Here Are 7 Quick Ways to Cut Spending

Here Are 7 Quick Ways to Cut Spending – Today’s difficult economic times have many questioning their lifestyle and spending habits. High unemployment, record number of home foreclosures, personal and business bankruptcy continue to put pressure on household incomes.

Here are 7 easy ways to cut your spending:

1.) Bag your lunch.
The average workday lunch costs $9.00. So you are spending $45/week and $180/month on lunch alone! Stop eating out and pack your lunch. Not only do you save money, but you eat better which can save you big bucks in health care bills.

2.) Replace your home phone with free phone service.
Ditch the home phone if you have a cell phone. Otherwise consider Magicjack or Skype as an alternative.

3.) Downgrade your Cable TV package.
The typical household pays on average 109.95/mth for a premium cable package. Downgrade to a basic package and get rid of the premium channels. If you want to watch movies, consider renting them from Redbox for $1.00. Or get the basic Netflix package, unlimited video on demand for $8.99/mth

4.) Make a grocery list and stick to it.
Create a menu of meals for a month. Make a grocery list that corresponds to that menu and follow it faithfully. No extras, you would be surprised how the little things add up. Also try buying bulk items at Costco or Sam’s.

5.) Sell the second car.
Cars are expensive to keep, what with insurance, loan payments, gas, and service. Do you really need that second car? Here is an easy way to find out. Park your second car in the garage for 3 months. If you have a few errands to run, do them all the same day and plan your route so you don’t make a lot of repeat trips. If after 3 months, you haven’t driven the 2nd car you might consider selling it. Take the savings from the car payment, gas, and insurance and either pay down your debt or put it in a savings account.

6.) Price car and homeowner insurance every 6 months.
When you’ve been with a company for a while, the bill inevitably creeps up a few bucks. With so much competition, you may find a lower rate when shopping every 6 months. Save even more by purchasing car and home insurance from the same company to take advantage of the lower prices they offer for getting all your business.

7.) Use a programmable thermostat.
Since most of us spend so many hours away from home, why cool an empty house? Invest in a programmable thermostat that can be found for as low as $19.00 at Home Depot or Lowes. Set the temperature around 80 degrees during the day, and 78 degrees when you are home.