HUGE Win last night - $70/month in savings from an hour of easy work

[Douggyfr3sh]

Hey Everyone!

I wanted to share some ways I cut back my monthly expenses last night, as I think this could be useful and apply to a lot of people.

It had been a while since I really looked through my monthly recurring expenses at a granular level to analyze what I was spending on.  I have been more active lately in the FI community and have been feeling motivated, so I sat down to see if there were any easy ways for me to save and optimize my budget.

With an easy hour's work, I made a few very small changes and cut my monthly expenses by $70!!  I didn't have to give up anything, my life will not change in any way.

Here's what I did:

• Reviewed my car insurance.  I had a bunch of coverage I didn't even know I had.  I reduced my rental car coverage slightly (didn't even eliminate it) and increased my deductible by a small amount for collision coverage.  (If you have Geico, making these types of changes is quick and easy online) Monthly Savings: $7
• Cancelled my membership to UpWork Plus.  This is a freelancing platform and I am not currently actively looking for freelance work, so I wasn't even using it.  Monthly Savings: $14.99
• Cancelled Spotify.  I love spotify, but was paying for YouTube Premium at the same time, and that now comes with YouTube music.  I don't need both, and I love the offline viewing features of YT premium, it is awesome for DIY videos.  Monthly Savings: $9.99
• Looked into my wireless bill.  I was paying for an unlimited data plan and had convinced myself that I needed it.  I looked through my usage history and the most I have ever used in a month is 8.5GB, with the average more around 5-6GB.  I switched to the Mint Mobile 12GB data plan and reduced my payment from $60 to $27 incl. taxes and fees.  (To get this lower rate, you have to pay for a year of service with Mint up front- total cost $327).  Monthly Savings: $32.75
• Cancelled my "starter store" sub on eBay.  A while back I was trying to sell a bunch of stuff but have no need for the perks of this plan any more.  Monthly Savings: $4.95

I hope someone reads this and is able to save a few bucks by taking one of these actions!

How else are you all achieving small wins and aggregating marginal gains?

My next step is to figure out how to sustainably save a lot on groceries while still eating well.  I'm not a rice and beans guy, I enjoy a good steak once in a while and cutting out good food isn't worth the savings for me, but I feel like I could be doing a lot more in this area.

[NotBadForADad]

How is coverage for Mint?

[Douggyfr3sh]

I have not started to use the service yet, but based on reviews it seems excellent.  I believe they use LTE network.

[APowers]

I have used Mint for about three years now. Coverage is on the T-Mobile network-- generally pretty great except for rural, middle of nowhere areas (e.g., inside large national parks, or mountain back roads, etc).

[parkerk]

For ideas on how to reduce your grocery bill check out APowers' "Have a sub-$200/month Grocery Budget" that's stickied in this subforum.  The strategies on how to reduce your spending are sound no matter what you're buying (like setting a price point above which you don't buy certain things, how to store items when you're stocking up on sales, timing the sales cycle for your local stores, etc.) so don't be scared off when you see some of the "rice and beans" type meals in there.  The principles can be applied to pretty much any budget level or eating style.  It's been hugely inspiring for me!

[Douggyfr3sh]

For ideas on how to reduce your grocery bill check out APowers' "Have a sub-$200/month Grocery Budget" that's stickied in this subforum.  The strategies on how to reduce your spending are sound no matter what you're buying (like setting a price point above which you don't buy certain things, how to store items when you're stocking up on sales, timing the sales cycle for your local stores, etc.) so don't be scared off when you see some of the "rice and beans" type meals in there.  The principles can be applied to pretty much any budget level or eating style.  It's been hugely inspiring for me!

Awesome, thank you!  I will definitely take a look at that.  My grocery spending currently is averaging around $450+, so cutting that in half would be awesome and a very welcome change!  I am buying for two, by my fiance' also pays for all of our snack type items and household supplies like paper towels and some other odds and ends, and we should be able to get below a total of 450 combined for everything.

[kpd905]

Since you mentioned that you have Geico, are you getting the membership discount?  You may already have it through a professional association or by owning Berkshire Hathaway stock.  If not, you can join the Freelancer's Union online for free: https://www.freelancersunion.org/register/?next=/resources/discounts/geico/

You should get up to an 8% discount on your Geico bill.

[Douggyfr3sh]

Awesome thank you!!! I will go ahead and set that up.

PS- my Mint Mobile order came with a second SIM card that contains a 7-day free trial to their service.  Would anyone be interested in that?  If anyone wants it PM me.  I would be happy to give it away, but only ask that you cover shipping costs.

Thx!

[Chris Pascale]

Excellent job.

[Dicey]

The Frugalwoods, love 'em or hate 'em, do a 31-day uber frugal challenge twice a year, but you can do your own any time you'd like. You have made a great start and you're sure to find even more money saving ideas here:

https://www.frugalwoods.com/category/uberfrugalmonth/#:~:text=You%20can%20sign-up%20for,own%20whenever%20you'd%20like.

[okisok]

How is coverage for Mint?

I've had Mint for a month now, and the coverage seems excellent. We took a trip to the Rocky Mountains and in many places, mine was the only phone that had coverage. (The other four had AT&T.) It also works in my parents' very rural, hilly area where their Verizon coverage doesn't always work. Loving it so far!

Great job on the savings! I did this a few years ago and saved $36/month. Then I set up an automatic savings withdrawal each month for that amount so that it wouldn't get absorbed. Now that I've saved $41.08 per month with Mint, I have that amount transferred into savings each month.

[chuckster]

How is coverage for Mint?

I've had Mint for a month now, and the coverage seems excellent. We took a trip to the Rocky Mountains and in many places, mine was the only phone that had coverage. (The other four had AT&T.) It also works in my parents' very rural, hilly area where their Verizon coverage doesn't always work. Loving it so far!

Great job on the savings! I did this a few years ago and saved $36/month. Then I set up an automatic savings withdrawal each month for that amount so that it wouldn't get absorbed. Now that I've saved $41.08 per month with Mint, I have that amount transferred into savings each month.

I have the minimal Mint ($15/mo) and am probably switching to T-Mobile's prepaid (also $15/mo). Slightly better customer service? And I'm hoping for slightly better reception. Mint piggybacks on T-Mo's towers, but, at the lowest priority. T-mo will prioritize their own customers over MVNO's.

Of course the second that T-Mo goes above $15/mo I'll be back on Mint.

[Poundwise]

Great job paring down your monthly bills!! So satisfying.

I changed my son and myself over to Mint two years ago while my husband stayed on Ting.  We've been mostly very happy (mostly East Coast metro area) though coverage in MT was spotty. If you would like a referral I am happy to post it ($15 off your renewal).