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  • A New Year of Spending Less

    Chris O'Shea

    Some tips to spend less next year

    How’s this for a New Year’s resolution: Spend less money. Sounds great, right? Don’t let it be easier said than done. Commit to this goal now so when the new year does begin, you’ll hit the ground running. And if you’re not quite sure how to get started, check out some tips below for ways to spend less in 2019.


    1. Dine in. The Bureau of Labor Statistics says that the average American household spends about $3,000 per year on dining out. Think about where that money is going in your case — is it multiple lunches, one splurge of a dinner, or something else — and how you could most easily reduce the outlay?
    2. Adjust your thermostat. According to a Department of Energy study, you’ll save about one percent on your bill for every degree of thermostat adjustment per eight hours. The study’s recommendations: During the cooler months, keep your thermostat at 68 degrees when you’re home and awake, and 58 degrees when you’re away or asleep. In the warmer months, aim for 78 degrees and 85 degrees, respectively. A programmable thermostat can help you put this on autopilot. Homeowners who do this should save roughly $83 per year on their energy bills.
    3. Refinance. Even if you’ve already refinanced your mortgage to its lowest point, look into whether there are better rates to be had on your auto loans, student loans, and credit cards. Ask your credit union or bank for help.
    4. Change your internet and/or phone service provider. As US News reports, internet and phone companies often offer new customers great deals. If you can make it work, try switching your providers to take advantage of those savings. When the deal runs out, switch again. (The other way to play this is to call your current provider and threaten to switch. You may not save as much, but chances are pretty decent you’ll save something.)
    5. Check your subs. Subscription services are great, as long as you’re using them. Go over your subscriptions and make sure that you’re using all of them. If you come across a sub that makes you question if you should still be paying for the service, you know what to do.


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