How to Cut Your Expenses and Live Smart

We often complain about the inflation as everything has become costlier nowadays. We never think of coping with the inflation. Just give it a try and inspect all your expenses you have done last month. How many of them were really necessary? May be half of them were the actual expenses and rest were just waste of money. Due to modern lifestyle we unknowingly spend a lot of money in buying things that were actually not needed. I can tell you how to cut your monthly expenses if you really want to and save money for later.

• Save electricity by switching off all lights and fans when not in use. Use power saving bulbs and lights along with power saver device at home.
• Buy only energy efficient home appliances that can help save energy and cut bill cost.
• Watch television less. Instead go for a walk or play with kids.
• Don’t leave your computer or laptop on standby mode.
• Save on gas by cooking rightly like using cooker instead of pot for cooking and covering the pan while cooking etc.
• Sell the stuff you don’t need at home.
• Always plan your purchases in advance. Don’t be impulsive buyer.
• Look for discounts and shop on the specified days if possible when any scheme is going on.
• Pay bills online to save postage as well as environment.
• Avoid buying clothes that are “dry clean only”. Learn to iron.
• Go for matinee movies instead of night movies as the matinee movies are cheaper.
• Use ATM’s as there is no service charge there.
• Learn to exercise at home, outdoors or in the park instead of expensive health club memberships.
• A certified pre owned car is a better option than buying a new car.
• Think twice before subscribing or renewing the publications/magazines if you don’t have time to read them.
• You can pay off your credit cards monthly to avoid interest.
• If applying for home loan then opt for fixed interest rate. The market fluctuations won’t affect your interest rate for a certain period.
• Participate in retirement plans of your company as it can help to save taxes.
• Very important quit smoking and drinking. It is purely wastage of hard earned money, time, mind and health. Nobody gets anything out of these habits except losing everything.
• Instead of buying look for renting options for books, magazines, CDs, VCDs and kids toys from libraries as it can give you a good choice of everything.
• Avoid unnecessary chat over phone, internet or cell phones.
• Always do market research before buying or renewing cable/satellite connections, cell phone schemes, insurance policies, etc.
• Don’t spend all the money available as any emergency can occur any time. Make a flexible budget and save some money every month for unexpected expenses.