Believe it or not, there are lots of ways to save money, no matter how much of it you have- or don’t have. I myself struggled for many years paying my own bills, but have since found numerous ways to save money. I have been able to save on things like food, gas, and clothing. The trick is, you just have to know where to look to find the savings. Here are things I learned in this process:
Eliminate All Unnecessary Expenses
The first thing you need to do is eliminate all of your unnecessary expenses; the things that you can live without. Here are some examples:
- Stop eating out on the weekend. Instead, have your pals over for some tasty treats and a visit. If you’re lacking on equipment front, check out Amazon for some great deals on appliances. My husband and I have stocked our kitchen this way in the past.
- Stop buying lunch every day. Instead, do a bit of planning and bring a lunch to work. It can save you bundles. And don’t worry, lunches don’t need to be complicated. Leftovers from last night’s dinner and some fruit work just fine.
- Stop paying for subscriptions. This past year I cancelled my magazine subscriptions. Instead, I have singed up to receive them online and in my email inbox. Not only does it save me money but it is also the greener choice. If I can’t get the item online, then I check with my local library to see if they have it for sign out.
- Stop paying for cable. There are so many options to get shows online now and legally, that it is a waste of money to pay for cable. Plus, by watching shows without commercials you are less likely to be influenced to buy items you don’t need. And finally, if you don’t pay for cable and limit the amount of shows you watch, it is amazing how much time you save. This time can be used towards other projects and to do lists you have on the go.
- Buy cheap groceries. Now when I say cheap, I don’t mean skimping on quality. Rather, buy groceries when they are on sale and have coupons. This can save you boatloads of money. Buying generic groceries compared to name brand also saves you money. By implementing these two things into your shopping, you can drastically reduce your grocery budget for the month.
- DIY: Did you know that most of the things we buy, we can actually make ourselves? Not only is this cheaper, it is often healthier too. There are numerous books out there on how to make your own cleaning products and cosmetics for a fraction of the price you would buy them at a store for. Plus they are healthier for you and the environment. One of my favourite books is called Do It Gorgeously. It is loaded with recipes for the DIYer.
- Shop for the lowest prices: For the expenses you can ‘t eliminate, like insurance for example, start shopping around for the best prices. Long distance telephone services, mortgages, home insurance, and utility costs can all be reduced. You just have to shop around. It doesn’t take any special skills to do this, just some time to get the research done.
To find other ways to reduce your expenses, take a close look at your checkbook and credit card statements. It can help you identify other areas where you are spending money that you can cutback. You will be amazed at how many ways you can save money, especially once you start looking carefully at where you are putting your money every month.
You see, it’s ok to reward yourself once in a while, but if you are really looking to get out of debt faster, then you owe it to yourself to save every penny that you can. Start cutting back and shopping around for ways you can reduce your monthly bills so you can join me on the road to financial freedom.
So have you recently reviewed your expenses? Where have you been able to cut back?
2nd time this has happened Miss T! Our article today was devoted to bringing a healthy lunch from home!
@SPF It’s nice to see we think alike.
These are great tips! I’ve been reducing my eating out budget by using only cash. However, I just became a cable subscriber for the first time ever (I’ve gone 13+ years without a television and cable – but I’m supposedly going to save money on my phone bill as soon as we bundle it! – We’ll see about that.) I’m now tracking my spending diligently so that I can save at least 10% – 13% of my income.
@ Little House Good for you with saving 10-13% of your income. That is awesome. We too have bundled services and it has saves us some money but we are actually looking for other ways to get the same services for cheaper. We might very well be cancelling our cable soon.
And yes, a cash budget can be really helpful at keeping one on track. Once your $20 bill is gone, you have to wait until next payday.
I completely agree with getting rid of the cable. You can totally live without it if you just get the digital channels with rabbit ears now. Another thing I lowered the cost of was my cell phone bill. I started using a prepaid service called StraightTalk. It cut my bill in half and I actually have more reliable service, and I even have a smartphone to boot.
@ Kim J I have heard of StraightTalk but haven’t tried it yet. Glad to hear it is working well for you. The more ways we can find where we can save money the better. Why not use our money for what we really want?!