50+ Ways To Drastically Cut Your Monthly Expenses If You’re Struggling Financially

We are living in times of uncertainty. Just when things were going good, everything flipped in an instant, and the world changed forever.

This current world event has completely opened my eyes to how I can improve my financial situation and cut back on unnecessary spending. If you’re in the same boat as me and want to find ways to cut back on some of your monthly expenses, then you’re in the right place. Listed below are over 50 life-changing ways you can cut back on expenses, save more money every month, and make money! Take a look at the tips below!

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54 Ways To Cut Your Monthly Expenses In Half

1. Consolidate debt and lower your interest rate
2. Raise your insurance deductibles
3. Negotiate bills for discounts and payment extensions
4. Bundle cable and internet 
5. Buy generics/store brand products
6. Switch to a prepaid cell phone
7. Start couponing
8. Cancel subscriptions
9. Cancel your gym membership and work out at home
10. Consider downsizing to a smaller home
11. Bundle home and auto insurance 
12. Use your dishwasher instead of washing dishes by hand 
13. Look for cheaper childcare options
14. Cut cable
15. Cook at home and pack leftovers for lunch
16. Install a programmable thermostat
17. Turn on the ceiling fans instead of turning on the AC. 
18. Only purchase items that are on sale
19. Find free entertainment 
20. Shop with cash only to avoid overspending
21. Set up automatic payments to avoid late fees
22. Create a budget and stick to it
23. Buy toiletries in bulk to save money (paper towels, tissue, etc. )
24. Go grocery shopping with a list to avoid buying things you don’t need
25. Look for discount codes, rebates, and coupons before making an online purchase. 
26. Prepare freezer meals to save time and money
27. Turn off the lights when you leave the room
28. Shop for a cheaper internet provider
29. Unplug electrical devices that are not in use
30. Wash clothes in cold water to save money on your energy bill
31. Switch to LED light bulbs
32. Air dry your laundry on a drying rack instead of using the dryer
33. Change the air filters in your HVAC system often
34. Fix leaky faucets to avoid wasting water and lower your water bill 
35. Start meal planning and meal prepping for the week
36. Shop from thrift stores and consignment stores
37. Stop eating out
38. Save your credit cards for emergencies
39. Have a no-spend weekend where you don’t spend any money the entire weekend
40. Find a new side hustle to bring in more money
41. Switch to a low-flow showerhead to use less water
42. Turn the water off while brushing your teeth or washing your face
43. Collect spare change and keep it in a jar
44. Try a money-saving challenge to save money every week
45. Automate savings to a savings account that you can’t touch
46. Ask a family member, close friend, or neighbor to help you with child care while you work 
47. Sell your unwanted items
48. Sign up for free customer rewards programs
49. Stop smoking 
50. Create homemade gifts
51. Carpool to work or take public transportation 
52. Make your own homemade cleaning supplies instead of buying them
53. Air seal your home 
54. Don’t be afraid to ask for help

If you’ve been affected by this current world event or if you’re just tired of living paycheck to paycheck, then these tips will help you get to a better place financially. If you have any tips that you would like to share, tell me about them in the comment section below.