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Wednesday, August 1, 2012

10 Daily Debt Reducers




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10 Daily Debt Reducers

Are you needing more money put back into your budget, but you just don't know where to cut costs" Here are 10 simple tips to help you reduce your monthly debt. They won't all be easy to do and you may not be able to do all of them at once, but if you can apply these 10 tips, then you will definitely see more money in your account at the end of each month.





  1. Drinking soda- If you have to have one or more soda drinks a day, think about lessening your consumption. If you really want to cut costs, cut soda out all together. Your body with thank you and so will your bank account.
  2. Eating Out- Eating out for each meal everydat really adds up. If you can cut out a few trips to a restaurant you will be surprised how much you can save each week.
  3. Cable/Satellite Packages- Okay, now you are probably thinking I am crazy, but if you can get a cheaper cable package or cut it all together this is more money you can put back into your budget. Would it be terrible to spend more time doing something else besides surfing hundreds of channels?
  4. Gym Membership- How often do you use that gym membership? If you think you can grab a friend and go running outside in the fresh air and lift a few weights at home, this may save you a big chunk of money each week. In the Summer you can hop on your bike and enjoy the outdoors.
  5. Cell Phone Plan- Cell phones are pretty much a necessity these days, and I am not asking you to get rid of it. But, do you need as big of a cell phone plan as you have? Can you do without a data plan and just use the internet at home? Trim down your monthly minutes and see how much money you can save each month just without talking as much.
  6. Electricity- Do you leave the lights on when you leave a room? Try keeping your house lights off during the day and keep them off if you aren't in the room. If you leave also turn down your air and make sure it's not running full blast when nobody is home. You can even turn it off at night, run fans and open windows if you are in a safe and quiet neighborhood. Paying less each month on your electricity bill will be a nice break.
  7. Store Brands/Sales- When going grocery shopping or buying other things you need, try only buying the things that are on sale or the cheapest. Typically store brands, (no-name brands) are cheapest, so go with those to shave pennies off your grocery bill.
  8. Buy Necessities- It is fun to stuff your cart with yummy treats at the grocery store, but if you can remember to buy what you need and leave the junk food out, your grocery bill will signigically shrink. This will take some will power, but you can do it! You can also make homemade treats instead to save some cash.
  9. DIY- Do you hire out when something breaks in your house or on your car? Try and looking it up on You Tube or on the internet to see if you could fix it yourself. Or, find a talented friend that can help you fix things for free or much cheaper than a handyman or car dealer. This can save a ton of money if you shop around or do it yourself.
  10. Carpool- If you have errands to run or you drive to work each day, try finding someone to carpool with and share the cost of gas. You can't be the only person you know going to work or to that particular store each week. Gas is expensive so this can really save you a lot of money.
Although these tips probably aren't anything new to you, hopefully they will inspire you to cut costs in your budget and put a little more money back into your account. Stay tuned in the weeks to come for debt challenges based around these tips to help you have more money at the end of each month!

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