9 Downsizing Tips for the Middle Class To Save on Monthly Expenses

He said by cutting the cord and opting for a high-speed internet plan paired with a few streaming subscriptions, families can save upwards of $100 per month.

Justin Godur, finance advisor and founder of Capital Max, agreed. “Often, we subscribe to expensive cable packages thinking we need numerous channels or premium content,” he said.

However, he noted that most people don’t utilize half of what they pay for. “Opting for selective streaming services or a basic cable package can save a substantial amount each month.”

Don’t Make the Wrong Call With High-End Smartphones

“While the allure of the latest smartphone model is strong, these devices can be incredibly expensive,” Godur said. “Opting for a model that’s one or two generations older can still provide excellent functionality at a fraction of the cost.”

Buy Generic and Skip Brand-Name

Shopping for groceries — or medications — can quickly become expensive when opting for brand-name products.

“Many store-brand items are nearly identical in quality but are significantly cheaper,” Godur said. This simple switch can save a noticeable amount each month without sacrificing quality.

Skip Gym Memberships That Aren’t Working Out

“Gym memberships are beneficial, but often underutilized,” Godur said. “Considering the cost, it’s practical to switch to cost-effective or free alternatives like outdoor exercises, community sports groups or even online workout classes that are much cheaper or free.”

Shirshikov shared a similar view, saying many people pay for memberships they rarely use. But he also advised that when the weather permits outdoor activities like running, biking or hiking, those in the middle class should explore home workout routines or local community centers with lower fees.

“This can be an effective way to stay fit without the high costs,” he said.

Ditch Your Daily Coffee Purchase

This last tip is arguably a bit tired, but it doesn’t make it any less true.

“A daily coffee purchase at high-end cafes can quietly drain your wallet,” Godur said. “Investing in a good coffee maker at home can dramatically cut down your monthly expenses and you might find you enjoy the taste of your home brew just as much.”