Hello from The Arc NW!

Today, I will be providing ways to decrease spending. Overspending often contributes to not having enough money to pay expenses or to save money and it is something that we can definitely control. People overspend in all kinds of ways that they are not aware of but tracking spending (which was the topic of a previous post) and making a conscious decision to decrease spending is something we all can do.

When you track your spending for a few weeks (2-4 weeks), you are able to see where you spend your money. Some people by a coffee latte every morning; others purchase lunch at a café daily for lunch; while others may pay for a gym membership that they rarely use. Below is a list of some ways to decrease spending. Perhaps you can begin to decrease your spending in some of these areas to free up money to help pay your bills and/or to start saving. Google, ways to decrease spending on the internet, for more ideas.

· Cancel any unused or rarely used memberships (gym membership, organization memberships, etc)

· Buy exercise bike or other equipment from resale/thrift store (only if you’re going to use it)

· Decrease cable package or cancel altogether and/or join Netflix, Hulu, or other less expensive option

· Call your cable company and ask for Customer Retention Dept. and inquire about discounts. Let them know you plan to cancel if they don’t give you a discount. This has worked for me every single time!

· Decrease fast-food dining to weekends or once weekly and/or prepare meals at home

· Have lunch that you prepared at home or use coupons

· Call utility companies to inquire about discounts that you may be eligible for or ask to be put on the budget plan

· Shop for clothing at resale/thrift stores for clothing (other than underwear)

· Shop off-season for clothing or shop sales rack (but don’t buy clothes you don’t need just because they’re on sale)

· Only carry cash when you shop…you can’t spend what you don’t have (This works for everybody) just don’t go back home, get more money and go back to the store

· Leave your credit cards/debit card at home before you go shopping

· Do your own nails or have a friend or family member give you a manicure or pedicure, rather than go to a spa (swap services so you both save money)

· Fantastic Sam salons usually offer haircuts much cheaper than other salons

· Get a style that only requires service every 6-8 weeks, like braids, extensions, or a short style

· Beauty/cosmetologist schools provide cuts, colors, and other services at a lower cost than salons

· Register with Groupons and buy basic hair service coupons (or other coupons) at a lower rate than if you walk into the salon

· Rather than use Uber or Lyft ask a family, friend, or neighbor for a ride. They will usually charge less.

· When grocery shopping; shop sales only, clip and use coupons, join discount cards, shop outer aisles, buy in-season produce, don’t shop when hungry and use a grocery list

· Shop at the Dollar Store/Dollar Tree where every single thing in the store is a dollar; not Dollar General or Family Dollar (most of their prices are over a dollar)

· When going to the movie theater, go to the matinee ($5) which is much cheaper than evening shows

· Eat before/after the movies because the food is absolutely too expensive (or take your own small bag of candy or chips…I’m just saying)

· Use a programmable thermostat (DTE offers a free Home Energy Consultation where they provide and install energy-efficient light bulbs, a programmable thermostat, and other home goodies).

· Reduce your utility use by turning off lights when not in the room, unplugging devices when not in use (with exception of frig and stove), closing blinds during hot weather

· Shop around for cheaper cell phone service, homeowner’s and auto insurance plan

· Make your beverages at home: brew your own coffee or tea at home, have homemade lemonade, drink cold faucet water

Use what you can from this list or come up with your own list of ways to decrease your spending, and then take the money you were once spending and use it to pay your bills and/or save it.

****The next workshop Spending and Saving is scheduled for Tuesday, September 28, 2021, at 6:00 pm. Please feel free to contact me to register for the next workshop. We would enjoy having you join us!

Stay tuned…. Be safe…. and…Be empowered.

 

Bettie Cunningham, LBSW

Disabilities Advocate/Certified Financial Coach/Counselor

Office: (313) 532-7915, ext. 204 Email: bcunningham@thearcnw.org