Financial Tip Friday: 3 Ways to Ditch Unnecessary Expenses

By Malaika Charrington

Living on your own can be hard -- sometimes even seemingly impossible, but with these simple tips, you’ll be able to cut down on your spending and relieve some of the stress.

Stop Paying for Cable

Cable users in 2016 are paying nearly $100 per month. For this reason, tons of people have been leaving cable companies in recent years and paying for subscriptions with services such as Netflix,  Hulu Plus, and Amazon Prime instant video. With a Netflix membership costing 9.99 per month, a Hulu Plus membership costing 8.99 (No commercials plan is 11.99), and an Amazon Prime Video membership costing about 8.99 per month (this is different than the Amazon Prime full bundle which includes free shipping on selected items and costs $99*), the final bill costs significantly less than any cable service.  As an added bonus, some like to invest in Amazon Fire sticks, or Roku Boxes which make it possible to watch Netflix, Hulu, Youtube, Amazon Video, and much more all from the TV.
*Amazon also offers a “prime” discount for students at $50 annually (50% off of its usual price).

Cook at Home

You may be inclined to settle for cheaper food alternatives like fast food, but while that may seem like a good choice, in the long-run eating fast food every day will have very harmful effects on your health. A better option is to buy bulk amounts of easy-prep foods such as pasta, meats or vegetables from local warehouse stores such as Sam’s Club and Costco (For both of these chains, a membership is required, $45/year for Sam’s, $55/year for Costco), and prepare your meals in advance. This may seem more laborious than what you’re used to, but ultimately, your body and your wallet will  thank you. Here are some quick, easy, and cheap recipes to get you started.

Manage Your Transportation Costs

If you live in a place where public transportation would be ideal, then take advantage of it. Having a car doesn’t necessarily make it imperative to drive everywhere. Walking, biking, and public transportation are all ways to save money on gas. If you’ve decided that you NEED to buy or lease a car, then check out our guide to buying your first used car.

So there you have it! Three great ways to save money and cut down on unnecessary spending. Now you can cut down on the burden of budgeting, and enjoy life on your own.