5 Things To Do Today to Cut Costs


There’s no shortage of new things we can spend our money on, but there are limited ways to save money — so you think! The more ideas you consider in your everyday spending, the more creative you’ll get and turn those savings into something more productive, like building an emergency fund, starting to invest, or just enjoying a nicer vacation than you would have otherwise! So, here are a few money-saving tips that you may not have considered yet:


  • Evaluate EVERY Subscription – Simply check out your credit card statement or monthly checks you’re writing and think about each recurring expense and which ones you can cut. Perhaps it’s a newspaper or a club you belong to that you can live without. Chances are, you have at least a few recurring expenses and perhaps you want to try cutting the one you require least just to get some savings in that category.
  • Stop Eating Out – This may not be as easy as it sounds, but there are tricks to eat out less or spend less money when doing so. Ordering take-out really adds up, so that’s an obvious opportunity, but even if eating out with friends is to get out of the house, you can try things like skipping the appetiser or more expensive drinks or substituting soup for a more expensive appetiser or a coffee for a more expensive dessert after the meal.
  • Prepare Your Food in Bulk – Even home-prepared food adds up to a huge proportion of many household budgets. Buying in bulk at a cheaper rate and then eating leftovers for a few days or freezing meals for later can add up to big savings over time.
  • Drink Nothing But Water (Most of the Time) – This might sound too tough, but I’ve gone plenty of different days without drinking anything but water. Aside from the fact that this is how humans evolved for thousands of years until we started to get more variety of the past few hundred, the reality is that anything besides water costs money which adds up to quite a bit each year. Tea is cheaper than coffee, so when water isn’t an option, there are still ways to save money. But I guarantee if you look at what you spend now in non-water drinks in a year, it’ll make you think twice!
  • Always Consider Used!  We’re so used to buying things new these days, especially with new product cycles and great advertising. But the reality is, if you let everyone else buy new and then buy their practical throwaways, the stuff you’re getting is just as good as it was a year ago, but at a fraction of the cost. This is especially true of electronics, but also applies to everything from clothes to books.







Darwin is an engineer and MBA who takes an "evolutionary" approach to finance, writing about adapting to evolving financial management, tax, investing and savings opportunities. Making more money and saving more money is an adaptive process — join the evolution! He blogs at Darwin's Money www.darwinsmoney.com and ETF Base www.etfbase.com

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