Cutting Your Spending To Cut Your Debts

If you’re struggling with debt, then it’s time to do something about it. Unless you start earning more money, which may not always be possible, it’s time to get saving. By cutting your spending, you can reduce your monthly outgoings and put that money aside to pay off your debts. There are several ways you can cut your spending that can help you to clear your debts that don’t involve going without. Read these top tips below and start cutting your debts today.

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Stop eating out

Eating out regularly can make a dent in your outgoings, and is a wasteful spend if you’re trying to reduce your debts. Instead of buying lunch every day at work, take some food from home. This is a great way to cut make significant savings over the course of the month, as well as allow you to plan healthier eating. If you rely on a takeaway coffee to get you through the morning, invest in an insulated travel mug and take a coffee from home instead. Doing this could save you $3-4 a day, which is a significant saving. Get some fantastic ideas for lunches you can bring to work with you in this great Huffington Post article that will give you plenty of inspiration.

Walk or cycle rather than drive or take cabs

It’s very easy to be reliant on your car to get you from A to B, and if you often grab an Uber or a cab instead of public transport – you’re wasting money you could be saving. Try walking or cycling to work and use public transport if you have a long commute. Taking the train or bus to work will mean that you can get some chores done while you travel. Each time you walk or cycle to your destination, put the money you would have spent on travel in a jar – you’ll soon find yourself with a nice pot of savings that you can use to help clear your debt.

Entertain at home rather than going out

Staying in is the new going out, it’s the age of Netflix after all! Rather than making plans to meet up with friends at a bar or a restaurant, why not take turns to have a get together at home? Sharing the cost of nibbles and a bottle of wine will cost you far less than going out, and you won’t have to worry about dressing up and buying a new outfit for the pleasure.

Use cash instead of your card

If you pay for things with cash rather than card, you’ll be far less willing to part with it. Debt relief solutions, like those discussed at, recommend that you avoid adding further debt to your balances. By using cash, you’ll find yourself paying off more each month than you are spending. You could also leave your cards at home and just carry the cash you need with you to help stop you from making impulse purchases.

If you want to find some ways of cutting your spending or make some money online, you’ll find some great tips on making savings here. Take charge of your debts by cutting your spending now.

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