Spending Cuts

Build Your Savings with Easy Spending Cuts

It can be quite difficult to save money if you don’t know how to reduce the amount of cash that you spend on a daily basis. Once you’ve made the decision to make daily budget cuts or spending cuts, you’ll be surprised to find out just how much money you can save!

These tips will make it easy for you to make progress toward your financial goals:

  1. Keep track of your spending. One of the easiest ways to track spending is to use a small notebook that you can keep handy in your pocket or purse.
  • Whenever you spend some money, jot down the amount that you spent in your notebook. Most people make the mistake of skipping this important step.
  • Never underestimate the power of tracking your finances. Even though your mind is incredibly powerful, it can be difficult to remember where all that money went.
  • It might take awhile to get into the habit of writing down the amount of cash that you spend on a daily basis, but once you get used to it, it becomes fairly automatic.
  1. Cut back on pleasure. Unfortunately, it’s too easy to overspend on entertainment and leisure. Cutting back on pleasure can drastically improve your financial situation. But what can be removed from your list?
  • Watch movies at home rather than go to the theater. Invite your friends for a potluck and you can have dinner and a movie for less than the cost of movie tickets.
  • Consider breaking habits such as smoking. A pack of cigarettes can cost $10 or more in some areas. You could try switching to a less expensive alternative such as e-Cigarettes or just focus on quitting smoking altogether.
  1. Eat out less often. We all love to dress in fancy clothes and hit an expensive restaurant for a night of good food and relaxation. There’s nothing wrong with that. But the bills can add up to an outrageous amount and have a huge impact on your finances.
  • Consider reducing the number of times that you eat out.
  • Learn to cook at home. It’s cheaper, healthier, and also fun.


  1. Check for less expensive alternatives to current services. We all utilize a different set of services on a daily basis. What if there was a way to reduce those bills?
  • Consider a pre-paid phone card. Most people are glued to their smartphones, but how much time do you spend actually making calls?
  • Sticking to internet-based text messages is also another cost-effective way to communicate with people.
  • Does your cable company have a less expensive package that would meet your needs?
  • It’s convenient to have the magazines you enjoy delivered to your doorstep. But is there a more frugal alternative? Yes, most of these magazines have online subscription options, and you don’t need to pay a cent!

Getting in the habit of cutting expenses takes some practice. But once you start to condition your mind to look for opportunities to save a few extra bucks, you’ll soon realize that your financial goals are within your reach!


The FTG Knowledge Bank