Daily life adds up to be really expensive really quickly. From housing costs to food to transportation, before you know it a good chunk of your paycheck is gone after putting it towards everyday expenses. While location makes a huge difference in the cost of living, studies have found that in 20 major cities, the income to live comfortably has increased by at least 23% in the last few years.
Even though the cost of living continues to increase in most cities, there are proven ways to cut costs to keep more money in your pocket. Here are 4 effective ways to save money on everyday expenses.
1. Use Public or Shared Transportation
Driving is quite expensive. Instead of spending hundreds of dollars each month towards parking, gas, maintenance, and insurance costs save money by taking public or shared transportation. The more often you leave your car behind, the more money you’ll save. In fact, depending on where you live, you may be able to rely on public or shared transportation entirely.
From public buses to Uber to carpool services, there’s an endless number of ways to get from point A to B without using a personal vehicle. This is an especially great option if you live and work in a big city.
If public transportation isn’t widely available in your area, carpooling is a great option, even if it’s just to work and back home. Carpooling or even vanpooling allow you to save money on gas and maintenance costs that you’d otherwise spend on your personal vehicle.
2. Cut Entertainment Costs
Reducing your entertainment costs doesn’t mean that life has to be boring. In fact, there are many ways that you can save money on entertainment without feeling like you’re missing out on a good time. An effective way to save money at home on entertainment is to bundle your TV and internet services. By using the same provider for entertainment services at your home, you can save money without losing access to your favorite TV shows or fast internet.
Another way to save money on entertainment is to check out free local events in your area. Chances are there’s a free concert, carnival, or some other event that you and your friends/family can check out without spending too much money. Use social media to see what other people are interested in around your local area and figure out what events interest you the most.
3. Save Money on Prescriptions
Prescriptions can be quite expensive even with insurance. What many people don’t know is that there are ways to cut the cost of prescriptions. One of the easiest options is to ask your doctor for a generic option. Generic medications cost much less than name-brand options.
Another way to save money is to use manufacturer coupons. Some manufacturers even offer free trial packs of their medication. You will also want to discuss your prescription with your doctor to include a potential larger dose or larger supply. Depending on the medication, you can split a larger pill in half to get twice as much out of the prescription. A larger supply will also save you money on deductibles.
Since driving to the pharmacy also costs money, you can cut costs on prescriptions by using an online prescription delivery service. Companies like Medly Pharmacy not only allow you to fill your prescriptions online, you can have your medication delivered to your door the same day. This saves time, money, and keeps you from having to stand in line!
4. Cook At Home More Often
Eating out every so often is nice, but relying on restaurants for a majority of your meals is very costly. To cut your everyday expenses, take time to make your meals and snacks at home. Cook large dinners so that you have leftovers for lunch the next few days. Buy plenty of fruits, vegetables, nuts, and yogurt that are portable and great for snacking.
As you cook at home more often you’ll obviously go through more groceries. To cut the cost of food and other necessities, don’t hesitate to use coupons. You can either clip coupons from the newspaper or use a mobile app that offers e-coupons. By using coupons and buying food items that are on sale, you can save plenty of money each week.
Cooking at home also gives you a chance to perfect recipes and brush up on your skills in the kitchen. Sounds like a true win/win.
Using these tips you can greatly reduce your everyday expenses. This means that your hard earned money will go much farther and last much longer. In turn, you’ll have more money to put into your savings account or retirement.
What are some effective ways that you have found to save money on your everyday expenses? Leave a comment with your thoughts in the section below.