Property Management Blog

Saving Money on Monthly Expenses - Part II

A continuation from our last blog for those of you looking to save money on your monthly expenses.

1. Reducing your entertainment expenses is a good place to start. There are many options for low cost entertainment. 

  1. Cancel unused club memberships such as gym and country clubs. 
  2. Reduce or eliminate your cable bill. Perhaps downgrade to basic cable or switch to online services such as Netfilx, Hulu or Amazon Prime.
  3. Check out local free options like the local library or community events, festivals and fairs.
  4. Cancel magazine and newspaper subscriptions. You can find many of the same information at your local library or online.

2. Saving money on food expenses

  1. Cook large meals and freeze leftovers for later when you do not have time to cook.
  2. Cut back or eliminate eating out. While carryout and eating out saves time, it comes a great expense. Cook several meals in your free time and freeze for quick meals later.

3. Use coupons and buy in bulk when you can. Typically buying a larger quantity of items results in paying less per unit. This is a great option for non-perishable items.

4. Start a garden. Even if you are limited on space, there are many plants you can grow in containers on a patio.

5. Cut your insurance bills by downgrading your health insurance and shopping around for the best rates for Auto and Home insurance.

6. Another high cost item is childrens organized activities/sports. Be sure to check the total expense before signing up and limit each child to one activity at a time. 

7. Cut back on grooming expenses. Instead of having your hair and nails done weekly, cut back to every other week. Maybe even find a few friends and have manicure parties at home.