In case you hadn’t noticed, things are more expensive these days. A lot more expensive. Like most of you, I am feeling the money crunch. I started taking a hard look at my expenses to find ways to cut costs.
To help stretch my budget, I’ve decided to make Summer 2022 a No-Spend Summer.
My No-Spend Summer
When I say a no-spend summer, that doesn’t literally mean I won’t spend any money. Of course, there are bills to be paid and living expenses.
No-Spend Summer means finding as many ways as I can to cut down on what I do have to spend. And limit spending on any extra or unnecessary things.
On June 1, I started reviewing my monthly expenses. Things that are non-negotiables like rent and utility bills get priority. After that, I’m looking at everything that I currently pay for to see if there are ways to eliminate or cut back. Also, I intend to limit as much impulse buying (ahem… Amazon) and all the random purchases I might otherwise make.
Necessary Expenses
Fixed Expenses – Each month, I have certain expenses that can’t be skipped. These include rent, insurance, cell phone, and internet service. These expenses get priority as they are either essential basic needs or are necessary for other parts of my life.
TIP: For things like cell phones and internet, review your plan to see if you can downgrade. You might not truly need as much data or speed as you think.
Variable Expenses – There are some things every month that, while still needed, vary in how much they cost. For me, these bills include utilities, any charges on my credit cards, and groceries (more on that later). As an example, I know my electric bill will be higher from running the air conditioner this summer. To help offset that, I will be more mindful of making sure lights are turned off and trying not to use the oven as much. As for gas prices, thankfully I don’t have to drive much. But you can look for ways to save by carpooling and combining errands whenever possible.
Expenses I Can Contol
We all use a lot of services and products that we don’t think about often. But these daily or occasional expenses add up fast. Here are a few ways I can spend less on these kinds of services.
Television – I ditched cable a few years ago and use a streaming service. While it’s overall cheaper, there are additional expenses for each programming tier and special channels. I dropped all the extra movie channels I had, leaving only the two basic tiers. With using a Roku player, I also have access to other free apps and stations. Granted, most of these services only have older programs or obscure things, they provide additional viewing if needed.
Subscriptions – In addition to my streaming service for television, I have monthly subscriptions to other entertainment platforms. These include television/movies, sports, and audiobook providers. After reviewing how much each service cost, I evaluated how much content I consume on each platform. I ended up cutting several completely, and downgrading to basic packages on another. (Disclaimer: This doesn’t include one-time subscription fees to things like computer programs/vendors I use for professional purposes.)
Groceries and Miscellaneous – I usually order my groceries online and have them delivered. While it’s convenient and does help cut down on some impulse buying, I sometimes order things I think I want without really having a plan for using them. Or I already have them in the freezer or cabinets. I’m going to start basic meal planning to prevent overbuying and/or buying things I already have. Also in the food category is dining out. I honestly don’t go to restaurants often other than an occasional special event with a friend. But the delivery apps make it way too convenient to order food. While this is okay once in a while, the fees and delivery tips add up fast if ordering frequently. I deleted all these apps from my phone. With other forms of online shopping or miscellaneous items, I’ll evaluate if I truly need it and/or if I already have it. I won’t buy any random or unnecessary items just because they’re fun, only things I really need.
Social Activities – I’m not someone who goes out every week to hang out with friends or who goes to every movie that comes to the theater. But I enjoy a night out for certain events. However, things like concerts and sporting events are expensive. I already have tickets to a handful of things this summer. So I won’t be buying anything more. As fun as going to these events can be, they aren’t an absolute necessity right now. My community has several free concerts and outdoor performances I can take advantage of if I want additional entertainment.
Books – As an avid reader, my To Be Read list is never-ending. I finish one book and find three more I want. I have a ton of books on my bookshelves (both physical and digital). So I definitely don’t need to buy any more books right now. I’ll use my summer to start reading books I already have. The one exception will be a new release from a favorite author. I have his full series in hardback, so want to be sure to add the new one to my collection.
Summer of Savings
As prices continue to go up, we will all be looking for ways to save money. Unfortunately, there are things we can’t adjust or skip. And we all have unexpected expenses for car repairs or doctor visits that can’t be planned. But there are a lot of little ways to save money by changing services and purchasing habits.
Sit down and go through your regular expenses. If you have a family, do this together so you can discuss needs and options. While cutting back can be tough at first, finding even a few things to let go or adjust will help. A few dollars here and there might not seem like much. But over time, those savings add up.
** Have you found it harder to make ends meet lately? You’re not alone. What are some ways you’re cutting back on expenses this summer?**
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