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7 Expenses You Can Cut
Save a little dough by cutting these budget-draining expenses

Saving money can be difficult, but it can often be as simple as cutting certain things or activities from your daily life. Save money by cutting the following suggested money drains from your budget.

Premade food

Bankrate points out that one of the places people waste money the most is their grocery bill. Rather than buying convenience foods, go for unprepared foods like raw veggies and meats and make your meals from scratch. To save even more money, make your meat last longer by bulking up portions of rice and pasta and reducing your portions of meat — or by eliminating meat entirely from several meals. By doing this, Bankrate says a family of four could save $240 per month on groceries.


Cable has long been the king of living room entertainment. According to U.S. News and World Report, the average cable bill runs around $80 a month, making it an area ripe for reduction. If you only watch a couple shows, shelling out for hundreds of channels could be entirely unnecessary. You can easily and cheaply replace your cable service with show-streaming services like Hulu or Netflix using just your internet connection.

Takeout coffee

It can be tempting to grab a cup of joe at a coffee shop to start your day. But, according to Lifehack, dropping that takeaway coffee and making some for yourself before you leave the house could easily save $80 per month.

Expensive entertainment

The Balance points the cost-cutting-crosshairs at money spent purely for entertainment. More specifically, it suggests renting movies rather than seeing them in theaters, enjoying free concerts rather than paid ones and checking out books at the library rather than buying them.

Eating out

There is a reason eating out is so attractive. It’s simple, convenient and could potentially offer nicer food than what you keep in your fridge. That convenience, according to U.S. News, comes at a high price when compared to cooking at home. You can save big by cooking up large dishes on the weekend, freezing them and eating portions of them during the week.

The night out at the bar

Going out for a night at a bar is fun, but buying drinks can be detrimental to a limited budget. Lifehack suggests habitual bar-goers should cut back or even try going alcohol-free for a month to see how much money they save.

Calling in the workers

The Balance points out that one major drain on a household budget is calling plumbers and other highly-paid people to maintain your house. Instead, the article suggests learning to perform some of those maintenance duties yourself, reducing pricey service calls (although if any project makes you uneasy, you should still call in the experts).

Cutting expenses can be a good and easy way to save money, and the items and service you can cut certainly aren’t limited to this list. For any expense, ask yourself if you need it or if you just want it. The answer could save you a good deal of money.


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Published by Lenco Credit Union
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Disclaimer - All content contained in this newsletter is for informational purposes only and should not be relied upon to make any financial, accounting, tax, legal or other related decisions. Each person must consider his or her objectives, risk tolerances and level of comfort when making financial decisions and should consult a competent professional advisor prior to making any such decisions. Any opinions expressed through the content in this newsletter are the opinions of the particular author only.  

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