Career Advice - A Community Blog

Erik Larson writes about the job market, resume improvement, and career advice

10 Ways to Save Money on Monthly Expenses

Written by Erik Larson, Community Blogger | Mar 5, 2018 12:45 AM

Figuring out how to spend less money is a huge challenge. One of the best ways to start saving cash is by cutting down on your monthly expenses. To successfully do this, you'll need to remember that every dollar counts and that even when certain bills seem insignificant and small, their cumulative effect can be very big.

Car Expenses

Owning a car can really drain your wallet. You will be faced with a lot of repair costs in order to keep the car in good condition. If you're currently spending too much money on maintenance and gas, then you should consider getting a smaller vehicle that is known for its fuel economy.

If you have a car that you rarely use, you should consider selling it. This will allow you to use this money to either beef up your savings account or pay off debt.

Another good way to save money on car expenses is to find the right insurance. Just like it's important to find the perfect vehicle for you, it's also important that you do some car insurance comparisons in order to maximize your savings.

Public Transportation

In case you have access to public transportation, you will be able to save a lot of money that you would've otherwise spent on parking, gas, and car maintenance. It's recommended that you use public transportation even if you have a car, and use the vehicle only when you absolutely have to.

Aside from public transportation, you should also consider sharing a ride with someone else when you're going to and from work.

Save Energy

Grabbing some energy saving light bulbs at a hardware store and keeping the lights off while you are not at home is good way of reducing your electrical expenses.

Check Your Memberships

One of the good ways to cut your expenses is to figure out exactly which membership services you're using. Be sure to check everything, from your movie theatre card to your gym membership. If you find that you're not using something often, then you should cancel the membership.

Cancel Your Cable TV Service

If you have a membership for cable TV or a streaming service, removing or changing the cost of these could help you save money on a monthly basis. Cutting down on watching television or completely cancelling your subscription with your cable provider will not just save you money, but it will reduce your electric bill as well.

Save Money on Food

Grabbing some fresh ingredients at a local store and preparing a self-cooked meal is a fun and healthy way to reduce your monthly expenses. Make sure to try new recipes every week in order to keep this hobby exciting.

Use Coupons

When you're out shopping for groceries and other items for your home, you should use coupons every chance you get. However, you should never buy an item that you don't need just because you have a coupon for it.

Switch Your Insurance Plan

Make sure to learn more about different insurance plans. For example, premium insurance is mostly used for people who seek medical attention often. If you are using your insurance just for accidents, changing your plan can effectively help you save money.

Change Your Cell Phone Plan

Take some time to think about exactly how much you use your cell phone. If you feel like you can downgrade to a cheaper cell phone plan, then you should do it immediately.


Figuring out your budget is must if you want to start using any of the saving methods. If you are living from paycheck to paycheck, then you will definitely need to examine exactly what your expenses are and how you're spending your money. 

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