3. Consolidate your subscription services
When it comes to streaming video and music, $7.99 here and $9.99 there seems like a small price to pay for millions of titles at your fingertips. But these inexpensive subscription services can really add up, especially if you take advantage of premium add-ons — those with no commercials.
In fact, one study finds that Americans spend $2.1 billion per month on streaming services alone.3 Bottom line: You probably don't need Netflix and Hulu and Prime Video and HBO Go and Spotify and Apple Music and … you get the point.
4. Cancel Amazon Prime
Amazon Prime might seem like a great way to save money, but the service is set up to make you spend more. In fact, Prime members spend more than twice as much on Amazon products per year as non-Prime members —$1,700 versus $700, respectively.4
By paying up front for "free" shipping, it can feel like you need to get your money's worth and place a lot of orders. Plus, non-Prime members can still get free shipping on qualifying orders over $25. But remember, you save the most money by not spending it at all.
5. Install coupon-hunting browser plug-ins
Even though online shopping is an easy way to overspend, it's also often the way to get the best deals on things you actually need — and sometimes it's the only way to get what you need. Unfortunately, it's easy to get lulled into thinking that Amazon has the best deal on everything — but that's often not the case.5
So instead of crossing your fingers and hoping that you got the lowest price, install a browser extension that does the work for you. Wikibuy is one of several browser plug-ins that will automatically search for deals on any product you try to buy on Amazon. Wikibuy will help you find online coupons and figure out which merchant offers the best deal when you factor in both coupons and shipping. Additionally, the tool will apply any coupon codes at checkout, making sure you get the most bang for your buck on every order.
You don't have to make major sacrifices to trim your monthly spending. Just be sure to funnel your newly found cash into a savings account for when emergencies pop up.