Eliminate Monthly Costs

Written by Jenna Trollope


Do not worry, I am not suggesting you spend nothing. Please pay your rent and your phone bill, but try to eliminate any monthly expenses you do not need.



I have a lovely former roommate who could not live without her monthly Ipsy bag. For those unfamiliar, this is a monthly subscription that sends you a bag of makeup samples. She loves makeup, and she would purchase makeup at full price so $10 monthly allows her to try new products at a reduced price. My current roommate was frustrated with Ipsy. According to her, they send her products she doesn’t need and charges her for it.


For the former, the Ipsy subscription is worth the expense. For the latter, this is an expense that doesn’t offer her enough value. Go through all your monthly expenses and determine which ones you do not need and cut the cost. A few dollars here and there may not seem like much, but if you spend $5 on a frappuccino every day before work, that adds up to $1300 a year. Those little charges add up over time, so if it isn’t worth it to you, use the money on something worthwhile.


Some regular expenses are fixed, such as your rent or your mortgage payment. Other expenses are a little bit more flexible. When was the last time you investigated a new cell phone plan or internet provider? Many companies will try to steal you away from their competition by offering great introduction prices, and you see your bill skyrocket after the first few months. However, it costs companies a lot less to keep a client rather than gain a new one and we can use that to our advantage.


Research takes time, but it can save you lots of money. Compare cell phone plans, internet providers, car insurance companies and anything else you know you need to pay. Sometimes you will find a great deal elsewhere and switch or you can negotiate your current plan down to match those prices. Other times, you will be able to bundle your services to cut costs. If you save $20 monthly, that is $240 a year in savings which is probably more money than you make in your “high interest” savings account.


The goal is to eliminate expenses you do not need, save on expenses that you need but you can get for a better price, and have more money to save and invest at the end of the month.

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