8 Simple Ways I Added $1400 a Month to My Family Budget

Posted in Income, WordPress7 months ago • Written by Jim Daniels6 Comments
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Quick… If you could choose between earning $1400 more per month or cutting $1400 a month from your budget, which would you choose?

Most people go for the extra earnings. But that is the wrong choice by far.

Today I’ll explain why, and show you how I  just added $1400 a month to my family budget, by making a few simple changes…

Meet Roy

This blog isn’t just about making money, it’s about saving money too. Today I’ll show you some clever ways to slash your monthly budget without missing a beat.

Here’s why slashing your monthly budget is even better than adding income…

For every dollar more you make, you get to keep maybe 70 cents after federal and state taxes, if you’re lucky. (If you want to figure out how much you get to keep, use these tax calculators and tools.)

But for every dollar you save, it’s just like earning a whole dollar more.

Think about that for a second.

That means if you managed to cut $1400 a month from your budget like I did, it’s actually just like earning $2000 a month more in income!

That’s right, saving money is much more effective than making more money. That’s exactly why there are so many “thrifty” millionaires!

When I learned this trick I decided to see where I could save and was surprised at how easy it was.

Here are the 8 ways I slashed more than $1,400 a month off of our family budget…

1. I switched my auto insurance to USAA. If you are a veteran, you can take advantage of their lower rates too. I know this may sound like a commercial or a paid endorsement, but it is not. I saved more than I expected by switching.

And if you’re not a veteran, you should still shop your insurance around every few years. You may be surprised at how much you can save. (My total savings $50 a month.)

2. We cut our $160 a month cable TV service and went to WiFi only for $65 a month. We now use a Roku and it is awesome!

On the Roku we added Netflix for $10 a month and Playstation Vue for $35 a month (no playstation console necessary) and we get more channels than ever. Now I can watch my favorites, the Golf Channel and NESN for all the Red Sox and Bruins games. 🙂 (Total savings $50 a month.)

3. I switched my family’s 4 cellphones from AT&T to H20 and still get unlimited minutes and text (with a little less data) on the same cell towers. (Total savings $120 a month.)

4. I moved some of my shopping online. I now order my vitamins, supplements, electronics, household items, etc. at Amazon and ebay at about 25% off retail. (Total savings $100 a month.)

5. I decided to drive a late model vehicle instead of buying a new one every few years and save $500 a month on payments, interest and insurance. (Total savings $500 a month.)

6. We use window fans instead of air conditioning until the real heat comes and save big-time on the electric bill. (Total savings $200 a month.)

7. I use smartphone apps to save money almost daily. My favorites are… StoCard for all my savings cards (the ones I used to attach to my keyring.) SkyScanner for finding the cheapest flights to any destination…. AirBNB to find great places to stay when on vacation (cheaper than hotels and much roomier!)…. GolfNow to get my golf tee-times at 50% off regular prices. (Total savings $300 a month.)

8. Instead of buying premium plugins for my WordPress blog at full price, I use deep discount coupon codes. Here are a few of the plugins I use to get more traffic and income at my sites. (Each page contains a review of the plugin and coupon codes so you can get them at discount.)

Niche Reaper keyword research tool review and coupon code.

Commission Black Ops affiliate marketing strategy review and coupon code.

WordPress Affiliate Plugin review and coupon.

In closing…

I understand you probably can’t use all 8 of these exact strategies. But I bet you can use 5-6 of them easily and save close to $1,000 a month.

Even if you take just a few of these steps it will help your budget.

And remember, the more you save on a regular basis, the less you have to earn to pay the bills.

And that can mean less time working and more time playing!

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6 Comments so far. Feel free to join this conversation.

  1. ed sheeran July 16, 2017 at 7:03 am - Reply

    Pretty! This has been a really wonderful article. Many thanks for supplying these details.

  2. Kellie Thommes May 19, 2017 at 11:53 pm - Reply

    All great ideas! We are no longer making a house payment, as we just paid it off. That’s $1400 month foe us to work with. My car will be next and having purchased a ten year bumper to bumper warranty, future repairs will cost us only $400 per year, which is helpful for budgeting purpose. Finally dropped the land line $35^month. Shipping around for new insurance carrier is always smart as insurance companies steadily increase your premiums, hoping you won’t notice. I’ll be checking into the phone apps $

  3. Tom May 19, 2017 at 11:17 pm - Reply

    What a great article Jim! Thanks for some super tips. You always offer some of the best information on the Internet.

    Have a wonderful weekend!

  4. Bernard Moye May 19, 2017 at 12:02 pm - Reply

    Great tips, Jim. I’ve been doing much the same for awhile now and it has made a big difference in my overall finances.

    One tip that may not apply to everyone but is a really big saver is to eliminate unnecessary monthly auto payments on credit cards. $9.97 may not seem like a lot, but it you have several of them across a few cards, the bleeding can be substantial.

    Have a great weekend!

  5. Ryan May 19, 2017 at 12:01 pm - Reply

    Good article Jim, I really like the no car payment option. We went with this a few years back and never regretted it. I have two late model vehicles, a Chevy Tahoe and Dodge Minivan in the driveway. Both run excellent and I never have to worry about a repo man. With no car payments we are able to put that money towards vacations and fun projects around the house. We’ll never go back to payments again. We also implement everything else you stated above except the smartphone apps. Thanks for the tip, I’ll be looking into those today.

  6. Maria Svrlinga May 19, 2017 at 11:05 am - Reply

    Definitely 1400 off bills.

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