Today, we’re sharing a guest post from Clare who is a money-saving author on Bargainmoose, the Canadian deals community. On Bargainmoose, you can find hot shopping deals, Canadian freebies and all the latest discount codes. Clare is going to write about her ideas on 3 monthly expenses on which you can cut, to save money in the long-term.
Although monthly expenses don’t seem like very much, they can really add up. For example, a $100 cable bill on a monthly basis equates to $1200 at the end of the year. That’s enough for a flight across the pond! Or at least a nice vacation.
Here are a few tips on some monthly expenses that you could consider cutting:
Cable (potential savings $1200 to $1800 per year)
With the advent of Netflix, Apple TV, and the Internet, there is little reason to continue paying your cable bill especially if you can access your favorite shows through the aforementioned mediums. Unless of course, you enjoy watching commercials or infomercials!
If you can’t cut cable just yet, you could try to re-evaluate the channels that you have and decide on what you need or don’t need. Do you need the two channel sets of sports (maybe?) or both the Discovery channel and the movie channel set?
Magazine Subscriptions ($50 a year)
Magazines might not seem like very much, but paying the $25 to $50 annually for your magazine subscription can certainly add up over the years.
Nowadays, you can mostly access your favorite magazines in an online format. However, like cable, if you’re not ready to cut your magazine subscription, you could consider using your Air Miles points to redeem for an annual magazine subscription.
For example, my favorite magazine MoneySense only “costs” 110 Air Miles, which can be easily achieved by going to Safeway a few times on their bonus Air Miles days.
Newspaper Subscription ($500 a year)
Another information medium that you could consider cutting is your newspaper subscription. Newspapers are quite costly: For a Monday to Saturday delivery of the Globe and Mail, it’ll cost me a pretty $483.99 on an annual basis. Unless you enjoy reading the obituaries or your favorite columnists, there are plenty of free newspapers out there where you could get your news instead. Two of these that come to mind are Metro and 24 Hours newspapers, though this will vary across the country.
Again, if you are interested in keeping with your newspaper reading, you could consider switching to the “ePaper” format (viewable on your iPad or other mobile reader). For the same Globe and Mail with an annual subscription, it costs a fraction of the price at $150 for the same content (or $15.95 per month).
Unfortunately the newspaper industry is probably a dying breed, but if we can save paper from accumulating in the landfills, switching to the ePaper format or just getting your news online may be a good idea for Mother Earth.
There are many different ways that seemingly insignificant monthly expenses can be re-evaluated and cut. With increased technology, our reliance on traditional mediums for cable, magazine, and newspaper information delivery is drastically changing.
Readers, are there any other ways you save on your monthly expenses?