Give Yourself a Raise by Cutting These 8 Expenses

We don’t all have jobs that allow us to walk into the boss’s office and demand a raise. If you are a government worker, state employee, or teacher, your salary is set on a detailed schedule defined by years of service, education, and other factors. Likewise, if you’re self-employed, you can’t just ask your clients for a raise overnight. But one way that you can get a raise is by cutting expenses. In this article, we’ll unpack ways to give yourself a raise by cutting these 7 expenses.

#1 – Give Yourself a Raise by Cutting Your Energy Bill

One way to give yourself a raise by cutting your energy bill is to make your home more energy-efficient. Start by replacing old, inefficient appliances with energy-saving models. Use programmable thermostats to regulate heating and cooling, and seal any drafts to prevent energy loss. Switch to LED light bulbs, which consume less energy than traditional incandescent bulbs. Additionally, consider installing solar panels or using renewable energy sources to reduce your reliance on grid power. Conserving energy by turning off lights and unplugging electronics when not in use can also contribute to lower energy bills. Finally, consider conducting an energy audit to identify areas for improvement and make necessary upgrades. By implementing these strategies, you can effectively give yourself a raise by reducing your energy expenses.

#2 – Give Yourself a Raise by Cutting Your Water Bill

You can give yourself a raise by cutting your water bill through various strategies. Start by fixing any leaks in your plumbing system, as even small leaks can lead to significant water wastage and increased bills. Install water-saving fixtures such as low-flow showerheads and faucets, as well as dual-flush toilets to reduce water consumption. Consider using a rain barrel to collect rainwater for outdoor use, reducing the need for tap water for activities like gardening. Additionally, be mindful of your water usage habits, such as turning off the tap while brushing your teeth and only running the dishwasher and washing machine with full loads. By implementing these measures, you can effectively lower your water bill and save money, essentially giving yourself a raise.

#3 – Give Yourself a Raise by Cutting Your Grocery Bill

Giving yourself a raise by cutting your grocery bill involves several practical strategies. Start by planning your meals and creating a shopping list to avoid impulse purchases and reduce food waste. Take advantage of sales, coupons, and loyalty programs to save money on groceries. Consider buying generic or store-brand products instead of name brands, as they are often more affordable without sacrificing quality. Buying in bulk for non-perishable items can also lead to cost savings over time. Additionally, consider growing your own fruits, vegetables, or herbs if space permits, as this can reduce the need to purchase these items from the store. Finally, be mindful of portion sizes and consider incorporating more plant-based meals into your diet, as these tend to be more budget-friendly. By implementing these strategies, you can effectively cut your grocery bill and give yourself a raise.

give yourself a raise by cutting these 8 expenses.

#4 – Give Yourself a Raise by Cutting Your Eating Out

You can give yourself a raise by cutting your spending on eating out by adopting several practical approaches. Start by meal planning and preparing more meals at home, which can significantly reduce the frequency of dining out. When you do eat out, consider opting for budget-friendly options such as lunch specials, early bird discounts, or utilizing coupons and promotions. Additionally, limit the frequency of dining out to special occasions and prioritize cooking at home for regular meals. When dining out, consider sharing large portions or opting for appetizers instead of full entrees to save money. Furthermore, consider exploring affordable dining alternatives such as food trucks, street vendors, or local markets. By being mindful of your dining out expenses and making conscious choices to eat out less frequently, you can effectively cut your spending and give yourself a raise.

#5 – Give Yourself a Raise by Cutting Your Coffee Bill

Cutting out trips to Starbucks, Peet’s, and Dutch Bros. If you really love getting coffee when you’re out and about, I highly recommend the SIP Club at Panera. I love having a regular place I go to write, meet people, and well, drink coffee. For $12.99 per month, you can get unlimited coffee, tea, soda, and charged lemonades (these are crazy good) at any Panera Bread with your monthly subscription. You can also make coffee ahead of time and use a large YETI mug to keep your coffee hot for many hours of your day.

#6 – Give Yourself a Raise by Cutting Insurance Costs

First, call your auto insurance provider or agent and see where you can reduce your coverage or increase your deductible so that you’re paying less per month. Do make sure you have roadside assistance so that you can get a tow if and when you need it. Also, make sure you have uninsured motorist coverage according to the minimums your state requires. Sometimes you can work with an insurance broker who can shop your policy around to find the best option. Our family did this when we started adding teen drivers and we cut our insurance bill by nearly $200 per month. I was doing cartwheels!

As for life insurance, everyone needs term life insurance. This is basic coverage that pays your spouse or loved one a predetermined amount if you die. It does not have a savings vehicle (these policies are sometimes called universal life), so it is the cheapest way to plan for your family’s unknown needs. Pick a 20-year policy and shop around for rates. Aim to renew or find a new term life policy that gets you to (at least) retirement or when Social Security kicks in.

#7 – Give Yourself a Raise by Cutting Interest Rates

In better times, the interest rates were nice and low. Refinancing your home mortgage made lots of sense. Writing this in 2023, the rates are still rather high and it’s likely low rates aren’t available. It’s always worth looking into, however, and a mortgage lender can give you the current rates and estimated payments.

#8 – Give Yourself a Raise by Cutting Fees and Subscriptions

Credit card annual fees – sometimes you can call and ask them to remove these. The worst they can say is no. One year Chase said yes and removed my $69 fee, then the next year they said no. I have no idea why, but was happy to at least have one of the fees waived.

Bank charges are easy to get taken care of, just call your bank and explain the situation, then politely and kindly, ask them to remove the fee. They almost always will. Have you paid your credit card late one month out of 12? Just call the card and apologize, then ask for the fee to be refunded and swear you’ll never be late again.

Have any subscriptions to apps, streaming, extra cell phone services, XBOX, or Playstation games…the list of these fees goes on and on. Evaluate what you really need, then cancel, pause, or trim what you don’t.

By Lauren Hunter

I'm Lauren, and I've been on a journey to earn money and save money for most of my life. As the editor-in-chief of, and as a freelance writer, coach, musician, and entrepreneur, I love looking for new ways to make money and better ways to keep it. I'm also a wife and work-at-home mom (WAHM) to four kids, so budgeting is my middle name. I'm excited to be on this money journey with you!