Finding money is as easy as sitting down every couple of months and giving your budget a little spruce. Although I check my bank accounts weekly there are still little fixes that can make a huge impact when it comes down to finding money within your budget. Weeding out subscriptions. that if we’re being realistic, have fallen to the waist-side and simply don’t deserve your $10 a month. Last night was one of those nights and a major win for my budgeting. Within a half-hour I was able to save $335.53 a year, for some, this might not sound like a lot, for others, you might be thinking about all of the other things you can allocate that money towards. Sit down and look at each line in your budget to make sure that you’re living the life your paycheck allows.
Instead Of a Raise Try This
If you’re hoping for a raise at work but it isn’t in the cards at this point, look at your budget to give yourself a raise. Let’s say you make $60,000 a year but are renting a place that you may be paying too much for. Look around to see if you may be able to find a place that’s just as great but listed at a lower price, possibly in another neighborhood. If you can shave off your monthly housing expenses by $250 a month that’s a 5% raise. Finding money can truly be that easy. I’ve even found apartments around the corner from me, cheaper, for the same size.
Cutting Out Your Gym Membership
This section is geared towards debt-ridden gym rats who can’t go without that adrenaline release. Trust me I get it, running has really helped me control my own anxiety. Unfortunately, sometimes your budget won’t allow for room to pay the astronomical fees attached to a gym membership. Between the start-up fees and monthly expenses it may be hard to find room in your budget.
Recently I made the decision to pay for an inexpensive foldable exercise bike that I can keep in my apartment. I also bought a few more small accessories to fill out my home gym. When considering the one time payment of a $150 stationary bike vs. being locked into a gym membership for a year or more the bike can save a substantial amount.
Maybe the bike isn’t your thing, find what is and see if it’s more worth it to purchase a few pieces for your home rather than paying for a gym membership year after year. With the amount of workout classes offered online for free now days it may be worth it to save.
I went through our subscription pile to see what could be eliminated. I took a look at my Kindle Unlimited subscription and realized that I didn’t use it enough to justify $120 a year when I could just buy one or two books I was borrowing for a lot less or head to the library for free. Next came the removal of my Amazon Prime video account. When I went to cancel my membership I was suddenly made an offer to stay on for an additional 3 months for $1.99 vs. the regular $29.99. I made a mark in my calendar to revisit this subscription in 3 months when the regular membership price starts back up. Quickly run-through your own monthly subscriptions to see what can be canceled.
Next, I changed my online portfolio website from a monthly subscription to a yearly which slashed $48.53 a year from the price I had originally been paying. When I first made this purchase I wasn’t ready to sign on to a yearly subscription. Since I have had this website for a while now I thought it was ready to collect on my discounted rate. Take a look at your subscriptions to see what could be switched to a yearly at a discounted rate to help with finding money.
Beware of Sneaky Charges
My last budget move of the night, which will save more money than I can currently count was to buy an internet router. A couple of months ago I realized that our internet bill was $5 higher and out of seemingly nowhere we had an internet service charge. I had never noticed this line before so I went back to old bills and realized the charge had just started. I called up Spectrum, our internet provider and asked what this sudden charge was for. She informed me that the internet company had decided to raise their prices and we were now being charged to rent our internet router. Realizing that over time it will cost me more to rent than to buy. I decided to buy one for $60 which will be paid off after one year and return the one I’m renting.
By sitting down and going through your budget line by line you can make simple tweaks that can add up over time. I can’t express how important it is to pay attention to your bank accounts and bills. Minimal charges can sneak onto your account and rob you of your latte or travel budget. It’s all about making sure your money goes to the things that matter in your life.
Lookng for more like this? Head over here to explore How To Create A Budget!