Where to Cut During Financial Struggles
Spending right helps manage
finances with better control in tough economies. Slashing costs can save a lot
of headaches, money, without compromising on your lifestyle. Here are simple
strategies to trim up to 20% on each of those extra monthly expenses.
Food and Beverages
Buy at discount stores, and staples
in bulk. Eat less meat, and more vegetables. Also cut out on junk food.
Substitute expensive ingredients.
Transport and Communication
Combine trips for shopping,
and entertainment. Consider car-pooling. Bundle phone, cable, and net services
with one operator. Shift to lower rate plan if you don’t use a service fully.
Consider prepaid plans for cell phones if usage is low.
Household Products
Buy durables during sales.
Shop online for gadgets. Hold on to upgrades. Consider used furniture. Mix and
match home furnishings across brands.
Housing and Utilities
Shift to a lower interest rate
home loan, cut EMI. Move to a less expensive location, save on rent. Use
energy-efficient appliances to cut power bill. Insulate to reduce AC, and
heating costs.
Education and Health
Switch to per-day gym package
if not a regular. Switch to generic medicines wherever possible. Club routine
doctor visits. Explore online study aids.
Apparel and Footwear
Switch to private labels, and
in-house brands. Buy at factory outlets. Consider semi-formals. Stock up during
off-season discount sales.
Personal Products
Consider using grooming
products instead of visits to beauty parlors. Buy smaller packs of products
that are not used frequently. Cut down on costly cosmetic treatments.
Entertainment
Shift from a restaurant to a
budget eatery. Explore weekend getaways for short vacations. Move to morning
shows, weekday movie tickets which are cheaper. Cut down on expenses on
parties, and weddings. Download music.
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