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10 Steps to Cut Expenses

hb-2You may think that cutting  your budget for take out food all together is not for you, but simply cooking double the regular amount of food will ensure that you’re covered for the following day. It’s also the first action of 10 steps to cut expenses. Americans spend $110-billion on fast food every year. That exceeds the amount spent on books, movies, music, newspapers and magazines combined.

Go through your fridge

On top of the $110 billion spent on fast food every year in the U. S. an additional $480 billion is spent on groceries annually. How often do you buy something from the supermarket and then completely forget about it, only to find it spoiled later? Easily avoid this and minimize the amount of wasted grocery money by going through your fridge regularly to be aware of what you have and don’t have is another easy way to cut household expenses.

Let your green fingers run

Whether you choose to grow seasonal vegetables in your backyard, plant herbs in kitchen pots or care for flowers to decorate the house, you will be saving money while putting your stress levels under control. If you plant vegetables, it is recommended that you focus on produce that is easy to grow and consume.

Fight the electricity bill

You don’t have to choose between acting like a scrooge going from room to room to make sure the lights are off, or being totally oblivious to your energy consumption levels. Simple actions like setting your house thermostat to ‘away’ before leaving the house, and setting your fridge to ‘travel’ when you go away for the weekend go a long way. During the winter time it is always a good idea to get an electric blanket and mattress pad.

Wise Up about phone bills

With business relations, family members and efforts to keep a social life alive a midst your hectic schedule, it’s easy to lose track of phone bills. Nobody is saying you should put a price on relationships, but with modern technology there are many ways to get connected without breaking the bank. Using applications like Skype, GTalk, Viber or Snap Chat whenever possible can make a difference with the phone bill without affecting your social life.

Pick club subscriptions

Cancel all unnecessary subscriptions and club memberships. A good way to do this is monitor the frequency of usage. If you are using memberships less than a few times a week, it’s easy to add this to your 10 steps to cut expenses list.

Make up your mind about the health club

Do you pay a regular fee for a gym membership that you never use? If so, then it’s time for you to make a choice. hb-3Either commit to the gym and reap the benefits or cancel the membership to save the money.

Book vacations early

Plan vacations in advance. Put some time into research to take advantage of offers and packages online. Keep your purchases on sentimental but unnecessary items at a minimum. Always try to haggle if possible, since most prices are inflated during holiday periods.

Slash Debt

Enroll in automatic debt repayment management plans. Take advantage of any opportunity to reduce debt. Refrain from buying things on credit until you feel you are in a comfortable financial position. Consolidation loans also go a long way to reduce debt on student loans.

Cut Insurance Costs

Keep an open mind when it comes to insurance. Look at different companies and their coverage rates. Downgrade insurance coverage as much as possible and shop for lower premiums online to reduce costs and cut household expenses.