How To Reduce Spending And Monthly Expenses

cutting back expenditure how to reduce spending cut monthly expenses in half

If you are like most people, cutting back on spending and monthly expenses wasn’t at the top of your to-do list until it forced its way there. There are some people who are just naturally good with money and there are those where they have to learn to get better with money due to certain circumstances. But the majority of us are part of the percentage who are forced to make cutting back a priority when it comes to our recurring expenses. 

Cutting Costs Is Crucial

Everyone’s financial situations are very different. Maybe there was two incomes coming in but then was reduced down to one for being a stay-at-home parent. It could also be because the two-income household lost one income due to being laid off, which is happening a lot again nowadays due to the economy. Regardless of the situation, the worst way to learn about cutting back is to figure it out the hard way, but nonetheless, the lesson will have to be learned in some kind of way, right? 

It may not be at the forefront of your mind now, nor may you even need to adopt these habits right now, but you never know what life may throw at you. So it’s always good to at least have the knowledge on what to do in case you’re put in a situation where you indeed will need to cut back. According to, the hardest part of it all is getting in the right mindset to do it. In the event you do need to cut back, follow these frugal tips on how to reduce your monthly expenses. 

Dine-In More Instead Of Dining Out 

Eating out is one of the biggest areas where cutting back can have a major impact on monthly expenses. You may not realize it but eating out is very expensive. Why is eating at restaurants so costly? Because ultimately, you are paying for the convenience of not having to physically prepare the food yourself. Eating out for lunch two to three days out the week can cost you around $30 per week, and that is not including trips to Starbucks in the mornings. There are people who set a $35 food budget weekly and survive off of that! 

Some people don’t cook because they have the luxury of not having to while others don’t cook because they don’t know how to cook… Well, in this day and age where you can use the internet for just about anything, not knowing how to cook is not an excuse anymore. With the simple tap of your finger, you have access to all kinds of recipes online! If you want to learn how to cook but not sure where to start, take a look at this simple Italian baked chicken recipe… this is a recipe that’s perfect for beginners in the kitchen. is a great site to check out delicious recipes that are heart-healthy and delicious but they also won’t break the bank either! 

Cancel Subscriptions You’re Not Using 

One of the biggest mistakes that people make is throwing money away on subscriptions they’re not using. A lot of people have gym memberships they don’t even use and are subscribed to things like make-up kits and meal boxes that they get too often to even be able to use everything. 

With the new year right around the corner, it’s pretty typical for people to join gyms and have $10-$100 taken out of their accounts every month just to maintain membership. They will be pretty consistent with going to the gym for the first few weeks. Some even remain consistent for a month or two but when the bad weather hits or life gets in the way, they let their consistency to work out fall by the wayside. In that, do you know what else falls by the wayside as well? Your money goes down the toilet. 

It’s one thing to be consistent and fall off track but then get back on track but it’s a completely different story when you fall off track and never cancel that subscription… that is hundreds of dollars going down the drain that could have been put to great use in other areas of your financial life. 

Get To Know Your Thermostat 

People spend lots of money on their electric bills each month, regardless of the season. In doing that, they’re also throwing money away. People feel like when it’s hot outside, it needs to be freezing cold in their house. Same thing when it’s cold outside, people think it needs to be extremely warm in their home. Well, the truth is, it doesn’t need to be as hot or cold in your home as you think. 

The main thing is to make your home vary in temperature from what it is outside. Before you leave to go to work, check the news to see what the high or low is supposed to be for the day. Once you know that temp, all you need to do is set your thermostat to be a few degrees above or below that temp. If it is summertime and it is supposed to reach a high of 95°, you can set your thermostat to 80°. You can even set it to 89° (assuming you don't have children and pets). Is that warm? Yes, but it is much cooler in comparison to 95°. 

When you come home from work, your home will feel ten times cooler than what it is outside and it’s not running your bill up all day. By the time you get home, you can then adjust the temp to whatever you want and it won’t take as long to cool off because it’s been cooling off all day. The same rule applies for winter. If it is 50° outside, set your thermostat to 60°… just so long as it is warmer in your home than it is outside and your body will adjust accordingly. Do what you need to do to cut costs without going to extremes. It's time to cut the costs creatively!

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