Have you ever been in a situation where you received your paycheck from your job and was so excited only to find out that after paying all your bills you had ZERO dollars left?
Trust me, I know how that feels. Lets just say, this isn't the greatest feeling in the world. You work so hard for 8 hours a day, Monday through Friday, only to find out that you dont have anything left over; or worse, you dont have enough to cover even your bills?
Well, im here to help you! I was able to successfully get out of this vicious cycle and I want to tell you how. There are little things you can implement in your daily lives that will help you have more money at the end of the month. Here are 9 ways to find more money in your monthly budget:
1. Evaluate your fixed expenses
Obviously “fixed” doesn’t sound too promising, but there’s still no harm in trying to find flexibility in your monthly expenses. If you’re renting, you may be able to negotiate your rent down or find ways to get better deals on things you don’t even think about very often like car insurance.
Also, take some time and evaluate if you are overspending on your living expenses (i.e. living somewhere that is larger or more expensive than what you really need).
2. Share meals at restaurants
If you’ve already cut back on your restaurant trips but want to save even more without totally abstaining, start sharing a meal!
We all already know that portions are out of control, so why not just ask the waiter for two plates and split something? Another little trick my husband and I use is to order one appetizer and one meal.
3. Consider finding lower interest rates before they rise
The Fed has been slowing raising interest rates, which I can tell you is starting to make refinance companies a little bit nervous. If you’re still working on debt that’s higher than 3-4%, you may want to take a look at refinancing now while rates are still very low.
If you’re considering a refinance on federal student loans, just understand that you will not have access to federal benefits anymore. That might not be *that* big of a deal though – many people are surprised to find out that they don’t even qualify for them.
4. Cut out monthly services you don’t need
A lot of people are guilty of getting roped into some service that they don’t really use very much after getting the free trial *cough Amazon Prime cough*. This could also include Spodify, Netflix, Cosmetic services, etc.
While I am starting to see some companies pop up that offer to get rid of those unnecessary services for you, it’s just as easy to set a recurring reminder on your phone to look over your checking account/credit card bill every month and cut things out as needed.
5. Eat more veggies
Not much to say here. Vegetables (in general unless you’re super fancy) are cheaper than meat. I’m not advocating for you to become a vegetarian or anything like that, but there are plenty of awesome recipes out there that can actually make veggies taste good.
I was a vegetarian before I met my husband for almost 8 years and my grocery bill was definitely much less than what we are spending now. If you are an absolute meat lover try Meatless Mondays. One day a week push yourself to eat a vegetarian meal. Your wallet will thank you for it.
6. Make your clothes last longer
There are so many genius hacks you can use to make your clothes last longer.
You can at least do some easy things to make your clothes stretch a little longer by washing them on gentle and air drying or using a detergent that protects colors.
7. Learn how to negotiate
In my opinion, you should assume everything in life can be had for a lower price until you’re told no.
I can’t tell you how many times I’ve saved money just by asking, even if it seemed a little obnoxious at the time. There’s always a 50/50 chance that whoever you’re buying something from will say yes.
And if they don’t or get annoyed, who cares? You’ll probably never see them again anyway.
8. Is your energy bill too high?
Chances are, yes. Energy costs are specifically a big culprit here, and many times they can be lowered with a few phone calls. Double check what you are paying for energy in your home and see if you can find a better rate. Even one or two cents less per kilowatt hour can mean huge cuts in your energy bill.
Also, make sure you turn the lights off when you leave, opt for energy efficient light bulbs, and find areas where air may be moving in or out of your living space where it shouldn’t be.
9. Start a side-hustle
Look – there are only two basic ways to be great at personal finance. You can either spend less or make more. If you can do both, you’re a financial rock star.
A lot of Proluxx readers have told me that they’ve cut out as much as they possibly could from their budget. If that’s the case, you’ve got to get started on a side-hustle.
I will repeat this till the day I stop running this site: Your side hustle does not have to be complicated. There are so many ways to make extra money out there…you just have to pick one and get started. Read this and see if any of them are a good fit.
Hello and Welcome! Proluxx is a Finance, Budgeting, and Self Development blog. Our mission is to educate, motivate, and inspire as many individuals to gain financial peace and financial freedom through budgeting, investing, and side businesses. Hope you enjoy our content and leave a comment even if it is just to say hello!