30 Ways To Reduce Your Spending
July 4, 2008 2:40 am FinanceWith the high cost of gas and groceries these days it is a wonder anyone can make ends meet. You might feel like your budget is already stretched as thin as it can go but you would be surprised. Here are 30 ways to cut expenses. Try just a few of them and see if you can start saving more of your paycheck each week.
1. Save on energy costs. Use power saving CFL lights. Hang your clothes instead of using the dryer, Only run things your dishwasher when full. And don’t leave lights or appliances on unless you are using them.
2. Go for a matinee show on weekdays. Avoid weekends.
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. Share rides to work with co-workers or use public transportation.
6. Go generic on prescription and over the counter drugs whenever possible.
7. Do you see a good sale for a product you use anyway? Stock up whenever possible! If you have coupons for the sale item you can save even more.
8. If you make a lot of long distance calls then it may pay to go with a plan that offers free long distance. Otherwise, limit calls to nights and weekends when rates are normally cheaper.
9. At the end of the day get into the habit of putting all your spare change in a jar. Once it is full roll it and put it in a savings account. Some banks will even count it for you for free.
10. Buy clothing off season and never pay full price. Often what you find at one store full price will offer something similar on sale.
11. Stop smoking. Easier said than done but can you really afford not to?
12. Save water - keep your showers short.
13. Save money by working out at home. Rent or borrow an exercise dvd before buying to make sure you like it.
14. Maintain your car yourself - i.e., do basic stuff like changing the oil, washing it, etc.
15. Dollar stores are a great place to stock up on items such as wrapping paper, gift cards, gift bags, etc.
16. Do you have high interest credit cards? Consider refinancing or making power payments each month (making more than the minimum payments).
17. Keep ingredients on hand for meals that you can have on the table in under 30 minutes. This just might keep you from ordering take out if you had a busy day.
18. Don’t be afraid to ask for a deal when buying large ticket items such as cars and furniture.
19. In the market for a new home? Find a home under the price the your bank has pre-approved you for. With more affordable payments you may even be able to pay a little extra on your mortgage each month.
20. Try Freecycle.org for getting and receiving unwanted items for free. One man’s trash is another man’s treasure!
21. Subscribe only to the TV channels that you watch and cut out the rest.
22. We all like to splurge once in a while on things like manicures but if are trying to save money consider doing this yourself.
23. Start a savings account just for emergencies. Start small like $5.00 per week.
24. When shopping for your work wardrobe try to avoid anything that is “dry clean only”.
25. Shop around for cheaper car insurance, homeowners, etc.
26. Drink more water. Sugary soft drinks should be an occasional treat instead of an everyday staple.
27. Reduce clutter and earn some extra money with a garage sale.
28. Pay bills on time to avoid late fees and higher interest rates.
29. Consider planting a garden. Produce such as zucchini can be shredded and frozen for future recipes. Find information at your local library online on how to get started.
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.
These are just a few tips to help you stretch your budget. You might even come up with a few of your own!
