How to Keep Your Monthly Bills Low as a Young Couple
In order to save on your bills, consider these five easy tips.
There are so many fun things about being a young couple. You have your whole lives ahead of you filled with so many dreams and aspirations. When you get your first place together you might be surprised at just how much things cost! It can seem overwhelming, and you may wonder how you will cut costs and still have the things you need. In order to save on your bills, consider these five easy tips. It might not take as much effort as you think to take control of your finances.
1. Look at Your Utility Costs
Some of your most expensive monthly bills are likely your utility bills such as electricity, gas and water. When trying to cut back, one of the first places to look is at these costs. Perhaps you can make a long term investment and buy solar panels for your home. Maybe you can turn off the light switch when you leave a room. You might be able to take a shorter shower and cut costs as well. Just a few changes — no matter how big or small — can make a big difference in your monthly bills.
2. Make a Monthly Budget
If you do not know what your spending goals are, how can you know if you are meeting them? The first step of trying to save money is to recognize how much money you should actually be spending. Decide what your monthly spending allowance is, and divide that cost into different categories. You need to know how much you can spend on food, gas, entertainment, clothes and more. When you have a definitive budget you are working with, you can better track how much you spend in a month and what you spend it on.
3. Cut Out Subscriptions
A lot of people sign up for a free trial of a service that turns into a paid subscription after a few days or weeks. You may have fallen prey to this marketing trick and forgotten to cancel any subscriptions you do not need. For example, you may be subscribing to more than one music streaming service. Or, you may be paying for magazines that you throw in the trash and never read. Look at what your monthly recurring expenses are, and cancel anything that is not useful to you.
4. Do Grocery Pickup
Most people spend more than they would like at the grocery store. It can be easy to impulse buy, and unless you carry a calculator around with you in the store, you likely have no idea how much you are spending. Even if you are tallying up every item and see that you have gone over budget, you still have to backtrack and put up individual items. Free grocery pickup from Walmart can help eliminate this. You can easily see how much your total bill is before you make the purchase, so you know how close to your budget you are. If you need to cut back to stay within your allowance, you can easily take items out of your virtual cart.
5. Bundle Your Insurance
Another large expense that you likely incur is insurance. Most people have to pay for home, auto and life insurance, and buying these policies from multiple companies can get expensive. Some insurance companies give you a discount for bundling all of your policies with them, and even a small discount can help you meet your savings goals.
When you are trying to save for the future, it is important that you look at your present spending. There are likely some obvious places that you can cut back. While it does take some willpower and perseverance to reduce your spending, it is often worth it in the end. Sit down with your partner, and see where it makes the most sense to cut costs. While you do not want to deprive yourself, there are definitely some smart and easy ways to live a full life in a frugal way.