More For Your Money - University of Illinois Extension

Cutting Expenses

If you have to cut back more on expenses,

  • Go on a spending diet.  Don’t buy what you don’t need or can’t afford.
  • Go on a credit diet.  Don’t get any more credit and don’t use your credit cards.

Another way to spend less is to look carefully at how you spend money.  Even spending small amounts can add up fast.  

Click on Saving Money When You Don’t Have a Dime to Spare to see how this might work.  Using the chart, put in the price of the items that you buy.  Then, multiply the price of the item by how often you buy the item.  For example, one soda a day at $1.00 a soda adds up to $365 a year.  If you can cut back or do without, you can save a lot of money! You can use the money saved to pay bills or buy what you need.

Story To Share

A woman felt she deserved gourmet coffee from the local coffee shop three times a day.  At $4.00 a cup, that was $12.00/day.  When she looked at how much she was actually spending on coffee every day, she decided she could make her own coffee at home. She purchased the special creamers and took a thermos to work.  By doing this, she saved enough money to buy a monthly bus pass!

Share your stories…

What have you done to save money? (Click in white box to edit)