5 Simple Ways We've Cut Our Family's Spending This Year

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At the beginning of this year, my husband and I agreed that we'll stick to a more serious monthly budget. I know it's easier said than done. We do love eating out, going on spur-of-the-moment travel getaways and doing "unnecessary spending" like stopping by Starbucks for a $4 latte at least three times a week on the way to work. Those things can really add up fast. So this year, we have been really committed and making conscious efforts to cut back our spending, especially on things we could do without. Here are ways that we've been saving money and how we've cut back on some of our expenses this year:

1. Tracking our spending each month on the necessities. Mortgage, insurance, food, and utilities are essential. And these are things that need to be paid for, especially insurance, as you may never know when you will need it. Shopping around for your insurance could be vital in finding the perfect plan for you. These are considered to be our necessities. But we were able to cut back on our home entertainment by cancelling some add-ons on our home cable service. If you're in Wisconsin, ThinkSaveRetire breaks down the cheapest car insurance, including average costs, top low-cost insurers, age-based rates, credit impact, and ways to save, to help you secure the best coverage for your budget.

2. Making a shopping list and sticking to it. It's so easy to get lured by the nice things when you're at the store. But the best way we do this is to stick to our list and leave the store as soon as we get all the things we need. Another positive side to this is that we also save money on gas because we don't make as many trips to the store anymore.

3. Packing lunch for work. It's not the most enticing option, but you'll be surprised at the amount of money you can save by bringing lunch from home instead of eating out each day. This is so true for our family!

4. Doing minor repairs and small home updates ourselves, instead of hiring a professional. We've really managed to save money in this area. Plus, it feels fulfilling when we know we can do things around our house and not have to pay anyone to do them for us.

5. Getting expert advice from our insurance agent on the best ways to reduce costs on insurance policies. It's important for you to get insurance quotes and do plenty of research to find the best deal. For example, before we renewed our car insurance policies, we reviewed them carefully and we were surprised when our agent told us that we were qualified for other discounts. We were able to lower our annual premiums by nearly $300! Have you thought about saving money on your insurance payments lately? It's important to speak to a local insurance agent to find out how to reduce your car insurance cost, and you may be able to reduce all of your insurance products by combining them with one provider. You'll never know how much money you can save until you talk to an expert!

So what are ways you and/or your family have saved money lately? Please share!

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