Every month, you have a number of bills that you need to pay so that you can maintain your lifestyle. You should know that you can increase your disposable income by managing your bills and cutting down your expenses. Here are ten ways to help you achieve just that.
- Sell your Excess
How many televisions and fridges do you have? How many other electronic items do you own where you have more than one item? Consider selling anything that appears in double numbers in your home. This will help you bring down your electricity bill as well as help put some money back into your savings account.
- Public Transportation
Rather than using your car each day to get to work, consider using public transportation instead. Train and bus tickets are much cheaper than fueling your car, and paying for the maintenance costs. Furthermore, when you use your car there are other costs that you will incur including parking costs as well as toll costs for using major highways. If for the most part, you spend your day in the office, then you can choose to Uber to attend meetings or other engagements.
- Purchase Items in Bulk
When doing your monthly household shopping, consider buying some items in bulk, especially nonperishables that you know you need. These are items like soap, water, toothpaste and so one. Purchasing in bulk is often cheaper, and you may find that you use even less of these items in the long run.
- Have a Dinner Party
It may sound strange to have a dinner party at home when you are trying to save money, but it helps immensely especially if the alternative is that you would take your friends out for dinner and drinks. Cook a meal like pasta that is affordable, and ask them to bring a bottle of wine with them. It will be much cheaper than paying a large bill at the end of the evening.
- Use LED Bulbs
Change all the bulbs in your house to LED bulbs to cut down the costs on your electric or energy bill. They cost more than normal bulbs, though you should look at these as an investment. They last up to ten times longer than these bulbs, and use only a third of the amount of energy.
- Consolidate your Debt
Consolidate all your loans, especially your student loans, into one account. This means that you will only be paying back one interest rate and installment. You may stretch out your bills for a longer period of time but on a month to month basis, you will make incredible savings.
- Keep to Deadlines
If you have a monthly deadline for a payment, make sure that you stick to it. Often, people extend these to fit their needs at the time and the result is that your interest rate goes up. This means that you end up paying back much more than you had earlier anticipated.
- Bring Down your Cable
Cable is by far a luxury, so you should make sure that you keep it as basic as possible. This means bringing down your package and eliminating all of your premium channels. Instead, you can choose to stream your favorite programs on other options that are much cheaper such as Netflix.
- Cut out Club Memberships
If you belong to a country club, cut out that membership, especially as it is likely that you spend less than once a week there. This is a cost that you will not miss.
- Grow your Own Food
Get some pots out and start growing your own vegetables and fruit at home. There are so many varieties that can grow in minimal space, which will save you high food bills. Furthermore, you can trust that all your food will be organic.