Re-Evaluate Monthly Expenses

Besides your mortgage, chances are you have recurring bills each month. Most of us simply write the check without giving it a second thought. But being mindful with your money is a key to being financially successful. Take a look at recurring monthly expenses and consider ways to save. Common ones include:

• Gym memberships
• Kids’ lessons and activities
• Insurance
• Cable TV
• Cell phones
• Internet
• Movie subscriptions
• Etc.

Cable TV
Instead of subscribing to an expanded cable package, cut back to the most basic package and supplement with other media. Read more. Swap magazines with a friend. Instead of buying new DVDs or renting them, create a queue using library holds and interlibrary loans. This works for books, CDs, audiotapes and other media too. You’ll get a steady stream of new selections each week and it won’t cost you a penny. By saving $50 a month, you’ll come out $600 richer at the end of the year.

Re-evaluate phone plans
Are you using up all your cell phone minutes? Do you have more coverage than you need? Consider switching to a different plan or a pay-as-you-go plan. With your landline, consider dropping the added features such as caller ID and call waiting. If you mainly only use your cell phone, ask yourself if you can do without the landline altogether.

Get New Insurance Quotes, Raise Your Deductibles
If you haven’t re-evaluated car insurance policies lately, you could be paying too much. One quick way to save is to raise your deductible. If you’re deductible is set at $500 consider raising it to $1,000. Yes, you’ll have to pay more out-of-pocket if you’re in an accident, but you could save up to 30% on your rates throughout the year. Or, if you car is worth less than $2,000 you may want to drop collision insurance completely. Consider bundling your auto insurance with your homeowner’s insurance to save even more.

Exercise the Old Fashioned Way
Instead of spending $75 or more per month in Health Club fees, exercise the old-fashioned way and do something productive at the same time. Household chores like mopping, vacuuming are great calorie-burners. Outdoor chores like cutting grass, washing your car, raking leaves and gardening, burn nearly as many calories as a slow jog. Supplement your fitness routine by jumping rope or dancing with your kids and taking your dog for a run and everyone comes out ahead. You can also find free workouts on YouTube as well as rent fitness DVDs and videos from your library.

Focus on the Family: Limit Extracurricular Activities
Families are overscheduled in today’s day and age. While extracurricular sports and activities are important, spending time as a family is more important. If your kids are in several extracurricular activities, you may want to consider dropping a couple. Instead, institute a family game night. Cutting back on 2 or 3 activities can help you save an extra $100 per month as well as strengthen your bond as a family.

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DH just called our cable/phone/internet company and we are now saving $10 a month and an extra $10 for the next three months so $150 this next year - just a phone call nothing has changed in our service. I wish we could drop it but we can't so ... DH wouldn't survive without his HD and sports channels LOL and since it is really the only thing he has I can't complain too much.

The one big things we have re-evaluated is the car payment. Unfortunately it was because we needed to get a new car so $25 less every month.

Other things on the list are hard for us to re-valuate
• Gym memberships (don't have and droped Weight watchers)
• Kids’ lessons and activities (DD is two so we haven't put her in activities yet)
• Insurance (Just Called and Checked Honestly with my luck (two accedints in the last 3 years I am going to keep my super low deductable) The savings in going to a higher deductable is $5.70 for me personally. So for it to pay off I will need to go almost 6 years without an accedent. Realisticly in my area I don't see that happening. Still it was good to check
• Cable TV (no Cable)
• Cell phones (Pre paid pay as you go, I spend per year what many pay for 1 month)
• Internet (Mommysavers Addict what would I do without the internet) Its a splurge but we use it
• Movie subscriptions (nope)
• Etc. (For us would be hobbies and my hope is to find ways to make them pay for themselves)

So mainly I am now getting an extra 30 a month.
The big one to evaluate is food spending. Its the number one area I feel we spend too much on. I am trying to do more in depth planning to cut back and spacing out my monthly Costco trip to my every 6 weeks Costco trip.
Our big budger breaker is still going out especially with it being summer. Our house needs new windows & insulation so it becomes a oven for 3 months out of the year. Summer is the worst for our eating out. The heat just drains us so we go out. We are more active so we grab food at our activities. We celebrate so many things 8 birthdays (immediate family) is a lot of cake

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Kimberly Proud Mommy to Bethany Rose April 2006 &

Organizer of the Coupon Clippers of Tacoma

One thing we reevaluated and no longer pay for is my husband parking in the garage at work. He parks in a vacant lot across the street and walks a block instead.

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It's not what you make; it's what you spend.

We're considering the cable issue. We currently have one step above the basic package.

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Michele