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You Need to Make These 5 Budget Tweaks Now

3 Minute Read

What if you could make a few small changes in your budget and see a big difference?

Maybe there are a few items in your spending plan that you could fix or cut out. Doing so can jump-start the process of saving for your emergency fund or pounding away at your debt snowball.

Here are five budget-trimming ideas that you should look at right now.

1. Review all your insurance policies.

Your coverage and rates can change based on where you are in life. If a child is old enough to have their own car insurance or you have a cash value policy that you can ditch in favor of term life, do it.

2. Cut the grocery spending.

Stuff like clipping coupons or buying generic brands may be obvious, but let’s get creative here. Cut your food budget by $25 this month and move that money to another category. That may mean putting back a bag of chips and a container of juice before checking out each week, but it takes less time than cutting coupons! Do you think you could survive by sacrificing two unnecessary items this month? If you do, try slashing another $5 or $10 from the food budget next month to see what additional extras may be eating at your budget.

3. Revisit your cell phone plan.

You may not use as much of your plan as you think. If you can spend half the money for half the data and not notice a difference, then you’re paying too much. You can also explore other carriers, like Ting, which allow customers to pay for what they use. Explore your options!

4. Drop the gym membership.

With the advent of online workouts, like Daily Burn and Beachbody, you don’t even have to leave your house to get a killer workout. Mix it up with a few outdoor runs and you won’t get bored either. Plus, it’s way cheaper than that $50 you’ve been paying to not use your gym membership.

5. Take a look at the kids’ extracurricular activities.

With all of the expenses going into sports, dance classes and so on, it never hurts to examine what you are paying for here. If you are trying to get out of debt, then you may not need to do expensive travel teams. Kids can still enjoy playing for their school or in city teams, and it means more time at home with family and schoolwork.

Related: Are Your Kids Worn Out? 5 Signs You Need to Drop Some Activities

Remember, you know your money better than anyone. Take a closer look at how you spend it. You may discover something you don’t need or use anymore that you can get rid of. That frees up money to go toward your Baby Steps. But you’ll only discover that if you are on top of your money situation. So get to discovering!

Make sure your budget’s working hard with the EveryDollar IOS app. This free budgeting software lets you take control of your spending no matter where you are!


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