Generating income may not be a difficult task if tried for, but you will not be able to build up your wealth if you don't have wise spending habits. Frugality is not just a way of life; it is also a state of mind! If you want to save money, you will have to find out those money leaks and adjust as per requirement. It is your mindset which will help you in saving money without becoming too much of a thrifty. You should always remember that it's the recurring expenses that take away a large sum of our income. So, if you could eliminate those recurring expenses to some extent, chances of saving money will become higher.
Recurring bills that you can cut every month
Let's take a look at some of recurring bills which you may be able to cut if you plan in a better way.
Home phones: All of us have a set or two of cell phones and hardly use a home phone. So, a home phone is not have much of a requirement. It may sit at one corner of your house and you have to pay a certain sum every month because of it. You can simply do away with it. It will help you save a certain amount every month.
Cell phones: Though cell phones are a necessity these days, it digs a hole in your pocket every month. As you can't get rid of it, you should take steps to cut the bill. You can check out various pre-paid and post-paid plans with different service providers and chose the one that suits your purpose and doesn't cost you much.
Gym membership: Most of us have enrolled in a gym and pay for it every month. But how many times in a month do you visit the gym? Due to our hectic work schedules, we hardly get time to visit the gym. If you're really concerned about your fitness and want to avoid gym membership fee every month, try jogging every morning. You can run in the parks, beaches or even on the road.
Car washing: It can be understood that oil changes and other car maintenance work may not be your cup of tea but you can wash your car on your own. You will require car soap, sponge or terry cloth rags and a hose pipe in order to wash your car. This can be easily done in the weekend and won't take much of your time.
Subscriptions: You may have subscribed for different newsletters, magazines, clubs, etc. May be you hardly visit that particular club or you hardly get time to read those newsletter or magazines. In such a situation, you can withdraw the subscription so that you don't have to pay money for that. This will, once again, help you save a certain sum of money every month.
Electricity: If you're planning to save money, then control your electricity usage. This does not mean that you will have to live in the dark. As you may have heard earlier, you should turn off the lights and electronics when you're not using it, dial down the water heater to 112 degrees, open the windows instead of using A/C, etc. This will lower your electricity bills and save your money.
If you can follow the above mentioned tips diligently, then you will be able to save quite a lump-sum amount every month.
SB is associated with various online finance related Communities. He has also made notable contributions through various articles written on different subjects related to the debt industry. He has a good knowledge on Personal Finance, frugality, saving etc. You can visit http://www.ovlg.com/.