Budget Cuts That Won’t Get You Down

The following is a guest post by Thomas Warren of  Go College.

It’s not news that our country is in a financial crisis; you’ve all been feeling the crunch. If you’re lucky, you still have a job that pays your mortgage and other monthly bills. Those less fortunate have suffered layoffs, foreclosures, and a job market without any real prospects. In any case, if you’re like most Americans, you’re facing the inevitability of making cuts to your personal budget, and it’s not a fun scenario. You work hard and deserve your extras! And this is where the trouble begins. You buy on impulse, because you’re trying to prove something, or because you feel you deserve it. It’s all emotional buying and it gets you into trouble. So when you begin to reform your budget, think about what you really need and then decide what extras you can afford. Here are a few cuts to get you started that will barely leave a mark.

1. Cut back on eating out. You really do spend a lot more money eating out than in. Sure, it’s hard to plan a week’s worth of meals before you go to the store. And dining out is a great way to socialize since you’re not stuck in the kitchen. But you can literally save more than half by eating at home. If you really need the company of friends, have a weekly pot luck. This will relieve you of some of the cooking duty and you won’t miss out on social hour.
2. Buy generic. You may think your name brand products are better, but the truth is, you’re paying twice as much for the label, because the product is almost certainly comparable. Cereals, canned goods, cheeses, and almost any products that have a grocery store brand are bound to be nearly identical to the name brand (for half the cost). And most stores offer even better discounts if you’re a club member. So pass by the Cheerios and grab a box of Toasted Oats instead.
3. Plant a garden. If you love fresh produce, it doesn’t get any better than going straight from the garden to the plate. If you live in a climate with a short growing season, extras can be canned, pickled, or made into jam for the winter months, saving you even more. Plus, gardening is good for the soul!
4. Skip the movies (in theaters and at home). For starters, you can get a month of Netflix for the same cost as one ticket at the theater and enjoy way more movies (delivered straight to your home, no less). And this personalized service will have new releases at the same time as those pricey cable channels, so you can dump the extra cost of HBO, Showtime, and whatever else you got talked into when you ordered your cable package. You will have to wait for new movies to leave theaters, but with all the money you save, you can invest in a boss flat screen.
5. Consider public transportation. Cars are expensive! And it doesn’t look like gas prices are going down any time soon. So consider listing your vehicle as non-op the next time your registration comes around and go for the bus or train instead. You’ll not only cut your budget, you’ll also help to cut back on pollution. Plus, you may find that you enjoy your daily commute a lot more when you can relax and read a magazine while someone else deals with gridlock. If you’re travelling close to home, think about getting in some exercise by biking or hiking it.

Thomas Warren is a content writer for Go College, one of the oldest and most trusted resources to guide students on how to finance and succeed in college.