to cut back on your expenses. While you may want to spend time with friends in restaurants, what you can do to save money is partly to do with making better meals at home for cheap and making sure you feel full before you head out for a meal. If you don’t have time to prepare meals during your working week you can make something on the weekends that becomes several meals. If you’re looking to make things more convenient for the long-term, you can make plenty of casseroles or chilies and portion them up. Freezing them means you’ve got quick meals for busy days. All you need to do is boil some rice or pasta and you are good to go!
Pay With Cash
Switching to cash is a rarity these days, but it will make you really think about your finances. Because if there’s something you really want, you need to look at your budget, but when you switch to cash-only spending, you can see how much money you really have to put towards the things that you want. Put many of your monthly expenses on automatic payments and use what is left for spending. There are plenty of great budgeting apps out there that can help you work towards this.
Paying Off Debts
So many of us put off paying our debts, but if you are concerned about your expenses, starting to pay off your debts now means you have a lot more available in the future. If you can’t live without socializing, try to get the balance right. For example, ensure you only go out with your friends twice a month, and then the other two or three weekends can be a movie night with friends or have people over food where you can cut back on alcohol and focus on actual quality time.
It’s not easy to cut back on expenses, but there are countless options for you.