4 Easy Ways to Trim Down Your Budget


Times are tough, and most of us start off a brand new year looking to make positive changes in our financial lives. Nobody likes living paycheck to paycheck, but we don’t all have the time to start a side-hustle to bring in extra income.

If we can’t bring in any extra money, the only option we have is to cut down on our spending. This can be tough too! But there are plenty of small changes you can make that will build up and leave a nice extra sum in your bank account each month that you can save, invest or enjoy at a later stage.

Cut Down Unnecessary Expenses

Looking at your budget, you might think that everything there is important and can’t be removed. However, removing things from your budget completely isn’t the only choice you have here. You can also look into reducing certain costs.

For example, you can look at cheap car insurance that still meets your cover needs, reduce your energy bill by being more mindful, reduce what you spend on groceries by planning your meals and making sure not to waste food, and even downscaling your living to save money on rent.

Cancel Subscriptions

Do you really need three different streaming services taking money out of your account each month? What about that gym membership you used last January and never again? Or the subscription to the meditation app you completely forgot about?

If the subscriptions you pay for are truly useful and add value to your life, there’s nothing wrong with paying for them. However, most of us have at least one active subscription that we barely use or aren’t even aware is still costing us money. Take a look through your bank transactions and pinpoint deductions coming from unnecessary subscriptions and click unsubscribe immediately!

Cook at Home More

You might think that food is food, but getting takeout and eating at restaurants could be costing you a whole lot more than you realise. Committing to cooking at home at least five nights a week could save you major bucks and upgrade your cooking skills too.

This rule applies to regular meals, but it could also be used in terms of socialising. Every drink and meeting with friends doesn’t have to involve hitting a bar or restaurant. Entertaining people in your home rather than out, whether it’s for a quick cup of coffee or a midweek dinner, is far more affordable for everyone involved – your friends might thank you.

Take a Walk

Gas is expensive and as a matter of fact, so is public transport. While sometimes, these modes of travel as unavoidable, it’s a good idea to choose to walk when you can.

Simply choosing to walk to the grocery store or the gym instead of driving a few times a week might seem insignificant but the miles will add up and your bank account and the planet will both thank you for it.