As consumers, we tend to purchase what we want rather than what we need. Money without discipline can lead to impulse buying which is an expensive habit. I will show you money-saving tips you can embrace to reduce your monthly expenses.

1. Cook Your Meals and Stop Eating Out

Learning to cook your meals will save money. Weekly meal plans will prevent you from exceeding the food budget. Eat out only on special occasions. If you are a mediocre cook, get some simple recipes and have fun trying them out.

2. Use Cash and Loyalty Points to Purchase

Credit and debit cards will tempt you to exceed the set budget. Using cash will prevent you from overspending. Most supermarkets and retailers have loyalty points plan for their customers. Accumulate the points and redeem them during your next shopping trip.

3. Buy a Filter for Your Tap and Forget Bottled Water

Buying bottled water is an avoidable expense. Buy a water filter and fix it at the kitchen tap to get safe and clean water. You can also use bottles to carry the water when visiting the salon/barber or taking a walk.

4. Downgrade Your Cable TV or Unsubscribe

You probably don’t get the time to watch your pay TV. Why not downgrade to a lower level or do away with the subscription. Watch TV on the internet which is cheaper.

5. Avoid Buying Items on Sale That You Do Not Need

Sometimes items on sale are the slow-moving goods which compete with the popular brands. If you don’t need what is offered on sale, please don’t buy.

6. Budget

A budget is merely an estimate of your planned expenditure against your income for a specified period. Stop spending money without planning for it. Create a list of what you need to spend on and stick to it. A budget identifies unnecessary expenditures which you can avoid.

7. Cancel Gym membership

You can buy work out equipment over time without stretching your finances and do away with the gym. Getting physically fit need not be expensive.

8. Phone Bills

Having both mobile and landline phones is expensive. Stick with the most convenient one and cut off the other. Trust me, and you will be saving yourself some cash.

9. Reduce Utility Bills

You can save on your electricity bill doing the following:
Opening windows during hot months instead of turning the A.C. on.
During cold months, keep the windows and doors closed instead of heating up.
Shorten your time in the shower.
Unplug electric appliances when they are not in use.
Do not leave taps on with water running and ran a bath only when necessary.

10. Slash the Entertainment Bill

Entertainment is a luxury, not a necessity. You can reduce how much you spend by taking up a new hobby or just spending less.

In the long run, it pays to evaluate your spending and improve on areas which blow your hard-earned cash. Little by little these tips become part of the daily routine rather than a punishment. Money saved can be invested, deposited to a savings account or used to offset debt.