According to recent data, most employees make less than $50,000 every year and live from paycheck to paycheck. These numbers are slightly higher for the families that have higher pay. So, when you live from one paycheck to the other, you have difficulty finding anything to cut from your tight budget.

Most of the time, people get hard time-saving money due to how they spend their earnings. But the good news is that there are various ways you can reduce your monthly expenses and save money.

Track Your Spending

This is usually the first step to reducing your monthly expenses. Money requires discipline when it comes to spending it. Ensure that you keep a record of all your spending. This way, you will be able to know where you can cut your expenses.

For this step to be practical, you will have to account for every dollar you use. Use a spreadsheet or notebook to record your expenditure. Doing this for a single month will give you the needed information for your next step.

Reduce the Expense By Smart Purchases

Reducing the home expense can significantly reduce the monthly expense. However, it can be achieved with proper planning and spending. In modern times, both traditional and smart home appliances have their importance, and most companies are developing smart and less power using devices each time. In that way, the power consumption and the expense can be reduced by selecting such devices.

Update Your Subscriptions

This is another easy way to reduce your monthly spending. Ensure that you cancel any magazines, memberships, or streaming services you are not using. If months have gone by without using these products or services, consider finding the cheapest versions. And if you loved watching the history channel on Roku, you can always re-subscribe when your money is not tight.

Email newsletters might not cost you a lot of money; however, they might tempt you to make unnecessary purchases, unsubscribe and sign up again later when you need them.

Use Cash Only

If you want to cut back on your spending, you will have to switch to cash. Doing this will allow you to account for every penny you use. And according to various studies, people tend to buy things on impulse when they use their credit cards. So, using cash only means that you can’t live above your wages.

To save more, ensure that all your bills, rent, and utilities are paid via automatic withdrawals. This way, you will be limiting the rest of your spending to cash only.

Make a Budget

Living on a budget might be difficult for many people. However, if you have a hard time controlling your spending, a budget will help you. Having a budget allows you to allocate every penny you earn to something constructive.

This means that you must have a very comprehensive budget that will specify how much you want to use and how much you want to save. However, if you cannot use the process of allocating every penny to a project, consider using the 50-30-20 rule.

This rule means that you will allocate fifty percent of your wages to your requirements, thirty percent to your needs, and twenty percent to savings.

As you can see, budgeting really does allow you to make savings and can include collecting and using vouchers and coupons, which can increase the savings further. Before making any purchases, make sure to search for good coupons like an Anova coupon to get the maximum benefits.

Freeze Your Credit Cards

When you are trying to save money by reducing your expenses, avoiding your credit cards will be necessary. However, you don’t have to get rid of all your credit cards; you will need to build a positive payment history to build good credit.

The best thing to do when you want to avoid temptation is freeze your card. You will have to freeze the card in a block of ice practically. This means you will have to wait for the ice to melt before using the card. You will then be able to think well about what you want to buy.


Don’t wait for a project to save money. Instead, start now by updating your subscriptions and watch movies for free, freeze your credit cards, make a budget, use cash only, and track your expenditure.

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