40 Ways to Save Money on Monthly Expenses - The Simple Dollar - Deepstash

Bite‑sized knowledge

to upgrade

your career

Ideas from books, articles & podcasts.

published 15 ideas

40 Ways to Save Money on Monthly Expenses - The Simple Dollar

thesimpledollar.com

Save On Transport Without a Car

You’ll save far more if you don’t buy a car or sell it if you already own one but can go without it.

If you can use public transportation, you can save quite a bit of money on gas, parking, and maintenance over time. 

6

STASHED IN:

244

Save On Transport While Keeping a Car

Carpool to work if you can to significantly reduce wear and tear on your car, save on gas, and take advantage of carpool lanes that might make it easier to get to work.

Check at least once a month to keep the tires on your vehicle properly inflated. Doing so can improve your g...

4

STASHED IN:

238

Save On Debts

Refinance your home or automobile at a lower rate to save money over the life of the loan and lower your monthly payment.

If your student loans are locked in at a high-interest rate, figure out whether it makes sense to consolidate all or some of them.

4

STASHED IN:

247

Consolidate Debts 

If you have debts with a high-interest rate, a balance transfer might be a good option and even offer perks such as 0% APR and rewards programs. Ensure you consider the balance transfer fees, and pay down the entire transferred balance during the introductory period if possible.

I...

2

STASHED IN:

245

Check Your Personal Loan Rates

If you have a large balance on your credit card, call your credit card company and request a rate reduction. If you often pay on time, they may be willing to negotiate, or you can get a 0% balance transfer onto another card.

Many installment plans offer an interest rate reduction ...

2

STASHED IN:

240

Sell Unused Items

Look for items you no longer use that may have value, then sell them online. You can then use the money you bring in to pay off debt. 

3

STASHED IN:

270

Saving On Energy Bills

  • Install CFL or LED light bulbs, if you haven’t yet. These bulbs can be four times more energy-efficient than incandescent bulbs and last for many years.
  • Install a programmable thermostat so you can optimize its usage.
  • Unplug unused electrical devices. 

4

STASHED IN:

283

Reduce Waste On Services

Country clubs, gyms, cable, newspapers, and magazines are some of the things that people often sign up to but rarely use. Try canceling any memberships you’re on the fence about, and see if you really miss them.

Also, look at the services you pay for monthly and think if their cos...

4

STASHED IN:

245

Save Money On Food

  • Cook large batches of food, freeze for later meals and take some for lunch at work.
  • Reduce or stop eating out or getting take-out. Instead, find options to make dining at home more convenient.
  • Buy non-perishable items in bulk and use coupons

7

STASHED IN:

345

Reduce Health Insurance Bills

Ask at work about your available options that might reduce your insurance costs, and look into family options if you have one.

To lower monthly premiums, consider a high deductible health insurance plan. Just be sure to weigh the expected savings against the additional ...

2

STASHED IN:

226

Shop For Homeowners And Auto Insurance

Research your options. You may save money and maintain your current level of coverage by changing insurance, but give your current service a chance to match quotes.

You can also bundle your homeowners and auto policies together, most insurance companies give discount...

2

STASHED IN:

223

Consider Term Life Insurance

If you’re paying for whole life insurance or universal life insurance, consider a cheaper term policy instead. The cost per year will be significantly less expensive – even if you buy similar coverage.

The only difference is, your policy will terminate eventually with term coverag...

3

STASHED IN:

230

Raise Your Deductibles

If you’re paying a large premium in order to have a small deductible, you might want to consider switching that, particularly if your claims are infrequent. Raising your deductible may reduce your annual premiums, easing the monthly strain on your bills.

3

STASHED IN:

226

Reducing Child-Related Expenses

Compare childcare options in your area or try to reduce your existing childcare by a day or two — for instance, look into a nanny-share arrangement, ask for your family’s help or try working a later shift so you can be home during the day.

You can also reduce or eliminate ...

2

STASHED IN:

217

Save Money

  • Lower your cell phone bill by downgrading your plan if you don’t need all you are paying for.
  • Don’t outsource household services when possible.
  • Stop tithing, at least temporarily. Most religious groups are supportive of this if you need time to get...

9

STASHED IN:

383

0 Comments

Discover and save more ideas by creating a

FREE

Deepstash account.

Develop a

reading habit

, save

time

and create an amazing

knowledge library

.

GET THE APP: