Everyone entails weekly spending, this is a necessity in life. However it’s what specifically people are spending their money on which can become a cause for concern. If you are consistently spending money on unnecessary luxuries and avoiding paying your mandatory bills, this can develop into a huge financial problem. Many people overlook their expenses and continue about their way, unknowingly their expenses are building and eventually they will increase into a significant amount. If you aren’t cautious with your daily or weekly spending and you have established debts, you should stop excess spending and re-evaluate what is more important. Here are 5 ways people can reduce their weekly spending.
Bulk Buy Food
Many people don’t bulk buy their food and this eventually becomes a costly occurrence. If you tend to buy lunch at work every day and dine in at restaurants every night, this equates to a considerable amount that could simply be avoided by buying bulk food at the supermarket. Once you have purchased your bulk food, you can simply prepare your own lunches and cook your own dinners at home. This will potentially save you up to $200 a week.
Use Discount Vouchers
When going about your daily activities, you should try and utilise as many shopper dockets or discount vouchers as possible. Many people are concerned about using discounts as it may make them appear cheap. However service providers promote these offers to increase their customer base. They will ultimately be making more money through the additional customers, so don’t be afraid of requesting or using any distributed discounts. Once added up over time, the savings could be a considerable amount.
No matter where you are, you will come across many temptations. Think about the strategic location of all the goodies in the supermarket. They are all placed at the cash register where you are waiting to have your groceries packed and billed. This is a marketing tactic that is designed to encourage consumers to buy those specific products. Do you give in to temptation? Try and avoid any of the continuous tempters that you will come across on a daily basis.
Avoid Going Out on Weekends
Most people love their Friday afternoon drinks and continue on into the night with their colleagues or friends. If this is you on a weekly basis, you may want to consider reducing the amount of time and money spent on drinking. You could still potentially go out, however can you avoid spending money on drinks? This is yet another temptation. It may be worthwhile to reduce your weekly spending on drinking and attending bars and clubs.
Consolidate Your Loans
If you have several loans which you consistently pay off, you should consider seeking assistance on consolidation loans from a reputable company, such as Fox Symes. They provide an abundance of assistance and suitable alternatives to help get you on track with your outstanding debts. Ultimately, you will save money from paying off one final account in which all your other individual accounts were rolled into. With debt consolidation loans, the amount being paid back on a weekly or monthly basis should be slightly lower than originally.
There you have it, 5 simple ways to help reduce your weekly spending. This should put you on track to saving money and paying off your debts faster!
Michael is a Finaance and Budgeting Writer from Brisbane, Australia. He says that most people are spending thousands of dollars more than they need to, and says that these five tips are great for cutting your expenses immediately.