The Top Bills to Cut in a Financial Crisis
When financial crisis is looming, many people panic. In
today’s world, more people are living paycheck to paycheck than ever. However,
if you look carefully at your budget, you can probably find quite a few areas
to cut when you are facing a financial crisis. If you are facing financial
hardship, try reducing your bills in these areas until you get back on your
feet:
TV and Entertainment
Do you spend a lot of money on TV or
entertainment each month? This is an area you can easily cut. Consider reducing
the amount of television that you subscribe to. You may be able to reduce your
cable or satellite package to the basic package and save a hundred dollars or
more each month. Even better, try eliminating paid TV altogether and watching
TV online or through mobile television apps on your phone or tablet. If you
frequently see movies in the theatre, try renting and watching movies at home
to save money until you have more income.
Phones
If you are like most Americans, your phone bill
is high each month. If you have cell phones and a land line, your bills are
even higher. When you are facing financial hardship, cutting back on phone use
is a great way to save some money each month. Consider eliminating your land
line phone altogether. If you have a data and texting plan on your phone,
eliminate these for a while to save a significant amount of money each month.
If you are at a greatly reduced income, you may even qualify for free phone service paid for by the
United States Government.
Monthly Subscriptions
Do you subscribe to a lot of monthly services?
If you get monthly subscriptions, including video games, magazines, food,
monthly clothing subscription packages, or subscriptions to monthly charity
donations or associations; you can save quite a bit of money by eliminating
these expenses. In fact, most people do not even realize how much they are spending
on these services each month. You could save $100 or more each month by
eliminating these subscriptions.
Reduce Utility Bills
Most people are able to cut back on the cost of
utility services, if necessary. Simple changes, like not paying for lawn
service, turning off your sprinkler, and raising the temperature of your
thermostat by three degrees in the summer (lower it in the winter), can reduce
your utility bills by a significant amount. When possible, turn off your heat
and air conditioning to save even more money.
Food
Do you spend a lot of money on food each month?
If you are strapped for cash, the food budget is a great place to cut expenses.
Lower your food bill by creating a meal plan for each month. Try to purchase
ingredients that you can use for multiple meals. Shop store sales, and go for
inexpensive dishes. Adding a few vegetarian meals each week can help reduce
your food budget significantly. You may also qualify for government assistance
to help feed your family.
If you cut expenses in these areas, you may find
that you can just get by until you can replace your missing income with another
income source.
