Easy budget cuts?

[Beev]

I added up all of my expenses, and I don't like what I see. Based on what I've added up, the easiest thing for me to cut is food expense. I eat out way too much and need to cook for myself more. Anyone else have any "little tricks" they do to save money here and there every month?

My current breakdown:

Rent $800
Insurance $50
Internet $40
CC $50
Student Loans $685
Electric $100
Water $20
Gas (Heat) $50
Gas (Car) $80

Total: $1875

Not obscene by any means, but it's higher than I would like. I don't think I forgot anything...

 

[kami333]

Leave your wallet at home.

 

[rcpratt]

Post your breakdown? Cutting down eating out is definitely something that can make a pretty big difference. Downgrading your internet/cable or just getting rid of your cable is another common option.

 

[Ns1]

got rid of cable
getting rid of car
don't carry cash around


that said, you can pry my iphone out of my cold dead hands.

 

[krunchykrome]

I added up all of my expenses, and I don't like what I see. Based on what I've added up, the easiest thing for me to cut is food expense. I eat out way too much and need to cook for myself more. Anyone else have any "little tricks" they do to save money here and there every month?

I think reducing the amount spent eating out will bring down expenses quite a bit. Other areas to cut could be premium television services/channels, monthly subscriptions (ie netflix), reducing home energy consumption, and evaluating your cell phone plan/features (do you really need that many minutes, data, etc.)

One simple trick to save is to grasp the concept of paying yourself first. In other words, think of yourself as a bill. Make sure that you pay this bill every month, before any other bills, even if it means you save a measly $20/month.

Another idea is to get a good cash back credit card. Use this card for all normal living expenses, and pay all bills (when possible) with this card. Don't use your debit card for anything; all expenses go on this card! The idea is to maximize your cash back. My wife and I have a bunch of credit cards, but we use only 1 exclusively for all purchases/bills. We'll probably get a $800 rebate this year (we've already accumulated $400+ this year). Make sure to pay the balance in full every month so that you don't accrue interest.

 

[SunnyD]

Eat less, don't go out to eat, don't go out period (gas), get rid of cable and or home/or/cell phone (you only need one really). Set your thermostat higher/lower accordingly. Pay off your credit cards then put them in a drawer somewhere. Use cash only when you go out - give yourself an "allowance" every week, like $50, and when you run out of cash for the week that's it. Get rid of any other reoccurring bills you don't really need (cancel subscriptions, etc).

Those are just a few of my favorite things.

 

[spidey07]

Stop eating out and stop going to bars. You'd be amazed at how much money you save.

Our idea of eating out is a 15 dollar lunch at a mexican place on a saturday. Take your lunch to work, etc.

 

[rcpratt]

Meh, I hate the concept of leaving your cards at home and only carrying cash. Maybe I'm just unique in that plastic doesn't compel me to spend needlessly; I would lose more money in lost change.

 

[GagHalfrunt]

I added up all of my expenses, and I don't like what I see. Based on what I've added up, the easiest thing for me to cut is food expense. I eat out way too much and need to cook for myself more.

Then what's the problem? You'll learn a useful skill and you'll get good food. Don't view cooking for yourself as a chore, view it as a way to get exactly what you want to eat.

 

[Beev]

Post your breakdown?

Added to OP. I don't have cable TV at all, just internet.

 

[PricklyPete]

-eating out is big, although if you're not careful, you can spend a ton at the grocery store as well. It's all about being smart.
- TV - a reasonable internet connection can usually suffice as most shows are on the internet these days (network sites, Hulu, etc). If you need more, you can always do a Netflix subscription for $9 and get streaming/DVDs
- Heating and Air Conditioning - try to be a bit more careful with these...take clothes off or put extra clothes on instead of adjusting. Try to go as long as possible before turning on AC or heat as the season's change.
- Don't buy clothes just because they are the latest fad
- Car's - just buy what you need, not what you want
- Spend your weekend pursuing free activities. If your friends like to do expensive things...try to suggest inexpensive things before they have their mind made up
- don't be afraid to be the "frugal guy". Be generous, but don't try to "keep up with the Smiths"

Of course this is all easier said than done...but the concept is fairly straightforward.

 

[polarmystery]

I added up all of my expenses, and I don't like what I see. Based on what I've added up, the easiest thing for me to cut is food expense. I eat out way too much and need to cook for myself more. Anyone else have any "little tricks" they do to save money here and there every month?

My current breakdown:

Rent $800
Insurance $50
Internet $40
CC $50
Student Loans $685
Electric $100
Water $20
Gas (Heat) $50
Gas (Car) $80

Total: $1875

Not obscene by any means, but it's higher than I would like. I don't think I forgot anything...

That's almost as bad as mine...it's close though. Only difference is I have a car payment, insurance is $20 higher, my rent is $50 cheaper, my student loan payments are $90 higher and my CC payment is almost 10x that of yours (I'm aggressively paying it off)

My total: $3,026

Almost zero wiggle room (what sucks is that I almost never eat out and cook like crazy, but it'll be like that for about another year until payments start falling off)

 

[joesmoke]

well, id have to say its your huge student loan payment. you either view it as a good thing that youre eliminating debt, or you dont, but either way your income is going towards paying off that "investment". if youre making way more than you would have without the degree, then it was a wise investment. if you dont, then it wasnt.

i dont see food on your breakdown, which probably means theres lots to cut there too (two words: brown rice)

you dont have cable, a phone, or a car payment so theres not too much else to cut out.

 

[soulcougher73]

Move to "the dot". Rent is much cheaper there

 

[DaveSimmons]

I pay $4 a month for a dumb cell phone (T-mobile pay as you go) instead of $100 a month for an iPhone/Android with data plan. The phone cost $30 (with a $25 time card).

I use a Pur filter pitcher instead of bottled water, and I don't get a latte every morning.

 

[HydroSqueegee]

eating out is a daemon. It sneaks up on you fast and is my biggest downfall.

 

[pontifex]

eating out is a daemon. It sneaks up on you fast and is my biggest downfall.

Same here. it's just so convenient though.
you don't have to cook, you don't have to clean, you don't have to carry it around all day (or remember to bring it with you or worry about it in the fridge at work), don't have to worry about waste (cooking for 1 is difficult imo because if you buy too much it goes bad before you can eat it or you make it and then you don't want to eat the same crap 4 days in a row) , and generally it tastes better.

 

[IronWing]

What is CC? Credit cards are a payment mechanism, only the interest is an expense. What expenses are buried in the CC category?

$80/month seems implausibly cheap for a car. My cars cost more than this and they are paid for. Does this include maintenance, repair, gas, insurance?


Edit: Reread your category, I guess that is just gas for the car. Anyway, you mention eating out but didn't post your food expenses.

 

[spidey07]

Same here. it's just so convenient though.
you don't have to cook, you don't have to clean, you don't have to carry it around all day (or remember to bring it with you or worry about it in the fridge at work), don't have to worry about waste (cooking for 1 is difficult imo because if you buy too much it goes bad before you can eat it or you make it and then you don't want to eat the same crap 4 days in a row) , and generally it tastes better.

Sammiches, a pan fried protein and steamed rice/veggies is incredibly easy (not to mention pasta, salads with a grilled meat, etc), cheap and keeps well in the fridge for leftovers. I never cook for just one meal, normally 3-4.

Eating out is one of the biggest suckers of money there is. If you pack your lunch and eat at home you're easily saving 100 bucks a week.

Oh, and drinking at home is a lot cheaper than bars.

 

[rcpratt]

What is CC? Credit cards are a payment mechanism, only the interest is an expense. What expenses are buried in the CC category?

$80/month seems implausibly cheap for a car. My cars cost more than this and they are paid for. Does this include maintenance, repair, gas, insurance?

It says Gas (Car).

 

[crashtestdummy]

Do you live alone? Living with a roommate drives down the rent and lowers the utility costs.

 

[IronWing]

It says Gas (Car).

I was editing while you were typing. It's like a psychic connection between the two of us.