“Look at your shopping habits,” says budgeting expert Andrea Woroch. “Our daughter went to school in September, and we realized we have less people eating here now.” She suggests ditching your Costco, Sam’s Club or BJ’s membership and buying smaller quantities at a local supermarket.
5. Books
Love ink on paper but still shelling out bucks for books? Bobbi Rebell, a certified financial planner and author of Launching Financial Grownups, suggests getting your reading fix for free by checking out books at your local library instead. “You still support authors by borrowing from the library,” she adds, because libraries are likely to buy more copies of popular writers’ work.
You can also browse newspapers and magazines, saving more by shedding subscriptions. And many libraries lend ebooks and audiobooks through online services like Libby and Hoopla.
6. Peak-season travel
Years ago, you may have been stuck taking vacations during peak periods aligned with your children’s spring, summer or winter breaks from school, when prices for flights, hotels and rental cars are typically at their highest. Now that you’re not tied to the school schedule, there’s a simple solution, Rebell says: “Don’t go on vacation when college kids are on vacation.” Travel instead in the fall, when schools are in session and temperatures are still comfortable.
7. Multiple vehicles
It’s common for working spouses to need their own cars for commuting, but retirees “don’t have the same obligations of being in the office or attending work meetings,” Woroch says. Translation: Now could be an opportune time for your household to downsize to one vehicle. In addition to making money by selling the spare car, you’ll reduce your vehicle maintenance and auto insurance costs.
8. Family cellphone plans
Still paying for a family cellular plan even though your kids are now grown-ups? You’re not alone. More than one-third of millennials (ages 29 to 44), and even 1 in 7 Gen Xers (ages 45 to 60), say they’re still on their parents’ cellular plan, according to a recent survey by WhistleOut, a cellphone plan comparison website.