I recently started a new money-saving challenge this month, which consists of me spending money only on necessities, including rent, gas, insurance and other basic bills each month.
Cutting on monthly expenses is actually a lot easier than you think, especially when you lay everything out on the table. Everything being what you are spending your money on.
Are you looking to set up a monthly budget? Get access to my free monthly budget printable and other valuable resources here.
1. Sign up for the $5 Meal Plan.
$5 Meal Plan gives you a weekly shopping list and meal plan catering to your needs and budget. Most meals only cost $2 per person, saving you money and time each month. Find out all the details below.
2. Download Ibotta for free
Ibotta is a free app that gives you cash back for making purchases on things like groceries, clothes, toiletries, and much more!
I use the app on a regular basis. Before I visit a grocery store or make any kind of purchase in-person, I check the Ibotta app to see what kind of cash back I can get. Currently, there are deals like getting up to $2 off toothpaste, up to 20% cash back from Groupon, $1.50 off pasta, and so much more.
It's silly not to use Ibotta if you're a regular grocery shopper and also have to buy things like clothes, toiletries, and pretty much anything else you'd find at a store like Walmart or Amazon.
If you sign up now, you can get $10 in your account by using my link here.
3. Negotiate bills
Trim helps you negotiate cable and internet bills, analyzes and gives you spending updates via text, and will find and cancel unwanted subscriptions for you.
Trim users saved over $1,000,000 last month alone.
4. Install a programmable thermostat
This is crucial if you are living in an area such as I am at the moment, where it's blazing hot in the summer.
I often try to remember to put the thermostat on a normal level, but I usually forget. (I love my apartment nice and cold). Adding a programmable thermostat is such a game changer.
5. Sign up for Ebates.
Ebates gives cash back on online shopping at your favorite stores. Save on clothing, travel-related expenses, and pretty much anything online!
6. Manage your money
Are you overwhelmed by finances?
Are you sick of managing 6 six money apps?
Cinch takes care of everything all in one place. Cinch monitors your credit score, if you have missed payments or unauthorized use, to how much insurance you need, and a lot more.
7. Get rid of expensive beauty items and DIY at home.
I use tea tree oil for my face, which helps my scarring and redness.
It only costs $5 and also has a ton of other benefits. I also know of people who use coconut oil for everything from their face to shaving their legs. This is the coconut oil I personally use on my skin, food, shaving my legs and more.
8. Refund unnecessary fees
Cushion is an app that refunds bank and credit card fees.
“Cushion got $187 worth of fees (that I was not aware of) waived from my credit card within a few hours of signing up. They turned me into a believer real quick!” – Isaac, Cushion User
You can expect refunds on things like late fees, overdraft fees, monthly service fees, account maintenance fees, ATM fees, credit card interest charges, late fees, and more!
9. Start spending with cash only.
It might be an inconvenience, but that's the point. You will save a lot more money this way. When you physically see the cash going away into someone else's hands, it makes you think more.
Seeing $100 go away in cash is a heck of a lot different than seeing $100 on your credit card go away.
Related: 50 Ways To Save $500+ Each Month
10. Use Groupon when you do need to pay for things.
Groupon is great for saving money on restaurants, haircuts, trips, and more. I use Groupon to buy things such as haircuts and paddleboard rentals.
Saving money and cutting down on monthly expenses do not have to be a chore.
It can be fun, exciting, and also make you feel great at the end of the day because you know that you are making a change that is going to benefit you in the long run.
Ditch the spending on useless items that you don't even need, and save money for an emergency fund or other savings (like paying off your car or student loans.
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Related articles to read:
- 16 Real Work From Home Jobs That Pay Up To $75,000 A Year
- 7 Books To Become A Better and Happier You
- Healthiest Foods For A Tight Budget
What are some ways you cut monthly expenses?
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