2. Cut the cable cord. Many people are spending well in excess of $100 a month on cable television that gives them 500 different channels. Out of all those channels, most people watch 10 to 15. Instead of having a cable bill, use over the air stations you receive for free. Add a streaming service and you will never miss cable. Without cable, you can go back to an old, reliable method of entertainment—talking to one another.
3. Get rid of credit cards. Credit cards are nice. They allow people to buy things they otherwise could not afford and pay for it over time. They also become a burden that drags many people down each month. Instead of using credit cards, only buy what you can afford. Stick to that plan and the fear of not being able to pay the bills will quickly disappear.
4. Declutter the home. A search around the home will find many things that are not needed, or are no longer used. Find different ways to get rid of the things that are no longer necessary. It is even possible to make some money selling these things that can be used to help in other areas, such as paying off credit card debt.
5. Get rid of monthly expenses that are not needed. Many people are paying for gym memberships, mobile internet service, and many other monthly services they barely use. They have often put the monthly payments on their credit card so they do not even realize how much they are spending and not using.
There are often ways to get the same things that you get from these pay services without having to pay. Gym memberships can be replaced with exercising at a local park or walking around the neighborhood. If you need internet service away from home, look for Wi-Fi hot spots. They are found at many restaurants, hotels, and coffee shops. It might take effort to do this at first, but once it becomes a habit, it is easy to do.
6. Start to track your expenses. One thing people will benefit from doing is tracking the money they spend. It is the best way to find out when you are spending money and what you are spending it on. It is possible you will find you are spending a lot of money you don’t need to. You may find that second car is an expense you may not need. You could take public transportation to work and get by without a second car and all of its headaches. When you realize that, it becomes possible to make changes.