Editor: Crass Cash
The end of 2014 is coming up to a rapid end. Time to start looking forward to 2015 and to see what expenses can be cut and changed.
When doing this it's best to classify expenses into two different categories: needs and wants. Needs are things that you have to have. Food, utilities, clothes, transportation, insurance, etc. Wants are luxuries like going out to eat, entertainment, travel, gifts, alcohol, etc.
However, within those categories adjustments can be made. You can completely eliminate the wants. You can also minimize the needs. You need food, but that doesn't mean you get the artisan goat cheese log from Whole Foods. It also doesn't mean that you need to eat crappy processed food in order to save a buck. There are literally a thousand different websites and books that deal with nothing but how to eat healthily on a budget. Same with clothes. I shop at goodwill, but I buy my socks and underwear new. I'm not budging on that either! Yes I may look borderline homeless, but it keeps people from asking me for money. If you pay $50 for a t-shirt, you're a dumbass!
With that said, I'm going to go through my needs and wants to decide what to cut or minimize. I've gone through what will be cut and here it is...
Netflix - all entertainment will be from the library
Cable - I hate cable, but one of my roommates requires it. If he leaves this year it will be disconnected for a savings of $20 a month.
Cellphone - I think this is a need in today's world, but I can cut $20/month when my contract renews in January.
Food - I plan to cut $25 off the grocery bill each month.
Entertainment - I have a list of 206 books to reach a huge video selection at the public library.
Medical - My invisalign will be up, so that'll save a ton even with my health insurance going up.
I figure all of these will allow me to shave an extra 5% off of next years budget. What will you cut??
When doing this it's best to classify expenses into two different categories: needs and wants. Needs are things that you have to have. Food, utilities, clothes, transportation, insurance, etc. Wants are luxuries like going out to eat, entertainment, travel, gifts, alcohol, etc.
However, within those categories adjustments can be made. You can completely eliminate the wants. You can also minimize the needs. You need food, but that doesn't mean you get the artisan goat cheese log from Whole Foods. It also doesn't mean that you need to eat crappy processed food in order to save a buck. There are literally a thousand different websites and books that deal with nothing but how to eat healthily on a budget. Same with clothes. I shop at goodwill, but I buy my socks and underwear new. I'm not budging on that either! Yes I may look borderline homeless, but it keeps people from asking me for money. If you pay $50 for a t-shirt, you're a dumbass!
With that said, I'm going to go through my needs and wants to decide what to cut or minimize. I've gone through what will be cut and here it is...
Netflix - all entertainment will be from the library
Cable - I hate cable, but one of my roommates requires it. If he leaves this year it will be disconnected for a savings of $20 a month.
Cellphone - I think this is a need in today's world, but I can cut $20/month when my contract renews in January.
Food - I plan to cut $25 off the grocery bill each month.
Entertainment - I have a list of 206 books to reach a huge video selection at the public library.
Medical - My invisalign will be up, so that'll save a ton even with my health insurance going up.
I figure all of these will allow me to shave an extra 5% off of next years budget. What will you cut??
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