The first aspect of my life that was positively affected by living simpler was definitely my finances.
Here are 5 tips for simplifying your finances:
Get Out of Debt Changing my mind set has been freeing in more ways than one; it’s freed up a lot of mental clutter in my head, reducing stress and it’s also freed up some cash in my budget. Money that was normally going to unnecessary things is now available for other, more important things, like paying off debt. After taking a detailed and honest look at my monthly budget, I noticed there was an excess of $2,000 being spent that was not being accounted for. Now, I don’t know about you, but that’s a lot of money. That money is being used to pay down my student loans. All of it.
Cancel Subscriptions Once I realized I had an extra 2K laying around I wondered how much more I could squeeze out of my budget. The first thing to go was cable, followed by a bunch of monthly subscriptions I had no use for; magazines, beauty products like Ipsy and my monthly JustFab subscription. All in all, a savings of about $100.
Automate Your Savings I’ve been going back and forth with this for years (shame on me). I’ll save a couple of thousand dollars and take it out for an “emergency.” Although I’m not currently saving as much as I’d like to (my priority is paying off my student loans) I’m still tucking away some cash each month.
Use Personal Finance Apps I love using apps to organize my finances. I’ve been using Mint for years and it really helps me stay on track and see the big picture of where my money is going. I especially like that you can create goals and setup reminders for each of your accounts.
Stop Buying Stuff All your new money habits will mean nothing if you’re still spending like before. This is a difficult habit to break if you’re used to spending your extra cash but challenge yourself to have a no-spend month. The savings will be an incentive to keep it up, or at the very least, to spend less
How have you simplified your finances?
Vicky @ randomlittlefaves.com
April 23, 2025 at 2:12 am (10 months ago)Great advice!! I am going to set myself up on a budget soon…I do save money and I don’t have any debt other than my mortgage, but I don’t save as much as I should or could. I definitely need to stop spending!!!
Angelica
April 23, 2025 at 5:38 pm (10 months ago)Congrats on being debt-free! That’s a great feeling, or at least I can imagine hahaha. You’re in a great position, Vicky. Save that money!! But no one says you can’t splurge on some treats here and there
Lauren White
April 24, 2025 at 12:39 am (10 months ago)I need to cancel a lot of our subscriptions - especially cable! With Netflix and Amazon Prime, our TV is hardly ever on anymore! Thanks for all these other great idea too! I can’t wait to start saving money!
Angelica
April 24, 2025 at 1:50 pm (10 months ago)Cut the cable, Lauren! You won’t even miss it. And you’re right- there are so many alternatives now. Happy saving
Miranda (Myrabev)
April 24, 2025 at 4:48 am (10 months ago)I went through the same exact thing last year, cancelled all monthly subscriptions and now I have reduced my debt to 75%, I am almost there. I now have money to actually go and enjoy a holiday spontaneously which is awesome.
Angelica
April 24, 2025 at 1:52 pm (10 months ago)Congrats, Miranda…that IS awesome! I’m seeing the connection too. Since I’ve trimmed the fat I realize I can actually take some of those trips I’ve been daydreaming about.
Shannon Peterson
April 24, 2025 at 4:50 pm (10 months ago)an extra $2k a month is amazing! I seriously need to sit down and evaluate how we spend our money!
Angelica
April 24, 2025 at 5:08 pm (10 months ago)I know! I was equally amazed and appalled at the same time. I highly recommend it, though.
Whitney Hansen
May 1, 2025 at 12:39 am (10 months ago)Love this post! Thank you for sharing your financial journey; you gave some great tips.
Angelica
May 1, 2025 at 12:59 am (10 months ago)Thanks, Whitney. Means a lot coming from you!