When my husband and I wrote our Debt Freedom Plan, we made a commitment to scrutinize our monthly expenses to find money to put towards our plan.
But one thing we didn’t want to do was feel like we were living a life of “lack” or sacrifice. We want to have our cake and eat it too. We want to achieve our financial goals, but still enjoy life.
With some action and planning, my husband and I were able cut $300 out of our monthly budget without feeling too much pain or like we were making a significant sacrifice.
How We Cut $300 from our Monthly Expenses
1. Gym Membership
My husband and I have been members of a fitness facility for most of our marriage. We use the gym, so we’ve never felt like it was a waste of money. Last summer my husband started volunteering at the Y in exchange for a free family membership and now we have all of the benefits of the gym, but not the monthly fee. And his hours at the Y fit into his and our family’s schedule well. To read more about our experience, read How to Get a FREE Gym Membership.
Our Savings: $67 a month or almost $800 a year.
2. Cable TV & Land Line
Last year we decided that it was time to cut the cable cord when our bill increased dramatically. My family was watching way too much addictive cable TV anyway and my husband and I were not happy with the new price, so the decision was very easy. We decided to cut the land line cord too since we both have cell phones. At the time we kept the internet service with that provider, but were recently offered a better price with their competitor, so we are taking advantage of the two year offer.
Cutting cable is definitely a big step, but it you’re ready to take the leap, find out How We Watch Great TV Without Cable.
Our savings: $55 a month or $660 a year.
In 2013, our average monthly grocery spending was $635. I knew I could do better, so in January 2014, I made a commitment to reduce our grocery spending, but not sacrifice the quality of food and meals that I fed my family.
Since January, our average grocery spending has been $450 a month just by being more disciplined and diligent with my planning. For a glimpse at what I buy and what we eat, read How I Spent $425 in March.
For my system, read my 11 Simple Meal Planning Tips.
Our savings: $184 a month.
I’m always looking for new ideas on how to cut back on spending without feeling a major sacrifice to our lifestyle. What have you done? Let us know in the comments.
Photo Credit: Dollars