Financial tip of the day.com - FREEDOM THROUGH FINANCE
Social Sites
  • Financial Tip Of The Day
  • Books
  • Websites
  • Contact Us
  • Disclosure

Cost cutting plan for 2015

16/11/2014

0 Comments

 
Editor: Crass Cash
Picture
The end of 2014 is coming up to a rapid end.  Time to start looking forward to 2015 and to see what expenses can be cut and changed.  

When doing this it's best to classify expenses into two different categories: needs and wants.  Needs are things that you have to have.  Food, utilities, clothes, transportation, insurance, etc.  Wants are luxuries like going out to eat, entertainment, travel, gifts, alcohol, etc.  

However, within those categories adjustments can be made.  You can completely eliminate the wants.  You can also minimize the needs.  You need food, but that doesn't mean you get the artisan goat cheese log from Whole Foods.  It also doesn't mean that you need to eat crappy processed food in order to save a buck.  There are literally a thousand different websites and books that deal with nothing but how to eat healthily on a budget.  Same with clothes.  I shop at goodwill, but I buy my socks and underwear new.  I'm not budging on that either!  Yes I may look borderline homeless, but it keeps people from asking me for money.  If you pay $50 for a t-shirt, you're a dumbass! 

With that said, I'm going to go through my needs and wants to decide what to cut or minimize.  I've gone through what will be cut and here it is...  

Netflix - all entertainment will be from the library
Cable - I hate cable, but one of my roommates requires it.  If he leaves this year it will be disconnected for a savings of $20 a month. 
Cellphone - I think this is a need in today's world, but I can cut $20/month when my contract renews in January. 
Food - I plan to cut $25 off the grocery bill each month.
Entertainment - I have a list of 206 books to reach a huge video selection at the public library. 
Medical - My invisalign will be up, so that'll save a ton even with my health insurance going up.  

I figure all of these will allow me to shave an extra 5% off of next years budget.  What will you cut??

0 Comments



Leave a Reply.

    Author

    This website was created due to the atrociously misguided financial advice that I've heard over the decades.  Financial freedom is not intellectually strenuous, but it takes discipline. 

    RSS Feed

    Categories

    All
    BHAG UPDATE
    College Savings
    College Savings
    Credit
    Economics
    Estate Planning
    Estate Planning
    Financial Planning
    Financial Planning
    Insurance
    Investing
    INVESTMENT JOURNAL
    Mistakes
    Net Worth Update
    Retirement
    Tax
    Thrift

    Archives

    August 2017
    May 2017
    April 2017
    February 2017
    October 2016
    September 2016
    August 2016
    July 2016
    June 2016
    May 2016
    October 2015
    September 2015
    August 2015
    July 2015
    June 2015
    May 2015
    April 2015
    March 2015
    February 2015
    January 2015
    December 2014
    November 2014
    October 2014
    September 2014
    August 2014
    July 2014
    June 2014
    May 2014
    April 2014
    March 2014
    February 2014
    January 2014
    December 2013
    November 2013
    October 2013
    September 2013
    August 2013
    July 2013
    January 2011

Powered by Create your own unique website with customizable templates.