Money Hacks: Effective Ways to Cut Back on Your Monthly Expenses


Do you remember living at home with your parents and you were so miserable that you couldn’t wait until you could move out on your own? Everyone went through that phase at some point in life simply because parents just didn’t understand and they just didn’t “get it.” But once you finally did move out on your own, you all of a sudden wished you could go back to living with your parents!


It’s funny how the tables turn, isn’t it?

The biggest perk of living at home with your parents was not having to face the reality of paying bills every month. Sure, living at home came with its restrictions, like having to be home by a certain time or not being alone in your room with company with the door closed, but if it were possible, you’d go back to those days in a heartbeat to not have to pay bills!

This whole process of doing things you don’t want to do but have to do is called “adulting.” Adulting, for most people, comes in many forms. For example, working a job you’re unhappy at is a form of adulting. You do this because it’s your source of income, regardless of if you’re happy there or not. In fact, more than half of the US work jobs they’re unhappy at, according to Forbes.

Money is a large motivation behind adulting, and part of the adulting process is not only working a job you’re unhappy at but also finding ways to stretch your paychecks. This, of course, translates to cutting back on your monthly expenses… It’s something you don’t want to do but you do it because you have to.

If you’re like more than half of the US, you’re living paycheck to paycheck, and that’s no way to live. So, if you want to change your financial situation, you have to make the necessary adjustments. This is going to come in the form of cutting back on your monthly expenses.

If you’re not sure where to begin with this, first write down everywhere your money goes. Based on that list, you can then see the specific areas that you can potentially cut back in. To get you started, here are some ways you can reduce your monthly expenses.

Buy Store Brand Products Instead of Big Brand

People tend to turn their noses up at store brand products because they feel that there is a gap in quality. True enough, there are certain products where you can definitely tell the difference in quality with store brands versus big brands but that’s why you have to read the labels.

Upon checking the labels, you’ll quickly see that the ingredients listed on store brand products are the exact same as big brands. When you’re trying to cut back on monthly expenses, store brands are just as good as big brands, and they’re more affordable than big brands. You may not want to do this but you have to.

Switch to Alternative Electricity

Aside from your monthly rent/mortgage payments, your electric bill is next in line as the most expensive bill. There are many factors that play a role in how high or how low your electric bill can be and it all stems from how much energy you use on a daily basis.

Laundry, using the dishwasher, using your computer, and leaving the lights on all have an impact on your electric bill. Now, one way to reduce that is to simply monitor how you use your energy at home. Turn the lights off in rooms not being occupied and washing your clothes in cold water instead of hot water can lower your bill drastically.

But the quickest and easiest way to lower your electric bill is to switch to alternative electricity; you just have to check to see if it’s available in your area. For example, if you live in Texas, you can find Texas energy suppliers for your area and reap the benefits of a low electric bill. Now, if you switch electric suppliers, and reduce your energy consumption as well, you’ll see tremendous savings every month!

Take Advantage of Fuel Points

If you’re someone who commutes to work, you understand that those days of heavy traffic can have quite the impact on your wallet. As you know, gas prices can drop and they can rise without warning, but unless you drive an electric car, gas is a necessity for cars to get you where you need to go. When the prices rise, it can cost you a pretty penny, especially if you drive what’s considered as a “gas guzzler.”

To aid in lowering gas prices, you want to shop at establishments that give you fuel points. Typically these are grocery store locations that allow you to get so many cents off the gallon when you fuel up… this is going to lower what you spend monthly in gas.

To further lower your monthly gas costs, you can also check with your job to see if there are any work from home opportunities available.

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Money Hacks: Effective Ways to Cut Back on Your Monthly Expenses
Do you remember living at home with your parents and you were so miserable that you couldn’t wait until you could move out on your own?
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