6 Things You Can Eliminate From Your Budget
Have you ever wondered how your successful friends never seem to be strapped for cash? Have you ever wished that you could start your financial journey again from scratch?
Everyone is different, and everybody is dealing with different circumstances that can determine how profitable each of us is. But that doesn’t mean you can’t strive to be as money-wise and financially secure as the people you look up to.
New Era Debt Solutions reveals 6 easy things you can give up that will help you invest more into your future:
1. Shopping stimuli
Are you bombarded by retailers’ promotional emails? When you’re scrolling through social media, are you tempted to click the “Buy Now!” button on the shoes or purse you’ve been eyeing? Unsubscribe from any shopping-related email newsletters and unfollow any retailers on social media. This doesn’t have to be a permanent solution, just until you get a better handle on your shopping habits.
2. Wants (vs. needs)
But what if you’ve already paid off your bills and unsecured debts? Surely now it’s okay to use the leftover money towards something to treat yourself…right? Wrong. Make a list of all the things you think you need to buy. When you read through it, you’ll probably come to find that most of the items on your list are wants, rather than needs. Of course, that doesn’t mean you can never buy something nice for yourself but you must limit how much you spend on your wants, lest you’re left with no funds to put towards your actual needs.
3. Private transportation
This may not be an option for everyone but if you have a long work commute, it may pay off to buy a rail pass than spend that money on gas every week. Think about it – you’ll not only be saving money on trips to the gas station but also car maintenance expenses and parking meter fees as well. If you’re not ready to fully commit to public transportation just yet, you can carpool to work with your colleagues.
4. Unnecessary energy bills
Did you know that the average household shells out more than $2,000 every year on energy bills? Consider going green to save green. Research the potential savings of replacing your bulbs with LED lights. You can also unplug your electrical devices when you’re not using them and lower the temperature of your hot water when you shower or wash dishes.
5. Costly health insurance plan
Don’t nix health insurance from your life. But what you can do is reduce your insurance costs by looking into another plan. A high deductible health insurance plan with a lower monthly premium is one good option for those who are fairly healthy and don’t need to visit the doctor’s office often.
6. Hired help
If vacuuming is a foreign concept to you, it’s best to learn the ropes now. Same for yard work and childcare. Stop outsourcing housecleaning and other household services or at the very least, research cheaper options. If you can swap the nanny for a less expensive babysitter, do so. And don’t be afraid to recruit your children to complete basic household chores.
New Era Debt Solutions has settled a quarter of a billion dollars of debt since 1999 and wants you to be our next success story. If you need assistance achieving financial freedom, contact one of our friendly counselors at New Era Debt Solutions to learn more about finding the debt relief option that best fits your needs and budget. Our counselors are with you every step of the way.
