A Quick Guide To Slashing Your Monthly Outgoings

Jan 21

Every time your pay check lands in your bank account, there’s that brief feeling of joy. Unfortunately, it’s always short lived as your bills, car payments and food purchases cut it in half. These essential payments can decimate our hard earned cash flow. Taking control of these outgoings is the first step to freeing up your money. Many people are paying for more than they need to on these bills.

Of course, they are all necessary. Bills, car costs and food payments are unavoidable. The trick is to find little costs to cut. Shave off small amounts every month and you’ll see a big difference. You’ll boost your disposable income that can be used to treat the family. On the other hand, you could just free up more money to invest or put in the savings account. Whatever your reasons, there’s always a cost to be cut.


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Food – Supermarket bills can stack up fast when you’re feeding an entire family. Just stocking up with the essentials can get expensive. Then we all nip to the local corner-shop for extras. We buy lunches out at work and pay for coffees on the commute. We may also splash out on takeaways. Take a look at your food spending habits and see what can be cut down. Try buying in bulk to keep costs down. Ordering online is another good tactic. You can bunch together the best deals. You’re also less likely to impulse buy when shopping for groceries online. Finally, try to cut out the frivolous food costs at work. Avoid spending money on coffee and lunches away from home.

The car – Anyone with a car will know how expensive they can be to run. There’s monthly car insurance payments and annual tax bills. Then there’s filling up the tank which feels like pouring money down the drain. After that you can be hit with huge maintenance bills if anything goes wrong. You can cut costs on every one of these aspects when you look hard enough. Look at an sr22 insurance cost. It may be cheaper than what you currently pay. Running a more efficient car can lower your taxes and save you money on fuel. Try to alter your driving methods to preserve petrol and last longer between fill ups. Finally, do basic maintenance yourself. Keep the tyre pressure at the correct level and inspect your fluids regularly. The car will run more efficiently and spend less time at the garage.

Your bills – Most of us stick to the same suppliers through loyalty. However, that’s not always the best plan. Nowadays, it doesn’t always pay to stay loyal. Search around for better deals on your energy supplier, internet connection and phone bills. Simple energy saving tricks around the house can work wonders too. Turn off all appliances and lights when not in use. Switch to energy efficient light bulbs and knock the thermostat down a notch or two. These small savings will free up an extra bit of cash.

There you have it, folks. These are just a few small changes in your day-to-day life that will help free up some disposable income. Which ones can you implement to your spending?