Nine costs to cut immediately for healthier finances

<p><strong>I</strong>t’s easy for all of us to do. Our spending falls into regular rhythms and habits. We don’t feel like we’re out of control. After all, none of us lives like we’re Kardashians. We’re just average Midwesterners, making ends meet. But, at the end of the month, it seems like we’ll never get ahead. Is it truly possible to reach for money goals and live a life with breathing space?</p><p>The most dangerous seven words for your financial future are as follows, “We’re already doing everything we can.” The more you say things like this, the more true it becomes. I know because I’ve been there, too.</p><p>Instead of limiting your view and seeing only the impossible, I want to challenge you to begin looking at your spending with outside eyes. What would you tell someone else in your situation? Would you agree that there’s no hope? Or would you get down to business evaluating what might be holding them back? Most of us would choose encouragement over discouragement.</p><p>It may be challenging to scale back your lifestyle or even visualize your potential for change. As you begin taking small steps toward healthier finances, consider cutting these costs first.</p><p>1. Subscriptions</p><p>Pause for a minute and consider how many services you subscribe to. Once reserved primarily for magazines and the fruit of the month, the subscription industry has grown by leaps and bounds in the last decade. We have online subscriptions for music and video streaming. There are subscriptions for clothing, books, wine and even razors. You can subscribe to “save” money by having a membership or get free shipping perks. Or you can have boxes of food delivered to your home to help you cook meals there.</p><p>Some of us aren’t satisfied with only one subscription either. We subscribe to Hulu and Netflix or Amazon Music and Spotify. These monthly charges add up quickly.</p><p>2. Cable</p><p>It’s time to cut the cord. I know, I know. This is not the most popular choice to make for your household. But more than likely, this is the first area where you can begin to get some leverage quickly. If you can’t bring yourself to completely dump your current service, at least scale back.</p><p>Many companies offer what they deem the “Poverty Package” or “Poor Man’s Package” which gives you the most basic local channels. Or you could even purchase or build your own digital antenna to pull those in for free.</p><p>Cutting cable doesn’t just free up extra cash each month. It also eliminates a crucial distraction keeping you from working or managing what you have well. You’ll gain breathing space in more ways than one.</p><p>3. Memberships</p><p>Like subscriptions, memberships depend upon a monthly auto draft of fees from your account. Whether you belong to the gym or a warehouse store, your memberships might be unnecessary and costing you more than they save. Sift through your monthly finances to look for memberships you can eliminate completely or even just for a season.</p><p>4. Dryer sheets or liquid softeners</p><p>Small costs add up. Rethinking our household maintenance systems always proves effective when trying to reduce regular spending. Consider replacing dryer sheets with reusable plastic or wool balls. Your clothes won’t have static and you’ll make only one upfront purchase.</p><p>Use a liquid softener? Try swapping your regular brand with white vinegar. I promise you won’t smell like an Easter egg and your laundry will benefit from this household elixir’s cleaning power.</p><p>5. Unhealthy habits</p><p>Smoking, candy splurges, a large sugary drink from the gas station or drive through — we all have unhealthy habits. These habits cost money and keep us from achieving our goals. Think through what traps you may fall into on a regular basis.</p><p>6. Friends who spend</p><p>I had a friend in college who I loved dearly. But when I spent time with her, I usually ended up spending a lot of money, too. In the end, I couldn’t keep up with her company and my bills. So I made the difficult decision to spend less and less time with her. It didn’t mean I loved her any less, just that I knew I would be weak when we logged hours together.</p><p>This choice isn’t as easy as ditching cable. After all, friendships are built on much more than a desire to watch the newest reality show. However, research shows, we reflect the habits of our five closest connections.</p><p>You’ll want to think hard and long about how you can shape your relationship, building it on more than just spending money. Begin planning quality time that doesn’t require cash.</p><p>7. Dining out</p><p>In the last two years, Americans crossed a new threshold. Most now spend more money at restaurants than they do at grocery stores.</p><p>Before you begin thinking I live a miserly, spendthrift life, I LOVE going out to eat. But I also recognize that choosing to eat food this way costs substantially more than preparing meals for myself in my own kitchen.</p><p>Rather than eliminating all restaurants from your budget, consider cutting back to dining out once a week. Put the experience on your meal plan and calendar. Choose a destination in advance. Do research on the menu.</p><p>8. Paper goods</p><p>Those everyday items we purchase on a regular basis, such as paper plates, cups, napkins and paper towels, sometimes fall into the luxury status rather than necessity.</p><p>While we were paying off debt, we rarely purchased these items. Going without did mean more work for me, such as washing dishes and keeping clean reusable towels at hand. However, we save plenty of cash to put toward our debt dragon.</p><p>9. Brand name items</p><p>Whether you’re purchasing graham crackers or jeans, it’s tempting to place more value on name brand items over generic goods. Buying more store products over brand names will give you leverage each time you shop. The brand name usually has a fictional worth placed upon it. Branch out and begin choosing the store line over the brand. You may find you actually like it more than your original purchase.</p><p>Getting ahead with your money requires you to look at your finances through a different lens. Lay down habits of the past and take up new behaviors. Quit telling yourself you’ll never get ahead or that creating breathing space in your budget is impossible. Reach beyond these nine costs to find even more. Once you taste success, you’ll want more. Before you know it, you’ll sleep better at night and begin to achieve what you once didn’t think possible.</p>