What are some of your ideas on the best ways to cut expenses?
I already…
- Buy only used cars. I usually buy at a great price, and drive for 2-3 years and I’m able to sell it near what I paid for it.
- Shop for best prices on products and services online.
Etc.
I know your biggest expense is Taxes, so I’d like to ideas there.
As well as lowering costs on:
- Housing
- Gasoline
- Groceries
- Eating out
- Products
- Services
- Financial products
- Entertainment
- Travel
- Insurance
- Medical Services
- etc.
Thank you
Best Ways To Cut Expenses?
Oct - 22 | By: AHT | 4 comments.
Filed under : Health Insurance
4 Responses to “Best Ways To Cut Expenses?”
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First I’d look at all your bills and make sure you’re getting the best deal on all of them. For example:
- Cable: Do you really need 3000 channels? Or could you do with 300? Or could you save $20 / month by switching to satellite?
- Cell phone: Do you have extra minutes each month and could cut back to a more reasonable plan? Or do you go over each month and need to upgrade your plan? Also, if you have a cell phone, do you need a land-line phone as well? Lots of people are getting rid of these.
- Bundling- can you bundle your phone, cable and internet together? Call the company and try to work a deal.
- Credit cards- If you carry a balance, call each company and ask for a lower interest rate- and then PAY THOSE OFF!!!
- Insurance- Shop around for insurance and see if you can get lower rates. If you have auto & home insurance, you can likely get a deal for getting them from the same company. Also let them know what other companies quoted you. If you can afford it, consider a higher deductible to lower your montly charges. If you have to cover your own health insurance, consider an HSA to save on taxes.
On the other side, make sure the money you have is working for you. Shop around for a high-yield money market or savings account. Online accounts often have very high interest rates- some over 5%. Have some money taken out of your paycheck automatically each time and put into savings.
Other ideas:
- pack your lunch
- bring a 24 pack of Cokes to work instead of buying from the vending machine
- buy in bulk and then divide it up into smaller packages when you get back from the grocery, freezing if necessary
- look for coupons, including on Ebay (yes, people sell coupons on there- look for ones for items you buy often)
- get an Entertainment book and use it- look to it first when you want to go out to eat / go putt-putting…
Saving on eating out requires planning- I’m still working on this one!
I try to think of what I like to eat at restaurants before I go for groceries and buy similar foods.
Spend a Sunday making some of these dishes and freeze them for the coming week. You usually eat out when you’re too busy or too tired to cook.
Homecooked versions always taste better and are much cheaper than restaurants.
Now if we could only get in the habit of doing this every week!
Bon appetit!!!
There is no formula to cut expenses.
Whenever you want to buy anything, ask yourselves, if you can do without it now? Can you push it to next month?
Try this, it works!
Well, katiexm has pointed out some good examples there. Everytime, you buy something, think it twice or you have to make another trip to return it. You’re burning more gas
.
Change regular light bulb to CFL would have saved you a few bucks a month. When you go to work or absent the house for a long hour. Turn off the AC. Maintenance your car to avoid major problems like changing oil for 3K miles and change air filter twice a year.
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