When you are earning a regular salary it’s easy to lose track of the monthly expenses that pile up — especially if you have everything on automatic payment. But if you are serious about being financially responsible, you will have to take another careful look at your monthly expenses and decide which of them you can do without; and in modern society, there is always something we can do without. To help you get started, here are some suggestions.

Cell Phone

While it may not be practical to do away with the cell phone altogether, you can be more prudent in what sort of bill you are paying. If you’re paying over $100 per month for your Smartphone, then consider the features that come with your plan and decide if you really need them. It’s always good to go for plans with no contracts. Also, how much data do you really need? Carefully consider what you are paying for and ask for another plan or change providers.


With so many things available online, cable is not necessary. If you spend the majority of your time on social media, or you go out a lot, then cable is an unnecessary expense. Alternatively, you can get an HDTV antenna that picks up many of the major networks. Switch to streaming services instead, or look for free entertainment.

Banking Fees

Banking fees can pile up if you don’t pay attention to your statements. Consider switching to no-fee banking or make an assessment as to why you are being charged these fees. If you are always late in paying your bills, consider arranging an automatic payment plan. Plan your spending ahead, and stick to your plan.

Car Payments

Many people find it difficult to let go of their cars, especially if they live in a city where public transportation is not reliable. However, you don’t have to dispense with your car altogether. Trade in your current car for a cheaper (good quality) one. Do you think you are paying too much for car insurance? Check with your insurance provider to see if you are eligible for a lower rate. This list is by no means exhaustive, but it can certainly get you thinking about what you can do to cut down on your monthly expenses. There is always something you can do without or that you can acquire for less money, so with a little prudence, patience and discipline, you can go a long way in saving your money. Talk to one of our advisors today to learn more about creating a successful financial future.