8 Ways We Slashed $1400 a Month from Our Family Budget
Before I tell you exactly how we cut $1400 a month from my family budget, I need to ask you an important question…
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.
For every dollar more you make, you get to keep maybe seventy cents after taxes and such, if you’re lucky.
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 a few years back 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 all my insurance (home, auto, life) to one carrier. (Total savings $50 a month.)
2. We cut our cable TV service and went to WiFi only. We now use a Roku with Hulu for on demand TV and we love it! (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 (but less data) on the same cell towers. (Total savings $120 a month.)
4. 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 $300 a month.)
7. I get my golf tee-times through my GolfNow app, for as much as 50% off regular prices. I also buy used golf balls and golf clubs instead of brand new on ebay. (Total savings $200 a month.)
8. Instead of buying premium plugins for my WordPress at full price, I use deep discount coupon codes. Here are a few of the plugins I use and recommend. They will help you get more traffic and income at your sites. Each page contains a review of the plugin and coupon codes so you can get them at discount.
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!