How Do You Cut Costs?

[PepsiFree]

We've had a few money related threads which to me (especially because of the economy) makes a lot of sense.

I've been thinking a lot lately about cutting costs.

You need certain things to live and work but whether it's the bigger stuff like shopping around and making sure you're getting cost-effective insurance, or the super small stuff like deciding on whether you need that real Maple Syrup, or if Aunt Jemima will do, there are seems to be a lot of ways to live happily and comfortably on a budget.

So: What are some of the things you do to cut costs or save a buck here and there?

I thought it might be interesting and relevant to see how people fit their lifestyle into their budget.

[nik-]

I finally dropped cable.

I switched to Black Tar heroin instead of China white.

Lentils ... lentils are cheap as hell and provide great calories and nutrition. I make them as I would a pot of spaghetti. Boil them and mix them with pasta sauce and ground turkey.

[rbochan]

I live on bananas, trail mix, fish, and whatever I grow in my garden.

[GGG]

- no eating out
- cutting out refined products from the grocery store
- cutting out alcohol

Those items are all also really good for health too. It's amazing how much you save at a grocery store only buying the outside aisles.

- don't buy premium fruit (berries, nuts etc)

- Reducing cable packages / switching cable companies once a year helps optimize that spend.
- reviewing phone plan options by analysing / reducing data usage.
- get rid of bank fees

[Hockeyguy15]

I stopped lighting my Cohiba's with $100 bills, now I only use $50's.

Also I now drink Malk.

Spoiler!

[Muta]

Drink water instead pretty much anything else. While it sounds terrible, it's the best and healthiest way to stay hydrated. Juices, pops, sodas, mixed drinks... not good for your health or your wallet. Plus, most people don't drink the required eight glasses of water a day, so by focusing on water you're going to accomplish that real quick.

For food in general, eat only a fist-sized portion of food for any meal. Not only is this healthier as stuffing your face constantly makes you gain weight (duh), but it's easier on the wallet as your ingredients get spread out a bit longer.

Also, toothpaste - all the patents on whitening technologies and all that stuff recently expired, which means virtually all companies are now using them regardless of brand. The $1.99 stuff does just as well as the $4.99 stuff.

[undercoverbrother]

Originally Posted by Muta

. Plus, most people don't drink the required eight glasses of water a day,

http://www.nytimes.com/2015/08/25/up...-day.html?_r=0




FYI

[Winsor_Pilates]

I'm terrible at cutting costs; but if I was going to eating & drinking out would be where most of my wasted money goes.

[Fuzz]

Downgrade from second rate hookers to third rate. Crack is almost as good as cocaine, and much cheaper, as well.

[Looch City]

Live with parents.

[Huntingwhale]

- Dropped cable and bought a Kodi device to watch tv shows. Will be getting GC when hockey season starts instead of playing for cable

- Dropped Telus and went with Koodo. Even though Telus owns them, my cell bill was cut in half for pretty much the same service. In fact I can't really think of any good reason for anyone to not go with Koodo

- I work downtown and I park in lots that are outside of the core. A 15 minutes walk to my car is worth it to save an extra $60-$80/month in parking

- Make my lunch most days instead of eating out

- Switched over from Telus internet to Shaw's promo plan

- When I go out with friends I offer to be DD so I only have 1 drink. Meet at my place, get a ride to the venue. When I leave, come with me and take a taxi from my house

- When washing shirts with graphics on the front, fold them inside out. It increases the lifespan of you shirts so you don't have to buy as often

- I drive a 4 cylinder car and can get about 700km per tank. No need for a gas guzzling SUV/truck

[Kybosh]

My two biggest things lately were 1) giving up my parking spot downtown and taking the train 2) finally agreeing to let my employee pay for my cellphone. I had a el cheapo beltline spot for $250/month but that's still a lot of cash for parking and gas each month. I still have to drive once in a while, but I figure I'm saving at least $200/month with this now. Similarly, I used to carry two phones like a drug dealer (one business, one personal) but I finally got over that.

My two next targets are cable or media consumption and better food budgeting.

[Looch City]

- No-fee banking
- MB/SK cellphone plan
- Setting price limits for shirts/pants/clothing necessities (<$50 dress shirts, <$60 pants, <$20 t-shirts)

[Swift]

Originally Posted by Kybosh

2) finally agreeing to let my employee pay for my cellphone.

That guy's got a ####ty job.

[Regulator75]

Pack a lunch.

[Muta]

Originally Posted by undercoverbrother

http://www.nytimes.com/2015/08/25/up...-day.html?_r=0




FYI

Point still stands, water is the best fluid for you and most people don't drink enough daily.

[CroFlames]

Funny how the guy who started the Buying A Truck thread now started a thread about cutting costs.

Ha ha ha.

[Hack&Lube]

Hardest thing to give up is a little extra to buy food while at work. I will still go out and buy lunch two or three times a week.

The easiest thing to give up is entertainment and uneccessary personal purchases:

No Cable - $40/month
No SiriusXM - $20/month
No Movies - $20/month
No Eating at Restaurants - $200/month
No Videogames - $60/month
Don't buy new clothes - $120/month
Don't drive - walk or bike in the summer - $90/month

I cut all these things out as much as possible and saves up to $7000/year.

[mrkajz44]

Food and drink is the most obvious - eating out is probably one of the easiest things to cut down on doing, and is one of the biggest money savers. That goes for lunches as well as dinner.

My other thought is to take good care of your stuff. Long run gains from this is huge in my opinion. You don't always need the "shiny new toy" if whatever you had was taken care of and still works fine (mostly thinking electronics here).

[undercoverbrother]

Originally Posted by Muta

Point still stands, water is the best fluid for you and most people don't drink enough daily.

I don't disagree, in fact drinking water is good for your wallet and your waist, but there isn't a need to drink 8 glasses a day.