There are times when our income has been significantly reduced and we need to take steps to reduce our spending. This should be a good time to immediately find an alternate source of income. It is probably a good time to immediately switch to the conservation mode. With enough efforts, we could save up to $1000 a month.
- Maid service: If we become underemployed, then guess what? We have just got a new job at home! This should be a good opportunity to clean our own house and save enough money. We don’t have to spend every second to clean the house to perfection, but we should be able to do all the basics, by cleaning bathrooms, vacuuming, dusting, washing clothes and others. We could save up to $200 per month by terminating the maid service.
- Lawn service: many households already have the right equipments in their garage to mow the lawn. If our financial condition is rather difficult, it would be a good idea to inform our lawn service provider that we won’t need their help, at least temporarily. We may try to mow the lawn during the weekend and it is possible to save up to $150 per month.
- Hair and nail: Many women prefer to color their hair and have monthly manicure or pedicure. Unless if have a big interview as salesperson, we don’t need to make our nails look fine. This could save up to $200 per month.
- Eating out: Eating out is allowed if we are networking, but it is much healthier and cheaper to eat at home. Estimated savings could reach up to $250 per month.
- Gym: It may be a good idea to cancel our gym membership, unless there’s an exit penalty. This could save up to $50 per month.
- Car and home owners insurance: Both can represent an extra expense of up to $300 per month. We could try to reduce insurance costs by taking out our insurance statements and obtain a number of quotes from different companies. Chances are we could reduce our monthly expenses by up to $75 per month.
- Phone service, Internet and TV: We may need to call our providers and tell them honestly that we have trouble with our financial situation. In this case, they could be willing to help by offering us lower packages. We could also choose Internet connection with lower overall speeds. We could save up to $50 per month.
It should be time to analyze our current spending and it should be easy to find things that we can reduce or eliminate. We should be able to save up to $1000 per month by cutting back on these areas. It is a good idea to balance our spending and try to find alternate source of income. These quick solutions will allow us to take some pressure off our wallet, although the real solution is to look a primary source of income that can provide us with so many things.