When it comes to your finances, it’s easy to get caught up with the big picture: You’re not being paid enough, your rent is too damn high, and you don’t know what a 401k is. These issues pose a complicated and often times frustrating challenge if you have hopes to save a bit of money. If you don’t have a raise on the horizon, you can’t move any time soon, and you don’t have the time to research retirement plans, then it can seem like your frugal goals are unattainable. But that’s where you’re wrong! There are plenty of small changes you can make to your habits that have a big impact on your finances. Use this guide to trim the fat from your budget without overworking yourself.
Ditch Cable for Netflix
Can you believe we’re approaching Netflix’s 20th anniversary? It’s come a long way since its humble beginnings as a DVD-by-mail order service. After beating Blockbuster soundly (and indeed, the video rental industry as a whole), it’s now the biggest online streaming service that’s available in 190 countries with over 90 million subscribers. Netflix revolutionized the way we watch TV; it even changed what we watch as it produces successful Netflix originals like the Marvel series, Orange is the New Black, and The Crown. But Netflix has a far greater influence than its ability to commandeer a weekend as we binge-watch Iron Fist. It has the power to save what you keep in your wallet.
As of last year, the average cable TV package costs Americans $103 a month. Compare this to Netflix’s subscription. A basic streaming plan, which allows you unlimited access to their catalogue on one screen, is $9. Upgrading your package to allow four separate screens only costs you $12. By saying sayonara to your cable company, you could be saving as much as $91 every month and you won’t be missing out on your favorite TV shows.
Get an Installment Loan
It may seem counter-intuitive to correlate borrowing money with saving it, but your choice of financial assistance can affect the long-term health of your finances. The fact of the matter is you’ll have to take out a loan eventually. Nearly everyone in America relies on some form of assistance to get through life, whether it’s through credit cards, personal loans, or mortgages. You aren’t any different. Though it’s normal to use these products, it doesn’t mean they’re all suitable for your finances.
When you borrow money from the wrong source or accept a loan with rates or terms beyond your means, you’ll have trouble paying it back on time and risk rolling over. When you get your payday loans online, it’s important to locate a lender that offers rates, terms, and conditions you can manage. Take the time to explore their website and speak with a specialist whenever you aren’t sure about what their assistance entails.
Go Green
Don’t let Kermit convince you otherwise, it’s easy being green. Making your home eco-friendly and energy efficient isn’t just simple, it’s also cost effective. Our utility bills can balloon when we waste energy thoughtlessly, so try to:
- Switch to LED (Light Emitting Diode) or CFL (Compact Florescent Light) bulbs and turn off lamps and other light fixtures when you don’t need them
- Wash your clothes in cold water at the appropriate setting
- Use energy-draining appliances like your washer, dryer, and dishwasher, at off-peak hours
- Don’t let your furnace or air conditioner stray from room temperature, and rely on blankets or windows to regulate your home
- Seal any cracks in the weather stripping around windows and doors to ensure there aren’t any draughts
It’s not always the grand financial gestures that can help you save. Cutting cable, borrowing intelligently, and going green are just 3 ways you can cut down on your expenses, but they’re not the only methods of increasing your monthly savings. There are endless possibilities as long as you’re willing to get a little creative. So give it a try and start making a difference.
