If a treasure chest full of money were hidden in your home, would you look for it? Undoubtedly. Well, here’s some good news: There is a treasure chest! Sort of. It may not be a physical treasure chest, but there are probably costs that could be cut from your monthly spending. For example, you might be holding onto an old way of doing things that’s costing you more money since it’s easy and comfortable, or maybe you simply weren’t aware of any alternatives. Here are some ways to cut costs in monthly spending from telecom and other areas:
1) Email service: Although there are valid reasons to pay for email, you can probably get by just fine with a free email service, such as Thunderbird. Gmail and Yahoo can be a great free option that is also easy to use. Even if you want to keep your AOL account, you can do so for free now, too.
2) Cable TV service: Be honest: How many TV channels do you really watch out of the “500” that you have? Five? Eight? Instead of paying high monthly costs for cable television, consider switching to Basic Cable. Or, switch to an on-demand television provider such as Netflix or Hulu Plus, or to a media-streaming device such as Google Chromecast; not only are these options cheaper, but you’ll also get shows that aren’t available on cable TV.
3) Home phone service: According to a study conducted by the Pew Research Center, 91 percent of American adults have cell phones. Although almost everybody has a cell phone, research by HuffPollster found that 59 percent of American households still have landline phones. Instead of paying for both, you may want to consider cancelling your landline home phone and using only your cell phone, to cut costs. Before you do, however, check out the pros and cons of doing so.
4) Self-storage rentals: Renting a self-storage unit can be an ideal solution while moving to another home or doing a major downsizing, or if you have more possessions than available space at home for keeping them. However, how many of us really need an entire storage unit in addition to our home? Consider cleaning out your attic or garage or a closet to make room for the items currently housed in a storage unit. You also could have a tag sale for any of the items you deem unneeded, bringing you further savings.
What other ways to cut costs in your personal budget are you aware of? Share them with us on Facebook.