There are some monthly services you may be paying for without a second thought. But if you’re trying to cut down on your monthly expenses and save more money, consider the less expensive alternatives of common monthly services and expenses:
Typical monthly expense: $86.00
Less expensive option to consider: There are a lot of options for cutting down on your cable bill, but evaluate the need to have cable at all. You may be better off getting rid of it completely, and instead subscribing to a much cheaper monthly service, such as Amazon Instant Video or Netflix. For less than ten dollars a month, you may still be able to stream some of your favorite television shows and movies. If canceling cable isn’t an option, take a look at your current plan and figure out what channels you could do without. For instance, you might be paying for a package that includes a ton of sports channels, and nobody in your household even watches them. Call up your cable provider and downgrade your plan as much as possible.
Typical monthly expense: $55.00
Less expensive option to consider: Take the money you’re spending for your membership and buy some of your own exercise equipment. It will pay itself off in no time, you’ll have one less monthly bill to worry about, and you can conveniently work out whenever you want in the comfort of your own home. Even without equipment, it’s easy to mix up your routine and break a sweat without spending a single penny. When the weather is nice, skip the indoor workouts and find something to do outside that’s fun, free, and gets your heart rate up. If canceling your gym membership is out of the question, consider what you’re paying for or the type of gym you go to. For example, you may be paying a lot each month because you’re a member of a gym that offers the best equipment and their memberships include classes. But if you never attend the classes and you don’t care about using a treadmill with its own television, consider switching to a no-frills gym that offers cheaper memberships.
Subscriptions to periodicals
Typical monthly expense: $10
Less expensive option to consider: Although typical magazine subscription costs are normally cheap, the cost of a newspaper subscription can easily add up, especially if you have a daily subscription. Consider switching to a digital subscription if you have an eReader, which can help cut down on costs, or switching to weekend delivery only.
Cell phone plan
Typical monthly expense: $47.00
Less expensive option to consider: You may be paying for more data than you’ll ever need and features you don’t even use. If you’re not locked into a contract, look over your monthly bill and find out what you can get rid of. If you are locked into a contract, shop around before renewing. You may find a similar plan with another provider, but for a lower price.
Typical monthly expense: $60.00
Less expensive option to consider: Your monthly Internet bill may be expensive because you’re paying for a high-speed connection. If you don’t use the Internet for much more than just browsing social media and checking emails, you don’t really need the fast speed. Opt for a plan that includes slower Internet, and you probably won’t even notice the difference—except when the bill comes.
Are monthly bills and expenses adding up? If you’re receiving periodic annuity payments, but could use that money sooner, Peachtree Financial Solutions may be able to help get you the cash you need. Peachtree can buy a portion of your structured settlement payments and offer you that money in the form of a lump sum. Contact us today to learn more and to receive a free quote.
Nothing above is meant to provide financial, legal, or tax advice. You should meet with appropriate professionals for such services.