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Agatha Singer

Ways to Save Money on Your Monthly Outgoings

May 14, 2021

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If the last 18 months have taught us anything it is that we need to look after our finances as we don’t know what is around the corner. With many people losing their jobs due to the pandemic, keeping a close eye on your budget is a good idea. While you may have sorted out your investments, you may now wish to cut spending so you can continue to set money aside for either emergencies, treats, or your retirement fund.

Throwing money in piggy bank

Below are some ways you can save money without making it feel like you are living on a budget.

Food

One of the ways you can cut back on your food bill is to reduce the number of times you eat out. The average price of eating out depends on your location, so think about making dinner several times a week and only going out on special occasions. If you do wish to go out you could decide to go to restaurants that reward you. Check out the Rewards Network reviews which will tell you everything you need to know about earning rewards while eating out.

Subscription Services

An easy way of saving money is to look at all your subscription services and stop the ones you no longer use. This can be anything from TV services to music entertainment. Go through your bank statement and see what you are paying for and what you can get rid of.

Switch to Paying in Cash

Switching to pay for items in cash such as food and clothes shopping will help you cut back on your spending. Using cash places a limit on how much you can spend and is a practical way of reducing your outgoings. This is extremely useful if you have found yourself going to buy milk but coming out with things you really don’t need!

Take on the Big Expenditure Items

There are bigger items that you pay for each month such as your mortgage or rent. Sit down and write out what these are and see if you can get a better deal. You may need to speak to a professional financial expert but it would be worth it to save money on the biggest items of expenditure you have.

Pay off Your Debt

Debt can take up a huge amount of your monthly outgoings. If you have debt, work to pay this off as quickly as you can. Making interest payments each month can mean your monthly income is reduced and if you get into trouble it can cause problems. If you can’t pay it off quickly then consider moving your debt to somewhere with a lower interest rate. Taking these steps will help you free up some of your cash.

Cut Spending in Every Category

Writing down all expenditures will give you a clear idea of where your money is going. Try and reduce expenditure in every category by making small changes. This could mean saving $5 to $10 in each area but over a period of time that will add up. Small changes can make a huge difference to your expenditure each month.

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About Me


Hi and welcome to my blog! I’m Agatha Singer, a former 9 to 6 business & finance consultant and current work-from-home mom of two awesome little nuggets. Join me in my journey to a perfect balance between my family and personality.

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