To really get the most out of what you can save from your expenses, think about what you buy on a weekly, monthly, and yearly basis. If you haven’t already practiced cutting your expenses, you might be surprised how much you can save.
Let’s think in terms of your last month’s spending. Think of everything that you paid for–no matter how big or small–and see where you might have spent less and saved more.
The following are some proven ways of cutting down expenses and saving money:
Cut down on long-distance telephone calls or make calls when rates are cheapest. Research the most cost-effective long-distance plan for your household. Compare the different providers, then choose the plan that best fits your long-distance needs.
Cut down on restaurant and take-out meals, as well as costly prepared foods from the supermarket. Preparing your own food from scratch saves lots of money.
Bring your lunch to work. You’ll quickly realize how much money is saved after one month of “brown bagging.” Try putting yourself on a lunch budget whereby you treat yourself one or two times per month.
Try to reduce your home-utility bills by turning off lights when you’re out of the room, being conservative with the thermostat, checking weather stripping to eliminate drafts, or air drying dishes and laundry.
Avoid paying costly automatic teller machine (ATM) fees by using only your own bank’s ATMs, and make sure you’re not paying your bank for any fees for services you don’t want or need.