Living a frugal lifestyle is about making smart choices with your money . It means saving where you can, so you can spend on what is truly important to you.
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Frugal households find it easy to do without these nine common bills. While not all of these things might be something you are willing or able to give up, you could gain some breathing room financially by thoughtfully reducing unnecessary costs.
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Cable TV
Many people are canceling their cable TV subscriptions due to streaming services. Cable TV is expensive and no longer a necessity for household entertainment. Streaming services allow households to choose the services that fit their needs while saving money.
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Multiple Streaming Services
Although streaming services can save you money compared to cable TV subscriptions, multiple streaming service subscriptions can add up quickly. Frugal people choose one or two streaming services to subscribe to at a time. They may cancel those and subscribe to new ones every few months after watching their favorite content.
“It is unnecessary to spend money on multiple streaming services like Hulu, Netflix, HBO and Disney+,” said Marc Mezzacca, consumer savings expert at CouponFollow . “Considering those subscriptions can average around $10-$15 each, having four or more subscriptions can put you out $60 every month. Instead, select your favorite streaming service and stick with it. Additionally, look into free streaming services or share subscriptions with friends and family.”
Gym Memberships
Gym memberships can be expensive, especially if you go to a fancier gym with many amenities. Fortunately, you can get fit without paying for an expensive gym membership. You can work out at home or outside for free. Plus, many apps or online programs are either free or substantially less than a gym membership.
If you need to work out in a gym for motivation, you can also negotiate a discounted rate with your gym. Some offer introductory or promotional rates and may be willing to work with you. Also, some employers and health insurance plans offer a reimbursem*nt or discount on gym fees.
“Expensive gym memberships aren’t always the way to go to achieve a fitness goal,” said Mezzacca. “Instead, frugal shoppers consider other options or gyms with the same equipment but lower the cost. Also, consider working out at home, and use free resources like YouTube, TikTok and Instagram for workout programs or inspiration without the hefty fees of an expensive gym.”
Car Payments
Frugal people often choose to drive their existing cars until they die rather than purchase something new every few years. When they do have to buy a new car, they often choose a used car to save money. If possible, they also pay for the car in cash to avoid a car payment and the associated interest fees.
Extended Warranties
Sometimes, when you purchase a product, you may be offered the choice to purchase an extended warranty. Most frugal people don’t pay for extended warranties, because they know they are usually not worthwhile.
Many credit cards will offer extended warranty protections, if you use that card to purchase the item. This is a free way to get extended warranty coverage without paying for it.
Credit Card Interest
It is easy to avoid ever paying finance charges on your credit card if you pay your credit card balance in full and on time every month. Frugal people know not to spend more than they can afford to pay. If you’re too tempted to overspend when you’re using a credit card, you could try only paying for things in cash.
Late Fees
Many credit cards and loans will charge late fees if you don’t pay on time. To avoid late fees, you can enable autopay or set calendar reminders to help you pay on time.
Duplicate Bills
Sometimes, a duplicate bill will appear on your credit or debit card statement. Your card may have accidentally been charged twice. Or you may be subscribed to something twice, like with two different email addresses.
If this happens, you should contact the merchant or your credit card company to get it resolved. Never pay for a duplicate bill. You should be eligible to get the charge removed or the payment refunded.
Things That You Could DIY
If there is something that you can easily make yourself, frugal people will often choose to do it yourself (DIY). DIY is a way to save money while still getting the results you want. Some things you could DIY include home décor, basic home renovations, landscaping or gifts.
If you are new to DIY, start with a small project and build your confidence and experience over time.
The Bottom Line
While you don’t need to avoid paying every single one of these bills to be frugal, you may find that this list includes several bills that are easy to cut from your budget, helping you save money.
This article originally appeared on GOBankingRates.com : 9 Bills Frugal People Don’t Pay
