Easy Ways to Cut Monthly Expenses

 We’ve talked quite a bit about budgeting and getting out of debt here on Project Debt Relief.

In fact, the two go hand in hand. Budgeting is essential so that you don’t fall into debt in the first place. And budgeting is possibly even more important when you are already struggling with debt and you need to get out of it.

One of the most important factors of both budgeting and getting out of debt is cutting down on your monthly expenses and bills.

Cutting down on your monthly expenses is a surefire way of lowering your monthly bills. It can give you the chance to save more money, pay back more of your debts, or have a little extra to spend on yourself.

cut monthly expense

Below are a handful of the absolute easiest ways to cut down on your monthly expenses. Take note of these and you’ll be able to trim down your budget without sacrificing anything that you can’t live without.

1. Student Loan Debt Repayment

Student loans are one of the primary reasons that people struggle with debt for a good portion of their lives.

Even if you made the decision to take out a student loan long ago, it could still be affecting you today. Of course, the money that you borrowed for a higher education was supposed to be an investment and not a burden, but, as we all know, that’s not always how things work out in the end.

Your best bet is to find a repayment plan that works for you. It should be a repayment plan that allows you to pursue your greater goals without hindering you or holding you back.

The first thing that you can do to find a better repayment plan is to more closely research your current one. Many providers offer you the chance to reduce your overall interest rates if you sign up for a monthly payment auto-pay plan.

The next thing that you can do is to talk to a financial advisor to find out if student loan debt consolidation is beneficial for you. If it is, you might be able to consolidate your student loans into a single monthly payment that has a far lower interest rate than the one that you are currently paying.

Doing both of these things will help you tackle your student loan debt quicker and more effectively and help you save money in the process.

2. Promotional Packages

There are a lot of expenses that many of us have each month that we could be paying a lot less for. Though many of these are for entertainment, it is no reason to do away with them completely.

Looking into deals offered by these providers could net you a lower monthly rate, especially if a certain provider is currently offering a promotion.

A few expenses that you might find promotional packages for with a little digging around include:

  • Cable television
  • Internet
  • Phone
  • Utilities

In fact, some people have been able to lock onto promotions that give them up to three years of savings. Look around, see what’s being offered, and jump on the chance to receive better rates if any are available.

3. Read the Fine Print

If you are looking to cut monthly expenses, then it is important to search for hidden fees, especially when opening a new bank account or a new credit card. You don’t want to end up dishing over extra money just because you did not follow the instructions or read the fine print.

An example of this is that many banks require you keep a certain checking account balance each month. If you fail to keep this particular balance, you could be decked with a high fee.

4. Plan Your Meals

One of the heftiest monthly expenses that a majority of people struggle with is food/meals. Simply put, groceries cost a lot of money and feeding a family (or just yourself) can get expensive in a hurry.

Luckily, planning out your meals is one of the easiest ways to cut monthly expenses. By planning them out, you know what you need to buy at the store and you won’t be tempted to buy anything extra. Furthermore, it will allow you to shop for the cheapest items possible.

Planning out your weekly meals also makes life easier. In addition to saving money, it can cut down on the stress that is created by a busy work schedule.

5. Turn Stuff Off!

Your monthly electricity bill is actually one of the easiest specific areas in which to cut monthly expenses.

Way too many people leave devices on when they are not in use. This includes things like computers, televisions, radios, and, most frequently, lights. Simply turning these things off when they are not in use can save you some serious money each month.

Better yet, unplug these devices altogether. Though many people are unaware of it, these devices actually function quite like energy sucking vampires. Even when they are turned off, they can suck serious energy – and serious money – each and every month.

Simply unplugging these – your television, computer, DVD player, and any other electronic device – can save you $100 (and often a whole lot more) per year.


There is absolutely no denying the fact that saving money is hard. It can be extremely difficult to cut monthly expenses.

Luckily, it can be done. The key to it all is starting small and sticking to it. Though none of the things talked about above will have a giant impact on your monthly expenses all by themselves, doing them all together will result in a high amount of savings.

Remember that your best bet is to keep at it, understand the specifics of your various bills and charges, and to stay on top of the game. With a little know-how and effort nearly anyone can cut down seriously on their monthly expenses and save a whole ton of money in the process.

It doesn’t matter if you’re doing it to save for the future, save for a specific object, or put more money towards your debt repayments. It just works.

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