5 Expenses To Cut That You Won't Miss
You don’t have to live off instant noodles or penny-pinch just to save money. Sometimes, all you have to do is eliminate the small recurring expenses that are draining your budget. Even though these expenses individually won’t necessarily break the bank, they can add up pretty quickly and cost you thousands of dollars a year.
So here are five expenses to cut that you probably won’t even notice when they’re gone.
Be Aware: Inspect Your Budget To See Where You're Bleeding Money Every Month
Check Out: Start Growing Your Net Worth With Smarter Tracking
1. Streaming Subscriptions
If you’re paying for Netflix, Hulu, Disney+, HBO Max, Spotify and YouTube Premium, all at the same time, you’re easily spending over $100 a month on subscriptions alone. And unless you’re actually using all of these subscriptions to their fullest potential, it doesn’t make financial sense to keep them all.
Instead of keeping every service year-round, rotate them based on how often you’re using them. For example, if you’re currently spending most of your time watching a specific show on Netflix, cancel other similar subscriptions until you actually need them.
2. Food Delivery Apps
Food delivery is convenient without a doubt, but once you add in delivery fees, service fees and tips, a $15 meal can easily turn into $30. And if you order takeout multiple times a week, you could spend over $300 a month just on food delivery if you’re not careful.
You don’t necessarily have to stop using food delivery apps entirely, but you can reduce the frequency from four times a week to just once or twice, for example.
3. Gym Memberships
Everyone makes it their New Year's resolution to go to the gym more often. So they buy a gym membership, go really hard for a month or two, and then forget that it even exists. So if you have a gym membership that you haven’t used at all for months, either start going to the gym or cancel it.
A $60 monthly membership may not seem too expensive, but that’s $720 a year for something you may barely use. For some people, it might make more financial sense to just switch to free YouTube workouts, walking or running outside to save money.
4. Small Convenience Purchases
Spending $12 a day on coffee and lunch during the workweek adds up to more than $3,000 a year. That’s money that could go toward travel, debt payments, investing or an emergency fund instead.
You don’t have to eliminate every treat. But you can easily save a few hundred dollars a year just by making coffee at home or packing your own lunch instead of getting takeout.
5. Online Shopping
Online shopping has become almost too easy nowadays, especially with social media. Before you know it, you’re spending $40 on a skincare product you saw online or $75 on clothes you didn’t actually need.
One simple way to curb impulse spending is to give yourself a 24-hour waiting period before buying anything online. More often than not, the urge fades once you step away for a bit. You might even forget you wanted the item in the first place or realize it wasn’t worth the money after all.
To help Americans navigate the added cost of summer, MoneyLion is giving away $1,000 every day through July 4. Enter the Summer Break Giveaway here (No pur. nec. Ends 7/4/26. See official rules at mlion.info/summerbreakofficialrules)
This article was provided by MoneyLion.com for informational purposes only and should not be construed as financial, legal or tax advice.
More From MoneyLion:
