10 Places to Look When Cutting Expenses

It’s hip to be cheap these days.  With the downturn in the economy, the old fashioned virtue of frugality is making a roaring comeback.  While most people are penny pinching, no one wants to live a completely spartan lifestyle.  There are ways to cut back on expenses without eliminating the joy of living. 

1. Save on groceries.  Most of us spend too much on groceries that end up spoiling. Eat what you buy and buy what you eat.  No matter how much you spend on food you can cut back and not starve.  Plan meals for the week, eat at home the majority of the time, and make a grocery list that you stick to.  Use coupon sites like thegrocerygame.com to save up to 60% on each shopping trip.

2. Save on clothes.  Consignment and thrift shops have come a long way.  You can find deals on brand new designer labels at a fraction of the cost of retail. These shops are popping up all over. Check to see if you have one in your area.

3. Save on entertainment.  We can’t just work, eat and sleep.  Entertainment is an important part of life.  Save money by checking out movies from the library.  When you do go out to eat, use coupons like The Entertainment Book, or register with restaurant.com that dining out won’t eat up your savings.

4. Use what you have.  Instead of buying the latest trends, use what you already have.  While you might not be popular with the Joneses, you’ll have extra money in your wallet which is more important anyway.

5. Save on energy.  Use compact florescent bulbs.  They lower bills and last longer than traditional lighting.  Talk to your power company about average billing.  It will keep you from having surprises during the high cost summer and winter months.

6. Save on exercise.  Drop your costly gym membership.  Lace up your tennis shoes and run or walk outside.  Purchase an inexpensive set of weights.  Check out garage sales, freecycle.org or craigslist.org where you can find deals on slightly used tred mills or stair climbers.

7. Save on credit card interest.  Contact your bank and re-negotiate your interest rates.  You never know what they will do for you until you try.

8. Save on books.  Libraries often have the latest bestsellers and also have frequent community used book sales. 

9. Save on gas.  Plan a day to run your errands. Gasbuddy.com can show you the lowest gas prices in your area.

10. Save on all new expenses.  Before you buy a non-essential item, wait 24 hours to think about it.

Cutting expenses does not have to be painful.  Practicing the art of frugal living brings freedom and peace of mind; not to mention more money in your wallet.
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