If you are looking for ways to cut your expenses so that you have more money available to pay down your debt or to save, then take a look at these ways you can cut your monthly expenses.
Know Your Expenses
If you want to cut down your monthly expenses then you will first need to know what you are spending your money on. You should know exactly what you are spending even every cent and write down all these expenses. You will then be able to see where you are able to cut costs.
Stop the Takeaway Coffees
If you are constantly grabbing a cup of coffee on the way to work then you should add this expense up because you will be surprised how much that coffee is costing you. Rather get a nice flask and make your own coffee.
Walk or Cycle to Work
One way that you can save money if you live close to work is to stop using your car or public transport and rather cycle or walk to work. This will save you money and you will become fitter in the process.
Shop Sales and in Thrift Stores
Sales are a great way to save money, because you will be able to get that item you have been looking for but for less. Second hand stores can also be a treasure trove sometimes and you might find something that you can upcycle. If you need to update your wardrobe or your home then try the cheaper alternatives first.
Go Unbranded at the Supermarkets
You might be only saving a little on each item, but the taste is basically the same. Shopping unbranded grocery items will save you money.
Cook your Meals in Bulk
On a Sunday, set aside a few hours and make a bunch of different dishes for the week and put them in the freezer. This ensures you always have something tasty to eat and you won’t be tempted with takeaways.
Cut Back on Expensive Drinks
A lot of people will spend a small fortune on drinks on a night out. You should try and cut back on these or go alcohol free for a while and see how much you save.
Get Rid of Large Overdrafts
If you have a large overdraft then the chances are that you will spend it each month. If you don’t want to completely lose your overdraft, you can cut it by half and see if that makes you more careful with money.
Get Rid of Your Unwanted Stuff
If you have a bunch of stuff that you don’t need any more then why not sell them. You can have a sale or sell the items on eBay.
Check your Insurance
If you have any type of insurance then you should shop around, compare prices and find the best deal so you can save some money.
Wait…there are still more ways you can cut expenses…
Save your Change
Have a jar for all your lose change and count this up when its full, see how much you have saved.
What Do You Pay for Your Internet and Phone
Have a look at current internet deals and see if you can find what you want for cheaper. The same goes with your cell phone deal as there might be a cheaper deal that suits your needs.
Make Your Own Cleaning Products
Cleaning products can be expansive, but there are a number of ways that you can make your own cleaning products and it will be cheaper. For instance, you can spray lemon juice on surfaces to get rid of stains and grease marks, vinegar is great for wooden floors and so on.
Make Your Beauty Regime Simple
We can all be tempted with the fancy creams that claim to give us fresher, fuller and wrinkle free skin, but the truth is that for healthy skin you just need a good diet and plenty of hydration. Try almond or coconut oil instead of expensive creams.
You Don’t Need That Gym Membership
You don’t need to pay to keep fit. You can take a bike ride, jog and do other exercises at home and outside. You can even arrange your own workout sessions with friends that also don’t want to go to the gym.
If you leave a room, flick the switch so you can save on your electricity bill. Another good idea is to replace bulbs with energy savings ones. You will save money and the environment at the same time.
Only Use Cash
You should only allow yourself a certain amount of money each week and only spend that amount. If you keep using credit and debit cards to pay for things, you will find it hard to keep track of your spending.
There are a number of sites that offer deals and discount codes. You should look for these deals and see if you can use any of them to save some money.
Change Your Attitude to Money
You should change your attitude towards money and be grateful for what you have instead of complaining that you don’t have enough money. Changing the way, you think about money, will change the way you use it and will help you to cut expenses.
Once, you start to cut expenses you can use the money to help pay for any debt that you may have or you can use this extra money to create a savings fund so that you are always prepared for any eventuality. Managing money can be hard, especially if you have debt but making small cut backs can go a long way.