By Maria Patterson
Need to start adding some more money to your monthly credit column and reduce the amount in the debit column? If you take a good look around your house - and no, not under the sofa cushions - you can upturn money in several different areas.
Evaluate your cable needs. Take a good look at your cable bill. Are you paying for a landline you don’t use anymore? Channels you never watch? Cable boxes you don’t need? Chances are you can slash your bill dramatically. In fact, if you’re mostly watching Netflix, using an Apple TV or Roku, you might not need cable at all.
Be more energy efficient. Talk to your energy company about the options available to you. Thanks to deregulation, you now have a choice of providers. Also consider solar panels. After the initial installation cost, your monthly energy spend will drop significantly.
Be proactive with your mobile provider. Take a good look at your mobile bill for unnecessary expenses and to make sure you’re getting the best plan. Carriers are always introducing new package deals and specials, so be proactive and ask them how you can reduce your bill. You also might want to consider going without a contract and paying month to month.
Bundle insurance. Insurance providers want your business and will offer discounts when you bundle your various insurance needs with them--auto, home, life, etc. But discounts for bundling vary widely - from 3 - 22 percent, according to insure.com. So make sure you shop around before you choose a provider.
Drive less. Economic indicators point to gas most likely reaching $3 per gallon this year. No matter what happens with prices, though, gas expenses add up. Look for ways where you can reduce your time behind the wheel. Try car-pooling, biking and walking when you can. And if you’re in the market for a new car, it’s worth considering a hybrid, diesel, or other fuel-efficient model.
Manage your meals. If you’re not tracking your grocery expenses, start immediately. You’ll be surprised (maybe even shocked!) at how much you’re spending on groceries. Once you get a clear picture of what you’re spending, find ways to reduce that amount. Shop in bulk for items you use frequently, shop weekly specials and clip coupons, and make sure you join the rewards programs of the stores you frequent most. You will also save money if you plan your meals for the week. This will enable you to buy only those items that you really need, reducing impulse purchases.
Evaluate gym memberships. Good health is priority one, so if you use your gym regularly, stick with it. However, if you’re not taking full advantage of your membership, nix it. Or at least freeze it until you can commit to going more often. In the meantime, try any number of great exercise apps at home, or get out in the fresh air and walk. As long as you keep moving, you’re moving toward better health.
Sell stuff. Why the idea of organizing a yard sale may be overwhelming, there are much simpler ways to make some money from clothing and household items you no longer need. In addition to eBay and Craigslist, Techlicious recommends the following apps: OfferUp, Gone, Vinted and Tradesy. The best site to use depends on what you’re selling, so do your research. You’ll want a different site for selling a computer as opposed to that designer purse.
The most important rule to remember when finding ways to cut expenses around the home? No savings is too small. You will be amazed how quickly they add up to real dollars!
I hope you found these ideas useful. Contact me for more helpful home advice and real estate information.