Trying to save money this Easter? Check out some of these ‘hidden’ Easter eggs that can help you cut back on expenses and save money in your budget basket.
In fact, the adult version of Easter eggs should relate to money, because as you grow older, the importance of planning your budget, building your savings and growing your wealth becomes that much more vital. Keep this in mind especially while refreshing your finances this Spring.
The most important thing to do as an adult is to find out where your money is going. In other words, track your spending and find out how much you’re spending on various categories of purchases. Creating a budget and building on it is the best way to have a healthy relationship with money this Easter. Here are a few strategies that can help you do this.
Look out for recurring expenses
Your recurring expenses refer to expenditures that occur periodically. These include rent, utility bills, monthly mortgage payments, and any other payment that is due on a monthly basis. You have to monitor these expenses since they usually take a big bite out of your monthly income. Knowing where your money is going and how you’re spending it is crucial.
A good way to do this is to write down every monthly expenditure you’re paying at present. Then, look at how much of this is non-essential. This could include paying for an internet connection or cell phone plan that is more expensive than what you actually need, dining out often, etc. Try cutting out some of these non-essential costs for some time till you’re able to save up enough for your financial goals.
Revisit grocery budget
Do you feel like food always makes up for a huge part of your monthly grocery bills? This happens to most people, so you’re not alone. But there are plenty of ways in which you can reduce your grocery bills:
- Buy in bulk: Buying in bulk can reduce your bills quite a bit. Just make sure that the expiry dates give you enough time to use up what you buy.
- Be your own cook: Dining out costs significantly more than eating at home. Cooking your own meals is a great way to save money.
- Search for discounts and deals: Most retail brands offer great discounts and sweet deals on various grocery items. Keep an eye out for them and then buy in bulk.
Drop expensive brands
Shopping for only branded products is one of the fastest ways to spend your hard-earned money. Till you get your finances back on track or if you’re looking to save money for a few months, drop the brands and go generic. This applies to everything from clothing to food to gadgets.
Cancel subscriptions
Subscriptions for apps, streaming services, fresh produce, meals, toiletries, etc., can eat into your income. Most likely, many of them may be set up as automated payments as well. So, you don’t really know when the money is going from your account. Cancel your Netflix and other premium subscriptions for a while.
Do things yourself
You don’t always have to get a professional to come and do things for you, things that you can do yourself. For example, if you have a minor plumbing problem, try fixing it on your own. There are plenty of DIY videos online on how to fix things without professional help. But if you think you will only make the problem worse, then get help.
