How To Cut Spending And Save Money – It’s often when we stop spending money on small things that we start saving big! Check out these simple expenses you can cut to start saving money and reaching your financial goals!

This is a sponsored chat written by me on behalf of Varo. All opinions and writing are my own.

How To Cut Spending And Save Money

I have always loved this advice from Benjamin Franklin: “Beware of small expenses; a small leak will sink a great ship.” Pretty cool, right?!

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When we want to stop spending money, we often look for great ways to save and forget that often, it’s cutting back on small expenses here and there that end up making a big difference!

I know for us, cutting costs was one of the biggest things that helped us pay off our mortgage in 5 years.

It has also been instrumental in allowing us to live debt free while my husband pursues his Bachelors and Masters and now his Ph.D.

We all know that it would be just stupid to blow $40,000 that we don’t have an expensive vacation. And it doesn’t take a financial advisor to understand that dropping $150 to eat out every night of the week probably isn’t the smartest way forward.

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But sometimes it is difficult to go back and evaluate some of the small costs that we can reduce.

So whether you’re looking for ways to stop spending because you want to get out of debt or you’re trying to figure out how to cut expenses so you can reach your savings goal, these ideas for how to cut more “small” expenses should help!

1. Bottled Water Guess what? Studies have proven that bottled water is no different than tap water. So not only are you wasting your money buying, all plastic bottles are bad for the environment too!

Instead, get a refillable water bottle and fill it with your own filtered water. We like this under the sink water filter but you can also use a Brita Water Pitcher.

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And if you want a water filter that will last for years and that you can also move with you wherever you live, check out these Berkey filters.

2. Nutrients, Drinks and Desserts Obviously, cooking at home is the best way to save money. But who doesn’t enjoy eating from time to time?

The occasional times we eat out we find that just ordering an entrée is enough to fill us up anyway. And by skipping those more expensive items, we eat healthier too!

3.Coffee to Go I love the convenience of buying coffee drinks as much as the next person. But that convenience quickly becomes expensive!

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Buying regular coffee just three times a week will set you back more than $300 a year. And if you’re like me and prefer lattes and frappes, you’ll be spending as much as $780!

Instead, take a few minutes and make your own coffee at home. Even if you end up spending a lot more money to get a really good quality coffee or a coffee machine to make a latte, in the end, you still save a lot of time!

4. Bank Fees I recently read a study that found Americans spend an average of $329 per year on bank fees! I had no idea it would be that high!

But when I thought about it, it made sense because most banks like to charge a ton of fees.

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There are fees for using ATMs. Fees drop below the minimum balance required. Transfer fees. Foreign purchase fees. And sometimes even a monthly fee just to have an account. Well, it’s crazy!

Moving to a free bank like Varois is a great and easy way to save. Unlike the big banks that charge you for almost every single transaction, Varo has no fees at all.

They offer free cash withdrawals at 55,000+ Allpoint® ATMs, no minimum balance requirements, no transfer fees, no foreign transaction fees and no monthly account fees. And if you lose your debit card? No big deal. They will replace it for free!

5. Christmas gifts Don’t worry. I’m not suggesting that you stop giving Christmas gifts altogether. That would just be sad!

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Think about it. What? Do your kids need four gifts each? How many of the gifts your family received in the past few years were used and played with? If you’re like most families, the answer is probably just a few.

And the best? Work to shift the emphasis from gift-giving to making memories and fun family activities instead.

6. Second Car Several years ago, I was sure that I would not be able to live as a one car family. But when our second car died, my husband convinced me to give it a try because of the amount of money it would save.

And while it can be difficult at times, it really wasn’t as bad as I thought it would be. Plus, we’ve saved thousands!

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Not only do we have the money the car would have cost, but we also don’t pay the cost of insurance, inspection costs, repairs, etc.

7. Cable TV Did you know that the average cable bill is $100 a month? That’s a lot of money. Think what you could do with an extra $1,200 a year!

We don’t have a TV, so you might think I’m not the best person to share tips on how to cut costs here.

I have several friends who have ditched cable altogether and instead saved money by using a Rokuor antenna. And they say it’s totally worth it!

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Another option is to get Amazon Prime, which comes with Prime Video for free, plus for a little more each month, you can add subscription services like HBO, Showtime, STARZ and more to your membership.

The great thing about Amazon Prime and subscription services is that you can cancel them at any time!

8. Subscriptions and Memberships Memberships and monthly subscriptions are one of those tricky things that can destroy your budget without you even knowing it!

You get so used to paying them that it becomes normal, even if you don’t use the product or service anymore.

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Are there any magazines you don’t read? Gym membership not valid? Do you really need subscription boxes? Movie streaming services that you can do?

9. Cell Phone With all the budget cell phone plans available again, there’s no good reason not to use one of them. We switched to Ting six years ago and have saved thousands as a result!

Even if you use your cell phone a lot, there’s no reason to spend $50 a month. Do a little research and find an affordable cell phone plan that will work for you.

We’ve found that with the help of YouTube, a little persistence and a little elbow grease, we’ve been able to fix more than we ever imagined. And of course, it has saved us a lot of money in the process.

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Get $25 when you sign up for a Rakuten account and then use Rakuten to earn cash back when you shop online! It can be hard to save money, especially if you’re already on a tight budget. But there are some simple things you can do to start saving money today.

The first step to saving money is knowing how much you spend each month. This will help you know where you can cut back on your spending. There are several ways to do this, including using a budgeting app or tracking your spending for a month to get an idea of ​​where your money goes.

Once you know where your money is going, you can start reducing your spending. There are several ways to do this, including:

Finding cheaper alternatives to things you spend money on regularly, such as switching to a cheaper phone plan or buying generic brands instead of name brands.

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Putting more money toward your debt each month so you can pay it off faster and save on interest.

One of the best ways to save money is to have it automatically deducted from your paycheck or bank account each month. This way, you will never even see the money and you will be less likely to spend it. There are several ways to do this, including direct deposit into a savings account or using a service like Digit, which automatically deposits money for you based on your spending habits.

Investing in yourself is one of the best ways to save money in the long run. This includes things like taking courses to improve your job prospects or learning how to cook healthy meals at home. Not only will this save you money in the long run, but it will also improve your overall well-being.

Saving money is easy when you have a plan. Figure out how much you need to save each month and set a budget so you can track your progress. Having a plan will help you stay on track and motivated to reach your savings goals.

Tips For Reducing Your Expenses

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