5 Simple ways to cut down expenses

[Augusta]

When it comes to personal finance one practical ways to build it up is through cutting out expenses. But the truth is that it isn't easy as we are confronted with daily needs. At this point you would need to adopt a strategy or strategies that would work for you.

Are you ready to cut down your expenses to boost your personal finances then do the below easy things.

Reduce your phone call bills: If you keep account of the airtime you use per month, you would know that you are killing self with high expenses So cut this off

Cut eating out: I can personally attest to this, eating out is very expensive compared to eating at home.You spend a lot more eating out. you need to reduce this

Cut out cable: If you can you should do away with expensive cable subscription. you wouldn't believe the chunk of money you are throwing around for this paid stations. Why don't you just get an antenna and watch free and local stations that are subscription Free.

indulge in used things
You can save yourself a whole lot of stress if you indulge more in used things since you would be paying less. Avoid trying to get only new things always.

Have free fun: Why don't you have fun for free that going to where you would need to make payments. You can have fun for free.
What's your thoughts?

 

[blessingc]

It's easy to cut down expenses if you are willing to save and you know your goal of saving, that is you know why you are saving and what you want to achieve from it.
Saving can be difficult at times, most especially, when you aren't having enough and you have alot of basic needs and alot of problems to solve, but if you have a good reason to save, you have to for your own good.

Saving has never been a practice for the present, it is for the future. You can cut down your expenses by going for your needs and not your want. Luxury is never and option for a person who is interested and is practicing saving. If you are a luxurous person you have to cut it down and go for what your money can afford and it should be your need (basic needs) to what you just feel you need. A car can never be your need if you don't have the resource for maitenance.


Another thing you need to know is to get a plan, a budget of what comes in and what you spend, so you don't spend beyond what you ought to, and keep the part you need to save.

 

[Augusta]

Definitely, I don't think anyone has ever failed at having a budget and sticking to it, this is why it is good to study somethings before trying to indulge Having a plan is one way of cutting out your expenses. Nothing sink the pocket like minor expenses that we cut as nothing that starts from phone bills to even the cable cost we incurred You might think it is nothing but you need to know that a little water getting a boat can sink it.

You need to draw a table of reference and list your wants / needs in the order of importance, then list your needs in the order of importance. you need begin to write the most important things as the top priority for you and if money will not get all of that. at the same time then go for them in such order still you get the last one. Better still you just cut out like 4 down items because they are things that you might not really need at that point and buy the top 3 items

All of these will be to help you save for the future, so you wouldn't be frustrated with life.

 

[Abigael]

These are all very good ways to cut down expenses that you have mentioned. It is very true that some expenses are just there as a liability. You would save so much more by identifying them and cutting them down. In this hard economic times, you need to be really careful on what you spend your money on.

Avoiding eating out and just making my own food has been so practical for me too. Eating out or going for takeaways is very expensive. But when you buy raw food and cook, you save a lot. Moreover, your own cook is much more hygienic and healthy.

Another area that I have had to cut out is my data bundles usage. I used to spend so much money buying data bundles to download movies and even watch online. But I learnt how to control by data usage and buy movies rather than downloading or watching online.

I don't pay for cable to get so many stations that are not really important anymore. I just watch the local stations then buy movies that I could have watched in those stations. Now I don't have monthly bill for cable, that is additional money to save.

 

[TOZZIBLINKZ]

Not everyone is blessed with huge amount of income as a result of the prestigious and highly rewarding jobs that we have or well profitable and lucrative businesses that we own and control . Majority of people are more likely to spend money because they have the money to spend but it is actually not wise to spend money lavishly and uncontrollably this is because money is a valuable and important to that should be used wisely and sensibly and ravishing and over spending money is not a wise and sensible way of using money . We have always been taught by our parents or by our teachers in schools to save more money more than we spend this is because crucial times are more likely to happen in the future and to be able to meet up to future on called and unexpected expectations it is advised to save money .

Saving money help us to invest in a future investment that is more likely to show up in the future . To cut down the habit of spending it is advice to use a debit card rather than using physical money . This may sound cliche but it is absolutely the truth because our subconscious mind has the ability to spend more money when we have a bundle of physical cash in our position but we are less likely to spend more when we use a credit card this is because we did not have a close contact with the money but rather only feel and see it invisibleness .

 

[Augusta]

Your submission is apt, we all know life is for the living but there is more to life than just spending it accumulating avoidable expenses that if not careful with it might lands one in debt. This is why one nedds to study their expenses and see the ones to cut off to avoid finishing the future money with present wants or needs

I think the most expense of the home that people indulge at all cost are those that I have listed and the earlier they are reduced to the barest minimum the better for people. I know how much I spend on cable network monthly especially if I try to get the full bouquet then multiple that by 12 months then will be a fat sum of money.Theree an alternative which is the local station if we can get attracted to this alternative then we would have save for ourselves a whole of money.

Savings is another good way of storing money. it is always easyto save when you have immediate needs but if the need can be avoided then do it and forget about indulging it because it will still be about you spending money. So saving is a wise decision at all times

 

[Ithedicious]

For me I don't really spend so much money on calls with anyone , I don't really have anyone to call and this is just the best way for me to be because if I am interested to call people I will only be the one that will be spending money on airtime which is not the best just like you said because it will definitely affect your earning.

For internet connection there is no how I will limit my internet connection because I don't even use it to watch video or engage in any other thing that is not profitable , I only use it to make some money online and that's all.

One of the things that is really consuming my money is just some school activities and for this there is no how I can be able to control it because there is no how I won't stop spending on school stuff like doing of assignment and so many other thing.

When I'm done with school probably I will be able to save some money but for now there are a lot of responsibilities I have to take care of and this are not something I can control for now .

 

[eldavis]

Another way to save more besides having self discipline is working with a budget. Many people today do not know their needs from their wants, hence they end up spending on things they do not have a need for, forgetting the important things they actually need. Working with a budget helps you sort it all out.

 

[Sotherefore]

Thank you for sharing , these are the things I always try to do . If I am just interested to enjoy life as a lot of people are doing , I will definitely spend all my money on things that won't make sense and at the end of the day I will just be like I haven't made any money .

Now I have been able to reschedule my life and I don't spend my money unnecessary on things that does not make sense . I can only be able to spend my money when I see the future potential in what I am doing and apart from that I will likely save my money .

I always try to have some airtime on my phone but not really that I use it to make a long call , but I just have it there in case there is need . I do call people but I don't really talk much except it involves business that will likely generate money .

If we can reschedule our life it will be quite possible for us to arrange things and make our life work smoothly without having to struggle to self Money .

 

[Kennysplash]

The best way to reduce you spending is by developing self discipline. There are many times we have no intention of buy anything, but when we go out and see them we are tempted to buy. And they are things we don't necessarily need, but maybe because it's what is trending or we see how it is packaged we want to buy. If you have self discipline you will not engage in impulsive buying. Whatever you don't need you won't even look at it twice. This quality is not easy to develop, not one you can develop overnight. But once you have mastered the art of not being tempted to buy you anything that enters your eyes, you have indeed mastered the art of saving money. Try it out in small things first, deprive yourself of some things you don't really need buy you still buy them. That way you can build consistency and master self-discipline.

 

[btaliat]

There are different ways of cutting extra expenses. Each person has ways of cutting their expenses. The msot important thing to know is that we can't have much saving if we decide not to cut the ways we do spend. Personally, I will only talk about how I do cut my expenses.


Having discovered that I spend most money on transport. I decided not to be taking public transport, instead I started boarding online transport. This one has a flexible pride and not fixed price as the public transport do have. With this method I do save more money

I do have a list of what I want to do in a month. If I don't have budget for something and the thing is of necessity, I need to add it to the following months except it is compulsory. For instance, if I exhaust my beverages and my drinks before the due date, I will need to wait till the following month.

I so save first before I spend. When I save first, it allows me to only spend on the things that of necessities. Instead of buying call card, I have website I work with that do reward me with call card it most time, I do use WhatsApp calls.

 

[Finger Geek]

indulge in used things
You can save yourself a whole lot of stress if you indulge more in used things since you would be paying less. Avoid trying to get only new things always.

But sometimes when we buy used products. We don't usually enjoy the products. I would advise to buy new products, but we should make sure that the product is original and the one that can last long. Because if we decided to buy a used product and we are able to use it for a short time. Then it means that we will have to buy another one. I'm the course of this, we will later realise that we will be spent on the used ones will be more than what will be spent on new and original one.

It is always good to take note of how we spend our money. There are time that what we spend our money on are not really what we need but what we want. If we keep on paying for what we want, then we will never grow in whatever business we are into or we never have a stable business.

We must first differentiate our needs from wants. And we also need to make sure that we don't spend more than our income. Because doing so means that our business capital we be reducing and this will result in the business to crash. From our income, we should first satisfied our needs first and if we still have left from our income then we can move to wants.

 

[Augusta]

Your last paragraph is apt to cut down expenses as quickly as possible you need to start by knowing your needs and your wants. You can achieve this by first drawing a scale of preference for your all you would needing for a period of time. list them and you need to keep them in a scale of importance. then select the ones you can't do without at that time and see if you can discard them then trying to indulge them with the little money at your disposal

For the second hand stuff, it isn't everything that are bad, there are people that just love to discard their old things that are still in good condition to buy new ones. You just have to seek them out and buy these ones there will be cheaper than going for new ones

The truth is that cutting your expenses to size is doable and achievable but you would need to practice this to attain success. When you know that you still have future expenses to tackle then you would live by cutting out expenses to a minimum size.

The fastest way of cutting expenses is going only for things that you can't just avoid only

 

[Lens1000]

There are obviously various ways that one could use to reduce expenses. It should be in very important habit that we must inculcate because savings is a very important thing that must be considered in our life.. I have seen so many people that spend lavishly and their style of life is not encouraging. It is however very important to always cut down our expenses in different ways. The point that you raised a very necessary and very very important but we still need to follow some preset rules in our daily spending. It will be very encouraging you to try out the ways that the trade starter as pointed out. When you eat too much you are not doing yourself a favour because you cannot cut down your expenses. For a person who needs to cut down his expenses must eat moderately. In this regard ,we are not talking about starving yourself but eating moderately. If you are also looking out to cutting down your expenses you should also try to dress moderately. You should try as much as possible to avoid expensive dresses. This could be regarded as gold plating because it is actually not necessary. The punch raised once again are very good point to the Note.

 

[Augusta]

Yeah a lot of persons seem to want to live life lavishly whether its worth their financial status or not but they forget that money as we all know is just visitor and can be gone just because of our lifestyle. You don't earn little and want to spend above it and expect to live a financially independent life. You would never attain success with such life
The most reason why people live in penury or can't be financially free hinge on expensee. Expenses means ones spendings when once you remove money to buy you are already depleting your funds. Spending is the direct opposite of saving. You save you get more while you spend reduces ones funds this is just like the logic behind it.

When once everyone that wants to have financial freedom understand this then a lot of brokeness will reduce. I know sometimes our income might just be small then going for what we can afford without going broke should be the best bet. Like earlier stated if we can afford old clean things then it wouldn't be much of a problem, just buy the ones in good condition and use them still you can conveniently afford the new ones.