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Easy Ways to Reduce Everyday Expenses
10 tips for cutting costs and getting more bang for your buck
After paying for the basics, you may find there's not much left each month. Fortunately, some fairly easy changes can reduce the amount you spend on basic items and services enabling you to set aside more in savings.
1. Check with your utility and other service providers. Many energy, telephone, cable and other providers are proactively helping customers save. Specifically, a number of energy companies are offering savings tips online, discounts for energy-saving items like florescent bulbs, and even free in-home energy analysis.
2. Save on heating and cooling while you're away. Program your thermostat or manually adjust the settings higher or lower-depending on the season, when you're at work or on vacation. Also, remember to change air filters every month to keep operating costs low, and keep heating and cooling vents free from items, such as draperies, furniture or rugs that may block airflow.
3. Wash full loads only. Conserve water by only running the dishwasher when it's full. The same goes for laundry, and if possible, adjust your washer's water level to the size of each load.
4. Grocery shop alone and on a full stomach. You've heard it before, but it's worth repeating, shopping with spouses and kids can lead to excess spending and surprises at the checkout. Additionally, an empty stomach could influence less-than practical food selections.
5. Plan meals and make a list. Planning out a week or two of meals makes it easier to write a list and stick to it when shopping. A list also can help you quickly scan online or circular coupons for only those items you need.
6. Review your insurance. Make sure your auto, home and health insurance coverage is appropriate for your age, marital and family status. Insurance needs change over time, and depending on your life stage it may make sense to adjust deductable or coverage levels.
7. Consider bundling up. If you receive telephone, television and Internet services from different companies, there's a good chance that you could save each month with a bundled offering from a single provider. When taking advantage of a limited-time offer to make the switch, be sure to cancel or renegotiate when the rates increase.
8. Only pay for what you use. Do you really use all of those cell phone minutes? Do you really watch all of those 900+ TV channels? Review your phone and TV plans and consider switching to a more basic plan.
9. Consider public transportation. Now's as good a time as any to consider alternative transportation. Depending on where you live, the bus, train or other mass-transit option can help you save on gas and parking expenses. Additionally, the ride can save you the stress of driving in traffic, give you some downtime before and after work, or even the opportunity to catch up on a good book.
10. Change your way of thinking. One of the best ways to ensure that you can stick to your new budget is to change your attitude. Don't focus on what you're giving up. Instead, shift your perspective to what you're gaining as a result of your efforts-like your new savvy approach to cost-cutting.
