How to Cut Back on Spending
Posted on Wednesday, October 16th, 2013 at 8:00 am
One of the most effective ways to save some extra dough for your holiday shopping is to cut back on the those small pleasures in life. Yes, we know this may be hard to do, but keep in mind it will be better for your budget in the long run! To help out we’ve come up with a few areas where you could probably cut back and actually save some money.
How to Cut Back on Spending
1. Entertainment Services (Netflix, Hulu Plus, Amazon Instant, Spotify, Redbox, etc.)
As much as we enjoy binge watching every episode of How I Met Your Mother or listening to Miley’s new album, entertainment services can really eat up your family’s budget. We realize entertainment services like Netflix or Hulu Plus seem to cost only a small amount monthly, but every penny counts. Also, these costs especially add up when you have multiple memberships. We’re not saying that your home has to be a no-fun or no-entertainment zone, but we are suggesting there are other options. Instead of paying for entertainment services why don’t you check out your local library? Seriously. Libraries these days aren’t just for books (even though books are also a great way to entertain yourself) . In fact, you can rent popular movies, tv series, and cds without paying a penny! And if libraries don’t work for you try arranging a movie and book swap with your closest friends! This way you can experience new-to-you entertainment without a due date!
2. Coffee and Restaurant Expenses
Love getting coffee at your Starbucks or purchasing your lunch from the cafeteria? We’re sorry to say, but coffee purchases and restaurant spending are another big area where you can afford to cut back. Studies have shown that brewing your coffee at home, on average, can save you around $775 per year, so imagine what cutting back can do for you for the next few months. Furthermore, packing your lunch or eating at home can save you a bundle too. If your family really does need a dinner out be sure to find the best possible deal for the meal. Check out our restaurant coupons section to save at your favorite restaurants. Also keep in mind that there are always free coffee and free food offers from popular restaurants and coffeehouses on Freecoupons.com, so keep checking our website to stay informed!
3. Spending Freeze on All Things Retail
Do you “need” that new pair of boots or top from Old Navy? If you’re like us we use the term “need” loosely. It’s time to make do with what you already have. It’s tempting to give in to that great sale at JcPenney or Macy’s, but it’s also nice to have enough to spread the holiday cheer. Instead of purchasing a new top or jeans try repairing the ones you have if there are rips or tears. We realize that not everyone is a sewing extraordinaire so we recommend checking out the “10 Clothing Fixes That Everyone Should Know” on About.com. And if you’re itching to try something new try arranging a clothing swap with friends of a similar size for new-to-you fashion. All your new finds will need is a quick wash in the machine and you’ll be good to go!
These three tips are just a simple and easy start for your family’s budget. There are easily more things you could do, but the main message of all these cutting back techniques is to distinguish between what you need versus what you want, and to spend less on the what you want category.