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    Challenge Your Monthly Expenses Part 2

    May 18, 2017

    Well, as stated before I have cut some of my bills back. It has been about 4 months now of cutting back these bills. I’m definitely able to talk about my experience and my thoughts on this. Just as a quick refresher for everyone of what bills I decided to look into cutting back.

    1. Phone
    2. Cable
    3. Insurance

    Phone

    I was using Sprint as my phone service provider. I really had zero complaints about Sprint. Coverage was good I had the unlimited data, text and talk plan. It was $99 with my military discount. I dropped Sprint and went with Straight Talk as my new service provider. The plan I choose is unlimited talk, text, and data. Now the data is 4G LTE for the first 5 GB and 2G speeds after that. Now at this point, some might be saying I can’t see myself only having 5 GB of data at that speed then having 2G speed. Yet think about this I use WiFi at home using zero data. At my gym, I use their WiFi using zero data. That means I only use data in my car and a few spots at stores occasionally.  I put more value into retiring early than I do having more data. Others can keep their data I’ll keep my early retirement plans. Now the most data I have used in any month since January is about 3 GB. Let me tell you that took me really trying to use that much. I almost forgot this new phone plan only costs me $49 with tax and all. The breakdown of costs and savings below.

    Sprint – $99

    Straight Talk – $49

    Net Saving – $50

    Cable

    My cable and internet were bundled together for $140. I decided to make this very easy and just cut cable altogether. I already had NETFLIX as well. I really did not like most of what was on cable anyways. I also noticed that I wasted a ton of time like a zombie in front of the TV. I would watch cable without really getting anything positive from it or anything productive that was in align with my goals and future plans. I came to conclusion “why am I wasting time and money on something that is doing nothing for my life?”. The Internet cost now without cable $66 a month.

    Cable/Internet –  $140

    Internet – $66

    Net Savings – $74

    Insurance

    I actually could not find cheaper insurance than what I currently pay. I could have dropped coverage or raised the deductible to save a few bucks. In the end that just did not seem worth it to me.

    Bonus

    After not cutting insurance at all I wanted to look at cutting back my Netflix. I had the plan with streaming video and 2 DVD’s at a time for $23 a month. Noticed I had the same 2 DVD’s for over two months on my coffee table. Well Cut back to the 1 DVD at a time for $13 a month. Honestly might cut this again as I have yet to watch a DVD.

    Netflix – $23

    Netflix new plan – $13

    Net Savings – $10

     Summary

    I could not be happier with my decision four months ago. I have yet to miss cable at all. I have had zero issues with my new phone service and not missing the extra DVD with Netflix. So, there it is I saved money without losing anything of value in my life. Remember I challenge you to look for at least one thing you can cut back.

    Overall Net Savings – $134 a month/$1,608 a year

    Talk about a great way to boost my ability to grow my wealth.

    FIRE HACKS

    Thanks for stopping by. I use affiliate links to support this site at no cost to you if you believe you get value, please consider supporting me by clicking. 

    My favorite free financial tool to manage my net worth is Empower. You get a $20 Amazon gift card for signing up. 

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    My favorite phone service is Mint Mobile. You get a $15 renewal credit for signing up. I get a year of phone service for a rock-bottom price of $240. As a guy who travels and lives in an RV full-time, this service has been amazing.  

    Filed Under: Financial Independence

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