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Ways to lower Your Cost of Living

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HI I’m your host Rayfil Wong

Bringing you today 10 Ways to Lower Your Cost of Living

  our source today Turbotax

The average American Family Budget is $49,705 a year.

#1 The gym.

If you’re not utilizing your monthly membership as much as you thought like

   3 or 4 times a week, cancel your membership.  This will save you

around $660 a year since membership run about $55 a year.

Don’t forget the gasoline expense you spend driving to go to the gym.

#2  Cell phone.

Save $360 a year simply switching your plan for 8 gigabytes of data

for $130 a month to a cheaper plan for 2 gigabytes for $100 a month.

Studies show that the average customer only uses about 1.58 gigabytes per month

#3 Turning up the heat.

Installing programmable thermostat can reduce cost from 5% to 20% off your bill.

Heating and cooling home can consists of 46% of monthly bill. 

# 4 Coffee fix.

About 54% of Americans drink coffee every day, paying $712 a year for a medium cup of coffee at Starbucks. 

Start slow. Cut out 2 cups of coffee a week can save you about $200 a year.

#5  Checking.

What!! We are charged a checking account?  Request from your banker list of all charges

on checking account and switch to 100% free checking.  Save yourself about $100 per year.

#6 Prescription drugs.

Switch from name brand to generic drugs and save up to $100 a month.  Average name brand pill about 3 times the generic.

#7 Books.

Average Americans spend $118 a year on book so borrow from the library.  Also the library has DVD’s.

#8 Green mileage.

When buying a new car, save about $1280 a year by choosing a 25mpg car over a 15mpg car.

Let’s calculate.  Driving 80,000 miles over the cours of 5 years will save you 2,000 gallons with average price of gas at $3.20.

#9 Eating out less.

American’s spend around $218 a month on eating out.  Cutting down the amount of times can save you up to $2620 a year. 

#10 Down the toilet.

The toilet makes up 27% of your water usage so replacing or fixing older toilet can save a family of four up to $2000.

Leaky toilet waste up to 200 gallon of water older toilet use 3.5 to 7 gallons per flush.

Conclusion: Follow these 10 simple steps can save yourself $7,500 per year.

thanks for joining us, Professor Savings signing off

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