There comes a time when you must ask yourself if the services you’ve purchased are worth the money you spent. Although some of these items might seem like the right option at the time, they’re more than likely just an expense you can cut. There are cheaper solutions out there for services you may own. Here are some expenses to cut out of your budget:
Expenses to Cut
1. Cell phone insurance: Purchasing a brand new phone and two-year deal with your provider can be pretty pricey. During your transaction the opportunity to partake in cell phone insurance is offered. The insurance usually runs to about $7 to $10 per month and provides coverage for most accidents that may occur. It sounds like a solid deal, but it can be a gamble. Over the course of two years you’ll be paying $168 to $200 for a service you may never use. On top of that, if your phone does suffer any damage, or is lost, you may have to pay a deductible to get a new phone. These deductibles are an expense that shouldn’t be paid because the usually run to about $150. Along with monthly payments, you could be paying up to $300 for a service you may never use.
2. Extended warranties: An extended warranty always sounds like a great idea when you’re purchasing a brand new television, laptop or tablet, but it’s usually a waste. You may receive a warranty that will last for three years but chances are the product won’t break in three years. If your product malfunctions at all within the first year of ownership, contact the manufacturer. Manufacturers usually provide a one-year warranty for products, so work with them in replacing your item. If you’re planning to keep an item for a long time, reach out to a third party for an extended warranty. Some warranties will allow you to replace your item with a current model for no added cost. If your item breaks down after the three year mark, it’s usually not worth repairing anyway.
3. Cable: Everyone loves to watch television. However, it’s a hassle when you have to pay a huge cost to your cable provider every month. There are packages you can choose to purchase but they’re still expensive and chances are you’ll ignore the other channels you’ve purchased. Also, if you want to own movie channels, you’ll have to pay an extra cost. An affordable option to choose is Netflix or Hulu, which provide most popular shows for free. With these options you can stream content to your television from your computer. If you’re a sports fan you can also stream games or events on your computer so you don’t miss out on the action.
4. Landscaping services: There’s no need to pay someone else to do your yard work. Most landscaping work is relatively cheap and easy to do. The Home Depot can help you save on most landscaping products and makes it easy to do it yourself. You can place native plants in your yard to lower the amount of lawn you have to upkeep. Another option is to purchase grass that requires low-maintenance allowing you to save even more. When mowing your lawn, leave some clippings. This will reduce or eliminate the need for fertilizer, an expense that can be pricey.
5. Credit reports: There’s no doubt that monitoring your credit closely is an important task, especially when there are risks such as hackers and identity thieves looking to gain access to your information. Using a credit reporting company is always helpful with this task, but some do provide charges. Do not sign up to these sites if they require a monthly charge. There are sites such as CreditKarma.com and AnnualCreditReport.com that provide free services when it comes to monitoring your credit. There are no hidden charges and they keep your information secure.