With rising inflation, prices of essential goods, and taxes on other products, it’s no wonder many people can’t afford what they need. In most families, parents must work at least one job to make ends meet. This becomes difficult to maintain, such as when families face a health crisis or children need to participate in different activities.
But even in this economy, there are ways to expand, even on a small budget. We’re so used to getting what we want that we often forget that there are ways to expand on our basic needs, cut back on necessities, and spend less. You can trim the fat on any budget by cutting out unnecessary expenses. The question is what to do to reduce costs and save more money. Here are some ways I’ve learned to increase your monthly budget.
Streamline your entertainment
While my mortgage takes up a big chunk of my monthly budget, you might be surprised to know that entertainment apps, streaming services, and computer apps also take up a big chunk of my money. While some apps are a necessity, I don’t need every entertainment app I subscribe to, especially given my job. Hulu and Netflix are great for binge-watching your favorite shows, but if you only like one or two shows, you don’t need the others. In these areas, making some sacrifices and canceling some streaming apps doesn’t have to disrupt your bank account too much.
I don’t play a lot of games on my phone, but there are a few that I can easily get rid of to save money. If the going gets tough, you can cancel your cable TV and use a streaming app for your TV.
You’re sacrificing a lot by quitting entertainment apps, but this could be a great opportunity to spend more time with your loved ones, read a book, or do other activities you’ve always wanted to do but never had the chance. For example, you can go for a walk, make a craft, call your kids, or read a book you haven’t read yet that’s on your to-read list.
use one car
Not everyone can make this happen, but if the going gets tough, you could sell your car and only have one car to use. It will take some ingenuity and creativity to work around your husband’s work schedule, but you can certainly make ends meet with significant cost savings if needed.
Not only will this help you put extra money into your savings account, but it will also save you money on things like gas, maintenance, and insurance, among other things. Having two cars seems like an accessory in today’s world, but it’s a luxury. Every time you acquire something luxurious, you incur upkeep costs and other difficulties, and it can be more expensive to keep than to sell in the long run.
Create a date night at home
You can cut costs by having more dates at home instead of eating out, using DoorDash, or doing other activities outside the home. For example, you can spend time at home playing cards, playing board games, making crafts, watching movies, or making copycat versions of your favorite restaurant dishes. After a long, hard day, it’s easy to go out and do something, but it may take a little time and brainstorming to craft a good date night that, if done well, can be just as enjoyable as more expensive activities.
reduce food costs
Many regions are affected by inflation, and food is at the top of the list. Groceries have increased by an average of $100 per week for a family of four. With food costs soaring compared to just a few years ago, it’s difficult for families to prepare healthy meals. Although it may be difficult, this is an area where significant savings can be achieved.
We live in a time where you can open the refrigerator, throw a pre-made dinner in the oven, and have dinner ready within an hour. But past generations had a different story. Many of our grandparents suffered during the Great Depression. As a result, they were forced to significantly reduce their food costs, among other things. That’s because I didn’t have enough money to buy a lot of food. It’s good to have a full pantry of food, but you don’t necessarily need all the food you buy.
Take inventory of the food you eat and the food that ends up in the trash at the end of the week. Have you ever frivolously spent money on food, only to end up throwing it in the trash at the end of the week uneaten? If so, you’re wasting more money on things that seem necessary but are essentially lacking.
Although it can be difficult at times, try to consume only the essentials such as meat, dairy products, bread, eggs, and toiletries. Cut out extra cereal, sugary treats, and other desserts and snacks (like potato chips, cookies, and candy). These things are fun and frivolous things to do throughout the week to accentuate your dinner eating experience, but not only will you save big on these items, you may soon notice that you’ve lost a few pounds, your waistline is a little thinner, and your family is healthier as a result.
Try cutting $50 from your budget and see what happens. Choose to only buy items on the outer perimeter of the grocery store. Most healthy foods and essentials are strategically located around the perimeter of the grocery store. The aisles in between are filled with processed foods, junk food, and other unnecessary items.
Try ordering only food from your surroundings for a month and see what happens. Can you find more creativity and ingenuity just by doing it and making simpler, healthier meals? Do you often get turned off by the convenience of making TV dinners and other fun foods like pizza and burgers from scratch?
Saving money may cost you more time and mental effort, but it’s well worth the savings. Put all the money you saved with the above suggestions into a jar and see what happens. See how much you saved at the end of the year.
It may seem like a sacrifice now, but think about what you could do if you saved even $50 over the next 11 months. What will happen budget-wise? What will it do for your savings? Instead of throwing money away on frivolous things you don’t necessarily need but have gotten into the habit of having for convenience, think about what you can do with the money you save.
Saving money is always a struggle. To ensure that your monthly budget is efficient, you must continually reevaluate it. However, if you follow the suggestions above, you might find that at the end of the year, you’ll not only save a little more, but you’ll find that your body, soul, mind, and spirit are better for your financial sacrifices.
Photo credit: ©Getty Images/David Sacks
Michelle S. Lazurek is an award-winning multi-genre author, speaker, pastor’s wife, and mother. She is a literary agent with Wordwise Media Services and host of The Spiritual Reset podcast. Her new children’s book, Hall of Faith, encourages children to understand that God can be trusted. When I’m not working, I enjoy drinking Starbucks lattes, collecting 80’s memorabilia, and spending time with my family and dog. For more information, please visit her website www.michellelazurek.com.
