A community-oriented approach with a progressive editorial stance, striving for transparency and encouraging readers to consider multiple perspectives.

Friday, June 20, 2025
booked.netCall us at 613-935-3763
Eco-conscious : Print an issue, plant a tree! 

No products in the cart.

  • About
    • Contributors
    • Disclaimers
    • Terms & Conditions
    • Giving back
    • Mission Statement
    • Past Issues
    • Where to Find
    • Call us at 613-935-3763
The Seeker - Positively Local, Suporting Local
  • Home
  • News
  • The Soapbox
  • Columnists
  • Events
  • Advertise!
    • Online
    • In Print
  • Puzzles
  • Videos
Seeker
No Result
View All Result

5 Tips for Cutting Your Expenses

The Seeker by The Seeker
November 9, 2021
in This May Also Interest You
Reading Time: 3 mins read
0
person putting coin in a piggy bank

Photo by Joslyn Pickens on Pexels.com

Are your debts piling up? Do you have to look for a side hustle to sustain yourself? Often, it’s not how much money you earn, but how you spend it. For this reason, you should figure out ways to reduce your spending and save more to reach your long-term financial goals. Here are a few tips to drastically reduce your expenses and have a massive impact on your finances.

1.    Track your spending

The first step to reducing your expenditure is evaluating how you spend your money. This helps determine the areas you spend your money and where you need to cut your expenses.

You might also like

What to Consider Before Starting a Home Renovation

Multi-hyphenating in Canadian Indie Filmmaking: Insights from Toronto-based Film Producer Bardya Ziaian

Toronto Weddings on Wheels: How Luxury Limousines Are Changing the Game for Modern Couples

When you keep track of your spending, you realize that you spend cash on things you do not need. You can easily plan on ways to forego your wants, spend on your needs and save.

To keep track of your spending, use budgeting apps, spreadsheets, or notebooks. Remember to write down everything you spend your money on, regardless of how minor you think it is.

2.    Create a budget

While living on a budget may not be appealing, it is an effective way of keeping your spending under control. To make a budget, you should:

  • Determine your monthly income
  • Evaluate how much you spend on fixed monthly bills such as rent, insurance, and utilities, to mention a few
  • Determine the basic needs, including food, gas, and health expenses
  • Make a plan on how to spend your income, then save the rest

Alternatively, you could use the 50-30-20 budgeting approach. This means that you spend 50% of your earnings on basic expenses such as food, insurance, and utilities, 30% on wants, such as entertainment, then save 20%.

3.    Opt for cheaper insurance

Insurance provides an effective way to protect yourself against unanticipated risks. But you do not have to spend a fortune on your insurance plan. If you pay for the car and home insurance, you should look for a company that bundles them at cheaper rates.

You should select a company that offers the cheapest car insurance rates for your auto machines, especially when you have a safe driving record or an inexpensive car. Some insurance companies will even lower your rates if your vehicle has safety features!

You could also consider raising your deductible. Often, the higher the deductible, especially on auto insurance, the lower the monthly premiums.

4.    Reduce your utility costs

While you cannot do without some utilities, such as water and electricity, you can find ways to lower the bills.

  • Use timers or power strips to turn electric devices on and off
  • Repair leaks
  • Use a programmable thermostat for the cooling and heating system
  • Use LED lighting
  • Consider upfront payments

5.    Freeze your credit cards

The easiest way to stop impulse purchases is through freezing your credit cards. A credit card makes resisting the urge to purchase something you do not necessarily need difficult, especially when you don’t have cash in hand. This results in credit card debt which can be challenging to settle.

Develop methods to make your credit card less convenient, including leaving it at home instead of carrying it around or requesting your credit providers to freeze the card for you.

Endnote

The key to reducing your expenses, avoiding bad debts, and saving more is developing financial discipline. You could establish financial discipline by keeping track of your spending, starting a budget, shopping for cheaper insurance, and reducing your utility bills.

The Seeker

The Seeker

Next Post
Joe Wilderness Seeks High Peaks

Joe Wilderness Seeks High Peaks

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Categories

  • Business & Finances (15)
  • Columns (626)
    • Archived (115)
      • Filter-Free Zone (9)
      • For What it's Worth (37)
      • Fostering Change (2)
      • Memo from the Mayor (2)
      • Men Writes (26)
      • Mortgage Tips (1)
      • Seeker Snippets (22)
      • Take Note (6)
      • Which Witch is Witch? (10)
    • Current (389)
      • Appreciating Contemporary Art (2)
      • Discover SD&G (36)
      • Fashionably Marlene (13)
      • From Sharyn's Pantry (7)
      • Gardening – Ask Anna (27)
      • Grant Spills the Gravy (10)
      • Jay's Tech & Cyber Insights (4)
      • Keeping it Reel (27)
      • Local Spins from Bud's Records (9)
      • Louise Mignault (58)
      • Mental Health Matters (10)
      • Out and About (51)
      • Outdoor Club (23)
      • Reality Bytes (8)
      • roadSIGNS (31)
      • Smart Move with Sondra (3)
      • The Resilient Life (5)
      • Transition Cornwall+ (16)
      • What I'm Reading (2)
      • Wondrous Life (33)
      • Yafa Arts & Craft (21)
    • Friends of the Cline House (1)
  • Douris Deliberations (6)
  • Events (1)
  • Health & Fitness (10)
  • Home & Garden (11)
  • Interviews (156)
    • 5 questions with… (106)
    • Business Profiles (1)
    • Locals in the Loupe (47)
  • Leisure & Lifestyle (736)
  • News (2,566)
    • Ontario (1)
  • Politics (24)
    • Federal Elections (10)
    • Provincial Elections (10)
  • Science & Technology (46)
  • Sports (3)
  • The Adventures of D.B Cooper (1)
  • The Soapbox (259)
    • Agree to Disagree (114)
  • This May Also Interest You (1,574)
  • Travel (52)
  • You May Also Like (969)
Facebook Twitter Instagram Youtube TikTok
Don't miss anything!

Get notified of all our new news by ringing the bell at the bottom left corner!

Content Safety

HERO

theseeker.ca

Trustworthy

Approved by Sur.ly

2024
Disclaimers
Stock Photos partially provided by our partner Depositphotos
The Seeker Newspaper is located at 327 Second Street E., Cornwall, ON K6H 1Y8 -- All rights reserved
The Seeker does not accept responsibility for errors, misprints or inaccuracies published within.Please note that the views and opinions expressed in news article are solely those of the authors and do not necessarily reflect the official policy or position of The Seeker. The content provided is for informational purposes only and has been written from the authors’ perspective, aiming to engage and inform readers. The Seeker is committed to presenting a wide range of viewpoints and encourages readers to conduct their own research and exercise critical thinking when considering these opinions in the context of their own perspectives.
ISSN 2562-1750 (Print)

ISSN 2562-1769 (Online)
No Result
View All Result
  • Home
  • News
  • The Soapbox
  • Columnists
  • Events
  • Advertise!
    • Online
    • In Print
  • Puzzles
  • Videos

© 2023 Reducing our footprint!   For every issue we print, we plant a tree!

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.