Smart Ways to Spend Less and Save More Money: 10 Steps

All of us spend money and we all would love to save as much as possible, here and there so that we have more money to spend.

Here are 10 steps to spend lesser and save more, without having to sacrifice much:

  1. Budget – This is the most important factor in keeping track of what you spend. Whether you want to reduce or not, knowing what you are spending on will make a big difference to both your priorities and your spending habit.
  2. Segregate – Next segregate your expenses as regular and rare. Your regular expenses list will enable you to know where most of your money is going on a regular basis. For ex- If you are regularly spending on parking or toll fees on your regular route, you can opt for a cheaper option by taking the monthly payment or subscription option. When you pay in bulk, you are bound to get some discount.
  3. Restrict Rarely – Next restrict the occurrences of the rare expenses. Since they are already rare, cutting back here will not really make a difference to your lifestyle.
  4. Alternatives – See for alternatives that can help you save more. Many products are sold by multiple brands at competitive prices. Choose the best one or try others.
  5. Coupons – Coupons like can really help you cut back on some expenses on a regular basis.
  6. Bulk Purchase – Items that you consume or use regularly can be bought in bulk to save a little. More the quantity, more the discount is likely to be.
  7. Offers – Look out for offers on products you buy regularly. When a good offer is on, buy and store in bulk.
  8. Plan Ahead – For expenses that are not related to your perishables or consumables, plan in advance. Anniversaries, birthdays and special occasions when planned and booked in advance can save some money.
  9. Prioritize – Some expenses are not avoidable. Prioritize your expenses and spend as and when you have more disposable income. This way, you get to save as well as spend without much strain.
  10. Get Help – Getting help from a professional or your spouse to help you budget your finances better will always bring in a fresh perspective. New ideas and methods can help in cutting back on expenses.