Reduce Spending

During and after a divorce, most people find they need to reduce spending. Very few people are able to maintain the same lifestyle after their divorce as they had before. In addition to having less money to go around, there is the extra cost of the divorce itself; whether you hire a lawyer or decide to do your own divorce. The Bible tells us not to be greedy for things we don’t have but instead to be content with what we have and live within our means (Luke 12:15).

Now that you have completed your Journal of Daily Expenses and your budget, you can start identifying ways to reduce spending. If you have not already done so, download the free Journal of Daily Expenses or the printable PDF version to print off and complete by hand.

Let’s take a closer look each component of the journal and touch on some quick ways to cut spending right away.

Child Care during the day may not be easy to cut back if you work outside the home. However, for those evenings out, you could trade children with a friend or neighbor. You watch their children in your home one evening a week and vice versa giving you each an evening without kids with no out of pocket expenses. This could work during the day as well if you know someone who works opposite shifts than you work. Maybe you can think of others ways to barter for child care.

It also never hurts to inquire at your daycare, or with government offices to see if there are any daycare supplements available and if you qualify.

Coffee/Tea/Lattes – Oh how we love our hot beverages! If you are someone who regularly purchases a coffee or tea once or more a day, you may have been shocked to see how much you spend in a week on this one indulgence alone. Invest a couple of dollars in a travel mug, make your own coffee at home and take it with you.

Entertainment is another quick way to cut back. If you go to the movies, amusement parks, zoos, rent DVD’s or video games you have lots of room to cut back. Instead of renting movies, find out what movies your friends have and swap for a few days. You can also borrow some good movies for free from libraries.

If you are a regular at your local zoo, museum or amusement park, consider buying a season pass. Do the math and see how much money you can save. Same theory applies to sports, although season passes can be expensive. Maybe opting to watch varsity or high school teams would be a lower cost alternative to the pros but at the same time satisfying your passion for your favorite sport.

Gas and Transportation are a big expense for most people and one that seems to keep going up. If you drive your own vehicle to work every day by yourself, consider car pooling with others or even taking turns driving. Public transportation is a lower cost alternative to driving your own vehicle to work every day as well.

If you live close to your place of work, consider walking or riding a bicycle – costs you nothing out of your pocket and, as a bonus, is good exercise.

Gifts can easily eat away your spending money. Look at what you spend on average per gift now and make a decision to reduce that by half or even seventy five percent. This will take some thought and patience on your part to purchase gift items when they are on sale or buy less extravagant gifts than you normally would. People rarely remember what you gave them but they will remember that you cared. Boxing week sales and clearance sales are good opportunities to pick up gifts ahead time at deep discounts for people you regularly buy gifts for.

Keeping a few gifts on hand that you were able to pick up at a deep discount can help you avoid those last minute rush purchases for birthdays or events that come up. This is especially helpful if you have children. When they bring that birthday party invite home, you don't have to make a special trip to the mall to get a gift (which you likely would have to pay full price for), they simply choose something for the gifts you have on hand.

Another way to reduce spending on gifts is to make gifts or to give the gift of your time instead of purchasing gifts. Carving out some special one on one time for someone will often mean more to them than something you bought.

Groceries are one thing we cannot do without. There are many ways to reduce spending at the grocery store. Make a list of what you need and buy only what is on your list. Don’t shop when you are hungry, you will buy a lot more when shopping on an empty stomach. Don’t be afraid to use coupons – clip them from the paper, print them from the Internet or find them in the store.

Check the sales flyers and buy items you regular use when they come on sale. Some items I use all the time seem to come on sale every six to eight weeks. When they do, I buy enough to do me until they come on sale again. (Do this only if practical and you have a place to store it. Don’t buy large quantities of anything that will spoil before you get a chance to use it.)

Reduce spending by avoiding prepackaged food. Buy fresh ingredients and prepare your own. It is healthier and less expensive.

Hygiene can be a broad category including everything from haircuts to manicures and pedicures as well as product purchases. Look for less expensive brands of styling products that will do just as good a job.

Reduce spending by doing your own manicures and pedicures or going to a beauty school to have them done. Beauty Schools often charge reduced rates so their students get the experience they need to begin their career.

Try going to a less expensive hair salon instead of high end shops. You can also look for coupons and deals or check for loyalty programs that gives you a freebie after so many visits.

Laundry Costs - There are a few ways to reduce spending on laundry costs. Avoid buying anything that is dry clean only. Follow the directions on the labels for laundering – your clothing will last longer. Do larger, less frequent loads if possible. Hang your clothes to dry instead of drying them in a dryer.

Magazines and Newspapers can quickly add up in cost. Consider reading your favorite magazines and newspapers online instead of buying the print version. This is often cheaper or free and much better for the environment. Most libraries have copies of the daily newspapers for reading and often have several magazines as well. Libraries are great places to get your hands on some wonderful reading material for free. If you have kids that love books, the library is a playground full of adventures that are always new to them.

Restaurants - The easiest way to reduce spending at restaurants is to eat at home. Food prepared at home is healthier and less expensive. A little planning ahead can avoid those impulse purchases on the way home when you are trying to figure out what to have for supper.

A Crock-pot can be your best friend. Put a chicken, roast, soup or just about anything in it in the morning and when you come through the door at the end of the day, supper is ready and waiting for you.

If you can’t live without the occasional night out at a restaurant, don’t be afraid to look for specials, use coupons or eat at less expensive restaurants.

Snacks are a cash gobbler. Vending machines, snack bars and convenience stores can make cash disappear very easily – stay away from them! These items are overpriced because they are “convenient”.

Reduce spending by planning ahead. You and your children more than likely get hungry around the same times every day. When you leave home, take snacks with you. Keep a box of granola bars or a bag of apples in your car for just those times. Don’t forget beverages. If you plan to be away from home for more than an hour, someone is apt to get thirsty. Taking along a bottle or two of water that you bought in bulk is much less expensive than paying $3-$4 for sodas or bottled water on the road.

Savings is the one area where you should not cut your spending. If anything, it is wise to increase your savings so you have an emergency fund on hand should something unexpected come up down the road. Having a savings buffer will help you avoid having to incur debt.

With some concerted effort and some wise planning, you can easily reduce spending by hundreds or even thousands of a year. Cutting your spending can help you stay on budget and help free up money to reduce debt.

Have A Great Story About Reducing Spending?

Do you have a great idea for reducing spending? What has worked for you or not worked for you? Share it here and help others save some bucks!

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