Trim Your Expenses

If your monthly bills are overwhelming, it’s time to reevaluate what you’re paying for. More than likely, you can trim your expenses and put some money back in your wallet.

Here’s the tip of the day:

When is the last time you’ve taken an objective look at your bills? Do you really need everything that you’re paying for? We all need the basic necessities such as electricity, water and gas, etc., but what about your other expenses?

For instance, if you’re struggling to make ends meet, you probably don’t need those premium cable channels. Or, perhaps you could do without the Internet or text messaging on your cell phone. These extra costs can add up – it’s up to you to trim your nonessential costs.

Here are some other costs that you might able to trim from your budget:

1. Cell phone vs. Land line telephone – Do you need both your cell phone and land line? If so, maybe you could reduce your cell phone plan so that you’ll pay less per month. Or, if you have free long distance on your cell phone (which is standard for most plans), make sure you use your cell phone for long distance calls, rather than creating a long distance bill at home.

2. Try bundling – Many companies are offering customers the chance to bundle their telephone, Internet and cable services for a flat rate. Some are offering the deal for about $99 per month. If you need these three services anyway, it’s worth checking into this.

3. Extra cell phone charges – Are you always running over your cell phone minutes and footing the bill later? Monitor your phone conversations and try to talk when your night and weekend minutes begin. Or, if your text messaging habits are adding dollars to your charges, try to limit your messages to family and friends.

4. Gym membership – You set your New Year’s resolution, but you’ve only been to the gym three times since you started your membership. If you’re not going to use the membership consistently, then maybe you should consider cancelling it.

5. Beauty expenses – Some women are accustomed to getting manicures or pedicures, but perhaps you could stretch the time between nail salon visits. Or, you could attempt to do them yourself with your friends.

6. Utilities – Though we all need to use our utilities, we could all be more responsible with our energy consumption. As a result, you’ll save money on your monthly bills. For instance, you could wait to wash a full load of clothes instead of only a few items. Or, the family could watch one television together at night, rather than having two or three playing simultaneously (especially if everyone is watching the same show). Also, remember to turn off lights when you leave a room – every little bit helps.

What are some things that you’ve done to reduce your monthly expenses? Write in to The Pinch to let me know.