Write down the categories you listed yesterday and decide how much you want to spend in each category next month—based on areas you’ve determined you could cut back in.

So you’ve listed your monthly housing expenses, and now it’s time to find ways you could cut back.

Here are a few of my tips to get you started:

  • Cut cable. I mentioned this back on day six with lifestyle expenses. If you didn’t consider it then, maybe now’s the time. The average price for cable TV is $107 a month—which adds up to over $1,200 a year!1 How many of those channels do you actually watch?
  • Get LED light bulbs. It's a bigger investment on the front end, but you'll see a difference in your electric bill for years to come.
  • Mow your own lawn. If you’re paying a landscaping company to cut the grass, this is an easy way to quickly save money. By cutting your own grass, you’ll save money and get some good exercise!

Where else can you cut back?

Now, let’s plan ahead. How much do you want to spend in each of these categories next month?

Mortgage/Rent: $____________
HOA: $_____________
Water: $___________
Electric: $______________
Natural Gas: $______________
Cable: $______________
Phone: $___________
Lawn Care: $_____________
Other: $_________________

Compare these numbers to those you entered for last month’s spending (in yesterday’s task). How much extra money did you find? Write down that number next to your totals from Day 6 and Day 8 and put it away for later. If you entered your planned amount for housing into EveryDollar yesterday, reduce it accordingly to reflect your newfound savings!