4 Ways to Cut Your Spending and Start Saving More for Your Future


In an uncertain economy or any economy, it is always prudent to start saving for future financial needs. Anyone can lose a job or require additional funds for college tuition or retirement. Financial experts recommend tips like these to spend less and save more.

Downsize Your Living Space

Consider moving into a smaller home, a condo, or an apartment. You can find apartments with plenty of living space and appealing amenities in various locations. Apartment living means you won’t have to pay property taxes, and some of the utilities might be covered by the manager or owner. You may not be responsible for lawn care or snow plowing. You could also choose to keep your current larger place and rent out a bedroom or the finished basement, but then you might lose some privacy. Weigh your options when thinking how to make your housing more affordable.

Eat at Home

People who lead busy lives often choose to dine out or pick up carryout meals instead of shopping for groceries and cooking at home. However, the cost of dining out can be substantial especially when you consider the additional costs of beverages, desserts, and a tip. Eating out occasionally can be fun and convenient, but try to dine at home as often as possible. Your meals may be more nutritious and cheaper, and you will possibly have leftovers for the next day that will save time and money.

Limit the Frills

Make a budget or monitor the one you have to see where you can reduce non essential spending. For example, are you making several coffee runs each week? That little perk can add up quickly. Do you shop frequently online or at local stores? Simply browsing can lead to unplanned purchases. When you make cash purchases instead of paying by credit card, you will likely buy just what you need with minimal frivolous purchases. Look for small ways to make do or do without. Get free video rentals from the library instead of paying for a monthly TV subscription.

Buy Second-Hand

Browse thrift shops for clothes, furniture, books, and household items. You can find great deals at a fraction of what you pay for them new. Goodwill boutiques feature donated designer items, and you can also find some upscale consignment shops with almost-new selections. Check out yard sales and online sites like eBay for quality products at low prices.

Once you start saving more money, you will love adding more as often as possible to watch your account grow. Before long, you’ll have the funds you need and can start saving for the next goal.

Anica Oaks is a professional content and copywriter who graduated from the University of San Francisco. She loves dogs, the ocean, and anything outdoor-related. You can connect with Anica on Twitter @AnicaOaks.

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