If you are struggling with debt then there are many ways to cut your expenses for living and find yourself with a lot more available income. It make a huge difference to your financial situation and help you to pay back loans or to put money aside for a rainy day. Here we will look at ways to cut expenses right away that will make a big difference to your life.
1. Phones : Eliminate your cell phone and shop around for a long distance carrier with a low rate per minute and no monthly fee.
2. Subscriptions : Cancel newspapers, magazines, and other periodicals. Everything you need is free at the library, accessible via the internet or on television.
3. Utilities : Turn down the thermostat, use energy efficient lamps in fixtures, turn off the lights when you leave a room, ask your local utility companies about budget billing, and review the many other energy and money saving tips.
4. Taxes : If you’re employed, ask if your employer offers a Section 125 Plan or Flexible Spending Program.
5. Medical : Purchase generic prescriptions when possible and obtain the best price by calling and comparing prices at local pharmacies, increase your medical coverage deductible, and read and understand your medical plan to be a smart consumer of health care services.
6. Recreation and fun : Stay home with a good book or rent a video or DVD instead of going to the movie theater. Pop your own popcorn, snuggle up in your favorite chair, and have a fun night at home. As painful as it might be, you could also drop your cable TV.
7. Lifestyle : Money problems are seldom about money but rather emanate from your lifestyle choices.
8. Kick the Habit : Whether you smoke, drink or have another vice, kicking a bad habit can be a fantastic way to cut expenses considerably. If you want some motivation to help you stop killing yourself, then put the money you save each week to one side or even increase your debt repayments.
9. Walk : One way that you can cut expenses to a very high degree is to get rid of your car and start walking more places. For many this might seem like an extreme step, but the financial boons are difficult to ignore as you will save money on petrol, insurance, tax and your MOT and you’ll make a lot of money on selling the car too.
10. Buy Value Food : Almost every supermarket has an ‘own brand’ that it sells for a reduced price. Often these value options aren’t as tasty or as well packaged. Promising yourself to buy value for all of your condiments, flavorings is a great way to cut expenses and you’re unlikely to notice much difference in flavor.
11. Turn Off : We all have lots of direct debits coming out of our accounts that we don’t need, and one of the biggest culprits is extra television channels. The great news is that by turning off the television and computer you can spend more time as a family or out getting exercise as well as it being a great way to cut expenses.
12. Make Gifts : We all love lavishing our loved ones with expensive gifts, but if you’re in a lot of debt this is an unnecessary waste of money and a lot of stress.
1. Phones : Eliminate your cell phone and shop around for a long distance carrier with a low rate per minute and no monthly fee.
2. Subscriptions : Cancel newspapers, magazines, and other periodicals. Everything you need is free at the library, accessible via the internet or on television.
3. Utilities : Turn down the thermostat, use energy efficient lamps in fixtures, turn off the lights when you leave a room, ask your local utility companies about budget billing, and review the many other energy and money saving tips.
4. Taxes : If you’re employed, ask if your employer offers a Section 125 Plan or Flexible Spending Program.
5. Medical : Purchase generic prescriptions when possible and obtain the best price by calling and comparing prices at local pharmacies, increase your medical coverage deductible, and read and understand your medical plan to be a smart consumer of health care services.
6. Recreation and fun : Stay home with a good book or rent a video or DVD instead of going to the movie theater. Pop your own popcorn, snuggle up in your favorite chair, and have a fun night at home. As painful as it might be, you could also drop your cable TV.
7. Lifestyle : Money problems are seldom about money but rather emanate from your lifestyle choices.
8. Kick the Habit : Whether you smoke, drink or have another vice, kicking a bad habit can be a fantastic way to cut expenses considerably. If you want some motivation to help you stop killing yourself, then put the money you save each week to one side or even increase your debt repayments.
9. Walk : One way that you can cut expenses to a very high degree is to get rid of your car and start walking more places. For many this might seem like an extreme step, but the financial boons are difficult to ignore as you will save money on petrol, insurance, tax and your MOT and you’ll make a lot of money on selling the car too.
10. Buy Value Food : Almost every supermarket has an ‘own brand’ that it sells for a reduced price. Often these value options aren’t as tasty or as well packaged. Promising yourself to buy value for all of your condiments, flavorings is a great way to cut expenses and you’re unlikely to notice much difference in flavor.
11. Turn Off : We all have lots of direct debits coming out of our accounts that we don’t need, and one of the biggest culprits is extra television channels. The great news is that by turning off the television and computer you can spend more time as a family or out getting exercise as well as it being a great way to cut expenses.
12. Make Gifts : We all love lavishing our loved ones with expensive gifts, but if you’re in a lot of debt this is an unnecessary waste of money and a lot of stress.
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