Let’s continue our discussion on how to live below your means. While some things may be a challenge to trim, others won’t be. For example, I changed from one of the big three cellular providers to a Mobile Virtual Network Operator (MVNO). They use the infrastructure from one of the big three at a lesser cost. MVNOs offer lower costs for similar or same services. Cancel unused subscriptions like gym memberships, magazines you don’t read, etc. Look for free events to substitute for paid ones. We go to free concerts offered by local communities instead of paying for tickets to paid ones. Do you really need that home phone anymore?  I canceled mine years ago and haven’t missed it.

If you’re not living below your means now, find ways to cut expenses. To start, track your spending for week 1. In week 2, cut one expense you don’t need anymore. For week 3, add $10 to savings every week. Week 4’s task is to cut your food spending by $15-$25 dollars. That can be done easily if you skip the daily latte or eat at home for one more meal than you have been.  All of these changes will make a huge difference over time.

Years ago, I put a TV antenna on my roof, canceled cable TV and started saving about $100/mo.  I put the savings into my emergency fund.  Over a year’s time, that added up to $1,200 for the year.  Over 10 years, that totaled $12,000.  I still had the internet and added a couple of streaming services.  I paid for those services out of pocket as they totaled less than $40/mo.  I saved up and purchased an antenna DVR and tape things directly from the antenna.  And, as you can see, one small change amounted to a huge difference in my savings.  I really haven’t missed anything by switching to live TV.

Moral of the story:

Small changes that add up over time can help you live below your means.  In the beginning, it might not seem to have any impact.  But over time, you will see changes happening.  You’ll gain some breathing space.  The more space you have, the more you’ll want to guard that space and increase it over time.  Is this a quick fix?  Absolutely not.  But it does work if you’re focused.