Have you ever looked in your wallet or bank account at the end of the week and felt a little surprised at a lower number than you were expecting?
We've all been there, so don't feel alone.
Regardless of how much money you make, it's never a great feeling to find you've spent more than you wanted to. So today, we're going to discuss some great methods of cutting that spending down to a more manageable size -- and saving you from worse problems down the road.
How to Spend Less
Reducing your family's expenses doesn't require a great deal of sacrifice. Think of it more as mindfulness. You just need to be aware of what you're spending and then make adjustments. You can save your wallet with these seven budget-shrinking tips for how to cut spending:
Stop Spending With Plastic
Instead of using a debit or credit card to pay for your daily expenses, hit the ATM and use the cash you withdraw to pay for everything.
The physical exchange of money from your hands to whoever you pay will feel way more real every time you make a purchase. As a result, it'll stick in your head more that you actually are spending more money than you need to.
Plus, you'll always know exactly how much money you have left to spend without having to check your bank or pray-and-pay with your credit cards.
Cut Out Luxuries Altogether
On your lunch break, do you opt for fast food? Stop!
By bringing your lunch from home, you'll save loads of cash every week which will seriously add up at the end of each month.
And if you have a regular caffeine habit, it's time to start brewing your coffee at home and bringing it with you in a thermos. The amount of money you'll save by not dropping $3.00 on each fresh cup of Joe adds up to a sizeable fortune at the end of the month.
Find Cheaper Alternatives
There are always better options when it comes to spending your hard-earned paycheck.
For instance, instead of going to a big grocery store to do all your shopping, check out local grocers instead. Some have a variety of coupons in newspapers and flyers that will save you some great cash on your grocery bill.
Also, every household pays certain utilities depending on their situation. The most common are electricity, water, and gas. What many people don't realize, though, is that there might be competitor utility companies out there willing to slash your monthly bills down if you simply switch providers.
Cut Back on Subscriptions
One of our favorite tips for how to drastically cut expenses is to look at your entertainment options. Do you subscribe to every new streaming service? Do you have lots of magazine subscriptions? You can find tons of free alternatives to replace them. Watch regular TV or online videos. Borrow magazines from friends or read them at a bookstore.
Institute the 24-Hour Rule
Pledge to yourself that you will not make any major purchases without waiting at least 24 hours. Many people buy things on impulse far too often. By the next morning, we're not even sure we want the item anymore.
By putting a one-day pause on anything you wish to buy outside of groceries and gas, you can save money on household and miscellaneous expenses, such as a new couch or new running shoes.
Become a Loyalty Program Junkie
How to cut expenses on the family budget? Try lowering the costs of the things you must buy, like groceries and new clothes for the kids.
Do this through strategic shopping. Loyalty programs reward you for shopping somewhere consistently. You can build up rewards by spending a certain amount of money at a store or buying certain kinds of merchandise. You'll quite often save a bundle on your next visit when you use your loyalty bonuses.
Dire Straits Budgeting
If you find yourself very strapped for cash, this is the best time to think about your priorities.
In other words, cut, cut, cut.
Anything you absolutely do not need to help you and your family survive comfortably, you don't need to pay for. That means entertainment expenses like cable TV, extra food (like snacks and beverages), alcohol/tobacco, or even making too many trips in your vehicle each week.
You'll balance your budget out soon enough, and then you can consider bringing back in those extra expenses that make your day easier. For now, the really important thing is getting through to the next paycheck!
Still, everyone encounters a time where they simply can't afford something really important. Maybe you have a sudden visit to the doctor's office that leaves you with an expensive prescription. Maybe you accidentally break your glasses and are blind without them.
In these situations, you need money fast. That's where a personal loan lender like Atlas Credit comes into the equation.
Atlas Credit can provide you with a quick and easy personal loan of up to $1,400 with repayment plans up to one full year. You'll get your money as soon as you're qualified, whether you apply online or in person.
Extra money can seriously save the day when you're in need. Contact Atlas Credit today for more information about how a personal loan can lift you out of financial hardship!