- Trim $100/month from your grocery budget = $1200/yr
- Trim $100/month from your gasoline budget = $1200/yr
- Trim $200/month from your dining out budget = $2400/yr
- Trim $100/month from your clothing budget = $1200
- Cut cable/satellite = $800/yr
- DIY auto and home repair = $500/yr
- Drop internet from your cell phone = $360
- Dye your own hair every 8 weeks = $520
- Reduce home electricity use by 25% - $400
- Buy almost everything used, and then make it last as long as possible = $500
Now obviously some of these things won't apply to everyone. For instance, we are not going to completely cut our cable/satellite out, but I can probably save more than the $100 for groceries and for gas (some months anyways). And if you think about it, there are probably other areas you can cut to make big savings, so here are some other areas:
- Memberships to gyms, clubs, etc - do you need them, do you use them, are they saving you money?
- Processed foods versus convenience foods - what is the true value and true cost?
- Toys for the kids - how many do they need? Do they even play with the ones they have?
- Internet service - do you need the super speedy gaming service, or will a more basic package work just fine?
- Day care - do you have to work a second job because day care for 1 kid is usually at least 6,000 annually
- Entertainment - going out to the movies, going to expensive parks and museums - the free ones tend to be just as good, and more plentiful, plus use the redbox for a movie (or the library where they are free)
- Electronics - do you need a new ipad, new computer, etc if you are really just getting and up grade? How necessary are the up grades anyway? My husband and I recently just backed our files up, erased our hard drives and reinstalled our OS, now they work much better, much faster and much easier - for free because we still had the old OS and other drives discs
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