Declutter Your Expenses To Improve Your Financial Wealth
The greatest reward anyone can have is the gift of financial freedom. Do you want to learn how to gain wealth while freeing up excess clutter in your life?
Remove the excess junk.
When we surround our lives with excess, life gets stressful.
Open up space in your life, and you’ll feel much lighter. Your life becomes intentional and purposeful.
Does this sound like the life you want to live?
We have the best tips to declutter expenses while gaining financial wealth you don’t want to miss.
6 Tips to Declutter Your Expenses:
1. Cancel gym membership
How often have you been to the gym in the past week, month or year?
If it is too hard to think back that far, the best solution is to go cancel your membership.
Every month the fees of $20, maybe $40 of unused money, add up. That’s between $240-$480 per year!
Get rid of this expense and make space and time in your life for something meaningful that will give you joy.
Jess Suggests: Consider exercise at home or even outside. Either option will provide you with the same results a gym can offer and is free.
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2. Buy a water filter
We all know the importance of drinking water
Most households purchase single-use bottles from the grocery store.
The amount of water you should technically consume for optimal health benefits is 2.5 liters for women and 3.5 liters for men, according to an article written by Medical News Today.
Considering how much money you spend on bottled water every year, you will be surprised how much you spend on those expensive little water bottles.
Once you decide to move away from soft drinks, juices, or alcoholic drinks, you will see substantial cost savings on your overall monthly grocery expense and your well-being.
Jess Suggests: Install a water filter or purchasing a water purification pitcher.
3. Cancel your landline phone service
Did you know that 97% of Americans own a cell phone?
If you are part of this statistic and still pay for a landline in your house, then cancel that service.
Imagine how much money you save over the year after just getting rid of this unnecessary expense.
According to ATT, the Traditional Home Phone Line runs $42 per month on average. For one year of service alone, you will be paying $504, and that is before taxes.
Just think, if you eliminate this expense, you’ll have an extra $500, money that can be used to set up your much-needed emergency fund.
Getting rid of this expense will help lower bills.
Most of us work all day at our 9-5 jobs, and we talk on our cell phones while driving home from work or on break at work.
Jess Suggests: Cancel your landline if you already have a cellphone. You’re paying double for the same service.
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4. Shopping for trends
The best tip of all is to stop shopping for trends.
Maybe it’s a pair of shoes or a purse that we see, and we need it because it will look so lovely with the outfit we saw our friend wearing that we want to buy.
A great tip is to research capsule wardrobes. Pinterest has many ideas on how to get started and plenty of ideas to follow.
Just remember, shopping for trends might seem complicated to resist, but it is possible and takes a little discipline.
Have a spending plan and stick to it.
Jess Suggests: Instead, resist the temptation and shop smart. Buy good quality pieces that can be used with different combinations.
5. Sell your luxury vehicle
Do you own a luxury car? If you want to declutter your expenses, consider selling your luxury car.
Monthly car payments, especially luxury cars, can run the same amount as a mortgage.
Imagine this, are you a person who leases a luxury car. Does your monthly car payment cost more than or is it equal to your rent payment?
If the answer is yes, then getting rid of the luxury car might be one of the biggest luxuries you can add to your life.
If your spending plan allows for the luxury car, you sure keep it and enjoy it, but if you are looking to trim your expenses, get rid of this car now.
Luxury cars require much more money to maintain, usually have higher insurance premiums and cost more in fuel, that’s why I recommend a beater car to save money without sacrificing transportation. .
Set smart financial goals and start buying things that align with your goals.
6. Schedule routine maintenance for your home and car
Setting routine schedules to maintain your home and care are ways to save money in the long run.
Take care of your things and ensure they are working at the highest capacity.
Maintain your appliances in your house. Set a maintenance schedule of once a quarter. A great example is to change your air conditioner filters.
Taking care of routine maintenance of your house will save you thousands of dollars and increase the lifetime of your appliances.
Another tip is to move your refrigerator away from the wall at least once a year and vacuum behind it.
Dust and grease accumulate on the coils, and simple maintenance allows for your refrigerator to operate at its optimal.
What are unnecessary expenses?
Unnecessary expenses are things you buy out of impulse.
Memberships, magazine subscriptions, excessive insurances, luxury cars, impulse shopping are just a few examples of unnecessary expenses.
Live life intentionally, with a plan, and you will feel the stress lift right off your shoulders.
Clean out your storage unit of unused expenses and free up space in your life to set financial goals.
Good habits and financial wealth start from sorting through the clutter.
Why should you organize your expenses?
If you want to save money and control finances, then the best tip is to organize your expenses.
Structure your spending habits, and you will immediately have lower bills and save a lot of money.
Good habits are built and maintained.
It takes effort to clear all the mental clutter that comes from living with out-of-control spending habits.
Imagine all the money you start saving as soon as you cut out the unused stuff.
Trimming the excess fat
Trimming the excess fat from your expenses will improve your financial wealth. Building a solid foundation of necessities over wants is the primary goal when minimizing costs.
When you review your budgets and see improvement areas, get started cutting back.
Make it your goal to eliminate as many unused subscriptions and excessive insurances as you have.
Change your outlook on the purchases you make.
If you are excited about clothes, purchase quality clothing items that are interchangeable over trendy items in excess made of lower-quality materials.
Consume more water every day!
Not only will it benefit your pocket by saving on costly beverages, but your overall health too!
Trimming down your expenses are great ways to save money and develop a spending plan that will make life functional and build financial wealth.