1. Seek the help of others in reducing your monthly expenses. Did you know that you can reduce your expenses just by asking? You can ask your “suppliers,” such as your internet provider, cable provider and even your credit card company to reduce your bill. A simple call to these service providers will do. Most of these service providers do this because it is easier for them to maintain you as customer than to find new customer.
2. Minimize unplanned eating out. When you reduce the times when you squeeze fast food lunches in your daily schedule, you can save as much as $30 per week. That’s more than $1,500 in one year. Before leaving for your office, pack your lunch. You don’t only save money but also eat healthier lunch with this strategy. In the long run, you don’t only save for lunch but also on future medical expenses.
3. Review your insurance premium. Don’t celebrate just yet with the killer deal you made with your bundled auto insurance and home insurance. Without your knowledge, there might be something wrapped up within your policies. Ask for a quotation every two years or so. You will realize that the price difference can save you between a few hundreds to over a thousand dollars. Most insurance companies increase their prices in response to a loss in a certain geographical area while in some areas where they are more profitable, they tend to reduce their prices. Also, ask for quotes from less-popular insurance companies. You might be surprised that there are lesser-known insurance companies that offer better coverages than the more popular ones.