How to Easily Cut Down Your Expenses.

Do you know how much money you would save or extra money you would have if you shred down what you are currently spending?

Most people struggle to spend less yet one of the most effective way to do this, is basically cutting down their expenses. From daily, weekly to monthly expenses.

Think about it, most of the expenses that part with most of your money are those consistent bills that seem small. Over time, these regular small bills accumulate and drain your finances.

On the other hand, they might be necessary but you are spending a lot on them yet you can have alternatives at a very affordable price.

Cutting down your monthly expenses at 50% or even 20% can help you save money, avoid debts, and lead a healthy lifestyle. Importantly, it will bring you closer to financial freedom and your investment goals.

The following are ways you can easily cut down your expenses in food, transport, rent, entertainment, debt and other regular services and habits that slowly and heavily add up to your expenses.

How to Cut Down your Expenses on Food.

Well, food, very important but costly if you let it be. Eating too much, spending too much on groceries or food supplies and eating out every opportunity you get is ripping your pockets off. And, I know you know that, you just find it difficult to avoid them. Well, this is what you need to do.

  • Remember your kitchen and use it – Cook your meals.

This one right here will save you quite a lot of money. Consider cooking at home and if you find cooking everyday difficult, you can cook several meals at once or cook a lot of food at once and store it.

If you get bored with your regular meals, try out new recipes once in a while.

Pack your cooked food for lunch in the office or when away for errands.

  • Don’t give in to Eating Out all the time you get the Urge.

It is okay to eat out once in a while but don’t make it a habit of yours. You can actually limit eating out to special occasions such as anniversaries, birthdays, and date nights or once in two weeks.

To avoid eating out, make sure you always have food supplies in the house.

  • Buy non-perishables in bulk and Minimize buying fresh foods.

Speaking of food supplies, consider buying dry food supplies in bulk since they have a long shelf life. Buying these food supplies in bulk at once is cheaper than buying them every now and then.

Consider buying fresh foods such as vegetables, fruits, milk, bread etc. once or twice a week as these go off pretty fast. So, buying them in bulk is a risk as you might end up throwing most away, thus losing money.

Buy other non-perishable supplies such as detergents, tissues etc. in bulk and look out for offers, discounts, vouchers and coupons.

  • Have your own Kitchen Garden.

You might not have a backyard to start a garden but in today’s world, there are so many ways you can start a garden even in your small space.

Convert a small space in your house to your small garden and plant vegetables that grow easily and are easy to take care of.

Some vegetables can easily grow anywhere, in a jar, in a bucket or in a planter.

How to Cut Down your Expenses on Transport.

Transport can easily drain you financially if you are not careful.

  • Use Public Transport – take the bus or the train.

Public transport is public because it’s very affordable especially when you master your routes and the short cuts.

If you have a car, consider using public transport as regularly as possible. Every time you leave your car behind, you save the money you would have used on parking and fuel. 

If you don’t have a car yet, forego the use of taxis or ubering regularly.

  • Share a ride if you can.

Do you have a friend in your office or who works along your office route who has a car? Why not share rides with them to and from work? You will save a couple of dollars.

If you are using a taxi or an uber, why not share a ride with a friend heading the same direction and share the cost – this works perfectly during events.

How to Cut Down your Expenses on Rent.

This is a killer of finances. Your living situation is key to your finances, just like food and transport.

  • Get a house with cheaper rent.

Why live in a neighborhood that will cost you half of your income on rent? There is always an alternative to what you have. Get an apartment, house that will not slash a big chunk of your money. Even if you have the money to comfortably pay the rent, why not live below your means and save the money?

  • Live with a roommate(s).

If you are okay with sharing a space with someone, consider having a roommate or a housemate to cut down on what you pay for rent. They pay half, you pay half depending on the arrangement you have.

How to Cut Down your Expenses on Entertainment.

This doesn’t go without saying, entertainment. Entertainment comes in so many ways, TV, partying etc.

Look at the regular costs that slowly drain your finances month by month.

  • Cut Down your TV/Cable subscription.

Do you really need all the several monthly subscriptions you pay for in entertainment? Why pay for 3 or 4 of those if you can find alternative ways to get your favorite shows?

Why not downgrade to basic subscription instead of premium? When you do the math, you will find that you spend a lot of money by the end of year on TV alone.

  • Please Reduce your Travel Expenses.

While traveling, either to visit family or for vacations, don’t go for the expensive options in air tickets or bus tickets.

Don’t spend money on expensive hotels or AirbNbs when you can get good affordable alternative options.

Avoid making traveling arrangements during peak seasons. You spend less off-peak on tickets and accommodation.

How to Cut Down your Expenses on Debt.

Without a doubt, debts stunt your financial growth. If you are not cautious, you will end up using most of your income to pay off debts and loans.

  • Have an automated way to pay your debts/loans.

When you don’t pay your debts, the interests accumulate highly in the long run and your credit score goes down. Therefore, you need to pay your existing debts such as student loans, etc.

Have an automated payment system to pay off your debts. Thus, a small amount or installment is taken away automatically to pay off your debt.

  • Stop adding new debts.

Clearly, you cannot bear fruit if you are adding problem to an existing problem. Avoid adding loans/debts while trying to pay off existing ones.

If you are always having debt to pay, you cannot grow financially. You should be saving the money and the interest you are paying towards these debts.

Other Regular Services and Habits to Cut Down. 

There are other regular services and habits you can consider to cut down you monthly expenses such as:

  • Your internet and cell phone bills.

Lower the money you spend on internet and airtime for your cell phone. These two can be way too much and unnecessary.

Get a cheaper internet or Wi-Fi plan or airtime and data plan. You can definitely survive on less.

  • Reduce the amount of alcohol you drink and the smoking.
  • Stop buying the many clothes you buy every now and then.
  • Reduce your barber shop or to your hairstylist visits.
  • Do your house chores yourself instead of hiring household services.
  • Cut down or eliminate other regular services such as gym membership and partying. If you can exercise from home, you don’t really a gym membership. Cut down on your partying habits as you end up spending a lot of money of drinks, food and transport on a night out. 
  • As you shop, go generic. Buy goods with the store’s branding – buy the store’s bread brand, tissue brand, soap brand. If you are shopping at Maddy’s Store, buy Maddy’s tissue or Bread. They are always cheaper.
  • Reduce your energy bills – switch off those lights if you don’t need them, get energy saving appliances, don’t leave your heater running too long, disconnect the TV once in a while, and don’t let the tap run too long. It’s just the simple little things you overlook.


Cutting down your expenses sounds easier said, but it requires patience, sacrifice, consistency and discipline.

Put into consideration the above changes in your spending and see how much you end up saving by the end of the week or month.

Cut down your food expenses, transport, entertainment, rent and other regular paid services and habits that eventually drain your finances.

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