If you are trying to save money, cutting out a few monthly expenses can make a big difference. Here are 12 household expenses you should cut in 2023.
Are you drowning in debt? Or perhaps you just want a little extra money to set aside. There are all sorts of reasons to want to make household cutbacks, but it can be overwhelming to decide which expenses to let go of. You can make a huge difference to your household finances by making the right cuts, and freeing yourself of financial burdens you no longer need. Look below at these 12 household expenses you should cut in 2021, and see how financial freedom isn’t that far behind!
12 Household Expenses You Should Cut in 2023
1. Cancel traditional cable.
When it comes to television options, you have so many choices these days. You no longer have to settle for pricey cable bills. Instead, evaluate your needs and see if less expensive options such as Roku, Hulu, Amazon Digital Services, or Sling are right for you. Here are 4 low-cost alternatives to cable.
Be careful not to end up spending more on streaming services than you were spending on cable. Pick one that best matches your family’s needs and delete the rest.
2. Cut out credit cards with annual fees.
Credit card interest is already tough enough on your budget. If you are still using a card with an annual fee, this is one of the first household expenses you should cut. Instead, move the balance to another card with a low-interest rate and no fee. Then, cut the card up and close the account. Here are ways to stop using credit cards and here are tips for paying off your credit card debt.
3. Stop housekeeping services.
Don’t pay hefty hourly fees for a housekeeper or maid service. Instead, make a monthly calendar that assigns a few cleaning tasks a week. Complete these tasks yourself and you will not only save money but feel a sense of accomplishment. How to create a cleaning schedule that works for your family.
4. Cut out meal delivery services.
Yes, these meal subscription boxes are fun, but you are paying a lot for the convenience of them. Instead, find similar recipes online and buy the ingredients yourself. This is a great way to try new meals without paying the hefty box subscription fees. Or check your local grocery store for meal boxes. Many have them now and it allows you to pick up a prepped meal when you are really crunched for time without having to have a regular subscription. If you want to cook from scratch without meal boxes, here are tips for finding time to meal prep at home.
5. Stop eating out.
Whether it is stopping for coffee, picking up lunch, or eating dinner out, the cost adds up fast. Go through your bank and credit card statements. You will be shocked to see how much you are spending on eating out each month. One of my friends found that she and her husband were spending $800 a month eating out.
Make coffee at home and take it in a travel mug to work. Either buy creamer or make your own flavored creamers, so you can still enjoy your favorite coffee-house drink. My husband likes to drink coffee at work, so he keeps his favorite French Vanilla Creamer in the work refrigerator.
Pack your lunch! This is a huge money saver. Plus if you use leftovers in your lunch it will cut down on food waste. Here are easy ways to meal prep lunches.
6. Cut back on electricity and natural gas usage.
Utility prices have skyrocketed over the last 2 years! However, you CAN lower your electric bill with a little effort. Make sure you are using energy-efficient light bulbs and appliances. Use automated timers to shut off lights and electronics when not in use. Unplug items when not in use, and make sure the family is more aware of their usage. Every bit helps. Here are some easy ways to save money on your electric bill.
Natural Gas prices have gone up even more than electricity recently. Make sure you lower your thermostat at night when you are sleeping. Bonus: Studies have shown that sleeping in cooler temperatures may improve your sleep. Lower your thermostat when no one is home. There is no reason to heat an empty house. Wear more layers when you are home, so you can lower the thermostat a bit even when you are home. Close off unused rooms. Close the flew to rooms you don’t use and then close the door so the room doesn’t draw heat from the rest of the house. Make sure you don’t have leaks around windows and doors letting in cold air. If you do, seal the leaks. Here are more Easy Ways to Save on Your Gas Bill in the Winter.
7. Cut back on water usage.
We are starting to hear of areas that are charging a fine for using too much water. Hopefully, you are not impacted, but whether you are or not, you can save money by reducing your water usage. Place a timer in the bathroom for showers and make sure all leaks are fixed. Wash clothing and dishes only when you have a full load. These are simple fixes that are sure to reflect on your water bill. Here are 5 ways to conserve water.
8. Skip lawn care services.
The cost of lawn care can add up! With so many tutorials online, anyone can provide their own quality lawn care. Let go of your pricey landscaping services and try the DIY approach, or hire a high school student to help you out for a fraction of the cost of a lawn service. If you don’t have all of the yard equipment you need to care for your yard, consider borrowing from a neighbor and then lend them something that you have, but they don’t.
9. Stop newspaper and magazine delivery.
With everything available online these days, paying for these newspaper and magazine subscriptions can be another expense you just don’t need. Go paperless and you will cut back on expenses and paper waste at the same time. Do you like to hold a magazine in your hands? Then borrow magazines and newspapers from your local library.
10. Paper products.
Going paperless is an easy way to cut back household expenses. Try letting go of household paper products like paper towels, plastic baggies, and napkins. By using cloth and reusable versions you can not only reduce waste but save money too. Here are 7 ways to use fewer paper products.
11. Cut your landline phone.
Weigh the pros and cons of using a landline phone and see if you really need one. With cell phone plans being so cheap these days, many families are dropping their landlines and opting for cell service instead. If you feel you need a landline, then do some comparison shopping, there may be a lower-priced plan that will work for you.
12. Cancel unused Memberships and Subscriptions
Do you have memberships or subscriptions that you aren’t using? Have you forgotten about the cost because they are on autopay? Cancel those unused items now. $19.99 a month may not seem like much, and since it is on autopay, you might not even think about it, but that adds up to $239.88 a year. Several unused memberships or subscription services can quickly add up to over a thousand dollars of wasted money each year.
Cutting your household expenses in the New Year can be easy and profitable. Weigh some of these options and see if a few aren’t ideal for you and your household.