In the United States, we’re fortunate to live in times that are mostly prosperous. But there are occasions when the going gets tough financially. The Great Financial Crisis of 2008 is the first to come to mind, but the recession of 2022 is the most recent.
Difficult economic times can be a wakeup call for households to take stock of their expenses, and search for ways to save money. And to put it to work elsewhere, like the stock market.
In this article, we’ll take a look at 7 household expenses that are easily forgotten when times are good, but could be the first to go during times when every dollar counts.
#1: Pest Control
Savings: $500-$600 per year
In the Midwest, pest control companies come out in force during the summer, maybe stronger than the pests themselves. Sales representatives go door-to-door hoping to lock-in customers for a monthly subscription. They linger way too long on the front porch and won’t take no for an answer. I give them an A for effort.
Personally, I have no issue running sales reps off as I have no desire to spend money on pest control. But I have a wife, and she tends to disagree. So, Orkin comes in monthly to spray around the house for spiders, ants, termites, etc…
At my house, Orkin is paid via autopay. Truthfully, before drafting this article I wasn’t sure how often or how much I pay for the service. Thus, in lies the opportunity. Pest control is easy to forget.
Orkin stops by once per month and rarely speaks with the homeowner when they do. Then the bill is auto-drafted from your account.
Orkin charges around $50 per month, which equates to $600 per year. Buy some bug-killer from Lowe’s or Home Depot and ditch the Orkin-man.
#2: Lawn Mowing
Savings: $800-900 per year
I mow my own grass. I’m a former golfer and a bit OCD, so I like my yard to look a certain way. But there have been times where I’ve had to pay to have the yard mowed. Probably a third of my neighbors pay someone to mow their grass.
In the Midwest, people start mowing grass in April and typically end before November. Most lots in my neighborhood are around a quarter of an acre and are mowed weekly.
I paid $30 to have my 0.25 acre yard mowed those times I was unable to do it myself. If there are 28 weeks from April thru October, that equates to $840 per year to mow grass.
Ditch the yardman, fire up that old mower and take care of it yourself.
#3: Lawn Treatment
Savings: $500-$600 per year
Lawn treatment is an expense that’s very similar to pest control. Companies such as TruGreen sign customers up for an annual plan, treat lawns 6 times per year, then get paid via autopay. It’s another expense that’s easy to forget.
The only evidence TruGreen or similar company provided service at the house is the sign they leave planted in the yard.
TruGreen charges around $90 per treatment. And with 6 treatments per year, that equates to $540. Buy some Scotts Miracle Grow, treat the yard yourself and ditch the yardman.
#4: Carwash Monthly Pass
Savings: $400-$900 per year
Carwashes seem to be popping up everywhere these days. Mike’s Carwash is especially popular in my area. These companies lure customers in with a $15 wash and free vacuums with every paid service.
To make it more enticing, Mike’s offers monthly passes which grants customers an unlimited number of washes per month. Plans start at $36 per month and go all the way to $79. This equates to around $400-$900 per year.
While it’s nice to drive thru a Mike’s Carwash to get all the salt off your car after a snow storm, it may be more practical to pay per wash or to wash the vehicle yourself when money is tight.
#5: YouTube TV
Savings: $700-$800 per year
Long gone are the days of cable television. Most households now stream television via Netflix, Amazon Prime and others. These streaming services are surprisingly cheap, usually less than $20 per month.
But YouTube TV, while offering more channels and live coverage, still costs $65 per month. When money is tight, households may be better off ditching YouTube TV and subscribing to a new or different streaming service.
Disney currently offers a bundled trio of Hulu, Disney+ and ESPN+ for $13 per month. You may not get all your favorite channels or live sports, but you’ll have more money in your pocket.
#6: Instacart
Savings: $600-$800 per year
Instacart is all about convenience. With 4 kids aged 3 to 11, my family is a frequent user of Instacart. The thought of lugging 4 kids into the grocery store to wander the aisles for 40 minutes while they whine and beg for food is depressing. Which is why we use Instacart.
Instacart is a great idea right up until the point of checkout. Instacart fees include delivery (around $4), service and shopper tip (both around 5% of grocery subtotal).
Let’s say an average family spends $1,000 on groceries each month and shops weekly. If shopping is done with Instacart twice per month for a total of $500, that equates to around $60 per month or $720 per year.
When times are tough, stuff those kids full of sugar, load them in the car and head to your local grocery store. Your patience may be lower, but your bank account will be higher as a result.
#7: ADT Security Monitoring
Savings: $500-$600 per year
Home security is always a good idea. ADT is a household name in the business, but technological advancements mean they’re no longer the only game in town. Ring Doorbell and SimpliSafe are names that come to mind.
ADT employs the same sales tactic as the pest control and lawn treatment guys. They sell you on free installation, and hook you on security monitoring which costs around $50 per month. By comparison, Ring Doorbell plans start at $40 per year with the Pro plan only costing $200 per year.
That’s a considerable savings over ADT for a similar service.
Prior to renewing your ADT subscription when your contract comes due, consider opting for a cheaper option such as Ring Doorbell of SimpliSafe Home Security.
Bonus: Smartphone Apps
It’s almost a guarantee you’re paying a monthly fee for an app you no longer use or only use sparingly. Or that you paid an annual subscription for an app, no longer use it and yet it’s set to auto-renew in the future.
Check your smartphone to see what apps you’re currently paying for and no longer use. Then cancel the renewal and prevent a few bucks from slipping out of your pocket.
