Keeping a budget every month is one of the most basic principles of saving money. But when was the last time you stopped to check how waterproof your budget really is?
Your budget might be “leaking” if you are letting your expenses creep up unchecked. Sometimes this happens with standard of living items, like your grocery bill or the amount of money you spend on clothes. But this can also happen with the monthly bills that you normally consider to be “fixed” amounts like your car insurance.
Do you need to pay for both cable and Netflix? Could you be happy with one or the other? If not, are there any other entertainment costs per month that are less important to you? Call your cable company and see if they can offer you a lower rate on the services you receive. Most cable companies would rather charge you less than lose you as a customer.
Don’t pay bills out of habit. Pay bills intentionally. If your car payment goes up when it’s time to renew the policy, take the time to shop around. You may be paying the best price you can, or you may be able to find a better deal elsewhere. There’s no harm in taking the time to look on a regular basis of at least twice a year.