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10 ways to lower your expenses!

You don’t have to give up these things forever. These are just ideas of how you can lower expenses either temporarily or permanently. I did almost all of these when I was getting out of debt!

  1. Cut cable. Hulu and Netflix are way cheaper! If you are a sports fan, go to a friend's house and watch your favorite team! Your wife will probably thank me.

  2. Switch car insurance to a cheaper policy or cheaper agent. You'll be surprised how much you can save!

  3. Trade your expensive car in for a more affordable car! I know none of you want to hear this one but your car payment is one of your biggest expenses. What if you only drive that cheaper car for 2 years? Let's say it will save you $300 per month. That's $7,200 you could put toward debt, saving for a house, etc. If you drove the cheaper car for 3 years that's $10,800. Would you rather LOOK rich in a nicer car or BE richer with an extra $10,800 in your pocket? If your answer is the first choice then just stop reading because you aren't going to listen, take anyone's advice, or ever be smart with money.

  4. Refinance your house. Obviously this one depends on the rates and if the math makes sense! I only recommend this if the rate is lower and you plan to be in your house at least another 2-5 years. I don't recommend refinancing just to stretch out the loan another 30 years to lower your payment.

  5. Eat out less. I know yall aren't going to like this one either but cooking can save you A LOT of money! If you actually track how much you are spending eating out, you will probably cut back automatically because that's what happened to me. I was like WOAH, ummmm let's reel it in Julie. I get it.... it's way easier to grab food but if you plan and meal prep it isn't so bad. Also I highly recommend crockpot recipes and sheet pan recipes. They make my life easier and I don't even have kids! Here are my Pinterest boards for crockpot recipes https://pin.it/5HNcX9Q and sheet pan recipes https://pin.it/3FlPfct.

  6. Do a "No Spend" month. For 1 month ONLY buy NECESSITIES. I prefer to do my No Spend month in January but whatever works best for you. No Spend January has been a tradition of mine for 5 years now. I've saved between $1,300-$3,000 per month by doing this! No Spend January consists of: No eating out, no shopping, no alcohol, no vacations, pause subscriptions and memberships that aren’t a necessity (gym membership, beauty subscription boxes, apps, etc), try to hold out on hair & nail maintenance, and only buy items at the grocery store that are for a recipe or healthy snacks (no “I might need this later” items like extra bags of chips or extra cans of beans etc). If you want to just pick 1 category not to spend money on, that’s better than nothing, but to reach optimal results go full out! The more extreme you get with this, the more money you save.

  7. Cut back on the hair salon. Go back to your natural hair color or switch to balayage so you can go longer between hair appointments.

  8. Workout at home. Pause your gym membership for a few months to work out from home and save money! Or find a buddy with a Planet Fitness membership and tag along for free!

  9. Cancel subscriptions. Cancel any TV subscriptions you can live without, beauty subscriptions, apps that you aren't using.

  10. Stop drinking and/or smoking. Alcohol and nicotine are expensive! Consider giving up alcohol for a little while to save or just cut back. And the nicotine...you need to just be done with for good! Your lungs will thank you!


Email me today to sign up for money coaching to help you get out of debt, get your budget under control, and start your journey to financial freedom! juliehanelinemoneycoach@gmail.com



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