Whack Down Bills and Whack Away Unnecessary Spending
Budgeting is one of the most effective ways to take control of your finances, but it can feel overwhelming at first. The good news? It doesn’t have to be! By taking a few intentional steps, you can “whack down” your monthly bills and “whack away” unnecessary expenses—giving you a budget that works for you, not against you.
In this video, HINGE Financial Coach Tom Wood breaks down these two simple strategies that early childhood teachers can use to reduce their expenses and make sure their money is working for them. Read more below for a closer look at how you can apply these principles in your life.
1. Whack Down Your Bills
Some bills are non-negotiable—you need internet, phone, insurance, and other essential services to keep your household running. But just because you have to pay for these things doesn’t mean you have to overpay. A key part of budgeting is reviewing your recurring expenses and making sure you’re getting the best possible deal.
Here’s how to whack down those essential bills:
Compare Prices with Competitors – Whether it’s your internet provider, car insurance, or even trash service, it’s worth taking the time to research what competitors are offering. Companies frequently change pricing structures, and new promotions or customer loyalty discounts could make switching worth it.
Negotiate with Your Current Provider – If you find a better deal elsewhere, don’t cancel your current service just yet. Call your provider and ask if they can match or beat the competitor’s rate. Many companies have retention departments that are trained to offer discounts or perks to keep you as a customer.
Bundle and Save – Some services offer discounts when you bundle them together, such as home and auto insurance or internet and phone. If you’re using multiple providers for similar services, check if consolidating could lead to significant savings.
💡 Pro Tip: Companies want to keep your business. Even if you’re not ready to switch, just letting them know you’re shopping around or considering canceling can be enough to bring them to the negotiation table. Many companies will offer special retention discounts, lower rates, or even bonus incentives to convince you to stay.
By regularly reviewing these essential bills and making a few calls, you could save hundreds—or even thousands—of dollars each year. That’s money that can go toward your savings, debt payoff, or other financial goals.
2. Whack Away Unnecessary Spending
Once you’ve tackled the must-have bills, it’s time to take a hard look at where your money is slipping through the cracks. Streaming services, eating out, and impulse buys may seem small in the moment, but over time, they can drain your budget and keep you from reaching bigger financial goals.
The truth is, cutting back on unnecessary spending isn’t always easy. It requires discipline and sometimes saying “no” to things that bring short-term comfort. But here’s the good news: the more you take control of your finances, the more empowered you’ll feel—not just over your budget, but over your life.
Here’s how to whack away those extra costs:
Audit Your Subscriptions – How many streaming services are you actually using? If you’re paying for Netflix, Hulu, Disney+, and more, it’s time to cut back. Pick one or two and rotate them every few months if you want variety. The same goes for other subscriptions like meal kits, premium apps, and online memberships.
Rethink Eating Out & Delivery – DoorDash and Uber Eats are convenient, but those delivery fees and tips add up fast. Instead of ordering takeout multiple times a week, challenge yourself to cook at home more often. Meal planning and prepping ahead can save you time and money, while also helping you make healthier choices.
Pause Before You Purchase – Impulse spending—whether it’s a new gadget, clothes, or coffee runs—can derail your budget before you even realize it. Before making a purchase, ask yourself: Do I really need this? If it’s not essential, consider waiting 24 hours to see if you still want it. More often than not, you won’t.
💡 Pro Tip: Every dollar you cut from unnecessary spending is a dollar you can put toward something that truly matters—building an emergency fund, paying off debt, or finally taking that trip you’ve been dreaming about. The more intentional you are with your money, the more control you’ll feel over your future.
At first, making these changes can feel restrictive, but over time, you’ll notice a shift: instead of feeling deprived, you’ll feel powerful. You’re no longer just reacting to your finances—you’re actively shaping your financial future. And that’s a feeling no amount of takeout or streaming services can replace.
Final Thoughts
Budgeting doesn’t have to be an intimidating task. By following Tom’s advice on “whacking down” your bills and “whacking away” unnecessary costs, you can regain control over your finances. It’s all about taking small, deliberate steps to reduce wasteful spending and focus on your priorities.
At BOOST, we believe in helping early childhood educators achieve financial stability, and learning how to budget effectively is an essential part of that journey. Take the time to review your expenses, eliminate unnecessary costs, and prioritize your financial health. You’ll be amazed at how much more confident and in control you’ll feel!
BOOST is here to support early childhood educators — reach out to our Director of Teacher Success Whitney Carper at wcarper@boostbyhinge.org if you need help navigating financial challenges.