The cost cutting

Posted: November 1, 2013 in Finance, Safety
Tags: , , ,

Every time I think of cost cutting, I feel. It is so difficult to cut on your spending and live without shopping or eating out. Little did I know that I soon have to follow the same step? I recently booked a house, and my husband being the only bread earner, we find it very difficult to survive, if we spend too much. SO unanimously we decided that we will follow the cost cutting way.

Apparently the cost cutting started off really well for first 2 months, but post that, we kind of voluntarily or involuntarily stopped saving. Well! That’s too bad. But I think I have to make a list of how to save on hard earned money to avoid any financial crisis. So here are the lists I have thought about:

  1. Make a list: I have already started making a list of day to day expenses. Even a small pin we buy, I add that in the list. This way we know every month how much are we spending? Out of that how much is unnecessary expense and we can curb on that later. Try to make an accounting statement kind of sheet, with all your incomes and expenses included in that. This would galvanize you to save more and spend less.

2.      Curb on your travelling expenses:  For me this is a little difficult, as our family stays away from us because of my husband’s job elsewhere. SO, we had to travel quite often to visit them. But still, we have decided, we will curb on these expenses and instead of going once in every 2-3 months, we planned to go twice or thrice in a year. However, in case of any emergency or crunch, we cannot stop our self from going.

3.      Buying the groceries: At the crux of life, it’s imperative to cut on daily expenses. Instead buy your groceries and important items in higher quantity, so you don’t have to go again and again to the super market to buy these items. And buying anything in a glut will also save that extra penny.

4.      Avoid eating outside: With working couple, it’s really difficult to prepare lunch or dinner at home, and they end up spending more on eating outside. When you have a major expense ahead, try to cut on this expense and prepare anything at home. Even salad at home would be healthy and cheap. I am not saying cut on your eating habits. Try to get up a little early and prepare lunch and dinner together, so when you come home from a tiring day in office, you would not have to prepare food and you can avoid eating outside as well.

5.      Unnecessary expenses: Again, buying unnecessary items and clothes, is not important. This is a crucial point in your life. SO try to avoid unnecessary expenses.

 

Just a little caution from your side, will help you save more and that in turn will be helpful in future. This way we will also get a habit of spending less and saving more, which is always helpful. Try to follow this policy forever and you can lead a happy and contented life.

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