I need to save money...what are good ways to cut back??

Question

I already dont spend alot of money on clothes, shoes, etc. Mostly gas, and food.

Answer 1

The simplest thing to do is make yourself a realistic monthly budget and stick to it. You will show how much is coming in, like salary and how much is going out in terms of what you spend. If you know how to set up a spreadsheet, all the better for convenience sake.
Obviously, your dilemna is expenses, so I will have you think like an accountant. 1. List all your fixed expenses like rent( or mortgage), heat, electric etc. 2. List all your other monthly bills starting with credit cards. 3. List food, gas and any other out of pocket purchase you may make in the month.
Now, set up 3 columns across the top called budget, actual and variance. The variance will be calculated as follows: B-A=V. So if B is greater than A you saved, and if A is greater than B you overspent. Now populate the budget column using last month's bills for all the billed items presuming they are relatively stable. Where you pay out of pocket like for food use a best guess.Keep track of what you spend out of pocket by category and post to the actual column. When your bills come in post the amount paid to the actual column. When all has been posted calculate the variances.
The whole notion is to focus on where the big hits are and focus on what you can do to shave them down or if possible eliminate them. The budget is your stake in the ground and your discipline to not only get you there, but to keep you on track.

Answer 2

Buy food and clothing on sale.
Make lunches and snacks for work rather than buying from vending machines.
Use the bus services, carpool or walk to your destinations
Get rid of cable television, and make use of the library's collection of dvds, videos, cds and audiobooks for your entertainment. And don't forget that they have internet services, if you have to sacrifice your own.
Buy clothing second hand or from the bargain retail outlets. They always have a nice, varied selection if you go often.
Try to cut back on phone bills by
avoiding making long distance calls

Answer 3

I have found that the best way to cut back is to do exactly that: cut back. Meaning what? Track all expenses and do an honest assessment of what I need and do not need. I also look for bargains on quality sales items, rem that being cheap means you actually buy more. I have also learned to do most things for myself: brew my own coffee or tea, buy my own copier and photo shop, etc. I buy used books, dvd's, and cd's. And I take the time to shop ar. for the best deals. There is a great list of ways to cut back in the book Your Money or Your Life. Check it out.

Answer 4

Do you pay for cable and/or broadband internet? They are pretty pricey and you could get rid of one or both.

The only way to save on gas is to drive less. Can you carpool? Take a bus? Plan errands in advance so you can make them on your way home rather than taking another trip?

For food, make a rule that you don't eat out. It costs too much. Plan your meals ahead and pack your lunches every day.

Good luck! :)

Answer 5

Catch the bus to work or car pool, drive only the weekends, buy food in bulk rather than individual quantities this will save you money, take your lunch to work and snacks, don't buy from lunch bars or vending machines. Buy clothes on sale, most clothing now is up to date so you can where them from one season to the next, get a job on the weekends or evenings, most cafes and restaurants require waiter staff

Answer 6

All of the other people have made good suggestions. 'Necessities' like cell phones, broadband, cable TV, etc., are all good places to look. So is coffee, etc.

There are two parts to money, offense and defense. We've been talking defense (how you spend your money). You could also address offense through your current job or getting a second job. That income could all go to savings.

There are no easy answers and it takes constant effort.

Answer 7

Well u could try cutting cell phone expenses. They dont seem very significant but just try calculating how much money you use on credits in a month.

Answer 8

Bring your lunch instead of eating out. I tend to eat those tuna packets that provide enough nourishment in the day. If you commute to your work, look for someone at your job who lives close by and commute together. I use to do this with 3 other ladies living in my area.

Answer 9

Buy groceries and bring sandwhiches to work rather than buying lunch, saves a lot of money.