Taking a closer look.
When it comes to spending less, it’s not always easy to know where to start: Dining out and entertainment expenses might seem like easy targets, but focusing on bigger expenses like a mortgage or rent is a good idea, too. To help focus your efforts and generate results, consider these 10 ideas:
Focus on the ‘big three.’
For most American consumers, the biggest chunk of their income goes toward three expenses: food, transportation and housing. Those costs tend to be relatively stable — changing homes isn’t easy — but if you can minimize costs by taking on roommates, biking to work or using public transportation and cooking as much as possible, it will help you stay within your budget.
Minimize personal care.
You don’t have to actually scale back on personal care — hygiene is important, after all — but you can adopt more DIY strategies, like painting your own toenails, instead of paying a nail technician at a salon or spa. Even haircuts can be spaced out more, and you can opt for generic brand shampoo and makeup when shopping at the drugstore.
Boost your cooking repertoire.
Since one of the easiest (and quickest) ways to cut back is to start making more of your own food, you might want to try out some new recipes. Susan Yoo-Lee, a U.S. News Frugal Shopper blog contributor, offers a variety of barbecue suggestions as well as frugal salads. You can also browse websites like allrecipes.com for more suggestions, including ones based on ingredients you already have in your kitchen.
Carry a calculator.
Before you hit the stores, make sure you have a calculator handy. U.S. News Frugal Shopper contributor Amber Sager points out that when you’re comparing prices, it’s not always easy to figure out what actually costs more, given the variety of sizes and packaging involved. A calculator can help you run the numbers before you get to the checkout line.
Become a coupon master.
You don’t have to spend hours each week snipping coupons from circulars to stay on top of discounts. According to U.S. News Frugal Shopper contributor Karen Cordaway, one hour a week is all you need to start couponing effectively. She suggests starting slowly by focusing on discounts at one store and then building up your couponing muscle over time.
Take advantage of rewards programs.
Whether you’re shopping for beauty products or monthly subscription services, you can save money by signing up for rewards programs or taking advantage of refer-a-friend programs. Many drugstores, retailers and even grocery chains offer rewards programs to frequent shoppers. Subscription sites such as Stitch Fix and UrbanSitter offer customers credits for referring friends — so it pays to shop and share.
Do your own work around the house.
It might seem easier to hire a professional to paint your home or do yard work, but you can often do the work yourself, suggests U.S. News Frugal Shopper contributor John Schmoll. In fact, he says you can save hundreds or even thousands of dollars a year by taking matters into your own hands. (Exceptions, of course, include anything with safety risk — electrical work that goes beyond changing a light bulb probably should be handled by a trained professional, for example.)
Always be on the hunt for the next deal.
After every holiday weekend comes another one, right around the corner. In fact, you can always shop for discounts, even outside traditional sales days, by using comparison websites such as PriceGrabber.com or RetailMeNot.com. You can often negotiate refunds even after you make a purchase if you see the item marked down later. It never hurts to ask.
Use smartphone apps.
If you’re already paying a monthly fee for a smartphone, then you’ll want to use it to your advantage when it comes to saving, too. In addition to downloading a budgeting app and using your phone to track your online balances (and receive text alerts from your bank), you might also want to consider downloading apps of the stores you visit frequently, so you’re the first to know when they release new discounts to their loyal customers.
Avoid waste.
Buying something, whether it’s food, a new toy or an outfit, and then watching it go unused and eventually thrown away, is frustrating because it’s such a waste of money. Shopping with a list and avoiding spur-of-the-moment purchases can help reduce the chances of unnecessary waste. You can also try the 24-hour rule — avoid making any unplanned purchase until you’ve thought it over for at least a day.
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10 Ways to Cut Your Costs This Week originally appeared on usnews.com
