Today, I have a post from another blogger. Lately, we have been talking about cutting expenses almost as much as increasing income lately. Which side are you on? Increasing income or cutting expenses?
Do you suffer from what most Americans suffer from? Is it difficult for you to get ahead financially? Feeling overwhelmed by your constantly depleted piggy bank? My husband and I had the same conundrum!
I have some tips that have helped out our wallet immensely. We decided to utilize these seven tips to help cut back on expenses so we wouldn’t continue breaking the bank.
Get a budget and stick to it!
My husband was never a hard copy budget kind of guy. However, I am that kind of girl. I need to see tangibly where the money is going and what our goals are. I feel like many people need to see that….or else it doesn’t hit home.
You can constantly swipe, swipe, swipe and never feel the impact of those purchases. SO! What was our compromise? We found a website called Mint.com and it has totally changed the way we look at budgeting. Plus, it has an app so we can access it while we’re out. I always open it to double-check in case I have to put something back while shopping. It’ll keep you accountable—not only to yourself, but to one another!
Gas Buddy
This is a great website to check out and ta-da! It also comes in a handy-dandy app…because I ALWAYS check my gas level when I’m out and about, and lo and behold I will have no idea where the cheapest gas is. This little gem helps me to locate the best gas in my area. Go ahead, install it, use it, and you’ll thank me. You may not think those few cents add up, but think again.
Drink coffee at home.
This is hard for me to stick to. I LOVE getting coffee/tea out. It is my happy. However, if you love to pop over to Starbucks once in a while, make a budget and stick to it! And don’t forget to make your own at home! Get a reusable glass and make your own iced coffee, lattes, or tea at your house and bring it with you. You will have a “happy” in your hand when you go out and you won’t have to bust that piggy bank wide open for a $4 drink.
Shop sales and used
My husband and I rarely ever buy retail. I would rather have 3-4 items than 1 overpriced item. Wouldn’t you agree? We always look on Amazon before we go to Target and pick up what we want. (Oh, and P.S. Target now price matches Amazon!
So, if you pull that phone out while shopping and show them the lower price—they’ll match it!) We also have no NEW vehicles….why buy a new one when you can buy used? The car depreciates right when you leave the dealership. Thanks, but no thanks. When you can, buy used and look for sales!
Leave your card at home
If you’re easily tempted then avoid temptation altogether: leave your cash/card at home or in your car. Window shopping can be just as fun and if you really want something you can think about it instead of impulsively buying! You can also mull over how it will affect your budget and your goals. When you get back into your car and back home you will be happy you didn’t succumb to temptation.
If you do need to go shopping but cannot control your credit card usage, stick to cash or checks.
Join Costco
For the longest time my hubby thought that joining Costco would be a waste of money. He changed his tune. We have already saved hundreds by going to Costco. I love that they are getting more organic and gluten-free foods!
With extra food I can pre-portion it (the stuff that isn’t pre-portioned already like salmon) and freeze it for future meals. If you have kiddos then Costco is a must so you won’t go into debt trying to feed your family quality food!
Monitor Utilities
Are you turning your lights off? How about your AC? Be sure that when you’re leaving each room you make it a rule to turn off any lights. Also, on cooler days try opening your windows and letting the breeze cool your house. In the winter, invest in heating blankets to keep the cost down!
If you simply implement a few of these tips you will start seeing a decrease in expenditures and an increase in your piggy bank. As Benjamin Franklin said, “If you take care of your pennies your dollars will take care of themselves.” Believe it or not, the pennies DO add up! So, start keeping track and start saving.
Hannah lives in San Diego, CA with her hubby, but was born and raised Southern. She has a degree in English, and utilizes it as a writer at her own lifestyle blog called Preciously Preserved. She can’t wait to have babies of her own in the future, but until then she is the mommy to one little 7 pound fur-baby, Bella Dolce.
Do you do any of the above? How do you lower your expenses?
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The College Investor says
Good tips on how to save money. Leaving my card home sometimes work for me, but not as often as I like since I still have to use it for some necessary purchases.
Hannah @ Preciously Preserved says
It doesn’t always work for me either! Sometimes I just have to “gird my loins” and say “no” to those pretty shiny things….;)
Grayson @ Debt Roundup says
Good tips. My wife and I decided against the Costco membership because we compared the sizes, prices, and selection of Costco compared to Target. In our area, there were no real savings because we wouldn’t be able to buy everything that we normally would at Costco. I probably did a too much in depth analysis, but that is just what I do. I certainly agree that it works for many, just not for us.
Hannah @ Preciously Preserved says
I totally understand. It is all a matter of where you guys are in your food consumption and what you frequently purchase. 🙂 You have to find what works for you!
DC @ Young Adult Money says
I think increasing income and saving money are both very important things to pursue. I coupon, brew coffee at home, etc. to save money, but I also spend significant time and energy focusing on increasing my income. I would say when push comes to shove, increasing income will always win out. You can cut expenses (and should!) but ultimately if you can make more money it makes life a lot easier both in the short- and long-term.
Hannah @ Preciously Preserved says
Great point! Totally agree. You can afford to splurge here and there when you have a steady stream of income. But you always want to have the mindset of frugality…after all, you never know when the hard times may come! 🙂
jackie says
great tips! the coffee thing is huge. i sometimes splurge and go to starbucks but it really does add up! and no idea that target did price matching – love that!
Hannah @ Preciously Preserved says
I love coffee too….my weakness… 😉
Hannah @ Preciously Preserved says
I know, I am a coffee/tea phene myself. But if you take it out of your daily routine it really makes it more special! 🙂 Thanks for reading!
Kristin says
I agree with buying things used and on sale can help cut costs but I think consumers would also benefit from doing more research into the “true” cost of items. I think doing research is a great idea especially, like you mentioned, with price matching (great tip on Target/Amazon!), and I think that research should extend into more important products. I bought my car used, and that was a great choice for me, but people also need to consider the cost of maintenance with older cars – costs that are usually up front and can be quite expensive. My boyfriend bought his car new and I can see the value in paying the monthly payments (he got 0% financing) and not having to worry about replacing parts and things. He made sure that it was something he could afford and it’ll be a vehicle he’ll have for a long time.
Also, I know overpriced is a term used to describe clothing a lot of time. Sometimes it’s tricky though. I used to buy clothing that was inexpensive but I’d buy a LOT and buy trendy. Sales are notorious for fooling consumers (me included!) into buying more than they need. It’s cheap so why not? These days I might go shopping once or twice a year. I pick up more expensive items but I am more aware of quality and look for pieces I can wear for a long time and for many occasions. Since it is more expensive, I buy less and take better care of my clothing.
(huge tangent alert:)
I learned in a German class I took one time that traditionally they have a very different way of shopping than North Americans- when they need to buy something, they go out and look for it specifically. Whereas here in North America, shopping can become almost a leisure activity! I thought that was an interesting point and so since then I’ve tried to adopt that mentality and only go shopping if I truly need something and try to fight those impulse buys!
Hannah @ Preciously Preserved says
I love that concept! I grew up with it. Self-control makes you want something more and makes you appreciative when you get it! And I agree with you, sales can fool you….you have to smart and wait for what you want. It’ll eventually appear, but patience is a virtue! (One that I am working on)
krantcents says
I do all of these and more! I review my expenses every month to see if I can reduce them further.
Hannah @ Preciously Preserved says
Then it sounds like you’re on the right track! Keep up the good work.
Daisy @ Prairie Eco Thrifter says
My favorite method of controlling myself when I go out is to leave my card and cash at home. I always ensure I have a fully charged cellphone battery when I do this, for fear of getting in a situation that would require money, and it works great.
Hannah @ Preciously Preserved says
Smart! I need to be better at implementing that. Since going on the GAPS I have been shopping less and it has definitely helped subdue my cravings.
charles@gettingarichlife.com says
The budgeting part is the most important. We didn’t realize how much leaks we had until we wrote everything out.
Mark Ross says
It really is good for you and your piggy bank if you have a budget that you follow. Great tips Michelle! 🙂
Hannah @ Preciously Preserved says
Yes, sir it is! Sticking with the budget is the always the hardest though! Thanks for the comment.
Lance @ Money Life and More says
As far as gas buddy goes, just make sure you aren’t driving out of your way to get gas that is a couple cents cheaper. If you think about it, going out of your way costs gas and time. If gas is 10 cents cheaper but it is 5 miles away, you’re driving 10 miles to save $2.00 on a 20 gallon tank, plus your time. Food for thought 🙂
Hannah @ Preciously Preserved says
Of course! Common sense definitely should be utilized when using it….and if you don’t eat much food and there’s only one of you, a Costco card probably isn’t the best bet either. 🙂
Kevin Watts says
I am a big fan of ‘leave the card at home’. I find myself overspending since it is just so easy to swipe that card. I purposely withdraw cash and use that if I am out and about. At least that way I know that I am sticking to my budget when I see how much cash I have left in my wallet.
Hannah @ Preciously Preserved says
I am always more leery about spending cash then I am swiping….definitely psychological, but it works! Great tip!
C. the Romanian says
Budgeting is extremely important and I would add to the list “eat at home”. I strongly believe that we should all eat at home more often not only for the lower price, but for the added benefit of eating healthier (of course, we’re assuming here that eating at home doesn’t mean putting a ready to eat meal in the microwave oven).
Hannah @ Preciously Preserved says
My husband and I have been doing that more frequently and seen a drastic decline in our spending. It may not be AS fun, but it is more practical….plus, it makes eating out (when you do) special! 🙂
moneystepper says
Gas buddy is a great idea. I used to sign up to a website in the UK that did the same thing, but having an app makes it so much more useful. Thanks for the tip!
Hannah @ Preciously Preserved says
Gas buddy is ingenious, for sure! Thanks for the comment! 🙂
Hannah @ Preciously Preserved says
I know, right?! Plus, you can get your gas FROM Costco and save tons….so there’s another win-win! 🙂
Chad | The Stock Market and I says
Budgeting has always been a problem for me until I accidentally stumbled into one when I began to look at the expense/spending reporting from my bank. Now I have a good guideline and monitor myself to keep myself in check. Also, I love Costco. I usually have one big bill, but all of the items last me for months.
Hannah @ Preciously Preserved says
Many people say Costco isn’t worth the expense….but when you think of not having to frequent the store as many times in a week, and saving money by not making those unnecessary stops, then it IS worth it! Plus, if I go to a small chain grocery store I end up buying stuff that isn’t even on my list anyway….so Costco keeps me out of trouble in the long run! And good for you on budgeting…it doesn’t have to be hard! Glad you found a remedy. 🙂
Erica says
Gas Buddy is awesome when it’s updated. The stations in my area are always way off. I think people have fun posting the wrong amounts
Hannah @ Preciously Preserved says
Haha, people are ornery like that. Thanks for the read! 😉
Rachel says
I’m pretty lucky that my work provides coffee for the office, since I like it a little fancy, I bring my own flavored creamer and only let myself stop at Starbucks once a week at most.
My husband and I also joined Costco and the gas savings we get there more than pay for the membership, everything else is straight savings!
One tip I’d add is to use rewards. For example, when we know we’ll be making a big purchase somewhere, we’ll get a giftc ard for that amount at Giant Eagle and get not only the cashback on the credit card, but also get the fuel perks. We reload the Starbucks giftcard that way too and get triple rewards since our giftcard is registered.
Hannah @ Preciously Preserved says
Great add on about the rewards! My husband I use rewards with everything. We use credit card rewards to help us buy clothes, flights, and other fun things. You just have to be smart about it! GREAT points! Thanks for the read. 🙂