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Saturday, September 27, 2014

98. What have we done to cut expenses and reduce our debt?





Here's some of the basics we've done to cut expenses and reduce our debt:

*Got rid of the home phone. 
*We ate out less. 
*We negotiated our service contracts (cell phone, internet, etc). 
*We started using coupons.
*We got on a budget.
*We used the cash envelope system.
*Cut down on Christmas giving 
*We cut magazine subscriptions
*Started taking meals to work or brown bagging it
*Started buying clothes for kids/maternity at consignment stores (Just Between Friends for example) instead of paying full price
*We started going to the grocery store and only buying what was on our grocery list (avoiding impulse buys). 
*We decided not to shop while hungry (when hungry you buy more when and don't necessarily buy the right stuff). 
*We stopped being brand or company loyal. We saved over $60 month on car insurance by switching from Farmers to Progressive for example.
*We cancelled our Sam's membership and share one now with a relative.

*Never had cable or satellite but that's a good opportunity too. Think Netflix or Amazon Prime.
*Neither of us smoked but quitting can literally save thousands of dollars

*Another good opportunity is to limit consumption of alcohol

*In October 2014 we plan on attempting a NO SPEND month

What about you? What have you done over the years to cut expenses and reduce your debt? 

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