10 Ways To Cut Monthly Expenses in 15 Minutes

With the ease of making monthly commitments through smart devices and affordable streaming and digital content channels, you can quickly over-extend yourself. However, monthly subscriptions are not the only way people are overspending every month. You can reference at least 11 areas for immediate savings when you need to cut costs.

1. Thermostat

What type of thermostat do you have? Many newer models are programmable, allowing you to set the temperature to different degree ranges throughout the day. One of the most costly utility expenses is heating and cooling, and so much is wasted when you are away from home. Invest in programmable options so you can adjust the settings when no one is home.

2. Lightbulbs

Electricity is another expense with several ways to save. Energy-efficient lightbulbs are not only better for the environment, but they are also better for your pocketbook. Not only do these bulbs last longer than traditional bulbs, but they also require less wattage for equivalent light.

3. Water Heater

Many people like hot showers, but the temperature you set your water heater costs you. For instance, did you know that by turning down the temperature from 140° to 120°, you can save about 22% on your utility bill annually? You most likely won't even notice the temperature change.

4. Monthly Apps

How many streaming services or monthly applications do you have? Don't worry if you can think of it off the top of your head; most people can't. The point is all the small $10 or $5 charges quickly add up. Take inventory of your monthly commitments and eliminate what you rarely use.

5. Cable

There are so many options for TV nowadays. Are you still invested in a monthly cable bill? Traditional cable services are so expensive. You are better off figuring out what channels you watch most and finding a streaming provider with affordable live TV or OnDemand packages.

6. Cellular Plan

Did you know the average American spends about $100 per month on their cellular plan? If you pay that much for cellular service, consider contacting your provider and checking into promotions or other offers. You can also shop around for a different cellular provider.

7. Coupons

While the extreme couponing craze might not be for you, coupons are a valuable tool for saving on a necessary expense: groceries. Take your time to plan out shopping trips by making a list. Go through each item and look for manufacturer or store-specific coupons.

8. Meal Planning

Going to the grocery store without a list is a mistake. Most people do not have the self-control to walk through a store full of food and only get the essentials. Having a shopping list in hand helps reduce impulsive buying and ensures you only buy what your family needs.

9. Comparison Shop

When you are in the market for specific items, whether big-ticket or not, take advantage of competing stores. You will often find there are price differences between competitors. The price changes can save you a lot of money, so don't be afraid to shop around, even for groceries.

10. Automatic Bill Payments

Paying bills late will result in late fees and hefty interest fees. Sometimes, missing payments is a result of forgetting the due date. Instead of relying on memory for on-time payments, use automatic payment options whenever available.

Saving money on your monthly expenses is not only possible, but it is also likely. You just need to take the time to review your obligations thoroughly. How do you save every month? Comment below.