Posted By Yi-Xin Jin (Lily)
It can be hard to save money and manage fixed expenses with a tight budget. Here are seven ways to help you cut back expenses.
1. Homeowners Insurance
You should consider raisign yoru deductibles to $500 or $1000. If you combine your homeowner and automobile policies you can receive a discounts from your insurance company. You can also reduce your insurance premium by installing smoke alarms, deadbolts locks and home security systems.
2. Auto Insurance
If you can afford to, try to increase yoru deductibles from $200 to $500 and this could possibly reduce your collision and comprehensive coverage by 15 percent to 30 percent.
Cutting coupons can make a dramatic different on your grocery bill. You should also keep track of the prices of frequently purchased items and make a meal plan before you go shopping.
The cost of basic programming cable is around $42.76, however if you add premium channels to your plan, it can easily go up to $100 per month. You can save approximately $100 or more per month, by sticking to your “needs” when it comes to cable and cell phone plans.
You can save hundreds of dollars by shopping at the clearance racks more often when it comes to buying clothes for kids.
6. Utility Bills
You can save up to 10 percent on your heating an cooling costs if you set your thermostat back when you are not at home and when you are sleeping. You can also curb your utility bill by lowering the temperature of your water heater to 120 degrees Fahrenheit.
A great way to cut back entertainment expenses is by investing in region-specific entertainment coupon books.
Sources: 1. http://finance.yahoo.com/banking-budgeting/article/106118/Smart-Ways-to-Trim-Big-Ticket-Expenses