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51 Ways to Cut Expenses Now — and Still Enjoy Life
Knowing how to cut expenses without giving up the things that make life nice is a valuable skill. With a bit of attention and practice, you can find surprising ways to lower household costs. For example, the $100 you save today, if invested at a 7% annual return, could grow to about $760 in thirty years.
Whether you’re trimming spending for a big goal or because income has fallen, the main worry is often that you’ll have to give up life’s pleasures. The good news: you can save for a house, invest for early retirement, and still enjoy yourself. Years ago we cut our monthly spending by about 40% and, if anything, improved our quality of life by cutting waste and choosing to spend consciously on what matters most. Start small today and tomorrow will be easier.
Housing
1. Keep just enough space. Extra rooms mean higher mortgage or rent and bigger utility bills. If you haven’t used a room in six months, consider downsizing or renting it out.
2. Move to a less expensive area. Leaving a major city can reduce housing costs by 30% or more, and everyday expenses often fall, too.
3. Rent out a room. A vetted tenant can significantly offset housing costs.
4. Try different living arrangements. Living in a smaller home, shared housing, a tiny house, or on a boat can cut living costs and free money for savings.
Food
5. Plan a weekly menu. Having meals planned reduces takeout and food waste.
6. Buy only what you need. Make a shopping list from your meal plan and stick to it, with a small allowance for treats.
7. Keep a store cupboard. Stock staples like beans, pasta, rice, canned tomatoes, and sauces for quick, cheap meals.
8. Use by-products. Leftovers like egg whites or vegetable trimmings can be turned into other dishes—search for ideas online.
9. Cook and freeze soups. A little money spent on vegetables can become many meals, and soups work well with slightly tired produce.
10. Choose store or generic brands. Often they taste the same and cost much less.
Monthly bills and subscriptions
11. Cancel unused subscriptions. You probably have services you don’t use—cancel them or use a service that cancels for you.
12. Negotiate lower bills. Call your cable, phone, insurance, and other providers; they often reduce fees to keep you as a customer.
13. Unplug devices on standby. Turning off unused electronics can save tens of dollars a year.
14. Turn off lights. Don’t leave lights on in empty rooms.
15. Use draft stoppers in winter. Simple fixes and heavy curtains reduce heating costs.
16. Close off unused rooms. Don’t heat or cool spaces you’re not using.
17. Add insulation. Better insulation keeps heat in during winter and out in summer.
18. Fix drips. A small leak can waste a lot of water and add to bills.
Insurance, banking, and fees
19. Shop insurance at renewal. Loyalty rarely saves money—compare quotes each time.
20. Review life insurance. Check your coverage and shop around if you haven’t reviewed it recently.
21. Use a no-fee bank account. Compare perks to fees; if the fees aren’t worth it, switch to a low-fee or free account.
22. Avoid overdraft fees. Keep accounts in the black or use accounts with free overdraft protection.
23. Pay off debt. Interest payments drain money—focus on eliminating high-interest debt first.
24. Pay credit cards in full each month. Credit card interest often wipes out gains from investments.
25. Lower investment fees with low-cost robo-advisors and index funds so fees work for you, not against you.
26. Reduce 401(k) fees. Check your plan for hidden fees and choose low-cost options where possible.
27. Automate savings and investing. Send savings straight from your paycheck so you spend what’s left.
28. Consolidate debt. Sites like SoFi can combine loans and may reduce payments.
29. Use investment apps. Many apps let you invest automatically into chosen portfolios.
30. Raise insurance deductibles. Higher deductibles usually mean lower premiums—just make sure you can cover the deductible if needed.
Mindset and wants
31. Want less. Delay purchases with a waiting period—often you’ll change your mind.
32. Shop your closets first. You’ll often find items you forgot you had.
33. Learn about money. Reading blogs, books, or listening to podcasts helps you make better choices.
34. Buy quality clothing. High-quality pieces last longer and save money over time.
35. Choose classic styles. Timeless pieces stay useful longer than fads.
36. Match your wardrobe to your lifestyle. Don’t buy outfits you’ll rarely wear.
37. Don’t amass dozens of shoes. Avoid obsessive collecting.
38. Recycle clothes. Sell or donate items you don’t wear to avoid clutter and recoup value.
Transport
39. Do you need two cars? Cutting a car can save hundreds—sometimes it’s cheaper to rely on rideshares.
40. Walk short trips. Walking saves money and improves health.
41. Cycle when you can. Biking covers more ground than walking and keeps you fit.
42. Travel cheaply. Use travel-hacking tips, camping, or RVing to explore affordably.
Entertainment and small incomes
43. Spend on what truly lifts you. Treats that bring real joy aren’t wasted when done in moderation.
44. Stream instead of going to the cinema. Streaming services are much cheaper for most movies.
45. Get paid for spare time online. Sites that pay for watching videos or taking surveys can earn small amounts for time you’d otherwise spend scrolling.
46. Outsource hated tasks. Paying someone to do chores you dislike can free time for paid work or more valuable pursuits.
47. Barter skills. Swap services you can provide for services you need.
48. Review apps regularly. Delete unused apps and cancel their subscriptions.
For kids and family
49. Buy less for children. Kids usually don’t need as many toys or clothes as we think.
50. Shop resale and thrift stores for children’s items. Costly clothes and toys are often outgrown quickly—secondhand works well.
51. Limit organized activities. Give kids time to explore on their own instead of always enrolling them in expensive programs.
Set an intention and start small. You can make meaningful cuts—often $200 or more—in a week by trying just a few of these ideas. Begin with one change today and build from there.
