Life Style Adjustments for Long Term Savings

Trying to balance your financial health in these troubling times is not an easy task and can be difficult to the point of distraction. If you don’t know much about finance but need to cut back on your expenses, the following tips should help. They’re designed to be things that just about anybody can do and that will slowly, but surely, increase your economic strength.

Cut Out the Food Delivery

During the COVID-19 pandemic, the food delivery business became even larger and more prevalent. According to our sources, about 48% of all Americans said they’d used apps like GrubHub, Uber Eats, DoorDash, or Postmates for food delivery in 2020. It was simply easier and safer than going out during a time when the pandemic was out of control.

However, it’s also getting increasingly expensive. Fees naturally increase the cost of delivery and make it more and more costly to consumers. According to Food Boss, up to 25% of your food delivery bill is some kind of service fee. Cancel your app membership and stop using these apps and cook at home instead. While it’s not as exciting, it will save you a lot of money.

Renovate Your Home

According to our sources, about 55% of all homeowners are likely to begin or continue renovation projects during this winter. That’s because these home improvement upgrades can save you a lot of money when done right. Better insulation, more efficient appliances, and other upgrades can improve your home’s energy bills and cut down on major costs.

For example, the EPA says that better insulation in a home can save up to 15% on your heating and cooling bills and 11% on your total energy usage. That would save you at least $13 per month and $107 per year. Note that these savings could be higher or lower depending on your home. Other upgrades, like more efficient appliances, can help even more.

Improve Your Diet

High medical bills are often caused by poor dietary choices, such as drinking energy drinks. According to our sources, energy drinks like Rockstar, Red Bull, and Monster can trigger twice as much enamel loss in your teeth than drinks like Gatorade. That means you’re likely to spend a lot of money at the dentist getting your teeth fixed, including up to $100-250 according to Express Dentist. The same kinds of costs (and even more) occur when eating poor-quality or unhealthy foods. Try to eat vegetables, fruits, and whole grains, while also finding meals using these ingredients that your family enjoys.

Cancel Some (or All) Of Your Streaming Services

Like most people, you probably have at least one streaming service. They’re so inexpensive that it’s hard to turn them down. However, J.D. Power reports that the average household now has up to four streaming services, with some having up to five. These services cost at least $47 per month or nearly $550 per year for the average household. Cancel services you never use to save money.

Quit at Least One Bad Habit From Your Life

While tobacco use has become much less common in today’s society, there are still a good number of smokers. Unfortunately, bad habits like these can destroy your financial plan. For example, Smoke Free estimates that smoking a pack of cigarettes every day will cost you $188 per month and nearly $2,300 per year. Cutting cigarettes out of your life will let you reinvest that money elsewhere. Furthermore, habits like drinking alcohol and vaping can also cut into your savings.

Take these finance tips into consideration to help improve your financial state and minimize unnecessary expenses in your life. It’s critical to find a financial planner who can help you with these steps because they can provide assistance and suggestions that make them easier. Reach out to a money expert today to set up a plan that makes sense for you and eliminates unnecessary spending.