Things I can cut back on to save money
Costs are rising, but my paycheck is not. Time to brainstorm some things that I can cut back on.
I enjoy a nice porter or stout some nights, but it's a luxury I can live without.
After seeing ribeye steak selling for $25 a pound last weekend, I'm going to cut back on beef.
It used to cost about $60 to bring home dinner for my family of 5. Now it costs $90.
4. Unnecessary car trips
Sure, gas prices have come down recently, but remember just a few years back when prices above $3 a gallon seemed ridiculous? How about in 2020 when oil companies were willing to pay people to take their excess oil?
5. Water and electricity
These are small costs in the grand scheme of my household finances, but it's a good time to be mindful and not waste.
6. New books and gadgets
I still haven't fully enjoyed my old books and gadgets yet. It's a good time to go through my backlog and be grateful for what I have instead of wanting more.
7. Subscription services
It's easy to pay for a monthly or yearly service and then forget about it (while continuing to pay for it). I'll have to take stock of all of my subscriptions and evaluate whether I'm getting the full value out of them. I like to think of all subscriptions as if they were one time purchases (i.e. would I pay $186 to have Netflix for a year?).
8. Should I move?
I've been pondering downsizing and moving to a smaller house for years now. Maybe it's time to take these thoughts more seriously.
9. Snacks and junk foods
I singled out beef earlier as an expensive, but unnecessary food, but there are a lot of other foods that I buy that are unnecessary. I could stop buying snacks and junk foods. I would save the money and probably save my health too.
I love travel. I think travel is necessary for a well-rounded life. But when I travel, I travel as a family of five, which gets quite expensive. There are ways to tweak travel to save thousands of dollars. So the solution is not to eliminate travel, but to find ways to make it cheaper.