Feeling relieved that you have managed to find a workable solution to your debt problem? Breathing a deep sigh of relief? You may have noticed that you are now very conscious of literally every penny that comes and goes out of your bank account.
Here are some budget hacks that may seem minuscule on the surface, but you will be surprised at how it will add up by year end!
Go over every bill you receive with a fine-toothed comb.
Each month we receive bills for either credit cards or services. Look at what you are being charged for in-depth. Call the company and ask what each and every one of those entries are for and whether you can eliminate the unnecessary ones. You may have initially set-up your chequeing account with a pay-per-transaction fee to save money but have you checked to see what you are paying now? Maybe the difference between $5 and $35.
Close unused bank accounts and online monthly fees.
Bank accounts continue to accrue monthly fees as do monthly subscription services such as Hootsuite and Grammarly. Check your bank statements to see if there have been transfers to your PayPal account on a regular basis.
Hang dry your clothes.
If you own your own home or have your laundry included in your rent, this isn’t one to worry about. This cutback is for those paying $2.50/load at the laundromat to dry items that do not require it. Shake out and hand smooth before hanging on a clothes rack or the shower rod and you will save a lot by month end.
Remove your credit card from your favourite shopping sites.
Having access to the cards makes it so much easier to give into impulses. Even $.99 downloads will add up over the month. If you absolutely cannot stop, make a budget and stick to it.
Adjust the temperature of your thermostat default settings.
Thermostat’s come with a default setting that tells the heater or air conditioner to start when it reaches a certain temperature. Adjusting yours 5 degrees either way will save you on your annual total and you will find that you are just as comfortable.
Trim your food bill with a grocery list and coupons.
First rule of grocery shopping is do not shop when hungry! Once you have had your snack write a grocery list and watch how your impulse buys are cut down. Coupons will help you buy in bulk and store items that are on sale. Using a grocery list helps you stick to your budget and aid in recognizing the actual price on items. This familiarity will allow you to mentally track a raise in pricing and/or whether the bulk deal is actually better.