Simple Tips to Cut Spending

Times are hard in this economy.  People are really trying to find ways to save money and "trim the fat" off their spending.  With Christmas around the corner, this post might be useful and it may be time to re-evaluate your daily spending.  This post was inspired by an article I just read in my November "All You" Magazine.  I have seen versions of this article several times before, usually right around the holidays when people are tight on money.  Here are some simple ways to save and consider what you're "effortlessly" spending. 

1.  Brown Bag It
Take your lunch to work or school.  It's easy to get into that rhythm where you go out to eat every day.  BELIEVE me I go there from time to time.  Sometimes it's easy to just want to get out of the office for lunch and take a break.  Some co-workers of mine and I have decided to try to limit ourselves to going out for lunch no more than 1/wk.  When we need to get out and don't always "like" what we bring for lunch, we take our lunches to a near by park instead of eating out.  We still get a nice break and a breath of fresh air but we don't have to pay a penny for it.  If you stop eating out say 3 times a wk @ $6 a meal and bring your lunch instead - you can save $18/wk, $72/month, or $864/yr!!!  That's some food for thought!
***AVG. SAVINGS: $18/wk, $72/month, $864/yr when taking your lunch 3x's/wk***

2.  Be Your OWN Barista
Coffee habits can be an expensive habit too!  I LOVE Starbucks iced white chocolate mocha more than ANY coffee drink.  But at $5 a pop, I can make my own thank you!  Even if you buy a special blend of coffee that is more expensive per bag, you still are probably cutting that part of your spending in half.  You can really get creative and buy your own flavored creamers and syrups and whip cream.  I love adding pumpkin spice to my coffee ALL year round since it's my favorite and NO other coffee shops have it anyways!  Freeze your left over coffee into ice cube trays and use it in your iced coffee so that it doesn't get watery!
***AVG. SAVINGS: $450 - $750/yr***

3.  No More Bottled Water
This not only saves you $ and trips to the store, but also is better for the environment.  As a hygienist, I don't like bottled water since the majority sold in stores does not contain fluoride in it.  Since fluoride aids in cavity prevention, this can also save you some bucks at the dentist also!  A couple of years ago we realized how much $ were we spending on bottled water and decided to invest in a Brita water pitcher.  Best decision ever!  We paid about $15-20 for ours (its large) and about every 4 months we have to replace the filter (for about $10-15 for a 3 pack buying 1 per yr).  Even if we don't replace the filters right away we still have good tasting, cold water for free!  There's also MIRs and coupons that can be found from time to time that make the smallest Brita pitcher free/almost free at Walmart!!!  They also have water filters that attach right on your facet or filtered water bottles. 
***AVG. SAVINGS = $365 per person/ yr when spending $1/day in bottled water***

4.  Cancel Your Home Phone
Unless you absolutely need this for business or other personal reasons, get rid of this!!!  There are so many other plans out there that allow you to talk on your cell phone unlimited during nights and weekends and free mobile to mobile minutes.  Companies like Skype and Magic Jack also offer very inexpensive calling rates with phone #s including in their plans. 
***AVG. SAVINGS = $43/month or $516/yr***

5.  Quit Smoking
So this is easier said than done.  I've never smoked but my husband and father are long time smokers that have struggled with this over the years.  But if you NEED to save $ - desperate times call for desperate measures.  Not only do you have to think about the money that is spent on the cigarettes alone, but the costs of medical bills and insurance premiums that can be associated with smoking as well. A couple of years ago my mom and step dad got really sick with the flu and both smoked at the time.  Since they were so sick, they didn't even think about smoking and it triggered them to try and quit for good.  Both of them quit within a couple of months and decided that they would put the $ they had been using to spending on cigarettes in a vacation fund to Mexico instead.  Well, lets just say they quit smoking for good and had the time of their lives in Mexico!  If you are a "light smoker" and smoke 3 packs a week @ $6.50/pack you could save an average of $19.50/wk, $78/month, or $936/yr.  Only YOU can know when YOU are ready to quit and when you are, set a financial goal with the $ you no longer spend on cigarettes towards something that is special to you and your goals.
***AVG SAVINGS: Minimum of $19.50/wk, $78/month, or $936/yr***

6.  Research You Bills
This can get time consuming but well worth the savings in the long run.  Research your options for auto insurance, electric companies, cell phone plans, credit cards, etc.  You might be pleasantly surprised with the money you could be saving with a simple phone call.  About 1-2 yr I call my credit card company and ask to negotiate my interest rate.  Sometimes they give me a promotional rate and sometimes it's another incentive.  Either way, I'm saving more $ than if I hadn't called at all.   I just changed our electricity plan and got a much lower rate than before by simply picking up the phone and discussing the different plans and saving options available to me. 
Here are some good websites to compare companies in your area:
http://www.whitefence.com
http://www.powertochoose.org/ (Texas residents only - for electric company rates)
***AVG. SAVINGS:  Varies***