Cut Expenses and Save Money

At first it might seem difficult to cut expenses but it’s easier than you think. It just takes some time and work. Find ways to reduce expenses and save money.

Cutting Expenses to Save Money

You don’t need to make more money in order to have more money. By cutting expenses, you’re freeing up available cash that can be used to pay off debt and to put into a savings account. Cutting expenses also decreases the cost of your lifestyle long term.

Spending Habits

Our habits are based on our lifestyle choices. Lifestyle choices are sticky and comes with a price tag. In order to keep up with a specific lifestyle we may forgo saving and use credit for cash flow difference.

Needs Versus Wants

Needs Versus Wants

• What we need is actually much less than what we think we want.

• We make purchases based on brand loyalty, impulse buys and retail therapy.

• We spend for immediate gratification putting present wants over future needs.

Questions to Ask When Making a Purchase

Spending derails us from our savings goals. When figuring out what expenses to cut (you can use this

1. Do I need it?

2. Do I need it now?

3. What will happen if I don’t have it?

Although these questions are used to curb purchases and spending urges, the three questions can also help you determine what monthly expenses are simply not needed and can be cut. For instance, does paying for cable television necessary if you only stream movies from Netflix or Amazon Prime.

Mindless Spending

• Purchasing goods that keep us from buying the things we truly want.

• Spend money on expensive dinners and drinks but wondering when you can “afford” a vacation.

• Buy a luxury car and complain about not making enough money.

Spending Rules

1. A bargain isn’t a bargain if you actually don’t need it.

2. Don’t spend more than what you make.

3. Purchase things you love, need, like and want. In that order.

+ Spending Habits: Spend to Live – Part II
+ Why Your Friend is a Millionaire and You’re Not – Part II

Ways to Cut Monthly Expenses

The budgeting process is the first step to identify your monthly expenses. From the list of expenses you can then start reaching out to creditors and providers to reduce cost by negotiating or finding alternative plans.

Entertainment  – Dinners, movies and fun outings tend to be big budget items. By reducing the amount of dinners out and using coupons or deals can help you continue to live while reducing the expense.

+ 8 Ways to Save Money at the Movie Theaters

Household – Limit your food expense by using coupons and store brands. Lower utility expenses by unplugging electrical devices, turning off lights and using energy efficient appliances. Additionally, cutting cable or home telephone service may be an option.

+ How You Can Save Money At Home Doing Simple Things
+ How can I lower my cable, Internet, phone bills?

Transportation – If you work in a city, use public transportation or carpool. Keep your car maintenance in order to ensure better fuel mileage.

+ Drive Your Car While Saving Money on Gas
+ How does airline loyalty help save money?
+ 4 Mobile Apps to Find Cheap Gas

Cell Phone – Call your wireless company and negotiate for a discount. Analyze your cell and data usage. By reducing the amount of data used could lead to big savings. If you work for a large employer you might be eligible for a company discount. These could range from 5% to 19% or more.

How Your Employer Can Lower Your Cell Phone Bill

Banking – If you’re paying fees to have a checking account, debit card or any other types of banking fees consider switching to a bank with lower or no fees. Credit unions can be a better alternative too.  Check your bank statements for fees paid annually, monthly and transactionally. Additionally, cut down on ATM fees by using surcharge-free ATMs.

Credit and Loans – Negotiate with your creditors and financing companies to lower interest rates and remove any late fees.

Discretionary – Are you paying for gym membership or streaming video services? Find alternatives such as cheaper gyms or working out at home or running around the block. Ask family and friends if they’d be willing to share in the expense of Netflix or other streaming video services. Limit the amount of coffees at the local coffee shop and lunches out.

+ Yoga Improved My Life and How It Can For You Too
4 Shopping Apps You Need


+ How the “Little Things” can Control Your Financial Health as a Millennial
+ Cutting the Cord: I Cancelled My Cable Subscription, and You Should Too
+ Does it Pay to Stay?
+ 30 Ways To Cut Your Monthly Expenses. LifeHack
+ 10 Ways to Cut Your Spending This Week. US News
+ 40 Ways to Cut Your Monthly Expenses. The Simple Dollar


BillCutterz – a bill discounting service that lowers the everyday monthly bills of consumers, organizations and businesses across the United States and Canada. We take your monthly bills, such as cell phone, Internet, cable and satellite TV, electricity and gas, and so many more, and get you discounts.