4 Ways To Cut Your Expenses
If you’ve ended up without a job - or even if you’re still employed - now is a good time to figure out some ways to cut your expenses, using these tips from Wisebread:
- Cut housing expenses by renting out a room, downsizing to a smaller rental, or moving in with relatives for a while. Although many people may think that living with their parents or other relatives is a last resort, it can take the strain off your finances until you are in a better position - but don’t make it a strain on their finances by not making a contribution that at least covers all the additional costs they incur by having extra people living there
- Cut transport costs by selling your car (especially if you have a loan on it, thus reducing debts as well) unless it’s vital to a future job where you live; or move to a place where you can use public transport more easily.
- Buy in bulk and stock up during sales for household necessities (that’s things you need - not things you want!). So far as other kinds of shopping go, avoid them like the plague.
- Be extra careful. Breaking something or having a minor car accident (if you’ve still got the car) have a much bigger impact when you’re living without a regular income; but it’s good practice to take care of your possessions at any time.
This entry was posted on Wednesday, January 14th, 2009 at 3:00 am and is filed under Saving Money. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.
