CESI Financial Blog

Get Debt Consolidation Options

Call Now! (866) 484-5373

Cutting Back Expenses Saves You Money

Keeping your car full of clean oil will maintain its life.

It doesn’t matter why you need more money; all that matters is that you need it. In some situations, you have to get a second job or work more hours to bring in more cash. But almost everyone can cut back on spending. Cutting back expenses is the easiest way to earn fast money.

Let’s face it: Earning money requires time and resources, which often leads to more costs. Some of the cost may involve additional transportation fees or child care expenses. You might have to go back to school and learn a new skill or even get new tools and clothes. Saving money is simpler—and you also get to enjoy the benefit of having more money to do the things you want to do. Savings can add up from even small changes such as bringing your lunch to work instead of buying it. Here are some proven ways to cut back on your expenses.

Preserve It

This strategy is often overlooked: Preserve your assets by extending their lives. If you own a car, maintain it regularly. The cost of not maintaining your car properly can be enormous. If you miss a regular, inexpensive oil change, you could end up replacing your car’s engine, which could cost up to $4,000 according to Bankrate.

Preserve your health: Get annual physicals, eat right, and exercise regularly. Healthy people live longer and may avoid certain diseases, illnesses, and medical treatments—all of which add up.

Repair It

Think your washing machine motor has died? You could be wrong; it just might be the coupling, which could be less than $20. According to CNET, a brand-new front-loading washing machine could cost anywhere from $649 to $1,499. Before replacing a big-ticket item, see if it can be repaired. Even if you must hire an expert to come out, that is usually far less expensive than replacing the item.

Use Your Skills

If you have skills, use them. Don’t hire an expensive expert. Instead, take these tasks on yourself:

  • Cut your own grass.
  • Do your own nails.
  • Paint your own house.
  • Buff your own floors.

There are dozens of ways that you can use your own skills to reduce cost. Forget about the work. Imagine how much money you’ll save.

Get a Free Education

You can learn just about anything online for free, from word processing and coding to aerobics and accounting. Check out online sites that offer free classes to learn new skills. You even may be able to increase your income with them, too.

The more you save, the more you have. Cutting back expenses is the fastest way to that goal because it begins as soon as you make a decision to save.

Image source: Wikimedia Commons

[cf]skyword_tracking_tag[/cf]

Leave a Reply

Your email address will not be published. Required fields are marked *

OUR MISSION

Consumer Education Services, Inc. (CESI) is a non-profit service provider of comprehensive personal financial education and solutions for all life stages and for all of life’s milestones. Our goal is enhanced economic security for everyone we serve.


Follow Us

Consumer Education Services, Inc. © 2018