Whether you’re cutting costs because you need to or want to,
the process should be manageable and positive. These 10 tips can help reduce
your spending this week without making major sacrifices or time commitments.
1. Make a Budget.
Before taking action, sit down and figure
out what you have to work with, then prioritize your expenditures. Making a
budget is the most important thing you can do because then you will be able to understand
where your money is going and where you can afford to make cuts.
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2. Create a Shopping List.
Sticking to a list will make you less
likely to buy impulsively and forget necessary items, both of which can quickly
increase the amount of money spent in a week. You will also save money on gas because
you won’t be making as many trips to the store.
3. Clip Coupons and Compare Prices.
Buy an additional copy of the Sunday paper
and check through all the store circulars you receive. You can also find
coupons online. If couponing isn’t your thing, spend a little time researching
where you can get the most for your money.
4. Shop Smarter at the Grocery Store.
Try cutting back on grocery shopping
overall to use up what you have before purchasing more. However, if you need to
make a trip to the supermarket, avoid going hungry and try to make some compromises.
Find alternatives for those expensive items on your list. If you like organic
food, consider buying only organic for the produce most susceptible to chemical
residue. Instead of buying all organic.
5. Pack Your Lunch.
Although it might not be the most enticing
option, the money you can save by bringing lunch from home instead of eating
out every day can really add up. To add variety, try getting your co-workers involved, too. Get a group
together and pick a day for each person to bring lunch for everyone. You will
save money, eat healthier and have fun at the same time.
6. Cancel Email Deals and Sale Alerts.
Avoid the temptation of unnecessary
shopping by unsubscribing to daily deal emails and other sale announcements.
Get out of the mindset that shopping sales when you don’t need to shop is
saving you money. Sure, you are going to spend less money that you normally
would have, but would you have spent that money anyway.
7. Buy Things Used.
You can save a lot of money shopping at
thrift stores, yard sales or even on Craigslist and eBay. Stop thinking that
everything you buy has to be brand new. And just because you are buying used
doesn’t mean you are buying junk.
8. Drive Less, Bike More.
Not everyone can cut out driving completely,
so focus on making reasonable compromises. A lot of people cannot bike
everywhere because of long commutes, but that doesn’t mean you can’t use a bike
to get to places locally. Not only will you spend less on gas, but you will get
more exercise too.
9. Evaluate Your Utilities and Services.
Call your cable and internet providers to
see if you can negotiate a lower bill. If not, consider reducing or cutting
those services altogether. There are so many other options out there for less,
like Netflix and Hulu. To keep your utility costs down, opt for fans instead of
air conditioning and turn off all unused lights and appliances.
10. Save
Before You Spend.
Instead of rushing to the store on payday,
consider the long-term benefits of reducing your spending today. Another way to
cut spending is to adopt a ‘save-first’ mentality. Whether you store money in a
separate savings account, an emergency fund or in retirement savings, make those
contributions right away, before you spend a dime on anything beyond the
necessities.
Finally, establish good habits for the future. Consider
turning these immediate changes into long-term habits to keep your overall
spending low. Don’t say no to everything because you are much more likely to
give up if that happens. Frugal living isn’t about waiting for things, it is
about spending less on the things that don’t matter to you as much, so you can
spend more money and time on the things that do matter.
"We make ourselves rich, by making our wants few." ~ Henry David Thoreau
