10 Ways I Save Money Every Month

A big part of becoming financially independent is keeping your expenditures as low as practical. The lower your monthly burn rate the smaller the nest egg you have to accumulate to reach FI. Below are just ten of the ways I save money every month. Enjoy!
Cut Cable / Satellite
This year I finally did it. I got rid of my satellite television. Sadly, TV used to take up quite a bit of my free time. It was easy to come home from work and just veg out in front of the idiot box. As I develop better habits, I find I can fill my time with better alternatives like reading, writing, and exercise. I was spending close to $90 dollars a month on satellite TV. I got rid of that expense and now have a subscription to Netflix and Hulu. Mrs. H and I have found new shows that we like, but I try to limit my view time to no more than an hour per day.
2. Auto and Home Insurance
The easiest way to save money on insurance is to raise your deductibles. If you have established an emergency fund, you should have the money for your deductible in the event bad things happen. I also try to take advantage of any discounts offered by the insurance company. One of these is to bundle your home and auto policies. I have a teenage driver in the home and I make sure she keeps her grades up so she qualifies for the good student discount. Finally, I review my policies annually and get quotes from other companies, just to make sure I am getting the best rates possible.
3. Setting the Thermostat
Here I would recommend a programmable thermostat to most folks. I work a rotating schedule, so I would have to constantly reprogram it. My family has compromised on the temperature settings in an attempt to make everyone comfortable. I would like it a few degrees cooler and the girls would like it a few degrees warmer, so we met in the middle. I have a temperature setting we keep it on in the summer when the air conditioning is running and a setting for the winter when the furnace is running. My favorite time of the year is in the spring and fall when neither is running!
4. My Cell Phone Plan
I don’t know how many times I have considered ditching my cell phone all together. But these days the cell phone has become a must for most people. I limit my costs by having a month-to-month plan. I have found these to be the cheapest options. I still get unlimited calls and texts and I keep my data usage to the lowest plan they allow. I try to use WiFi whenever possible. When I regularly frequent a business I ask for their WiFi password. Most places are happy to share it with you and then you don’t have to use your on cell data. I also don’t buy the latest and greatest phones. I use my phones until they break and then upgrade to a phone that is a couple of years old. It’s like buying a used versus new car… lots cheaper!
5. I Rarely Buy Clothes
I am pretty lucky when it comes to my work attire. I can wear jeans and a t-shirt. I have about 4 pairs of pants that I rotate through and a different color t-shirt for every day of the week. I have one suit for special occasions and I have some workout clothes. Pretty simple. I never have a hard time figuring out what to wear. I usually get clothes for birthdays or Christmas, so I rarely buy them for myself. When I do buy clothes, I make sure I buy quality clothes that will last.
6. Grooming – The Zero Dollar Shave Club
My wife cuts my hair for me. I am balding anyway, so I don’t have to maintain a luxurious mane. I simply have her buzz it close with a pair of clippers I bought over five years ago, then repeat the process about every six weeks. I have a beard so I don’t shave daily either. Razors are expensive! I let my beard grow out until it starts to get unruly, then I buzz it close and start the process over again. So embrace your inner Grizzly Adams and ditch those costly razors! (ladies I realize this may not be an option for you)
7. Pay off those Credit Cards!
I despise paying interest! It is money wasted in my opinion. I pay off my credit card bill every month. I also use a cash back credit card, so the credit card pays me to use their card. I use an Ally Visa Cashback card. I get two percent cash back on gas and groceries and one percent on everything else. Plus, when I redeem my cash back they give me a ten percent bonus of the cashback amount!
8. Brown Bag It
I am fortunate that I have a full kitchen where I work. This lets me go to the grocery store and buy food for the entire work week. I take the food to work, store it in the refrigerator, and prepare a simple meal whenever I need to eat. I save a bundle not having to buy convenience food. Even if you don’t have a kitchen at your workplace, you should still bring your lunch. Prepare your meals in advance and just pop them in the microwave. You will not only save money, you will probably eat healthier foods than the take-out alternatives.
9. Mr. Fixit
I do all of my own simple home and auto repairs. Unless you are way too busy and could be otherwise earning money, there is no reason not to. You can find out how to do just about anything on YouTube these days. Just type it in the search bar and I bet several videos pop up detailing all the steps you need to take. Try it out! The next time something breaks look it up and try and do it yourself. The worst that could happen is you have to call someone to fix it anyway. You just might save yourself a little cash and learn a new skill while you are at it.
10. Books
I read a lot. I probably read three to five books a week. This could become an expensive hobby. Sure I could go to the library, and I do, but I have read all of their books on personal finance. For newer books I have turned to Kindle Unlimited. For $9.99 a month I can read all of the books I can get my hands on. Conservatively, let’s say that a Kindle title costs $4.99, then all I have to do is read two books a month and I have gotten my money’s worth. As I said, I read way more than that. And you should too. Books and blogs open up new worlds and new ideas and I think they are money and time well spent.
Well hopefully you enjoyed my list and found a couple ideas you could make your own. What ideas do you have for saving money? Comment down below and tell us what you have. Thanks for reading!

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