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Step 1
Look at your recurring payments. Monthly charges for things like extra cell phones, magazines, video rental subscriptions, and services should be considered. For example, some people budget $50 a month for fitness center memberships, yet haven't worked up a sweat since last January. That adds up to more than $600 a year. Do you really use those items each month?
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Step 2
Cut back on large expenses. Often you hear advice to cut back on the little expenses like eating out. Look instead at the large expenses you are thinking about. Planning to buy new golf clubs? Perhaps a plasma television? Instead of using the drinking fountain as a substitute for your daily soda (year savings= $179), try to keep your regular television as a substitute for a plasma (year savings= $1,200).
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Step 3
Lower your bills. Call your cable provider, cell phone carrier, or credit card company and let them know you are looking to cut costs in your budget. They know exactly what you use and what you don't use and they can suggest services to reduce or bundle. For example, your cell phone carrier can usually change your plan to a more affordable one based on your minutes usage.
Comments
aundybkoo said
on 12/4/2008 I like your ideas but cutting down on soda also helps your health which can cut health care costs in the long run ;) Step three is a really good idea! Thanks ;)
Dramora said
on 12/4/2008 If you are looking into this, here's another article that might be helpfull:
http://www.ehow.com/how_4662755_annoying-monthly-charges-credit-card.html