No matter how much you may try to scrimp and save for a rainy day, a financial crisis may hit. When such a financial crisis hits it can certainly be scary, but the truth is you don’t have to feel like you are drowning. Now is the time to start making cuts to your budget so you can save some cash for the crisis at hand. Not sure where to begin? Here are 25 expenses you can cut RIGHTH NOW when a financial crisis hits so you can free up some cash quick.
25 Expenses You Can Cut RIGHT NOW When Financial Crisis Hits
1. Lawn care.
If you have someone cut, water, or care for your lawn and garden, now is the time to do it yourself. You can easily save $50 a week or more by eliminating this expense. Plus, you get some great exercise.
2. Fitness coaches.
Seeing a personal fitness instructor is great for your health, but not your budget. Now is the time to let go of fitness coaches, gym memberships, and yoga classes. Work out at home for free.
A weekly manicure can cost $25 and up. Now is the time to skip the salon and do your own nails at home. There are many affordable and salon quality products out there waiting for you to try!
The stylists won’t like this suggestion, but at $50 and up a pop, this isn’t in the budget right now. Go to a cosmetology school for inexpensive haircuts instead or try box coloring for the time being.
5. New clothing.
Now is not the time to add to your wardrobe. If you absolutely need another item of clothing visit a local consignment or thrift shop. You can also sell items you no longer wear to consignment shops for some extra cash.
These days, cable is upwards of $100 a month. Cut the cable and instead opt for free local channels and supplement with movie and television show streaming from services such as Netflix or Amazon Prime.
7. Car washes.
Do you belong to a monthly car wash club? Now is the time to drop it. Clean and vacuum your car yourself at a DIY station for just a few quarters a pop.
8. Dining out.
A meal at a sit-down restaurant can now run $50 a couple or more. Now is the time to practice your cooking skills at home. The internet is full of easy, budget friendly recipes simple enough for anyone to make.
9. Fancy coffee.
A financial crisis means no more $5 a pop coffee drinks. Make your own concoctions at home instead. $5 a day saved over the course of the week is a whopping $35!
There is no reason to subscribe to magazines when you can find everything online. Drop your magazine subscriptions and opt not to renew to save $20 and up per year.
11. Satellite radio.
There are many free music streaming programs and apps out there, so now is the time to let go of the satellite radio subscription at $100+ per year.
12. Box clubs.
Do you belong to monthly beauty or food box clubs? Sorry, now is the time to let them go. At $15 and up per month, you can easily save some cash by letting go of this fun but unnecessary luxury.
This might seem like a given but it is worth saying. Now is not the time to be buying lottery tickets. Even $5 worth of tickets here and there adds up, and your chances of losing are much higher than your chances of winning.
14. Credit card interest.
While you can’t ditch your interest completely, now is a good time to call and negotiate your interest rate. If you have paid on time they might lower it a few points which saves you cash each month.
15. Your cell phone plan.
Now relax, I am not telling you to ditch your cell phone. But now is a good time to call and negotiate your monthly rate. If you have paid on time they might lower it a few bucks.
16. Work lunches.
Now is not the time for lunches out. Pack your lunch instead and you can easily save $10 or more per day. Need ideas? Head to Pinterest, baby!
17. Switch to cloth.
No more buying napkins and paper towels. Instead, switch to cloth so you can use it and reuse it, and not continue to rack up additional expenses.
18. No more soda.
Soda is pricey and adds up over the course of a week. Instead, drink water and see how much youc an save AND how much better you will feel.
19. No more snack sized ANYTHING.
Skip buying any prepackaged, prepared, or snack sized anything. It costs more for the convenience. Skip these items and instead buy in bulk.
20. No more buying books.
With libraries and all of the free books you can download on Amazon, there is no reason to be paying $10 and up for books right now. Use one of these options instead.
21. Drop the club memberships.
Do you belong to a country club or other local club/chapter? Now is the time to cancel that membership and put that money to use elsewhere.
Now is the time to get your hands dirty. Don’t pay for housekeeping and cleaning and instead grab the mop and do it yourself. There are many free printable checklists online you can follow to get the job done quickly.
Skip the spa visits, facials, Botox, and other skin treatments. Use one of the many effective over the counter items instead as this is a luxury that can be costly.
This is a win/win because not only will you save as much as $8 a pack, but you will be healthier! During a financial crisis, see if you can give up cigarettes and not only save money, but your health as well.
At as much as $12 per ticket, now is not the time for movie theaters. Instead, opt for a cheap RedBox rental, an online streaming service, or a movie from the library.
A financial crisis is never fun, but the truth is you have options. Give these 25 expenses you can cut now should a financial crisis hit a try, and you can free up cash quickly and easily.