Save a Little More. Spend a Little Less.

If you are currently accumulating debt, or if you feel that your monthly spending is getting out of control, there are several things that we can do to manage our money.  If you need to start living on less due to a change in your financial situation, keep in mind that it is a temporary situation that needs minor temporary adjustments.

If you want to save more, you need to spend less. It’s not always our income that needs to increase when we want to build up our savings account. We can cut some of our current expenses to help increase our monthly savings.

Here are three easy things to cut out of your monthly budget:

1. Cut the Cable Bill. I cannot repeat this enough. Nick and I have an extensive television channel selection, which brings an overly expensive monthly satellite bill. (In my opinion) We don’t need 650 television channels and 200 satellite radio stations.  Basic cable is acceptable. Most television shows and sporting events are available online; we can watch our favourite shows commercial free via the internet.
2. Save at the Supermarket.  Make a list and check it twice. Stick to your grocery list and never go to the grocery store hungry. Everything looks good and tasty when we are hungry. Impulse shopping can really break a budget.
3. Excessive Entertainment Expenses. Movies, Restaurants, and life’s other finer things, such as vacations and shopping, can be cut down or totally eliminated.  If you are like me you eat out 2-3 times a week.  There are just some days when I get home too late, and I am too tired to cook and clean up after myself.  Some days, it is just easier to eat out.

There are a lot of places that we can get a great meal for under $10.  Subs and sandwiches are a quick and cheap take out option. I love Quiznos , even a combo can be less than $10; please remember that I am a vegetarian and generally meatless meals cost less. Chinese food restaurants generally give massive portions with minor costs. I know it is easy to see a Chinese food menu and get the sudden urge to order one of everything.  However, if you stick with two major plates such as Chicken Fried Rice with General Tao Chicken, you and your spouse can eat for $10 each.

Forget the extras and add-ons. When you are waiting in line at the grocery store remember that you don’t need a chocolate bar, a razor, or batteries. Whatever it is that they are selling at the cashier checkout line…You don’t need it. Those grab and go items are strategically placed for impulse buyers. Please keep in mind that $5 is still $5 more. $5 every day is $35 a week, and $1820 a year.

We don’t need that extra dumpling or spring roll with our delivery order. While we are on the subject, we should go out and pick up our food.  Or, we can pick it up on the way home. Many restaurants charge a delivery fee along with a tip for the driver. That can be another $4-$8 extra dollars added onto your dinner bill.  How do you cut down your expenses so that you can increase your savings?

(Photo By Prince Roy)