Friday, November 14, 2014

Frugal Lifestyle: What Are The Ways To Cut Down Your Weekly Costs?

The process of cost-reduction shan’t be grueling but a manageable and positive one. If you are wise with your savings, then you will be able to spend your money happily.

Ways to cut down your daily household costs

Here are some of the frugal ways to make your ends meet in a week, while you stick to your budget, save money and if required, then ward off your debt problems:
  • Create a budget - Prior to taking any action, sit down and evaluate what expenditures top your priority list. A budget is the single most important part of all your frugal living habits. This is because it is the budget that would help you to identify as to where your money is going and what all you can do to reduce that.
Cut Down Your Weekly Costs
  • Unsubscribe to deal emails - Don’t give into the temptation of unnecessary shopping by unsubscribing to all those daily deal emails as well as other sale offers. Shopping when stores put up their merchandise for sale or on discounts wouldn’t be a wise thing, if you buy something that you don’t need at the moment. It is true that you’d spend less money than you would have done otherwise. Still, you could’ve spent that same amount on something more important that is higher on your priority list.
  • Purchase used goods - Buying used things would save you a lot of money and thrift stores are one of the best places to find them. However, you may get such items even at yard sales or from online shopping carts like eBay, Craiglist, etc. Buying used things doesn’t necessarily imply that you’re getting shabby items.
  • Make use of bike - The idea here is to bike more and drive less. In reality, it is next to impossible to cut out driving completely. Still, there is ample room for you to focus on making reasonable adjustments. Most of the daily commuters like you cannot use bikes due to long-commutes. However, it doesn’t mean that you can’t bike around in your own locality. This will not only reduce your monthly gas charges, but biking every now and then would provide you with more exercises as well.
  • Analyze your utility services - Get in touch with your cable and Internet providers to find out, if you could bargain for an affordable bill. If something constructive doesn’t happen, then you may mull opting out of those services altogether. The fact is that you have a lot of alternatives to choose from and that too for less that what you may be paying now. More, you may consider reducing fans, instead of air-conditioning and switch off lights/appliances when they’re not in use, in order to keep your utility bills down.
  • Earn before you spend - Always make it a point to save before you buy. In other words, never rush into a store on payday, rather it is best to consider the long-term benefits of reduced spending today. So, one of the effective ways to lead a frugal life that is devoid of any sort of debt problems is to adopt a ‘save first’ approach while shopping. You may be having an emergency fund, a separate savings account and retirement savings. However, just make sure that you’re making proper contributions towards those accounts before you spend a dime on anything that isn’t important.
Finally, you’ll have to establish good financial habits to see yours savings grow and debt wither in the future. Try to turn all the above money saving moves into long-term habits that would help into keep your overall weekly expenditures under check and debt problems at bay.

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