30 Practical Ways to Cut Expenses
The times are oh-so-bad and recession or depression or a slowdown (whatever you may call it) is upon us. Well, this world is all about survival of the money savers and so, save we must - here are 30 practical ways of cutting expenses and saving big:
1. Cut back on energy costs whenever possible. Hang clothes instead of using your dryer whenever possible (outdoors in nice weather and inside on racks during bad weather). Use energy saving CFL lights. Get in the habit of turning off lights and appliances when you leave a room.
2. Skip the movies and rent or borrow dvds. You will also save money by making your own popcorn.
3. Instead of meeting friends at the coffee shop or bar, call them home. Potluck dinner parties are a good idea.
4. Do you eat out at work? Plan ahead and pack your lunch.
5. Use public transportation or a carpool.
6. Go generic on prescription and over the counter drugs whenever possible.
7. Use coupons while shopping at grocery stores, and always shop according to a list. Preferably shop on double-coupon days. Maybe, you can buy supplies from bulk food warehouses.
8. Try to limit long distance calls to nights and weekends unless you have an unlimited calling plan.
9. Start saving your spare change. You will be surprised at how fast it adds up.
10. Never pay full price for clothing. Check the sales flyers in your Sunday paper. Why pay full price on a pair of jeans at one store when another store is having a sale?
11. Can anyone really afford cigarettes anymore? For the sake of your budget and your health now is a good time to quit.
12. Save water - keep your showers short.
13. Don’t waste money on a gym - instead, jog, walk, workout at home or cycle.
14. Keep your vehicle well maintained. That way you will hopefully get many more miles out of it well after it is paid off.
15. Shop discount stores. But be careful, sometimes you can still find the items cheaper on sale somewhere else.
16. Do you have high interest credit cards? Consider refinancing or making power payments each month (making more than the minimum payments).
17. Eat out less. Try to keep stocked up on the ingredients for quick meals to keep from going through the drive-thru on days you are just too tired to cook.
18. Don’t be afraid to ask for a deal when buying large ticket items such as cars and furniture.
19. If you’re paying a high rent, move to a cheaper place.
20. Do you freecycle? Many communities have local chapters that you can sign up for to give away or get things for free. Go to Freecycle.org for more information.
21. Stick with the cheapest cable plan you can get. Check your local library to borrow video tapes and dvds for free.
22. Don’t waste money on manicurists and pedicurists - you can do their work yourself at home.
23. Open a savings account that you use just for emergencies. If possible have just $5.00 per week taking right out of your paycheck and work your way up. This will come in handy the next time you have an emergency car repair.
24. Dry cleaning can eat up a large portion of your monthly budget. Try to add more items to your wardrobe that you can wash yourself.
25. Do some comparison shopping on insurance for anything from car, life insurance, homeowners, etc.
26. Drink less soft drinks and more water. Not only will it save on your grocery bill but it is also better for your health.
27. Have a yard sale. Not only will you make some extra cash but you will also get rid of excess clutter.
28. Always pay your bills on time. Late fees can really eat up your budget.
29. Plant a vegetable garden. If you don’t have a lot of space you could try container gardening.
30. Don’t be afraid to splurge once in a while. If you cut back here and there you deserve to treat yourself once in a while. Just make sure you plan for it.
Whether you try just a few of these tips or all of them, these tips can really help you stretch your budget.
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