I don’t care who you are and how much money you make, everyone is feeling the impact of inflation right now – and it’s only going to get worse as we crest summer and head down into the colder months.
That said, I have been chipping away to reduce my monthly expenses in an attempt to put more cash in my pocket for the road ahead. As a single dad, I’m doing alright, but I’m always looking to do better – so I’ve taken a few steps, listened to a few people, and I’m sleeping through the night again.
I’m no financial wizard – and I know everything I am going to write from this point on won’t work for everyone, but there’s a lot of stuff out there that people might not know about or think about, and I think you should.
SO!
Here we go:
SWITCH YOUR CELLPHONE SERVICE PROVIDER (to an MVNO)
An MVNO (mobile virtual network operator) is a company that purchases access to larger cellular service providers – like Verizon, AT&T, and T-Mobile – at wholesale pricing to give you name-brand service at a much lower price.
Companies like Mint Mobile, Xfinity, and Google Fi have proven that a lot of us are paying for a name brand when it comes to our cellphone service provider. Even if you owe on your phone, paying it off and switching to an MVNO will save you money, hand over fist.
GET DOWN TO BRASS TACKS WITH YOUR HOME HEATING FUEL PROVIDER
In this economy, loyalty isn’t worth the price of a cup of coffee, so you should feel free to shop around for the best price for home heating fuel in your area – and then ask your current provider if they can match any lower prices you find. If they say no, then at least you know you have a choice.
Beyond that, now’s the time to get on any budget plan they may be offering. This way you can spread your payments out across the year instead of getting a massive bill all at once.
Either way, there are ways to save – while staying warm – this winter.
DO THE SAME THING WITH YOUR ELECTRICITY PROVIDER
Believe it or not, you can change the rate you pay for your electricity, as every electricity provider offers alternatives – some more green than others. Those alternatives aren’t overly advertised, and you might need to have a Google – but that little bit of effort can save you a few dollars month to month.
Also – get on budget billing with those folks as well. They generally look at what you’ve consumed over the last 12-18 months and give you a year’s worth of equal payments. It sure beats going broke just because you want to run the a/c on a muggy day.
LEASE A SOLAR ARRAY
Solar power is one of the fastest growing alternatives to energy in the WORLD. That means the cost of products and materials is coming down, while the technology is getting better and better.
Lots of folks frown on leasing as opposed to buying, but with solar, that keeps you under their warranty for a set period of time – which means, they guarantee that system is going to run optimally. Sure, they get the tax credits, but you don’t need to drop $40,000 to absorb the sun to keep your home running year-round.
The added benefit to solar, in 2022, is that most companies offer a battery backup. This means that if the power goes out in your area, it won’t go out in your house. And maybe it can’t power everything, but you would be surprised at how much it really can power.
If you own a home, you owe it to yourself to do a little research and see what solar company in your area works the best for you.
SELL YOUR CAR
If you’re in a lease or making payments on a newer vehicle, chances are it’s worth more than what you’re paying for it when you drove it off the lot.
With inventory on new and used vehicles at an all-time low, you’ve got bargaining power with dealerships – to the point where they may buy you out of your lease or buy your vehicle from you, and you can turn a profit.
Then you can go hit up a private seller and get that jacked-up Chevy Scottsdale, step-side, midnight blue, with Hooker headers that you always wanted – and maybe have a little cash left over to drop in a decent head unit so you can sound good while you’re looking good!
FIX YOUR CREDIT
We’ve all got a past but that doesn’t mean it needs to impact our future to the point where we have to dig ourselves out of a hole. And that means a lot of things – maybe that’s bankruptcy? Maybe that’s selling a bunch of junk in the garage? Whatever it is – don’t sleep on it.
One trick that works is to pay your bills with money you never see – by using a credit card that allows you to build credit, but whose limit is what you put into it – nothing more/nothing less.
Have part of your paycheck direct deposited to this account, funding the card. Pick a handful of regular bills, where the monthly fee is the same each month, and pay them with this account. You don’t have the card in your pocket to spend the money on it – and your bills are safely and securely paid – without any effort from you – as long as you’re getting paid.
All of these are just examples of where you can cut corners or make changes in your situation that benefit you without getting outside of your comfort zone too much. They all take minimal effort but can have maximum rewards.
No one likes change, especially when it comes to the things that we can generally set and forget, but when you’re working with a budget and you can start cutting weight – with positive results – it really is a win/win.
So, take a leap and see where you land. The worst case is that you end up in the same place you started, but have more awareness of the situation you’re in and can keep checking back in on to see where you can save.
ELEPHANT IN THE ROOM: Keeping up with the Joneses.
I know. I get it. I used to live in suburbia too. There’s always a push to have the biggest and best of everything. But let me let you in on a little secret – the Joneses are superficial assholes, and even they use single ply when the going gets tough. They just don’t tell you about it because, well, they’re the Joneses and that’s kind of their thing. You need to live within your means, and only stretch those boundaries because you want to – not because someone else is.
Tribe Of Flannel 