10 Easy Ways to Cut Your Expenses Now

Perhaps you've been steadily racking up debt, and you need to put an end to that cycle. Or maybe you can't remember the last time you added money to your savings account, and you realize you're way overdue. There are plenty of good reasons to start trimming your spending, and here are some easy ways to go about it.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

Sometimes, we don't realize how much we're spending on certain expenses until it's too late and the money is gone. One key step in cutting your spending is to understand where your money goes in the first place, and to that end, having a budget can really help. With a budget, you'll have your expenses all mapped out for you, so you'll be able to see which will be easiest to reduce.

Whether it's the gym you visit once a month or the streaming service you hardly ever watch, paying for expenses you rarely use is a solid waste of money. Comb through your credit card and bank statements to see what services you can cancel without feeling like you're missing out.

A lot of people are working from home these days, or spending more time in their houses or apartments. Therefore, your electricity bill may be climbing, but you can lower it by being more careful. Turn off lights when you leave the room, shut down your laptop overnight, and unplug kitchen appliances when they're not in use. A little mindfulness could result in lower utility costs.

If you're carrying a number of costly credit card balances, consolidating that debt could make it cheaper to pay off. One good solution may be a balance transfer, where you move your existing debts onto a single credit card with a lower interest rate on it. Some balance transfer cards also offer a generous 0% introductory period, which gives you a key opportunity to reap some savings.

When you grocery shop without a plan, you're more likely to buy things you don't need -- and spend extra on food for no good reason. A better solution is to plan out your meals each week, make a shopping list, and stick to it.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

Eating at restaurants may be a treat, but it's an expensive one. Restaurants tend to charge hefty markups so that a meal that would cost you $10 to make at home might cost $40 for the privilege of having it served by a waiter. By cutting back on restaurant meals, you can trim your spending and bank more money, and you may even find that dining out less is better for your health.

Credit cards may be convenient, but they open the door to impulse purchases. If you're eager to lower your spending, make a point to leave your credit cards at home when you shop, and stick to cash instead.

You can't deprive yourself of treats all the time, but you can occasionally force yourself not to spend so much as a dime. Try instituting a no-spend weekend once every month. During that time, you pledge not to shop, purchase entertainment, or order takeout. You can try variations on this idea, like a no-spend week or even a no-spend month, if you're feeling ambitious.

There's no need to spend a fortune to keep yourself occupied. You can reduce your spending substantially by seeking out free entertainment. Go take a hike on your day off, or gather with friends on a Saturday night and play board games (this may not be the safest bet during the coronavirus pandemic, but in general, it's a low-cost idea for a night out).

Many people browse online retailers when they're looking to unwind or fill their time. But online browsing can easily lead to online buying, so rather than tempt yourself, find other ways to combat boredom. Get into a new podcast or book series, or pledge to spend more time in the kitchen. Also, don't store your credit card details on your phone or laptop. That will make it more difficult to complete purchases.

Our credit card expert uses this card, and it could earn you $1,148 (seriously)
As long as you pay them off each month, credit cards are a no-brainer for savvy Americans. They protect against fraud far better than debit cards, help raise your credit score, and can put hundreds (or thousands!) of dollars in rewards back in your pocket each year.

But with so many cards out there, you need to choose wisely. This top-rated card offers the ability to pay 0% interest on purchases until late 2021, has some of the most generous cash back rewards we’ve ever seen (up to 5%!), and somehow still sports a $0 annual fee.

That’s why our expert – who has reviewed hundreds of cards – signed up for this one personally. Click here to get free access to our expert’s top pick.

Cutting expenses doesn't have to be painful, and the less you spend, the more security and flexibility you'll buy yourself. It pays to explore the different ways you can slash your spending and see what that does for your financial picture.