5 Ways to cut down your Spending

Below are some of the steps to cut down your unnecessary spending habits.

1. Prioritize your spending 

• Figure out what you need every month for your basic needs and set that money aside. 
• All extra funds can be saved for future goals or your emergency fund. 
• Use a budgeting sheet to help review your monthly expenses. 

2. Prepare your own food

• Preparing your own food at home costs less. 
• Review how often you are eating out and make a goal to decrease the amount you spend. 
• Suggest getting just dessert instead. Spending $10/week instead of $50 can really add up. 
• Try for breakfast/lunch specials instead of dinner. See if the restaurant has a happy hour or promotions menu. 

3. Review your entertainment costs 

• If you have all the streaming services and cable, it’s time to review how much you are watching of each and if you can cancel any. 
• Watch out for price hikes. Did introductory pricing expire? Netflix has been increasing pricing lately, can you still afford it? 
• Can you share a service with people in your house to save costs? • Sometimes calling your internet/cable providers will help you find new promotions that you qualify for. It’s worth checking out or consider switching. 
• Check out the library for books and DVDs for free. 

4. Buy used or refurbished

• Need a new outfit, shoes, or accessories? Check out a second-hand store, thrift shop, or consignment shop for better pricing on gently used items. 
• Buying a returned or refurbished item from a store (like BestBuy, Apple, or Target) can save you tons. Check websites and stores for these discounted products. 
• Check out marketplace on Facebook, and craigslist for good deals. Remember to always be safe when meeting strangers. Bring a friend and agree on a price prior to meeting. 

5. Shop around for big purchases 

• Don’t buy big ticket items from your favorite store without researching first. 
• Read reviews on different brands to make an educated purchase. 
• If you find a better price elsewhere, sometimes your favorite store will price-match. 
• See if it’s cheaper online but beware of shipping costs. 
• Google to see when items generally go on sale. Most products have off seasons where their prices decrease. 
• Wait for a holiday sale. Review ads to see if a product you want is on sale. Up next is Memorial Day, were many retailers will offer special sales all week. 

Hope these tips were helpful to save some of your hard earned money. Share if you have any other ideas to cut down spending.