Your budget is a little tight right now, and you're hoping to add some more room to it. One way to do this is to shrink your entertainment spending every month. How can you manage that?
Saving Money on Books
Go to the Library
That's right. You should get yourself a library card so that your book hauls don't cost you a single thing (as long as you return them by their due dates).
Use a Library App
Do you prefer digital books over paperbacks and hardcovers? Then, you can download a library app to borrow e-books and audiobooks for free. You will still need a library card to do this.
Host a Book Swap
If you are friends with a lot of avid readers, host a book swap. Every attendee should bring a pile of books that they're open to giving away (temporarily or permanently). After the swap, you'll get to add some new titles to your bookshelf without spending a dime.
Saving Money on TV and Movies
Downgrade Your Streaming Services
Are you signed up for a streaming service's premium plan? Then, you can downgrade to a lower tier to save money. A lower tier will have a smaller content library and may have advertisements, but this sacrifice could be worth the monthly savings.
Share Streaming Services
Talk amongst your friends to see which streaming services you're willing to share with each other. This is not an option for all services. For instance, Netflix has recently cracked down on password-sharing. Other companies are not doing this, so take advantage of password-sharing while you still can!
Use Free Streaming Services
There are plenty of free streaming services that you can use to catch up on your favorite shows and find brand-new ones. Some services you can try are Peacock, Crackle, Tubi TV and Freevee. If you have a library card, you can also stream content through services like Kanopy and Hoopla.
Saving Money on Video Games
Get Bundles
If you're in need of new games, and you don't want to spend a fortune, you should buy in bulk. Purchase a game bundle. This will be a collection of different games available at a low price.
Share with Friends
Swapping games is a great way to bond with friends and save money. If your friends don't have any titles you want to play, check out the subreddit /r/Gameswap to see whether anyone in your area does. They may be willing to share.
Trade-In
Your nearest video game store may offer store credit when you give them a copy of a game that you don't want anymore. That store credit can fund your next game purchase.
Living with a Tight Budget
You don't want to live with a tight budget for too long. A tight budget will put you in a precarious financial position where one surprise expense can cause a lot of problems.
So, if you have to cover an emergency home repair, you might not be able to pay for it out of pocket. If you use the money in your checking account, you could put your account into overdraft or miss out on bill payments. Your only solution might be to borrow funds through a credit card or personal loan so that you can pay for the repair quickly. Then, you'll have to repay what you borrowed. Squeezing those repayments into your monthly budget could make it even tighter than before.
Reducing your non-essential expenses like entertainment is a great way to add wiggle room to your budget. If that's not enough, you should try to make some extra cash to bulk up your budget and add to your emergency savings. With fewer expenses and more income, you're bound to be in a better financial position.
You don't have to waste a good chunk of your budget on entertainment. You can easily cut your entertainment expenses and you won't have to be bored for a single second.
