money moves to lower your expenses

Smart Money Moves By Lowering Your Fixed Expenses

One of the smartest money moves you can make for your personal finances is to lower your fixed expenses, i.e. the things you pay for regularly. By making a few small changes, you can set your finances on a much healthier path that you can easily handle. This quick guide will show you 5 smart ways you can lower your expenses and free up a lot more of your personal finances.

What Are Smart Ways To Lower Your Fixed Expenses?

Since you can't always stretch your paycheck when you need extra cash, you can find plenty of ways to lower your fixed expenses, one item at a time. In fact, some of these options are even things you can do at the same time so you can lower even more expenses than you anticipated! This guide can help you learn about these 5 good examples of smart ways to reduce your regular expenses and free up more of your money starting right now:

1. Buy Or Rent A Smaller Home

The first and easiest way to reduce your monthly fixed expenses is to downsize your current living arrangements. More specifically, you can choose to buy or rent a smaller home than what you have right now.

Despite how much money that could be saved by downsizing this way, a lot of people are reluctant to do it. In fact, some might even be too scared to do it. That’s because they’ve grown accustomed to the amount of space and comfort that they have right now and can’t imagine being happy and comfortable in a smaller space.

There’s nothing wrong with prioritizing your comfort that way. If you find that you’re willing to sacrifice a little bit of it to improve your personal finances, this is certainly one smart way to cut down on your regular spending.

smart money moves to help you

2. Research Insurance Providers

Another smart way to cut back on your expenses is to research insurance providers. In reality, most people choose one insurance provider and stick with them forever. While being loyal to one provider certainly has its benefits, you might be missing out on better deals that have come up.

So, the smart thing to do is to shop around and compare insurance providers once every few years. You might even find that switching to another provider could reduce how much you pay in premiums!

3. Check Your Subscriptions

These days, people sign up for all sorts of subscriptions that charge them a fixed amount every month. The most common examples are streaming services for TV shows, movies, or music.

While our usage of these services changes over time, many people don’t bother canceling or downgrading subscriptions. And entertainment isn’t even the only subscriptions you might have. Be sure to check your newspaper and magazine subscriptions, too. Then, you can make adjustments by:

  • Switching: The subscription industry is quite competitive, so you might find a better deal by switching to another provider.
  • Downsizing: Besides that, you might be choosing a more expensive subscription package that you don’t really need. Another option you have is to keep your subscription but change to a cheaper package.
  • Canceling: Lastly, if you don’t use the subscription at all anymore, you can just cancel it altogether.

4. Check Your Memberships

Similar to what was described above for subscriptions, you can also check whatever memberships you might have to see if there are any money-saving opportunities there. The most common example is a gym membership that you no longer use that you can cancel.

You can either choose to switch, downsize, or cancel the membership to reduce your fixed costs. This is another good way to make smart money moves.

5. Pay Your Bills On Time

Lastly, one of the most overlooked ways to keep your fixed costs low is to pay all of your bills on time. That’s because a late payment typically leads to additional costs like late fees and other penalties, all of which inflate a cost that should stay fixed.

You can prevent that from happening by paying all of your bills on time. Whenever that’s not possible – like if you’ve run into any emergency that is preventing you from paying your bills on time – you could turn to payday loans and title loans.

couple looking into payday loans and title loans

These are two loans that can help you get cash and ensure you don’t miss any deadlines. A payday loan is a way to borrow money against your next paycheck.

It’s an unsecured loan, so you don’t need any collateral to secure it. Alternatively, you could get a title loan by using your lien-free car title as collateral. You’ll get to keep the car, but the title will be used to secure the loan as you repay it.

Both of these loans offered at Cash Cow in Louisiana offer you quick and convenient ways to get the money you need to stay on top of your bills and prevent those fixed costs from increasing due to the late fees and other penalties mentioned earlier. Plus, learning more about either title loans or payday loans is easy.

All you have to do is go to our website and fill out the online form. From there, one of our loan representatives will give you a call to help answer any questions or begin the process.

Take The First Step Now!

The best thing you can do for yourself is to make smart money moves by lowering your monthly fixed expenses the best you can. Any of these above options can help you get started as soon as today!

When you need to borrow cash quickly to handle any emergencies thrown at you, remember that you can rely on Cash Cow to help you out. Take the first step by contacting a nearby store location or submitting the online form with your information.


Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.

Louis Tully

Louis Tully is a full-time finance writer offering financial expertise to everyday consumers. He understands the core values of finance and used his writing talents to share his own experiences with money to his readers. His articles teach how financial failures can easily become successes by making new habits and creating realistic goals.