{"id":26559,"date":"2024-09-30T13:05:33","date_gmt":"2024-09-30T13:05:33","guid":{"rendered":"https:\/\/www.lendingstream.co.uk\/blog\/?p=26559"},"modified":"2024-09-30T13:05:34","modified_gmt":"2024-09-30T13:05:34","slug":"best-ways-to-cut-back-on-expenses","status":"publish","type":"post","link":"https:\/\/www.lendingstream.co.uk\/blog\/best-ways-to-cut-back-on-expenses\/","title":{"rendered":"4 Best Ways To Cut Back on Expenses In 2024"},"content":{"rendered":"\n<p>We\u2019d all love to spend less and save more, but how? Which expenses can you cut back on? You may feel stuck if you can\u2019t think of anything you\u2019d be happy to go without. While you may have some expenses you can\u2019t ignore, <strong>there are many ways to save money<\/strong>. There are things you can do to make your money work for you instead of running away from you.<\/p>\n\n\n\n<p>Here we\u2019ll look at what expenses you can cut out and what you can do to save money.<\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_72 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-67d78ceeda0a9\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-67d78ceeda0a9\"  aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/best-ways-to-cut-back-on-expenses\/#1_budget\" title=\"1. Budget!\">1. Budget!<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/best-ways-to-cut-back-on-expenses\/#2_track_your_spending\" title=\"2. Track Your Spending\">2. Track Your Spending<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/best-ways-to-cut-back-on-expenses\/#3_do_you_need_it_or_do_you_want_it\" title=\"3. Do You Need It, or Do You Want It?\">3. Do You Need It, or Do You Want It?<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/www.lendingstream.co.uk\/blog\/best-ways-to-cut-back-on-expenses\/#4_review_how_you_fund_your_lifestyle\" title=\"4. Review How You Fund Your Lifestyle\">4. Review How You Fund Your Lifestyle<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"1-budget\"><span class=\"ez-toc-section\" id=\"1_budget\"><\/span><strong>1. Budget!<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>You\u2019ve probably heard it before, but <a href=\"https:\/\/www.lendingstream.co.uk\/blog\/best-budgeting-tips\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.lendingstream.co.uk\/blog\/best-budgeting-tips\/\" rel=\"noreferrer noopener\"><strong>budgeting is where it all starts<\/strong><\/a>. You must write down all your outgoings. It\u2019s important that you know exactly what you need to cover each month. And don\u2019t forget to include any payments like car repairs that you don\u2019t pay monthly.<\/p>\n\n\n\n<p>Your essential household bills must be paid, but you\u2019re likely to have other payments that you could reduce. <strong>Review your finances<\/strong> to see where you could spend less. Look at any subscriptions and streaming services like Netflix that you pay for. Could you live without these services? If they\u2019re a big part of your life, look at ways of paying less for them.<\/p>\n\n\n\n<p>Your grocery bill is also something you could reduce. Buy supermarket branded items instead of the more recognised brands. Plan what you\u2019re going to eat each week. Make a list and stick to it. By doing this you\u2019re more likely to resist the temptation to buy more than you need.<\/p>\n\n\n\n<p>If you&#8217;ve got any spare cash left over in your budget, put it into savings or use it to <strong><a href=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-pay-off-a-loan-early\/\" target=\"_blank\" data-type=\"URL\" data-id=\"https:\/\/www.lendingstream.co.uk\/blog\/how-to-pay-off-a-loan-early\/\" rel=\"noreferrer noopener\">pay off any debts<\/a><\/strong>.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"2-track-your-spending\"><span class=\"ez-toc-section\" id=\"2_track_your_spending\"><\/span><strong>2. Track Your Spending<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Once you\u2019ve got your budget worked out, see how well you stick to it. Track your spending for a month. Take note of every penny you spend, then look at where you\u2019re going over your budget.<\/p>\n\n\n\n<p>Look back through your bank statements to see exactly where you spent your money. You\u2019ll soon see where you\u2019re overspending and which spending habits you need to change.<\/p>\n\n\n\n<p>If you find it difficult to resist the temptation to spend, try leaving your cards at home. By only taking out the cash you need you won\u2019t be able to spend more than the money you\u2019ve got. It might feel hard to begin with, but when you stop running out of money, you\u2019ll feel better for it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"3-do-you-need-it-or-do-you-want-it\"><span class=\"ez-toc-section\" id=\"3_do_you_need_it_or_do_you_want_it\"><\/span><strong>3. Do You Need It, or Do You Want It?<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Before you spend any money, always ask yourself if you really need it. If you don\u2019t need it, then don\u2019t buy it. You can start by looking at your budget. Against every item on your budget, note alongside it whether it\u2019s something you need, or just something you want.<\/p>\n\n\n\n<p>We\u2019d all like to have what we want, it helps to make us happy. But running out of money has the opposite effect on our happiness. So, before you go through a checkout, look at what you can take out. Remember, if you don\u2019t need it, don\u2019t buy it.<\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"4-review-how-you-fund-your-lifestyle\"><span class=\"ez-toc-section\" id=\"4_review_how_you_fund_your_lifestyle\"><\/span><strong>4. Review How You Fund Your Lifestyle<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p>Do you find yourself taking out <a href=\"https:\/\/www.lendingstream.co.uk\/loans\/short-term-loans\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>short terms loans<\/strong><\/a> or maxing out your credit card just to fund your lifestyle? If so, you need to change it. This reliance on borrowing simply to fund the life you wish you had means you\u2019re living beyond your means.<\/p>\n\n\n\n<p>The way to overcome this is to find ways that fulfil you that don&#8217;t lead you to taking out <a href=\"https:\/\/www.lendingstream.co.uk\/loans\/\" target=\"_blank\" rel=\"noreferrer noopener\"><strong>different types of loans<\/strong><\/a>. Look at things you\u2019re interested in or that you care about. Maybe do some free online courses on something you\u2019re interested in. Maybe there\u2019s a charity that means something to you who you could volunteer for. Doing this will not only help you feel good about yourself, but it\u2019ll distract you from spending.<\/p>\n\n\n\n<p>If going out with friends involves spending money, why not find alternative ways of spending time with them? Go on a walk together, pack a picnic and sit on beach. Do an activity together like painting or having a home spa day.<\/p>\n\n\n\n<p>You can still enjoy life without it having to cost you a fortune.<\/p>\n\n\n\n<p>As you can see, these are <strong>simple ways to cut back on your expenses<\/strong>. It doesn&#8217;t take much to change the way you manage your money. With any spare cash you end up with, put it straight into savings. When you take back control of your finances, you take back control of your life.<\/p>\n\n\n\n<p>By choosing to live a little more mindfully, cutting back doesn\u2019t have to feel hard, just different.<\/p>\n\n\n\n<p><strong>Disclaimer:<\/strong> Note that, we are not providing any financial advice. Our blogs are written for informational purposes only.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>We\u2019d all love to spend less and save more, but how? Which expenses can you cut back on? You may feel stuck if you can\u2019t think of anything you\u2019d be happy to go without. While you may have some expenses you can\u2019t ignore, there are many ways to save money. There are things you can [&hellip;]<\/p>\n","protected":false},"author":48,"featured_media":26560,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[139],"tags":[],"class_list":["post-26559","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money"],"_links":{"self":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/26559"}],"collection":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/users\/48"}],"replies":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/comments?post=26559"}],"version-history":[{"count":2,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/26559\/revisions"}],"predecessor-version":[{"id":28019,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/posts\/26559\/revisions\/28019"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media\/26560"}],"wp:attachment":[{"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/media?parent=26559"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/categories?post=26559"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.lendingstream.co.uk\/blog\/wp-json\/wp\/v2\/tags?post=26559"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}