One of the basic rules when you’re trimming down extra debt is to keep your expenses below your monthly income. Because majority of one’s expenses goes to basic necessities such as food and groceries, this is sometimes easier said than done. Still, here are a few tips that can help you cut costs on your daily expenses and reduce debt.
Cook your own food
While it’s not wrong to treat yourself out every once in a while, making it a habit can be dangerous not only to your health but to your budget as well. Cooking your own meals on the other hand is healthier, cheaper, and does offer more variety.
Plan your meals ahead
Planning your meals ahead not only helps you save money, but also aids you in preparing a healthy meal that your family would surely love. In addition, if you plan your meals before hitting the stores, you are sure to buy only what you need and avoid overspending.
Limit grocery trips
This is also linked to meal planning. If you plan your meals ahead and have a list of items ready, you can buy everything that you need in one visit. On the other hand, if you have no plans made during your grocery visit, you might forget some things and you would need to come back, which increases your risk of buying other unplanned items.
We all know how easy it is to grab items when you’re using a plastic card. Shopping with a credit card will tempt you to drop your limits and you can go overboard. If you brought cash, on the other hand, you’ll be extra careful not to exceed your allocated food budget.
Buy in bulk
Bulk buying when on sale can save you a lot of money for items which you already eat and use. This can also help limit your grocery visits as your stock is kept full. However, make sure you only buy those that you actually need and be careful about perishable goods.
Pack your meals at work
There are three benefits with packing your meals at work. First, you are sure never to go hungry as you have your food ready with you. Second, you don’t have to worry about how the food is prepared, and you can bring whatever suits your taste. Third, this is far cheaper than ordering your meals or eating out. You may also want to skip your morning coffee shop rituals, at least until you’re back at your feet and your debt problem is settled.
Throw parties at home
If weekend parties are a commitment that you cannot give up entirely, why not throw a party at your place instead? No one said that you have to isolate yourself from your friends when you’re cost-cutting. Instead of watching movies at theaters or going to the bar, preparing your own popcorn and drinks would give you a better price for enjoyment.