Hack Your Way to Lower Monthly Bills with These 4 Tips

It’s a problem if your bills are more than your income every month, or even if you’re just barely getting by. It’s important to save money so that you can build up an emergency fund and put money towards retirement. When you’re not doing that, you need to either start making more money, which is often difficult (especially in the short term), or lower your monthly expenses, which tends to be much easier. All it takes is an honest look at those expenses and finding areas where you can cut back. Here are four tips to immediately spend less every month.

Get Rid of Your TV and Home Phone Service

Cable companies entice you with their TV, home phone, and internet bundle packages, but don’t be fooled. If you’re already paying for cell phone service, a home phone is likely unnecessary, and there are plenty of great TV options available that are cheaper than cable. You’re not saving by purchasing a bundle package; you’re purchasing two services you don’t need every month.

Try getting rid of your home phone and choosing a cheaper alternative to TV, such as Netflix, Hulu, Sling TV, or one of the many other providers. There are many ways to see most or all the shows you want without paying that expensive monthly TV bill. You may even find that you lead a more productive, exciting life by cutting the cord and getting rid of your TV.

Start Meal Prepping

Buying lunch or dinner on a regular basis quickly adds up, even if you’re only getting fast food. Many people eat out because they don’t have time in their busy schedules to prepare something to eat every day. That’s where meal prepping comes in.

You simply come up with some meal ideas that you can warm up in the microwave, prepare a large amount of the meals on one or two days every week, and then package individual servings in plastic containers. You’ll then have breakfasts, lunches, and dinners that you can grab before heading out to work.

Meal prepping may be good for your wallet, but it’s also good for your body. It’s a simple way to start eating healthier, which is one reason so many health-and-fitness fanatics swear by it.

Spend Less on Your Transportation

Even though a car is often the fastest way to commute and get around town, it’s typically far from the most affordable transportation option. Between gas, insurance, and any repairs your car needs, you can spend quite a bit on your car every month.

See if you can work any other methods of transportation into your usual routine, such as walking, biking, taking the subway, or taking the bus. Just swapping out a couple car trips per week with another method of transportation can save you money.

Make sure you’re also not paying too much for car insurance. You can always adjust your coverage to lower your premium or shop around for cheap auto insurance to see what other carriers have to offer.

Consider a Smaller Home or One in a Cheaper Area

Moving certainly isn’t a decision you would want to take lightly, but you also shouldn’t be struggling to make your rent or home payment every month. Housing is the biggest expense for most people, and it’s important to consider whether you could be saving money in that area.

To lower your housing costs, you can either downsize to a smaller home, move to a cheaper area, or both. Although it’s easy to get used to life in a home of a certain size, consider if you could get by with something smaller. If you’re a single person, you could switch from a two-bedroom apartment to a one-bedroom or studio, or get a roommate.

It’s also tough to leave a neighborhood behind, but if you need to cut your expenses, it’s silly to live in an expensive area. There are likely places that are just as safe and don’t cost a premium.

These are just a few of the simplest ways that the average person can cut their spending every month. If you haven’t already, put together a budget and look over where your money is going every month. Use this budget to figure out what your essentials are and which areas you can reduce your spending without a huge impact on your quality of life.

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