Rick and I have really worked to improve our financial literacy as I have shared. We love saving money and finding new ways for our family to grow financially.
When we got serious about improving our finances that is when we really looked at areas that we could save money in. You can read my previous blog to see how we improved our finances.
One big area that I mentioned was definitely cutting back on spending. We found areas in our life where we could scale back, and find better ways to spend our money.
Before I dive in I wanted to say the obvious to all my shoppers out there. At one point I thought I had to always splurge in order to have a cute wardrobe. That couldn’t be further from the truth. There are so many ways that you can dress cute without breaking the bank and cut back on spending!
I love that I was given the opportunity to partner with Walmart to share just how that is possible. Would you believe that my entire outfit is from Walmart and less than $100?! Walmart has seriously been stepping their game out giving so many fashionably pieces that allow you to keep that budget in check.
This speaks to my earlier point sharing our outfits from Walmart. Y’all if you want to save some money start shopping at those budget friendly stores. You would be surprised the styles you can get if you just take the time to look. Yes I am sure you are thinking (like my husband would) well just don’t shop at all. Well, that isn’t realistic. You want your budget to be realistic with who you are in order for it to be successful. My husband learned who he was married to and said if you want to reach your financial goals you are going to have to cut back shopping. I completely agree, and for me I don’t want to spend my whole budget on 1 thing so that brought me to always trying to shop affordable options.
We now have a designated date that we eat out, and limit our dine in restaurant visits to twice a month. With how busy life is right now we were eating out every other day, and our food bill was hefty. We do a lot of meal prep now, and crock pot meals. Our eating out bill is just a fraction compared to what it once was.
This is funny to even say this but this was a bad habit we had to break ourselves from. Even if we had it we weren’t always paying that cell bill before or on the day it was due. The problem is you get late fees, and those add up and ultimately make you pay more which takes more money out your pocket. Eliminate paying late fees ASAP!
Sometimes there are not bills that you can completely eliminate but there are bills that you can ensure you are getting the best possible rate for. Our Cable and cell phone was honestly ridiculous. We have been paying it every month even though it could be lower. What we realized is that we went out of a contract and were getting charged a higher amount. We re-negotiate our bill (might have even threatened to leave), and got our bill down 30% off. If you can’t re-negotiate look at possibly lowering the service. Plus my husband’s job has a discount program that we were able to join to get an additional discount. Talk to your carriers and make sure you are getting the best possible rate. Don’t leave money on the table. Other easy wins is to be mindful about cutting back on your water and electricity. We have been using very intentional about making sure we keep utilities low.
When we went through our bank statement we realized we had way TOO much bills being deducted that we didn’t need. From Hulu to Pandora. Just so many expenses that needed to be cancelled. Take the time to go through your bank statement and audit the expenses that are coming out, and evaluate if you should be having this monthly expense. It does add up!
I know this sounds way easier than what it really is, but this is a huge one to tackle over time. Rick and I have been very intentional with chipping away at our monthly debt. That is just an unnecessary output of money that we don’t need to be spending. We have been working very hard at paying off all our credit cards, and only keeping very minimal balances on each card. I mentioned on my previous blog that we opted to do the Dave Ramsey’s snowball method, but do whatever works for you to get that debt paid off! Also, whenever you we get any extra money that comes in we pour it into paying off debt.
Of course you cannot get around the grocery bill expense. That will be here but you can make sure that you stay within your budget when grocery shopping. I have been managing our grocery shopping bill by getting our groceries online from store pick up. I no longer get that check out surprise when all of your items get added up. Shopping online allows me to make sure that I do not go over my budget. It also helps me make sure I don’t forget anything either. Another way we save is by buying in bulk.
I am the queen of get my nails done and facials. I was going like clock work. However, when you are on a budget or working towards a financial goal that comes with sacrifice. I used to get my nails done every other week. I limit myself to only once a month for all my self-care services. So if you catch me around these streets and I need my nails done, don’t judge. HAHA! Just know that I got financial goals I am working towards!
We were so surprised at how much money we kept in our bank account by following the above tips on cutting back on spending. Depending on your financial goals you may need to go a bit stricter to meet them and eliminate temporarily some of the above. When we first started working on our finances we sacrificed a bit more, but as we got in a better spot we conservatively added some of expenses back in.
Don’t forget to grab (if it is in your budget) this super cute dress for only $36. Cheers to saving money and looking cute at the same time! Is yellow not your favorites shop any of these other styles by clicking the images below!