Save Money- 5 Ways to Cut Household Costs

by Marina

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These 5 ways to cut household costs may not seem like rocket science to some, but they’re surefire ways to save money! How many do you do?

Are you looking for ways to save some money on your monthly expenses?

I have a few simple tips that aren’t rocket science but will help you reduce your spending.

Implementing these ideas is easy and can help you save significant money over time.

5 Ways to Cut Household Costs

1) Buy in Bulk

When saving money on your monthly expenses, buying in bulk is one of the best strategies.

By purchasing items in large quantities, you can get a discount from the store.

This is because the store will be able to sell the items at a lower price since they can make fewer trips to the warehouse.

You can buy almost everything in bulk, from bulk rolled oats, to laundry detergent, to shampoo.

Separate a small portion for your daily use and keep the rest well sealed.

Another great thing about buying in bulk is that you will have fewer trips to the store, which means you will save on the money you spend on gas!

To take advantage of this strategy, you need to be sure you will use all the items you purchase.

If you end up wasting food or other products because you cannot use them all, you will not be saving any money.

So make sure you write a shopping list of what you need and stick to that list!

2) Use a Cash-Back Credit Card

Using a cash-back credit card is another great way to save money on your monthly expenses.

These cards offer rewards such as cashback, points, or miles for every dollar that you spend.

This can add up over time, and it can help you reduce your overall spending.

For example, if you spend $100 on groceries each month, you could earn $30 back in cash rewards.

That’s an extra $360 per year that you can put towards other expenses!

There are a few things to keep in mind when using a cash-back credit card.

First, be sure to pay off your balance in full each month.

If you carry a balance, you will be charged interest, which can negate the benefits of the cash-back rewards.

Second, be aware of the different types of rewards offered by each card.

Some cards offer higher rewards for specific categories, such as gas or groceries.

Others offer a flat rate for all purchases.

Choose the card that offers the best rewards for your spending habits.

3) Negotiate Your Bills

One way to reduce your monthly expenses is to negotiate your bills with service providers such as cable companies, cell phone providers, and internet service providers.

Many people are afraid to do this, but it can save you a lot of money if done correctly.

Start by gathering together all of your bills and finding out how much you are paying for services each month.

Then call the service providers and ask for a discount.

Be polite and reasonable, and remember they want to keep your business.

If they refuse to give you a discount, ask if there are any promotions or deals currently available that could lower your costs.

And believe me, there usually are!

4) Brown Bag It

Bringing lunch from home instead of eating out is another excellent way to save money on your monthly expenses.

Not only is it cheaper than eating out, but it is also healthier for you.

If you eat out twice a week, bringing lunch from home could save you up to $1,000 per year!

There are many different ways to make lunches tasty and affordable.

You can pack healthy sandwiches, salads, leftovers, or even something light like a yogurt parfait or my no-bake peanut butter protein balls.

(Yet another way to use that bulk oats purchase!)

Or you can meal prep on the weekends and have lunches ready to go for the week.

Whatever you do, make sure that you are taking the time to plan and pack your lunch ahead of time so that you are not tempted to eat out.

And yes, this goes with buying coffee too!

You can make that cup of joe every morning with no problems at all.

Why you could even jump onboard a 30-day no-spend challenge!

5) Cut Out Unnecessary Expenses

One of the best ways to save money on your monthly expenses is to cut unnecessary expenses.

This may seem like an obvious solution, but many people continue to spend money on things that they don’t need.

For example, do you need that cable TV package with 200+ channels?

Or could you get by with a basic package or even streaming services such as Netflix or Hulu?

Think about the things you spend each month, and ask yourself if they are truly necessary.

You could use this simple printable expense tracker.

If not, then cut them out! This will save you money immediately and help you reduce your overall spending in the long run.

If you make it a point to create a budget for the month and chalk out where you spend your money, you will figure out ways to look for cheaper alternatives or cut off an unnecessary expense altogether.

Here are several Forbes-recommended budgeting apps to help simplify this process for you.

Remember being on a budget does not mean you cut off enjoying life as a family.

It just means you’re frugal and wise about spending money.

I’ve shared several budgeting resources to help do just that-

Once you have a budget in place, be sure to stick to it!

This may require some discipline, but it will be worth it in the end.

You can save money on your monthly expenses in many ways, but these are 5 ways to start you off.

Follow these tips, and before long, you will see how your costs reduce and how you can save money each month.

Don’t miss checking out these financial resources:

Every Penny Counts: Saving For A Better Future.

5 smart principles to help a new family stay out of debt

5 principles to help you stay out of debt

10 Easy Money Saving Tips to Make Your Dollar Stretch

How to Run Family Budgeting Meetings

Lessons with the Piggy Bank {Teaching My Child About Money!}

How to Teach Financial Literacy to a Teenager (+ Expense Tracker Printable)

Want more details about this and other budgeting & minimalist living ideas? Check out more here!
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 1 comment
  • Diana Diana on Jul 26, 2023

    You might need to check your math. Most cash back on groceries is 2%. Even $100 dollars a week versus a month would only be $8.00.