12 easy ways to cut down on daily expenses

Spending money on small expenses might seem insignificant, but in fact they are slowly draining bank accounts and racking up credit card bills. If a $10 a day latte habit seems minor, consider the expense of more than $3,600 per year. 

Making small, relatively painless changes can yield big savings. Here are a dozen ways to keep cash in your pocket with marginal sacrifice. 

  • Pay Cash – Make it a habit to pay for some expenses with cash and notice how quickly your money disappears. It will be a reminder to think twice before completing that nonessential purchase.
  • Brew your own coffee –If you skip the sugary syrups, you will save even more in dollars and pounds.
  • Cook meals at home –With the abundance of cooking shows, food magazines, online recipes, and menu planning options, you are one click away from a quick and easy meal.
  • Pack a lunch – By spending $5 to $10 each day on lunch, you are blowing as much as $50 a week on eating out, or $2,600 over the course of a year.
  • Wash and detail your own car –It’s great exercise!
  • adjust the thermostat before you leave home – Crank it back up or down when you return.
  • Dry clean sparingly – It’s not necessary to send your garments to the cleaners after every wear.
  • Go green – invest in a reusable water bottle
  • Take advantage of your local library –Often forgotten, it can be a great source for books, magazines and DVDs. 
  • Eliminate expenses for things that you can do yourself – Give yourself a manicure or trade manicures with a similarly budget-minded friend. Swap your pricey gym membership for a running group, a walk with a neighbour, or exercising at home to an online workout.
  • Shop around for a good rate – Consider transferring the balance to a card with a lower interest rate and no annual fees. Watch for deals on balance transfer offers and make sure to read the fine print.
  • Take higher deductibles on your auto insurance –You may be paying more than you need to, especially if you don’t file a lot of insurance claims.