2016 was critically hard for us financially because we bought a new house and we were still paying the mortgage of the old house. It was really tight, I was stressed out but when we sold our old house, we were okay. 2017 was a better year, I was able to save all of my blogging income and also set aside some amount from hubby's salary. He did not know that I have saved almost 10 grand so before the end of the year last year, we paid off the car loan we had for his sports car. The interest on that car loan was 6.99% and it kills me paying the interest every month. I am so glad we were able to pay it off before 2018 started.
This year, we have made some changes so that we can cut cost and save some money for emergencies and rainy days. I was encouraging my husband that we should cut our cable off last year but he did not buy the idea of not having TV but I am so glad that this year, he finally got on board with me. It's nice having cable but the cost is getting so expensive and we don't even use it all the time. With all the garbage shows you see on TV these days, I lost interest in watching. We were paying $233 every month for a bundle of phone, cable and internet every month last year and for me that was too much. So we decided to cut our landline phone and cable which saves us $130 each month. We also bought our own modem for the internet which also saves $11 a month.
We cut our contract with AT&T for the cellphones and switched to Metro PCS. For 4 lines, we only pay $106 every month and there's no contract. We decided to get our children cellphones because they are at the age where they go places and we would love to be able to keep track on them when they are not with us. However, I made them signed a contract that cellphones are not free, therefore, they will have to be responsible in taking care of it and that they have to do their part to regularly help around the house when they are not in school. It works great because, I don't have to tell them to do things now, they do it voluntarily without buts or ifs. With the switch, we were able to get new phones for the 4 of us for less than what it would cost if we added two new lines with our former contract with AT&T.
Another saving strategy that we incorporated this year is selling unwanted things that are just laying around the house. So far, I have rid of a lot of things and put that money into our savings for the kids school tuition next school year.
The following strategies works for us and it might work for you.
Pulling the plug on cable and landline phone. If you want to watch movies on TV, you can subscribe to Netflix, that's what we did. They gave us a month free and I think we are going to keep it. It only cost $7.99 a month, a lot better than cable cost.
If you want to watch local news, you can buy an indoor HDTV antenna that you can connect to your TV, that's what we did, it only cost $19.99.
Buying your own internet modem. Comcast charges $11 a month for modem, if you buy your own, it cost $50 and you don't have to keep paying for something that isn't your own.
Sell things that you no longer use, I know a lot of us has a lot of these things laying around the house. Gifts that we received but never used are common things.
Cook your own food at home rather than going to a fast food chain. It is healthier and it is cheaper plus you spend quality time together in the dinner table, it's a great bonding time with the family. We still go out once in a while but it is just on special occasion. I cook almost everyday and we eat together and get to have time to catch up and communicate with each other.
Instead of Paying for a Gym Membership, try to set up a home gym. You will save in the long run doing this and the whole family can benefit and use it anytime of the day. Staying active helps the family to stay healthy and away from sickness.
Our HomeGym |
Our goal is to pay extra hundred dollars with our mortgage payment every month so that we can pay it off early. Hopefully, we can achieve this sooner so that my husband can retire and we can be debt-free. I know that's a long shot but every little changes we do can help achieve that.
21 valuable thoughts they wrote, what's yours?:
Beautiful pictures, quality post and that food looks very yummy!
I'd like your ideas about saving money at the same time you enjoy what you have in alternative of what you have planned.
I am trying hard with the cable as well but I live in a flat share and I'm outvoted with the cable decision. So I save money in other ways like prepping my own food rather than buying.
Great tips, we use a home gym and home workouts to save money as well. Thank you for sharing, keep spreading the good word!
We really need to do a few of these things. We're also in the same boat with out cable prices. I need to start thinking of ways to pare down.
I would love to attain the goal of being debt-free. Right now I still have a car payment and a house payment. I am working on trying to get both of those paid off as quickly as I can and I'm hoping in the next couple years I can pay off the car at least.
These are some really great tips. I really need to get my debt under control... And I really need to cancel my gym membership.
Congratulations!! That is amazing that you were able to pull that off. You sound very driven and the tips that you have shared are so helpful!
I think that antenna is absolutely brilliant. I still remember old-school bunny-ear antennas but this one seems like it would have great reception.
I always try to meal plan, but sometimes I run out of things to eat. I get tired of making the same thing over and over, so I always need new things! I'm a big fan of exercising at home. I don't think I could ever join a gym.
Excellent strategies for saving big bucks! Congrats on getting the car paid off! I would love to switch my cell service from AT&T I really do think they are way too expensive but I am under contract so I have to find a place that would buy out my contract! I know some phone companies will do that. I need to get on it!
we cut cable four years ago. It was so hard, because we do watch TV. It was worth it, though, because we purchased Apple TV and now we stream what we watch via Amazon and Apple.
We're constantly pinching pennies over here. We cut out cable entirely and only do Netflix now, plus cutting back on a few other things. We cancelled our gym membership as well and found some amazing online videos for exercise
!
I think it's great trying to be able to save money. We never had cable, but we just go with Nexflix. It's really all we need since we don't watch t.v. much.
I love your ideas for saving money! I too dropped my super expensive cable and have saved a bundle!!
Hubby is not on board with getting rid of cable. He has to have the HBO and Showtime and those channels. I typically can deal with just catching things on hulu or Netflix...
These are great tips! We paid our car off and I have a home gym, so I think we're on the right track!
Our car is paid so no problem with it. I am fine with just Netflix too, but Hubby can't live without cable because of his fave sports and talk shows. So yeah, that's something that still gets a big chunk out of our monthly expenses.
These are such great ways to save money. We've been cooking at home a lot more lately.
I love these ideas for saving money. My husband and I just had a conversation about really buckling down and getting our finances in order.
Same here we have a target savings for this year so we limit our expenses and life style
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