This is a question asked over and over again by people every day. There are various reasons to save money besides the fact that it’s just good practice. Most of us, if not all, want to save money but where do we start? The best and obvious first step is to take a look at your accounts. More often than not you will find a few areas that could use some scrutiny. We often ignore recurring expenses because we get used to them don’t realize the hidden savings that can be accomplished.

Go through your monthly expenses and ask yourself if you really need to spend on each of your expenses. Cutting some expenses may not seem to make a big difference but remember over time it does make a difference. Here is a short list to get started:

  1. Bank account fees:

Are you paying a monthly fee for you bank accounts? If you are paying a monthly fee, you should start researching new banking offers. There may be a bank account out there that is offering the same as your current account at a much lower price.

  1. Start Taking Lunch to Work:

We may not realize but this could be a real money saver. Consider how much you spend on lunch every day? It could be anywhere from $8 – $10, you are probably spending anywhere from $160 to $200 a month on lunch. Many people save this money by taking lunch from home, take leftovers from night before to lunch.

  1. Cut the cable/landline:

Do you really need cable to watch TV? Getting rid of cable could be a real money saver. There are many alternatives out there at a fraction of the cost that are replacing the need for cable. Netflix is just one example out of a growing list. Take a hard look at your landline usage. Do you really need it? Chances are your cell phone is all you need. If you still need a landline, consider using an Internet Phone that uses your internet connection. They cost much lower than a traditional phone line.

  1. Stick to your grocery list:

Avoid impulse buying at the grocery store. Create a grocery list and stick to it. Impulse buying at the grocery store can start running up your spending before you know it.

  1. Credit Cards:

Always check your credit card statements. Pay your credit card in full every month if you can. The interest rate on credit cards can be outrageous and if you don’t pay your credit card in full every month those interest charges can grow. If you are having trouble paying your credit card in full consider switching to cash or debit.

  1. Gym memberships:

If you are not using your gym membership often, consider canceling it. You can always go back if you want to. If your goal is staying healthy and fit rather than putting on muscle, try taking a run on the beach or in the park. Saves you from spending on gym membership and you are outdoors.

Cutting you monthly bills are the easiest way to save money and none of these tips are asking for life altering decisions.