It’s entirely possible to earn more money by cutting expenses.
I have heard from so many people that are unhappy with their current financial situation. Do you know what they always think they need? More money. But, from my viewpoint, their financial woes are typically due to an expense problem, not an income problem. If you find that you’re bringing in less than you’re earning each month, sometimes the best way to correct the problem is to cut out some of your unnecessary expenses.
Get Rid of Your Smartphone to Earn More Money
My friend is really trying to correct her financial situation, and I commend her for that, but she is still blind to many of the expenses that could easily be corrected and bring her back into the black each month. Her biggest stumbling block (in my opinion) is her iPhone5 that costs her $112 a month. She told me that she WILL NOT switch plans because she doesn’t want to lose her unlimited data plan.
First of all, how many of us really need data plans? I bet if we really had to, we could all survive on a track phone and buy prepaid minutes. Sure, it would suck for a while, but it would save us about $100 a month, which translates into $1,200 a year. That’s a serious chunk of change!
If you really can’t do without texting or the data plan, there are other providers that might work in your area. Sure, you might not be able to get the most awesome phone on the market, but you’ll be paying $55 a month instead of $112. That’s a huge difference.
How Many Songs Do You Have On iTunes? Cut That Expense!
Apple is a brilliant company. They understand that people might stop for a moment to think about paying $15 for an entire disc of music, but when songs are just 99 cents, who cares? It’s practically nothing compared to our income, right? But, when you look through your playlist and discover that you have 1,000 songs, guess what, you’ve paid $1,000 for that list!
You know what I do instead? I listen to Pandora, it’s free and I hear most of the songs that I want because I just make a genre that caters to what I want to hear. If I really want to hear a specific song, I just pull up YouTube. I can listen to every single song that you can and it cost me $0 vs. your $1,000.
Eat At Home to Cut a Huge Expense & Earn More
Yes, I get it, making meals takes time and it’s not that fun. But, on average, it costs about 30% of what it would if you went out to eat! You could make a large batch of chicken or fish at the beginning of the week, keep the leftovers in the refrigerator , and eat for cheap while saving time in the process!
Find Your Unnecessary Expenses
No matter who you are, I’m sure you have expenses that could be cut out of your spending. We may think of them as necessities, but when you look at them with an objective mindset, you’ll soon realize that they’re actually just luxuries that you thought you needed, but don’t.
Have you earned more money by cutting expenses?