28 Simple Ways to Trim Your Spending

Last week, I shared 20 expenses you can cut from your budget and how my family and I cut our grocery spending in half.

This week, we’ll look at some more ways to trim your spending to make room in your budget for paying off debt or saving up for your next financial goal.

I find this process a lot of fun because it allows us to get creative. I think you’ll like it, too.

So let’s dive in…

Take Another Look at Your Budget

Once you’ve cut a few expenses from your budget, grab your monthly budget and take another look.

This time look for areas where you can make a quick tweak to reduce your spending.

Challenge yourself to get creative and come up with at least ten ways you can trim your spending.

Write down whatever comes to mind.

Strategies to Trim Your Spending

Here is a list of 28 ideas, broken down by category, to help you get started:

Keeping Utilities Costs Low

1. Compare mobile phone plans

2. Ask service providers (i.e. cable, Internet, phone) for available specials or deals

3. Turn on lights only as necessary

4. Keep the AC temperature turned up

5. Keep the heat temperature turned down

6. Unplug appliances when not in use

7. Use CFL or LED lightbulbs instead of incandescent

8. Make it a game. Challenge yourself to cut 10% off your food and utilities budgets this month!

Saving on Insurance

1. Compare auto insurance

2. Shop and compare health/disability/life insurance annually

Saving on Child Care

1. Use a family member for child care instead of a daycare

2. Trade child care favors with another family

Saving While Shopping

1. Clip coupons

2. Make laundry detergent and other household cleaners

3. Buy used clothing

4. Borrow clothes from friends

5. Trade clothes with friends

6. Shop at garage sales

7. Shop at consignment sales/stores

8. Buy items off Craigslist, Amazon, and/or eBay

9. Buy store brands instead of name brands

10. Buy food staples (i.e. rice) and essentials (i.e. toilet paper) in bulk

Cutting the Cost of Transportation

1. Drive slower

2. Take public transit

3. Carpool

4. Plan errands in similar locations

5. Perform your own oil changes and other minor vehicle maintenance

Remember, these are just ideas to get your juices flowing. It doesn’t mean you have to implement every one.

But they are strategies that actually work.

My husband Mike and I have used almost all of these ideas to trim our spending, and we paid off more than $65,000 of debt in 11 months.

We didn’t implement every idea all at once. But we were focused on achieving our goals quickly so we put as many cost-saving techniques into action as we could.

Keep in mind that the more you trim your spending now, the quicker you’ll get out of debt and the sooner you can reach true financial freedom.

Now, Take Action

Decide on two strategies for trimming your spending that you can implement this week.

Then take action to do so by the end of the week. Make a pact with your spouse or accountability partner that you will act on these ideas by the end of the week.

Put it on your “To Do” list or add it to your calendar of how and when you are going to trim your spending.

Implementing two strategies this week is enough to make quick progress, and you will feel great knowing that you’re getting closer to achieving your goals.

What About You?

Participate in the conversation. How have you trimmed your spending? What strategies would you add to the list? Share in the comments below

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