5 Quick Ways to Tighten the Budget

Here are 5 quick and easy ways to tighten up the budget at the end of every month!

We have all been there.  Its late at night, you’re reviewing your budget just to realize you have spent slightly more than you expected on a few categories.  If you are anything like me, you are probably reflecting on all the delicious restaurant food you had earlier in the month, or thinking about that extra latte you got on your drive in to work… a few times.  If you can relate, then you are in the norm, trust me! When I find myself staring at my budget at the end of the month, there are a few things that I do to tighten up my expenses.  Here are 5 quick ways to tighten the budget. Enjoy!

1. Drop the drive-thru coffee

First and foremost, drop the $6 cappuccino. 

Look, we all do it.  If you are a modern American, you are in the majority here.  But the honest truth is, if you have a coffee maker at home, you can save a surprising amount of money just taking your homemade coffee into work.  Yes, the flavor and caffeine content may taste better from the drive-thru, but there are a few things you can do to overcome this. 

First, if you are able, set up your coffee to auto-brew the night before.  This will make you feel invested for the following morning. 

Second, next time you are at the grocery store, change up your creamer or sprinkle some ground cinnamon on top to jazz it up!  If you are able to drop the drive-thru (caffeine) habit, you can often save between $20-80 dollars a month (or more).  Further, these drinks tend to have a higher caloric content if made “as is.”  Save the extra money, dump the extra calories and make your coffee at home.  Your wallet will thank you.

2. Meal prep

Sundays in The Motivated M.D.’s household are always meal-prep night.  You know what they say, “never grocery shop on an empty stomach.”  Indirectly, I seek to affirm this point. 

I often find myself grabbing unnecessary items when I shop.  I would not say I do this with premeditation, but predominantly from sheer interest and indifference. 

However, when my wife and I finally put our feet down, we made a change.  We decided that Sundays would be the day we meal-prep for the week.  This has been wildly beneficial for a myriad of reasons. 

If you are creating a grocery list around a meal that requires cheaper ingredients you can buy in bulk (nod to Costco) then ultimately you save on meals in the long run.  For instance, make a chicken dish in your crockpot and cook enough to last for 5-7 servings.  Theoretically those are meals you are not spending at restaurants or fast food.  Normally, my wife and I create our grocery list on Sunday mornings, built around what we planned to mass-produce for the week.  As long as you hold yourself accountable and bring those meals into work every day, I assure you there will be extra money in your budge by months end.

3. Cut the cable…some more

I would say it is relatively common place these days for individuals to not pay for cable television and primarily stream their television.  With that said, at the end of the month, review the TV streaming services you have subscriptions to. 

Are there any you never, or rarely utilize?  If so, cut your losses and cancel your subscription. 

Another example is football season.  My wife and I enjoy watching college football, as well as professional football during the season, however we rarely have a dog in the fight.  With that, we often cancel our Youtube TV subscription (approximately $64.99/month) after just a few months.  Do you routinely watch HBO Max? Disney Plus? Apple TV? Peacock? Etc.  If anyone of those can be dropped, do it.  

4. Stay at home dinner-dates

This one is pretty self-explanatory, but worthy of making the list none-the-less.  Cancel the reservations and cook at home.  I have had many a fine dining experience with my wife at home where we likely saved $100-200 dollars by not going out. 

Look, as someone who loves experiencing new restaurants, this can be a sacrifice for sure.  I am not saying cut out fine dining completely, but is one less outing going to kill you? No.  I will add, some of my most enjoyable time staying in and cooking for “date night” is the preparation.  I cannot tell you how many great conversations my wife and I have over a cold beer, an old-fashioned, or great glass of wine while we are slowly cooking together. 

Here is the take away, start by replacing just one of your dinner outings by cooking in and see what you save.  It will be good for your wallet, your stomach, and your marriage. 

5. Pay attention to drive times

Make the most of your gas (or electric) when you are driving.  Pay attention to when traffic is at its worst in your area and plan your commute around these times. 

Do you need to leave slightly earlier for work than normal?  Do you need to just kill 10 minutes before you drive home?  Is there a more efficient route?

It sounds a little extreme, but truly if you can avoid a traffic standstill routinely on your transport, this can save you plenty at the pump (or electrical outlet).  I tend to be an early bird, and my travel in the morning is all but deserted.  There are occasions that I have to leave later and it is during these times that I witness exponential traffic delays that normally I avoid.  These delays can add between 15-30 minutes or more to my commute.  Time is money.  Are there alterations you can make to your commute (if able) that may allow you to have smoother transit? 

Take home points

There you have it, our 5 quick ways to tighten the budget! I fully recognize that some of the items I have mentioned previously may bring you joy.  I am with you 100%.  These are easier said than done.  A well-placed date night can work wonders for the human psyche, so take everything in stride.  Start by trying just one of the above and tell me how it worked for you!  If you want more helpful information like this, make sure to check out our article 6 Tips for Staying Productive. I hope you found this helpful, and as always…

Stay Motivated!

The Motivated M.D.

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