13 Ways To Reduce Your Spending

If you’re looking for ways to reduce your spending, try these 13 tips. You can slash expenses without sacrificing enjoyment.

These suggestions will put a few extra dollars in your pocket without having an impact on how you spend your time or what you buy—giving you that much more flexibility when it comes to what truly matters to you. Here are some of our favorite ways to reduce spending—quickly!

1. Make a List

Make a list of must-haves before shopping for anything else. Do you really need those shoes? Will that new shirt make you happy? Those little purchases add up quickly, so be honest about what you actually need and don’t waste money on things that aren’t important to you.

2. Eat at Home

Cook dinner at home more often (or better yet, ask friends over). Eating out adds up fast! If you dine out once a week, that’s $150 a month.

If you make a meal at home instead of going out once a week, you’ll save $600 a year—and probably eat healthier food in the process.

3. Keep Track of Your Spending

Keep track of What you spend every day. Try using an app like Mint or Personal Capital to help keep track of where your money goes each month—and see if there are any areas where you can cut back without sacrificing enjoyment or quality of life.

If you’re not sure how much you’re spending on certain things, start tracking them for a few months to get a better idea of where your money is going.

You might be surprised at how much small purchases add up!

4. Avoid Credit Cards

Use cash instead of credit cards when possible. Using cash makes it harder to overspend, since it forces you to consider whether something is worth parting with actual currency before making a purchase.

If you don’t have enough cash on hand, that’s a good sign that you probably don’t need whatever it is you’re buying!

5. Go for Cheaper Options

Look for cheaper alternatives to things you use regularly. If there are cheaper options available for items like toiletries or groceries, give them a try—you might be surprised at how similar they are in quality to their more expensive counterparts!

6. Cut Back on Unnecessary Subscriptions

Magazines, streaming services, and other recurring subscriptions can add up quickly—and if you’re not getting much value from what you’re paying for each month, it’s probably time to cancel some of those automatic payments.

7. Buy Used Whenever Possible

Buying used is one of the easiest ways to save money while still enjoying high-quality products.

Sites like eBay, and Craigslist make it easy to find almost anything you need without breaking your budget—just make sure that any item you buy has been well-reviewed by previous buyers before making a purchase.

8. Pay Bills As Soon As You Get Them

If you pay bills once a month, think about switching to monthly billing instead.

It may seem inconvenient at first, but it will help prevent small amounts of interest from adding up over time—which could end up saving you hundreds or even thousands of dollars over the course of a year.

9. Use Cashback Apps When Shopping Online

Cashback apps like Ibotta and Ebates let you earn cash every time you shop online, which means extra savings just for buying stuff you were going to buy anyway!

10. Use Free Trials Before Committing to Paid Memberships

If you’re thinking about signing up for a gym membership or music streaming service, check out their free trial periods first.

Many subscription sites offer free trials lasting anywhere from 14 days to 30 days, so you have plenty of time to decide whether it’s worth shelling out money for an ongoing subscription.

11. Take Advantage of Free Events in Your Area

Going to museums, concerts, festivals, and other types of public events is a great way to enjoy yourself without spending too much money—and many cities host tons of these kinds of activities throughout the year!

Check out your local paper or event listings to see what’s happening nearby.

12. Save Unused Gift Cards Until You Have Enough for Something Big

If you receive gift cards as gifts, don’t spend them right away—instead, wait until you have enough saved up to cover a larger purchase (like a new computer or TV).