Save Money By Cutting Back On Expenses

As the costs of things continue to rise many are looking for ways to save money. One way you can save money is to work of reducing or cutting out extra expenses. 

These are just a few ways you can cut back expenses to make more room in your budget and help cope with the rising costs of just about everything. 

How to start cutting back on your expences

Create a budget: One of the most important steps in cutting out extra expenses is to create a budget. This will help you to see where your money is going and to identify areas where you can cut back.

Make a list of your expenses: Make a list of all of your expenses, including fixed expenses like rent or mortgage, and variable expenses like groceries and entertainment.

Identify areas where you can cut back: Once you have a list of your expenses, look for areas where you can cut back. This could include things like eating out less, cutting back on subscriptions, or finding ways to reduce your utility bills.

Prioritize your expenses: Once you have identified areas where you can cut back, prioritize them based on their importance. For example, cutting back on entertainment expenses may be less important than cutting back on housing expenses.

Look for deals and discounts: Look for deals and discounts on the things you need, you can find them by checking online or in store sales, or by using coupons and coupon apps.

Be mindful of your future expenses: Be mindful of expenses that will come up in the future and try to plan for them, so you don’t end up overspending.

Track your progress: Keep track of your expenses and your progress in cutting back. This will help you to stay motivated and to see how far you have come.

Track your spending: I like to use an accounting ledger to track our spending. This can be hard for constant use because my husband is really bad at turning in receipts (yes even the ones I need) but I make a point to do this a couple times a year.

Be flexible: Don’t be too hard on yourself, and be flexible with your budget. If you slip up, don’t give up, just adjust your budget and get back on track.

Common expenses you can cut back on

There are several common expenses that individuals can cut back on in order to save money:

Eating out

To cut back on eating out expenses, try meal planning and grocery shopping for ingredients to cook at home. This will not only save money, but it will also give you more control over the ingredients and portions of your meals.

You could also try to cook in bulk and freeze leftovers for future meals, so you don’t have to cook as often.


To cut back on entertainment expenses, try finding free or low-cost options such as watching movies at home, going for a hike, or having a game night with friends. You could also try to find free events or activities in your local area, such as festivals, concerts, and art shows.


To cut back on shopping expenses, try making a list of what you need and sticking to it. Avoid impulse buying by waiting at least 24 hours before making a purchase, and consider if you really need the item or if you can live without it. 

When it comes to things like food you can follow these tips for fighting inflation at the grocery store to help you save. 


To cut back on transportation expenses, try using public transportation or carpooling. This will not only save money on gas, but it will also help reduce your carbon footprint. Also, try to combine trips to save on gas and reduce wear and tear on your car.

During the warmer months try to do more on foot or bike. From walking to the store nearby to riding your bike to work there are many small opportunities to spend less as the price of gas goes up. 


To cut back on automated expenses, try reviewing your subscriptions and canceling those that you don’t use or need. Also, try to avoid purchasing the latest technology or gadgets, as they can be costly. 

Auditing your subscriptions can be easy. Put all subscriptions on one card. When you are ready to audit once or twice a year lock the card to prevent them from charging. If your family notices when one cancels then you know that one should be renewed. I use this trick every year to cut down on these automated expenses.


To cut back on insurance expenses, try reviewing your policies and seeing if there are ways to lower your premiums. You can also negotiate with your insurance company to see if they can offer you a better rate.

From car insurance to life insurance, the market has gotten increasingly more competitive and many people to find that by shopping around now they can reduce the cost of their insurance plans. 

Energy bills

To cut back on energy bills, try turning off lights and appliances when not in use, using energy-efficient appliances and light bulbs, and sealing any leaks in your home. Also, try to use natural light during the day and lower your thermostat during the winter and raise it during the summer.

One simple way you can help lower your energy bills is to get smart devices like smart bulbs that allow you to turn them off from your phone or set them to turn off automatically. 

Phone plans

To cut back on phone plan expenses, try reviewing your plan and see if there are features you don’t use, and if so, consider downgrading to a lower-cost plan. The market for compatibly priced prepaid phone plans has grown drastically over the past few years. 

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