7 Ways to Lower Your Budget in 2016

Well, here we are! You now officially have 2 days of 2015 left. TWO DAYS, PEOPLE!!!

And you KNOW I had to post about budget.

If you’re hoping to be more financially responsible in 2016, you may be searching for ways to lower your budget, as well as stick to it, throughout the coming year.

Piggy Dollars Showing Money Savings And Wealth

Thankfully, there are many methods you can follow to do just that and put more money aside in savings if you need to.

Check these out…

1. Start Saving Energy Around the House

From making it a point to use less water and simply turning off the light when you leave a room, there are plenty of easy ways to save money on your energy bill at home. Start by replacing light bulbs to LEDs that are the most energy efficient option out there. If you have the money to install a programmable thermostat, you can do so as well, as this will help you maintain the optimal temperature at all times, even when you aren’t home. And seal up any gaps throughout your home so you can reduce the amount of cold or hot air that enters and forces your thermostat to work harder. 

2. Shop for Groceries Smarter

Another way that you can reduce the amount of money that you spend every week is by shopping for groceries smarter. For example, never shop for food when you’re hungry, as this could lead you to purchasing more than you really need. Bring along a shopping list and plenty of coupons, and look at the unit price rather than just the price, when trying to determine which product and size is the best deal.

3. Look for Cheaper Insurance

With so many insurance companies out there, you can certainly shop for a lower premium while still getting the coverage you need. Whether you’re in search of a more affordable health insurance plan, homeowner’s insurance policy, or car insurance policy, shop around, compare rates, and make the switch once you find a better deal that could save you hundreds per year. Bear in mind, too, that some companies offer discounts when you purchase a bundle of insurance policies for home, auto, etc.

4. Switch to E-Cigarettes in Place of Tobacco Cigarettes

Electronic cigarettes are all the rage right now all over the world, and for good reason. Not only are they enjoyable to use because they come in a variety of delicious flavors, but they are also more affordable than regular tobacco cigarettes when you consider the fact that you can reuse the same e-cig device and e-liquid many times before having to purchase more e-liquid. So if you are a smoker and you don’t want to quit, you can switch to e-cig devices that save you money and give you the nicotine you crave. And if your New Year’s resolution is to quit smoking all together (like a few friends of mine), it’s much easier to drop your nicotine level with an e-cigarette than a tobacco one!

Piggybanks Fighting Over Money Shows Monetary Consumption Or Bank Deposit

5. Set a Limit on Credit Card Spending

When using a credit card, it can be really easy to go over your budget without realizing it. Instead, set a monthly spending budget for your credit card. To ensure that you don’t go over that limit, keep an eye on your activity by signing up for its online service. Sign in regularly to check the amount you owe, and curb your spending by using the card less overall.

6. Avoid Buying Things You Don’t Really Need

You may be tempted to get the latest gadget or transform your closet with the latest fashions, but ask yourself if you really need those items. If you can do without them—and you likely can—don’t purchase them. Instead, focus on purchasing the necessities. Then, if you have money left over, you can treat yourself to something extra and something special.

7. Use Refillable Water Bottles and Travel Coffee Mugs

Think about how much money you spend on purchasing water bottles and coffee to stay hydrated and energized whenever you’re on the go. Then think about how much you can save by simply purchasing some refillable water bottles and using filtered water from home, or carrying a travel coffee mug that you can bring to work with you. It’s likely you can save a lot. And you will also be doing something great for the environment because you won’t be purchasing so many plastic bottles. And if you’re used to purchasing expensive, sugary coffee like Starbucks lattes all the time, you’ll also be doing something great for your body by reducing all that sugar intake.

With these seven tips, you can definitely make 2016 the year that you start saving more and reducing your spending! It can be done!

Do YOU have a tip for saving money in 2016?

Due to the amount of comments from all of my wonderful readers, it is not always possible for me to respond to each one. However, I absolutely do read them all, and if you’d like to address something specific, or have a question for me, please don’t hesitate to email me at Kristen@theroadtodomestication.com. I will respond to your email as soon as possible! Thank you for visiting the blog!

13 thoughts on “7 Ways to Lower Your Budget in 2016

  1. My husband packs his lunch for work, and I send in lunches for the kids at school, and although I know it’s not for every one, I cloth diaper our little ones. That has saved us so much money especially having them back to back (Irish Twins)… This list has given me some new ideas, (especially the insurance) and I look forward to using them in the new year!

  2. We just switched to a cheaper insurance policy that still has everything we need. I was surprised how much we had been overpaying for auto insurance.

  3. A few of these tips are on my list of TO DO as the year is upon us! Shopping smarter, reusing water bottles and not purchasing things I really don’t need are 3 things that get me, and well,… my family too. We could save so much money!

  4. Those were all good tips. Are the e-cigs called vape? I don’t know if that’s the same, but the vape was pretty trendy for awhile in DC when we visited.

  5. I think these are some great tips to plan ahead for the upcoming year as I am so poor in budget planning. I think I could save a lot with Grocery shopping if I plan better & I agree we should have an eye on credit card spending’s as well.

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