[Music] everyone's financial situation is different but whether you are a CEO of a company or an hourly employee there's one cost that everyone has and that is the cost of living so today I'm going to share eight ways to lower the essential cost in your life and in your budget so that you have more margin and more peace with your money all right before we dive in make sure to subscribe to this Channel and share this episode with a friend okay so really your essential cost costs I consider your four walls which is food shelter utilities Transportation so when you look at these utilities it's going to be you know things to keep your house running housing is going to be your rent or mortgage transportation is making sure that you have transportation for where you need to go whether that's a car making sure you have maintenance and gas and all the things or maybe it's public transportation and then we have food and food again you obviously it's a need but I'm not talking about like extravagant going out to eat all the time but just like your basic food groceries what you need to survive those are the things that everyone needs in the world today so let's talk about cutting some costs for utilities let's start there number one cut or combine streaming services so this is one part of your bill that you're going to see every single month and for many of us you kind of just keep adding on subscriptions so take a moment and be like hey what do we actually watch and if we only watch like one show on one thing maybe we can eliminate it for a few months and that's going to save us some money so again combining some of these services or cutting them is going to be your best bet number two is reduce utility usage so when you think about your water for instance right taking some shorter shower if when you're brushing your teeth turn off the sink think about electricity like if you have lights on all the time you're going to be paying for that so maybe turning off some lights adjusting the thermostat when you're not home so there's some elements here that is going to get money back in your pocket when it comes to your utilities and if you pay for any of your utilities online an easy way to save yourself from losing money is to protect your online privacy from hackers and this is one reason I love delete me delete me is an incredible service that goes in and removes your data cuz so much of your data you don't realize is out on the internet and this is everything from your job history your address your phone number there's so much that is out there and so data Brokers will gather this information and then sell your data to other companies so that they can spam you sometimes scam you and we don't want that so protect your online data with delete me you can get 20% off your delete me plan by going to join delet me.com Rachel all right next up is transportation so the very first way the biggest way for you to save money when it comes to your car is getting rid of your car payment so the average used car right now their payments is around $500 a new car is up to $7 to $800 so it is insane how much money your car payments are taking from you so what do you do well sell your car and if you only make like two to three you know ,000 go buy a car with cash save up some money and maybe buy a $5,000 car if you're under water on your car which a lot of people are then just say okay go take a small loan from the bank and let's say you have a $25,000 car loan but you can only sell your car for $220,000 then go take a $10,000 loan from the bank or a $88,000 loan pay off the car loan get rid of the car and then go and buy a really cheap car cuz I would rather you be $8,000 in debt then $225,000 in debt so again finding that way to get rid of that car payment is going to be huge and listen that crappy car that you buy you're not going to drive it your whole life drive it save up on the side sell it put your money together and step up in car but you're going to do it slowly over time but putting five to $800 back on average into your budget is tremendous number two I would also say go crazy with the coupons so when you think about your routine maintenance from oil changes tire rotations all of that there are so many coupons online and you want to keep up with your car maintenance because you want your car to be running for a long period of time so take care of it this is one issue that it's tough for me I'm like I don't keep up with all the details of my car but when you again when you're taking care of your car it's going to avoid bigger issues later on it's going to cost you a lot of money all right up next let's look at housing so one great way to save on housing is to check insurance coverage so when you look at your coverage on your home maybe you can bundle your home in Auto and you can save some money that way also when it comes to your home a great way to save some money is to make an extra mortgage payment this is a great way to save a lot of money now this is for the Long Haul but when you look at this it's crazy when you just make one extra payment a year you guys the math is insane so to see how much you could save with your mortgage over time when it comes to interest and all of it make sure to go to our mortgage payoff calculator I'll put the link down below but go check it out put in your numbers and just kind of mess around with it and say okay what if I did 13 payments a year or 14 or 15 and you'll see how much interest you save over time it's a beautiful thing all right last but not least let's talk about food so a great way to save money in this category is cut eating out and this is hard this is a very hard one because it's so convenient it is so easy but we spend so much money going out to eat especially if you go down to a restaurant you sit there and it's a sit down experience you know you're tipping on top of that the food again it's great that it's made for you it's wonderful but you pay for it and so you do end up saving so much more money when you eat at home and this doesn't have to be forever but if you are at a point that you need more margin in your budget cut going out to eat for a month and see how much money you save it's an incredible amount and number two is to buy generic so when you're going to the grocery store a great way to save some money is to buy generic things buy the store brand of what you can and mostly we say it all the time but it's true a lot of these things are made in the same area like even in the same Factory and so get a cheaper label cuz you're going to save money that way now all of this means nothing if you're not budgeting the money that you're saving so make sure to check out my episode on four ways you're ruining your budget without realizing it that's coming up next you can click right here to watch that or if you are listening on podcast click the link below all right you guys remember to take control of your money and create a life you love
