Where to Cut Your Spending
If you are thinking about asking friends or family for money, the first thing you need to do is get your finances in order. Track your expenses and look for places you can cut spending. Some of the easiest places to cut excessive spending include:
Take-out coffee: Start brewing your own. One bag of coffee and creamer is going to cost you the same cost as 2 cups of coffee at a coffee house.
Restaurant dining and fast food: Cook cheap meals at home using ingredients like chicken, eggs and rice that are filling but inexpensive.
Phone plan: Shop around for a plan that trims your expenses each month. You may find a plan that will let you pay only for the data or minutes you need instead of unlimited.
Clearance and sales: Think you are saving money by hitting the clearance racks? Chances are, you are just buying things you don’t need. Make shopping lists and stick to your budget when shopping.
Coupons: Using coupons can save you money or help you spend more. Look for coupons on items you plan to purchase or things you buy regularly. Watch for opportunities to purchase cheaper generic options instead.
Entertainment: Movies, dates, shopping trips, games and other form of entertainment will add up quickly. Look for ways to enjoy yourself without spending money.
Smoking: The cost of smoking regularly adds up quickly. Calculate how much you spend on your smoking habit. You may find quitting is easier when it clears up your finances as well as your lungs.
Drinking: Alcohol can be pricey, but it is incredibly pricey when you are out. Avoid purchasing alcohol for dinner or at a bar. If you want to relax with a drink, do it at home. Chances are, you can buy a bottle of wine or a pack of beer for the same amount as you would spend on one drink in the bar. Soda is the same way.