Where To Cut Expenses

rosajaviersales
Jun 20, 2023
3 min read

Updated: Dec 24, 2025

Today's blog post continues our previous discussion on "Visualizing Financial Habits." After analyzing our daily financial habits, let's explore practical strategies for reducing costs.

Disclaimer:

Please keep in mind that I am not a financial advisor, I am not a lawyer, and I am not your real estate agent. The information you will see below are examples from my personal and professional experience. I hope these examples provide you with ideas on how to take action in your own life and serve as conversation starters with the professionals who are currently or will be assisting you in reaching your goals.

Where To Cut Expenses

1. Cloud Storage: Consider a portable hard drive instead of paying for online storage.

2. Phone Bill: Opt for autopay and check with your provider for potential savings.

3. Gas Utility Bill & Electric Bill: Explore Budget Billing options for consistent monthly payments.

4. Car Insurance: Inquire about discounts and consider factors like online policies, autopay, bundling, and more.

5. Internet Bill: Invest in your own modem and router for long-term savings.

Contact your insurance provider and inquire about the following items listed below. While not all insurance companies offer discounts for these, many do. Potential discounts:

Buying policy online: Shop for quotes online and pick the best one
Autopay
Bunding insurances: Have more than one car?
Energy efficient car: Own a hybrid or electric car?
Good Student: Are you currently in school? High school or college/university?
Member of the military
Good driving record
Sign up for a safe driving program: Not all insurance providers offer this. However, there are many who do. There’s no harm in asking the insurance company if this could be a potential discount.
Take accident prevention course
Annual payments: If you can afford this, this can be a great option to save on monthly payments.
Going paperless
Improve your credit score
Did you know that insurance companies look at your credit score?
Mileage discounts
Do you work from home? Let your insurance company know!

Internet bill: Invest in purchasing your own modem and router. While it may require an initial investment, you will soon start experiencing monthly savings.

Go to the company’s website to see the compatible modem and router models
Then go to the Facebook marketplace to find a match.
Ebay is also a very good option
Try to negotiate the price down a bit
This approach will potentially reduce your monthly internet bill by approximately $10 to $20.
If you choose to pursue this option, be prepared for an investment ranging between $300 and $450. The objective is to retain and utilize the same modem and router for multiple years.

Other Ideas To Save Money

Evaluate subscriptions and cancel unused ones.

Watch Wendy De La Rosa on TED for effective financial decision-making.

Remember to review your statements regularly to manage expenses effectively. Dedicating more income to debt repayment than savings can be crucial, and even a small additional amount toward loans can accelerate payoff time.

Other sources to look into for ideas:

Wendy De La Rosa: A social scientist that works to help people make more effective financial decisions. You can watch her on www.Ted.com

https://www.ted.com/speakers/wendy_de_la_rosa

Up Next…

Stay tuned for our next blog, where I address ways for those below the poverty line to seek assistance. It's a judgment-free zone to empower you to ask for help and make better financial decisions. I, having grown up with limited resources, aim to assist you in breaking free from financial constraints and achieving your dream of owning a home. Join me in part two of this important conversation. I look forward to discussing it with you soon!