13 Monthly Expenses You Can (and Should!) Eliminate Today

When money is tight, keeping track of your spending is very important. It may seem hard to believe, but even when you’re focused on paying your bills, some of them can be put off for later, or even gotten rid of completely.

Here are 13 monthly costs that you can reduce to get your finances back on track, so you can use that money for things you need more urgently.

Let us know if we missed any.

Cable TV: An Outdated Expense?

The growing popularity of streaming platforms has made conventional cable TV, which can cost between $50 and $100 monthly, a luxury many no longer require.

If you rarely watch cable, consider canceling your subscription and moving to cheaper streaming alternatives or free services like Pluto TV. This change could lead to yearly savings of $600 to $1,200.

Unnecessary Premium App Subscriptions

In today’s world, apps try to tempt you with special features if you pay for a premium subscription, which can cost anywhere from $10 to $50 each month. But, many of these apps don’t really give you benefits that are worth the money.

Take a look at the apps you’re subscribed to this month. Chances are, you’ll discover at least one that you don’t need to keep paying for. Canceling it could save you between $120 and $600 a year.

Redundant Paid Streaming Services

The appeal of streaming platforms like Netflix, Amazon Prime, and Apple TV is clear, but the combined expense of $7 to $25 each month for each service can be considerable.

You might want to think about cheaper or free options like Tubi or YouTube, which have big collections without the big costs, and could save you $120 to $480 each year.

Meal Kit Subscriptions: More Costly Than Cooking?

Convenient meal kits, priced between $50 and $100 each month, can be a burden on your wallet.

Regain command of your eating habits and money by planning meals and preparing food in your own kitchen. Using unprocessed ingredients, which are typically more nutritious and economical, could lead to yearly savings of $600 to $1,200.

21 Everyday Items You’re Probably Paying Too Much For 

Unused Gym Memberships

If your gym card is gathering dust, it might be time to cancel that membership, which can cost around $30 per month on average. Fitness doesn’t require hefty monthly fees.

Explore no-cost options like outdoor activities, home workouts, or community fitness classes that keep both your body and wallet in great shape, saving you up to $360 annually.

Overpriced Pet Insurance

Pet insurance can be a financial drain, costing $23-$48 per month for dogs and $15-$24 per month for cats, especially if it doesn’t cover pre-existing conditions or if your pet is generally healthy.

Instead, consider setting aside money for a pet health savings fund or explore preventive care plans, saving you $120-$360 annually.

Excessive Delivery Services

Convenient as they are, regular subscription services that charge $10–$30 each month can make you spend too much.

Take a look at how often you use these services and think about reducing them to cut back on these easily missed costs. This could save you $120–360 every year.

Questionable Value of Extended Warranties

Retailers often promote extended warranties at a cost of $10-$50 per month, but the benefits rarely outweigh the expense, especially if the item is already covered by the manufacturer’s warranty.

Always read the terms carefully before opting for additional coverage to avoid unnecessary costs, potentially saving you $120-$600 annually.

Costly Financial Management Tools

Budgeting and savings apps can be useful; however, their fees, which range from $10 to $50 monthly, can accumulate quickly. Seek out complimentary financial management resources that provide comparable features without the significant expense, potentially saving you $120 to $600 each year.

These free alternatives let you manage your finances effectively while keeping more money in your pocket.

Overdraft Fees: An Avoidable Expense

Answer With some banks imposing substantial overdraft fees of $20 to $50 each month, it’s smart to change to a bank providing minimal or no overdraft charges and improved low balance notifications, which could save you $240 to $600 per year.

This simple switch can also give you greater peace of mind.

Premium Car Wash Memberships

If visits to the car wash are infrequent, you might want to cancel any ongoing memberships costing $10-$30 per month.

Washing your car at home or opting for less frequent professional cleans can significantly reduce your expenditures, saving you $120-$360 annually.

The Outdated Landline

In an era dominated by mobile phones, paying $20-$50 per month for a landline can be redundant.

Consider relying solely on your mobile phone to cut down on unnecessary bills, potentially saving you $240-$600 annually.

Expensive Credit Monitoring Services

Keeping an eye on your credit is a good idea, but shelling out $10-$30 each month for a credit monitoring service might not be the best move.

Lots of banks and credit unions provide credit monitoring without charging you, and you can also get your credit reports for free each year. By using these free options, you could save $120-$360 every year.

How To Save Money On Monthly Bills

By reassessing these expenses, you can streamline your budget, focus on essential spending, and save money. Remember, every dollar saved is a step closer to financial resilience and independence.

Embrace these changes and watch your financial health transform.

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