Have you ever taken the time to audit your monthly expenses? I know it’s not exactly fun, but blimey, I can’t believe some of the things I found when I did. And when I added up all the little things coming out of my bank account each month, I couldn’t believe the total.
It’s so easily done, though. Ten bucks here, twenty there, and before you know it, you’ve reached a hundred and fifty. Trust me, it doesn’t take much.
But when I actually sat down and analyzed it, I realized I could save enough for a week’s vacation if I monitored my expenditure a little bit better. So, if you’ve suddenly found yourself without kids living at home and want to see where all your money is going when you can’t blame it on them, I highly recommend you spend an hour or so auditing your outgoings to save yourself some money.
Here are seven things I’ve done that have already saved me a fortune in the last 12 months.
No. 1 Monthly Subscriptions
These guys are a killer because they’re usually small, so you don’t notice them. But when you take the time to go through your bank statements, which I never used to do, you’ll find them hiding there. And don’t just go through one statement. Some of these subscriptions renew quarterly or yearly.
I discovered a yoga app subscription that had been charging me nearly $200 for the past three years. I’d signed up for a month-long trial and forgotten to cancel it. I must have pressed the yearly button rather than the monthly, and hey presto, over three years, I’d spent the best part of $600.
Moral of the story? Check every single thing you’ve subscribed to on your phone. Apps are usually the culprits. But be honest with yourself and don’t forget that gym membership you’ve had for X years but only used once.
No. 2 Sales & Adverts
Up there with monthly subscriptions are sales and social media adverts. Be honest, how many times, when you’ve scrolled through Facebook or one of the others, have you been distracted by an ad promising you something amazing? I am definitely guilty.
Sadly, most of the stuff I’ve bought has either not arrived or not been anything like the thing advertised. Each time I promise myself I won’t do it again, but I invariably do. Plus, when you try to get your money back, it’s beyond stressful, and you don’t seem to get anywhere.
It’s the same with sales or FOMO emails. You know the ones. They usually say something like, “Only 24 hours left to get this amazing thing.” Don’t fall for it. They’ll be selling them again next month for the same price, if not less. It’s the oldest trick in the book.
And as for Amazon deals, these are the worst culprits for me. Seriously, ask yourself before you enter your credit card details, do I really need this, or will I have forgotten all about it in a few weeks? Learn to say “no” and add it to your vacation fund.
No. 3 TV Streaming Service
These ones can easily save you a thousand dollars a month. I kid you not. Between Netflix, Amazon, Disney Plus, Apple TV+, Sky, Sports, Paramount, and Hulu, I was spending just over £150 a month. A couple of them I’d only subscribed to so I could watch one specific program, Ted Lasso, I’m looking at you!
Turns out, if you’re smart about it, you can get most of these in your home Internet and Phone package. There are always deals of some sort to be had, so stop subscribing to them all individually and save another thousand. Obviously, your package is still going to cost money, but I saved $97 a month when I cancelled all my individual plans.
I also realized that some of the things I wanted to see were available on YouTube, and I could watch them on my laptop and mirror it to the TV. I have to give my daughter credit for that one, as it would not have occurred to me to look on YouTube.
No. 4 Takeouts and Eating Out
This isn’t so much of a problem for me anymore because I live in the middle of nowhere in rural France. But, before the move, we’d have take out at least three times a week. Stop doing it. They aren’t cheap, they aren’t healthy, and they stop you from getting creative in the kitchen.
Now I’ll admit, I’m not the greatest cook in the world, but I now enjoy winding down after work, cooking a meal from scratch. No, they aren’t complicated meals, but they usually have fresh ingredients, and I put on some music and zone out while I’m doing it.
Of course, some days call for it. Those days when you’re exhausted or it’s Friday and you want a treat. I’m not saying you want to take all the fun out of life, but by limiting yourself, you’ll be amazed at how much money you save.
It’s rare that takeout is less than $30 or a meal out is less than $50, and yes, I’m being generous. So if we add up two takeouts at $60 and a meal out at $50, that’s a total of $110 a week, a whopping $440 a month on a four-week month. Just saying.
No. 5 Food Waste
I was absolutely guilty of this, until I discovered the power of the weekly menu. It leads on nicely from takeouts because rather than planning them in, we’d do them spontaneously, forgetting about the food in the fridge. Now, rather than picking things up randomly when I’m shopping, I have a list with a planned menu.
It’s so easy and makes it much simpler. Every Saturday morning before I go shopping, I plan out what we’ll eat for the following week, taking into account any evenings out or events that might be going on.
My food bill has come down hugely since doing this. How? Well, for a start, I know exactly what I’m buying rather than picking up things I fancy without a plan. Plus, now that there are only two of us since the kids have left home, I make a big dish at least once a week that we can have two nights running. It saves me a fortune.
No. 6 Credit Card Interest
I used to have four different credit cards, all with different interest rates. Three of them didn’t even offer rewards. The reason was simple — sometimes one of the kids would “borrow” a card and forget to give it back, and I’d need another for something else.
But those cards were costing me a fortune in interest. So, I ditched three of them and rolled everything into one card that gave me six months interest-free plus miles.
To put the cost into perspective, a $7,000 balance on a card charging 20 percent interest racks up about $1,400 a year in interest alone. That’s money straight out of your pocket without touching the actual balance. If you only pay the minimum each month, you’ll be stuck paying it off for years, with most of your money going toward interest rather than shrinking the debt.
No. 7 Cut Your Utility Bills Without Sacrificing Comfort
Heating, cooling, water, and electricity costs aren’t set in stone. The way you use them makes a big difference, and don’t I know it now the kids have gone. Our house resembled Blackpool illuminations most of the time, with almost every light left on. And don’t get me started on the shower. My daughter would have 30-minute showers without a thought for the cost.
Simple changes like turning the thermostat down a notch, swapping to energy-efficient bulbs, sealing up drafty windows, and unplugging unused electronics can easily trim $25 to $35 from your monthly bill. That’s around $350 a year back in your pocket.
Small tweaks such as weatherproofing and making the most of energy-efficient appliances have been shown to deliver real savings without costing a fortune to implement. Many are one-off jobs you can do in a weekend.
Lower utility bills don’t just leave you with extra cash — they also cut your environmental impact. That extra $30 a month could go toward building your savings, paying off debt, or even treating yourself. It’s not about earning more, it’s about using what you have more wisely. Here are three things I found helpful when trying to save money on my utility bills:.
- Switch to a smart thermostat – Program it to lower heating or cooling when you’re asleep or away, then bring the temperature back up before you return.
- Wash clothes in cold water – Modern detergents work just as well without hot water, saving on energy costs.
- Use power strips for electronics – Turn them off with a single switch to stop “phantom” energy drain from TVs, chargers, and gaming consoles.
Disclaimer: The content in this article is for informational purposes only and is not intended as financial, investment, or tax advice. Always consult a qualified financial advisor or tax professional before making decisions about your money, investments, or retirement planning.
Kylie Lang is a nationally syndicated travel journalist with bylines on the Associated Press Wire & more, a lifestyle writer, and the founder and editor of Your Lifestyle Library (yourlifestylelibrary.com). She holds a BA (Honours) in History from the University of Kent and is a member of the British Guild of Travel Writers.