Outside the Box Ways to Cut Monthly Expenses

Unusual but highly effective ways to save money EVERY month

If you’re looking for ways to lower monthly expenses, you’ve probably seen list after list with the same items. So here are some less common options. They are highly effective and efficient at lowering monthly costs. And several of them lower those fixed monthly expenses, which means that once implemented, you will continue to reap the savings month after month! So a little effort up front can result in magnified savings down the road! Let’s get into it.

Implement these tips and watch your savings grow

1. Lower house and auto insurance

2. Spend less money on clothes

3. Eliminate single use items

4. Lower food costs

5. Water for the win

6. Downsize

1.Lower house and auto insurance to save money

This is actually a huge cost to you. And it’s one you probably don’t think about too often. House insurance is often rolled into mortgage payments, so you don’t even realize how much a month you’re spending on homeowners insurance. According to Forbes, the average American spends $1,678 per year. That’s a lot of money. It’s definitely needed (legally and for peace of mind), but if you’re paying more than the average, or even paying the average, maybe it’s time to shop around and find some insurance that saves you a couple hundred bucks a year. This is a great place to start if you want to look for a more affordable option.

If you think homeowners insurance is crazy, wait until you hear what the average annual cost of a car insurance policy is. It’s $1,547! That’s almost the same as homeowners insurance (but it won’t replace your home). If you are spending more than that on car insurance maybe you should consider finding a better option. This is a great place to start if you’re looking for a more affordable option for car insurance.

Implementing this option will take some time. You’ll have to do some research and figure out which option is best for you and your pocketbook. But over the course of a year and the lifetime of your house or car, taking that time now might save you hundreds and thousands of dollars! Those kind of savings are worth my time, and maybe they’re worth yours as well.

2. Spend less money on clothes

As much as I wish I could live in my pajamas all day, I can’t. And because I can’t, I have to buy clothes, and I have to continually buy clothes as they wear out. But if I’m smarter about my wardrobe I can save a ton of money.

Before I even started my big journey on becoming debt free, I implemented a capsule wardrobe. Which is something you’ve probably heard of. If you haven’t, a capsule wardrobe is a limited number of clothing options that complement each other and can be combined in a multitude of ways so that you have several outfits with just a few select pieces of clothes. As I was purchasing clothes for my capsule wardrobe I spent a little more money getting higher quality items so they wouldn’t wear out as quickly. And I also made sure to not fall for the fad styles, I collected pieces that were classics and therefore wouldn’t go out of style.

And for every article I bought, I got rid of something I already owned. This made me think and rethink my purchases. I had to decide if the new piece of clothing was better than what I was getting rid of. This meant I only purchased the things I truly wanted, things that truly fit into my capsule wardrobe, and things that fit the life I wanted to create.

I’m not suggesting you go out and buy a brand new wardrobe, a brand new capsule wardrobe. What I am suggesting is that as you replace the pieces of clothing you already have, replace them with items that would fit into the capsule wardrobe you envision for your life. And slowly, as you do this, you will have a capsule wardrobe, and if you buy spend a little extra to get higher quality items, your capsule wardrobe will last longer and require fewer replacement pieces.

One more thing to consider when trying to spend less on clothes is how you take care of your clothes. Washing and drying your clothes is very hard on the fabric. Therefore, items that don’t need to be washed after every wear shouldn’t be washed that often. Most of my jeans and other pants I can wear multiple times before they get visibly soiled, and even then they are not smelly. Washing them less means that I’m not replacing these items nearly as quickly, saving myself money. Drying is also hard on your fabrics (and it’s an expensive appliance to run). So if you can utitlize a drying rack or clothes line, you’ll replace your clothes less often and save money on your utitilities…that’s a double win! And definitely a trick I utilize regularly to save on my expenses.

3. Eliminate single use items to reduce monthly costs

Reusable and sustainable products are good for the earth. And not only that, they are good for your wallet. There might be a little upfront cost to get into the reusable things, but once you’re in, you’re good! Save money by avoiding single use items like: K cups, waterbottles, paper towels, sandwich bags, grocery bags, cloth vs cleaning wipes, etc. And not only do you not have to continually buy the single use items, but a lot of single use items are name brand items, go reusable and you’ll save by buying generic and by not having to replace the single use items repeatedly. So this is another win-win option!

4. Lower monthly food costs

There are two main ways to lower your monthly food costs. First, minimize eating out and delivery. Second, lower your grocery bill. This tip is definitely a more common tip, but it’s also something that most households can use and improve their finances. Every couple months I look at my expenses and make some adjustments and then I save MORE money on my food bill. So if you think you’ve already trimmed your food bill as much as it can go, maybe read a few tips and see if there is anything else you can do…

5. Water for the win!

We are fortunate in that we live in a society that values safe tap water. So use your tap water and save money every month. Not only is water good for your wallet, it’s also good for health! All the other drinks, even the healthy ones, tend to be expensive. Coffee, tea, soda, energy drinks, juices…they all add up. So replacing those beverages with water can save you money. And if you’re like the average american, it can save you money every day. Which means that over the course of a month, you will save a hefty chunk of change.

If you don’t like the taste of water, there are multiple filtration options that cost money up front, but in the long run will save you money. Brita and Culligan are two reputatable options if you want to research different ways to filter your water.

6. Downsize

Sometimes it takes a big change to have the outcome you want. If you have already cut all the possible costs and still aren’t where you need or want to be with your monthly income maybe you should consider downsizing.

If you downsize your car you can save money in multiple ways. Your monthly car payment will go down. Your car insurance will go down. Usually a smaller car means better gas mileage. So one decision and the act to follow up can drastically save you money.

And the other big option for downsizing is moving. Can you move to a smaller house? Is a townhome or condo an option for you? Maybe moving into an apartment will work, at least until your finances get sorted. Another thing to think about when downsizing your home is location. Maybe you need to move to an entirely different city or state. Cost of living varies hugely between places, so moving might be the change you need to do to be able reach your financial goals.

There are costs associated with downsizing and moving. But if you run the numbers it might be the best decision for you. Not to mention, that having the peace of mind of living within your means can’t be measured in dollars, but it’s worth it’s weight in gold (goodness, how cliche can I be, but the statement is still true).

Remember, living within your means lets us have the mental and emotional security we need to move from a state of survival to one of living. So making some changes, even if they seem uncomfortable at the time, might be worth it for you.