5 Easy Ways to Lower Your Monthly Expenses From Your Couch

        Side-hustles are all the rage right now. Selling products online. Affiliate marketing. Driving for Uber and/or Lyft. Writing a book or monetizing your blog. There are tons of options and looking for alternative ways to make extra money is great but let’s face it, not everyone has the time to do so. So how can you increase your available cash without an additional source of income? Simple, you lower your monthly expenses.

        I know to some this may seem impossible. But it’s a lot easier than you think. There are lots of ways to lower your monthly expenses but this list is focused on things you can do without making any significant changes in your life, (i.e. moving, selling your car, etc). These are ways/tips you can use to lower your expenses from the comfort of your couch and all you need is your phone.

Cancel Unused Subscriptions - You’re probably thinking of course, this is a no-brainer -- but according to a 2019 GoBankingRates survey thousands of Americans waste an average of $348/year on subscriptions that they aren’t using. This includes streaming and other entertainment services, food and beauty subscriptions, and of course we can’t forget about that good old gym membership.

• I saved $30/month ($360/year) when I cancelled my gym membership that I was no longer using, opting to use free YouTube videos for my workouts or just taking a walk (which is also free).
• I saved another $30/month ($360/year) when I cancelled my LifeLock membership. I initially got it to help protect my identity. Then I was just paying for a piece of mind. Eventually, I was just using it as a way to get my updated credit score which I realized I was getting for free from my bank and TurboTax.
• I opted to get rid of my FunFitFab membership (I only joined because they were running a promotion) and saved myself from spending $50/quarter ($200/year) on beauty items, most of which I never even used.
  

Shop Around for Cheaper Options - I think a lot of us get stuck in a 'set-it and forget-it' type mindset. We sign-up for subscriptions because at that time it’s something that we need (or at least think we do) but then never check-in again to confirm that it’s a service we still need. In some cases it is. So unlike above, I would not suggest cancelling it but I would suggest searching around to see if there are cheaper options available to fulfill that need?

• In my last post, I talked about how I cut the cable and used SlingTV as one of my alternatives. I really liked SlingTV and had it for about two years. However, towards the end I noticed I was no longer watching any of the channels that they had to offer and was only using the service to stream my local news in the morning. Like I said before being about to watch the local news while getting ready for work is a must but I didn’t think it was worth $24.99/month (~$300/year). So I began to shop around and found that I could get my local news with CBS Access for $5.99/month (~$72/ year) Just by taking the time to reevaluate my expenses I saved myself $19/month ($228/year).

Ask for promotions/discounts - This is another option that seems apparent but many people don’t realize or are afraid to ask for promotions. This used to be me. The price was what it was and if it went up, yea I’d groan and complain but for the most part I’d just pay it. It wasn't until the price change on a cable bill (back when I still had cable) went up significantly that I decided to call. When I told the company I planned to cancel the service because the price was too high they transferred the call to the retention department who was actually able to get me a cheaper price. This doesn’t always work but it never hurts to try and generally the company will try to find a way to lower your bill to retain you as a customer.

Bundle services - A lot of insurance companies will offer you a discount by adding additional policies. You can save money by using the same company for your home/renter’s insurance and car insurance.

Cut-back on the use of certain services - I have used meal delivery services in the past -- Hello Fresh, Blue Apron, and my preferred choice (and what I currently use) Sunbasket. But as we all know these services aren’t particularly cheap and can have a huge strain on your wallet. But it is a service I enjoy. I learned new recipes, gained cooking skills, and discovered new foods that I like that I would have never thought to buy from the grocery store. However, knowing the cost involved I decided to opt to only get deliveries every 4 to 6 weeks. Helping me save money while not having to completely deprive myself of something that I like.

Hopefully, you are able to use some of all of these suggestions to help lower your monthly expenses. As I stated before there are tons of ways to do this. If you have one that you use to help keep your expenses low, please share below. I'd love to hear about it!

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