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Have you ever thought about what you would do if you had more money in your pocket? I know that I have. While you may not be in a position to increase your income, it is possible to give yourself a raise by reducing expenses.

You might be thinking “Well that sounds great, but I don’t want to give up the things I enjoy, just to save a few dollars.” Here are some ways you can minimize your expenses and still enjoy your life.

7 Ways to reduce personal expenses

  1. Practice “NO SPEND DAYS/WEEK” – Whether it’s a day or you get bold and choose a whole week, decide for that time period, to limit spending to only groceries and gas. You will be amazed at how much you can save and as a bonus you practice financial discipline.
  2. Cancel memberships/subscriptions that you don’t use. We all do it. Sign up for memberships or trial offers and then never use them or cancel them. $20 here and there adds up quickly. Check your bank and credit card statements to make sure that you are not paying for things you no longer use.
  3. This is a big one ….. CANCEL CABLE! With Smart TVs and so many live streaming options, you can certainly find a cheaper option for home entertainment. I personally love the Amazon Fire Stick. The Fire Stick, which costs around $40, allows you to enjoy watching your favorites from Netflix, YouTube, Prime Video, Disney+, Apple TV, HBO, and more. It’s also easy to set up and use and Amazon Prime members get unlimited access to thousands of movies and TV shows.
  4. Buy generic! Yes, it is true! Many generic products are exactly the same as the name brand version. I regularly use generic brands and it definitely makes a difference in my grocery/cleaning budget.
  5. Save gas by streamlining your errands. I never realized how much gas and $$$ I wasted by running all over town on different days to complete errands. When gas prices went up to around $4/gallon back in 2011, I was forced to get organized and rethink how I was using my car. I quickly began to plan how to use one to two days a week to accomplish multiple errands all in one outing. Not only did it save me money, but time as well. I personally use a planner to help organize my life. If you are looking to get better organized and need a planner, click here for a great product suggestion.
  6. COLLECT YOUR CHANGE! It really does ad up. When you collect enough coins, cash them in and deposit it in your savings account. Nothing better than watching your money grow! Click here for a digital coin collection bank. This bank will let you know just how much you have collected.
  7. My final suggestion is to go paperless with your regular bills. Many utility companies offer discounts for going paperless and if you use your bank’s online bill pay, you won’t spend money on stamps to mail payments.

I hope you found some ideas that you can put into practice and watch your expenses go down and your savings go up!!

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