How to reduce your personal expenses for better financials

[Nomad]

Whether you want to save money, invest money, build emergency funds, build retirement funds, or simply improve your financials, you will have to reduce your expenses. Reducing expenses involves a lot of things, but most importantly downgrading your lifestyle and cutting your spending significantly. This might involve moving to a cheaper location to save money on rent, eating vegetarian food to save money on meat products, or switching to more economical modes of transportation.

 

[aninditasen]

Whether you want to save money, invest money, build emergency funds, build retirement funds, or simply improve your financials, you will have to reduce your expenses. Reducing expenses involves a lot of things, but most importantly downgrading your lifestyle and cutting your spending significantly. This might involve moving to a cheaper location to save money on rent, eating vegetarian food to save money on meat products, or switching to more economical modes of transportation.

The ways of savings you have suggested doesn't apply to me. I have my own house and have to maintain it. Of course I take less non- veg. Where transportation is concerned I have to see my comfort as a senior citizen to avoid falling sick.

 

[Abiodun]

According to most country economy it is very important to make some adjustments in how we spend our income

 

[King Belieal]

You have to make sure you cut down on your eating frequency. You don't have to be eating three times a day anymore because the economy is so hard. You can reduce to two.

 

[Starmix]

I avoid myself dining in a resto, shopping in malls, driving for a walking distance, reduce stocking food, and more that generates savings because of self- control.

 

[deucher]

When I wanted to reduce my expenses, I was ready to do anything, but I would never start eating worse or simpler food to save money. For me, food is very important and I would like to eat only tasty food and in the quantities that the body can use

 

[Starmix]

We need to reduce our expenses as much as possible to be able to save. We reduce only usages of current. Refrain from buying clothes while you still have many unused. For food, just a minimal reduction because it's important.

 

[eLdavis]

In cases like this, a lot of sacrifices has to be made. The things you do not need that you always buy, you would have to cut them off to focus on just your needs.

 

[Starmix]

We need to sacrifice and do lots of discipline. Life is hard and the more harder if not put our plan to reduce expenses by heart.

 

[SHAHID987]

Reducing expenses are now required for survival. If we want to survive then we need to reduce our expenses. Just I have taken evening tea, so instead of taking 6 biscuits I just eat 3.

 

[Starmix]

I can't do it eating only tea and 3 biscuits. But if I try it why not. I like that idea. It's good to reduce expenditures and weight.

 

[freelancermaria]

I usually have two square meals per day - lunch and dinner. I do not go out often to try a new fast food chain or restaurant anymore. I do bulk buying and I take the time to compare prices to save some money.

 

[Stardom22]

I think this can be achieved through prioritising on the most basic and necessary items that we cannot live without them by eliminating of the luxuries.

 

[aninditasen]

Whether you want to save money, invest money, build emergency funds, build retirement funds, or simply improve your financials, you will have to reduce your expenses. Reducing expenses involves a lot of things, but most importantly downgrading your lifestyle and cutting your spending significantly. This might involve moving to a cheaper location to save money on rent, eating vegetarian food to save money on meat products, or switching to more economical modes of transportation.

I have my own house and have to maintain that house. I eat less of non- veg but I am old and can't use public transport.