Since I track my expenses on a monthly basis I can easily see how much money I save from month to month and year over year. The majority of my medical expenses started on September of 2015 where I had a CT scan, PET scan, surgery, and two biopsies. Within two months, I had hit my out of pocket maximum for the year. That’s how expensive treating cancer can be.
It was in January 2015 that I had started really looking at my expenses and how to minimize them and maximize my savings. I guess that makes me lucky because I had a good amount of savings before my diagnosis even happened. But, the following areas are where I figured I could save some money: groceries, eating out, gas, natural gas, electric, auto insurance, mortgage overpayment.
From September thru December, here is what I saved in each of those categories (compared to the previous year):
- Groceries: $466.28
- Eating out: $194.84
- Gas: $148.87
- Natural gas: $49.66
- Electric: $6.64
- Auto Insurance: $937.44
- Mortgage overpayment: $250
That totals $2,053.73 over four months. Sure, that doesn’t fulfill my whole out of pocket maximum of $4,000, but it gets me halfway there without dipping into my savings and by making pretty painless cuts. I plan grocery shopping with sales and eat down stock of what I already have and I turn down my thermostat. I searched for cheaper insurance and since I overpay my mortgage, I have the option to reduce my payment down to the regular payment.