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Want to save your budget? Stop overlooking these expenses! | My Money Track

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Want to save your budget? Stop overlooking these expenses!

TC-Want-to-save-your-budget-Stop-overlooking-these-expenses

Are you putting too much effort in arranging money for paying bills? In that case, you need to revisit your budget right now. Drafting a perfect budget is a strenuous job. On top of that, if you overlook certain expenses, it can surely break your bank.

Check out these overlooked expenses that can take a toll on your monthly budget:

1. Cable TV expenses

You may be paying unnecessary cable TV bills if you already have the Internet at your home. Think about it! If you watch a few channels, then why would you pay for a fully loaded cable package? On an average, the cable bill goes up to $80 per month. You don’t need the cable TV if you have the Internet at your home. Use your Internet service to its fullest and save bucks on cable TV bills.

2. Food expenses

“The average monthly cost to feed a family of four is between $553 and $1,075, according to the U.S. Department of Agriculture.”

Do you often stop by the food joints to grab your breakfast because you are running late? If yes, then try to take out time from your busy schedule and make your food at home. Buying food from outside every day will add up more to your monthly budget.

3. Gym membership expenses

Are you investing your precious dollars for the gym membership? Stop! Spending $40 to $50 on an average per month for gym membership may cost you thousands at the end of the year. So, before you hit the gym, think about other available options such as running or walking outdoors, doing free hand exercises, following DVD fitness programs at home, and so on.

4. Medication expenses

Medicine bills can damage your bank account if not handled properly. To avoid expensive prescription drugs, consider buying generic drugs at a lower price.

 “Generics are the bio-equivalent of brand-name drugs, but cost 80 to 85 percent less.”

To further cut down the cost of prescription drugs, sign up for a pharmacy discount and save up to 10 to 25 percent. Download apps like GoodRx, LowestMed, and Prescription Saver in your smart phone and compare the drug prices at nearby pharmacies.

5. Account maintenance expensesLosing money

Each account maintenance fee may not seem too big, but, it can make your monthly bills long. Choose no fee checking accounts, no annual fee credit cards, and prepaid cards to save your budget. Next time you visit the bank, make sure that they aren’t charging you maintenance fees for bank accounts, credit cards, and prepaid debit cards. Why would you waste your money on these useless things?  

Read more – How to stop paying the bank

6. Subscription expenses

This is another unnecessary expense that you might be making each month. Paying ‘only $30’ per year for a magazine subscription may seem a small amount. But, when the amount adds up over time, you may not feel like subscribing again. Initially, these expenses look small but, they become much higher over the years. Ahead of your subscription, check out whether or not you can get the information for free at the online portals.

7. Shopping expenses

Paying the full price for each item you buy will burn a hole in your wallet at the end of the month. No matter from which store you’re buying your goods, don’t forget to ask for discounts each time you go for shopping. Military, veterans, student and senior discounts are also available at some stores. There are stores that offer you discounts if you’re a member of an association like the AARP ;(American Association of Retired Persons).

8. Health insurance expenses

Monthly premiums for health insurance are often overlooked. Health insurance premiums are expensive even without adding the copays and deductibles. They can lead you to debt if you aren’t prepared well. So, try to keep aside some money to cover up your health insurance costs.

9. Gardening expenses

Who doesn’t love to have a perfectly polished garden in front of their home? Well, the list will never end. Your wish of ornamenting the home with a superb garden may uproot your entire monthly budget. There are other things too, which you need to take care of apart from your gardening expenses.

10. Pest control expenses

Your house will lose its value if it’s infected by termites and other insects. It doesn’t matter how frequently you do pest control. You should always keep aside some money to pay off your pest control costs.

checkbookNext month, when you will get your paycheck, make sure to keep some money for the above expenses. These expenses may appear small at the beginning. But, they’ll add up more to your bills in the long run.

Author Bio – Good Nelly is a financial content writer. She is associated with debtconsolidationcare.com and you can also find her work in mywayofviewing.com, which is her personal blog. Besides writing financial articles, she also loves to cook and travel.  

 





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