Real Estate Innovation

30 Practical Ways to Cut Expenses

The times are oh-so-bad and recession or depression or a slowdown (whatever you may call it) is upon us. Well, this world is all about survival of the money savers and so, save we must - here are 30 practical ways of cutting expenses and saving big:

1. Save on energy costs. Use power saving CFL lights. Hang your clothes instead of using the dryer, Only run things your dishwasher when full. And don’t leave lights or appliances on unless you are using them.

2. Skip the movies and rent or borrow dvds. You will also save money by making your own popcorn.

3. Want to spend some time with friends? Instead of going out have a fun night of coffee, cards and good conversation.

4. Do you eat out at work? Plan ahead and pack your lunch.

5. Share rides to work with co-workers or use public transportation.

6. Save money on drugs with generics whenever possible.

7. Do you see a good sale for a product you use anyway? Stock up whenever possible! If you have coupons for the sale item you can save even more.

8. If you make a lot of long distance calls then it may pay to go with a plan that offers free long distance. Otherwise, limit calls to nights and weekends when rates are normally cheaper.

9. Start saving your spare change. You will be surprised at how fast it adds up.

10. Buy clothing off season and never pay full price. Often what you find at one store full price will offer something similar on sale.

11. Stop smoking. Easier said than done but can you really afford not to?

12. Doing little things like not running the water while brushing your teeth will save a lot of water.

13. Save the cost of a gym membership and work out at home.

14. Maintain your car yourself - i.e., do basic stuff like changing the oil, washing it, etc.

15. Dollar stores are a great place to stock up on items such as wrapping paper, gift cards, gift bags, etc.

16. Do you have high interest credit cards? Consider refinancing or making power payments each month (making more than the minimum payments).

17. Eat out less. Try to keep stocked up on the ingredients for quick meals to keep from going through the drive-thru on days you are just too tired to cook.

18. When shopping for large ticket items it pays to shop around. Some stores will even match competitor prices.

19. In the market for a new home? Find a home under the price the your bank has pre-approved you for. With more affordable payments you may even be able to pay a little extra on your mortgage each month.

20. Try Freecycle.org for getting and receiving unwanted items for free. One man’s trash is another man’s treasure!

21. Stick with the cheapest cable plan you can get. Check your local library to borrow video tapes and dvds for free.

22. We all like to splurge once in a while on things like manicures but if are trying to save money consider doing this yourself.

23. Having a savings account just for emergencies is a must! Otherwise you’ll end up resorting to credit cards. Try to put away just $5.00-$10.00 per week away and watch it add up. As you pay off debt increase your savings.

24. When shopping for your work wardrobe try to avoid anything that is “dry clean only”.

25. See if you can get a better price on insurance. Some companies will give you a deal if you carry all your policies (car, homeowners, etc) through them.

26. Drink less soft drinks and more water. Not only will it save on your grocery bill but it is also better for your health.

27. Reduce clutter and earn some extra money with a garage sale.

28. Don’t be late in paying your bills - the interest can be killing.

29. Consider planting a garden. Produce such as zucchini can be shredded and frozen for future recipes. Find information at your local library online on how to get started.

30. Know when to splurge. Cut back on the trivial things that eat up your paycheck and you can splurge occasionally on something fun.

These are just a few tips to help you stretch your budget. You might even come up with a few of your own!