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Simple Ways to Lower Cost Of Living

During hard economic times, it is easy to feel the pinch when you are short on cash.

Prices seem much higher than ever, and the paycheck does not seem to cover as much as it used to.

Unfortunately, during these tough times, we all need to tighten the belt and lower our cost of living.

But that does not automatically mean that we can not enjoy our life.

Here are a few simple ways to lower cost of living:

1. Work on Eliminating Your Debt

Pay off small debts as quickly as possible, then work on larger debts until they are paid off.

Use only cash or check to pay for everything to avoid getting more in debt.

2. Earn Money from Your Debit Card

There are quite a few cash back debit card rewards programs that offer up to 2% back on purchases, e.g. PerkStreet Financial etc. Apply for one of these cards and you could save $50 or more every month.

3. Start Using Grocery Coupons

Coupons can make a great deal of difference when you are shopping for food.

Before you go grocery shopping always check your local newspapers for coupon inserts.

You can also find tons of coupons on the Internet. Check out the following article on websites for penny pinchers.

4. Find Bargains at Garage Sales and Thrift Stores

Today’s thrift stores are cashing in on the fact that a lot of us like to buy decent things for an inexpensive price.

Check your local Salvation Army or Goodwill stores, and also make sure to check out the Garage Sale section in your local paper on Friday evenings.

5. Carpool

Gas prices keep going up, and it’s becoming more and more expensive to own a car. 

It definitely makes sense to carpool with your family members, friends and/or co-workers. You can save a lot of money doing that: an average of $50-200 per month.

6. Review Your Car, Health and Home Owner’s Insurance Plans

A higher insurance deductible will mean lower payments.

Of course, if you have an accident, it will take a lot more of the expense directly out of your pocket at the time of repair.

You need to weigh your options when doing this and decide how much of a deductible you can actually afford.

Make sure you put the money you are saving into your emergency fund account and earn interest on it, instead of giving it away to your Insurance Company.

7. Get Free Movies and Video Games Online or Borrow Them From the Library

Instead of spending from $10-50 a month on renting movies from Blockbuster or Netflix, just get free movies on line on websites like,

Also visit your local library, and you’d be surprised to find a wide variety of DVDs on their shelves.

You can check these movies out for absolutely free!

8. Adjust Your Thermostat

Set your water heater temperature three or four degrees lower than it currently is.

You will never notice a huge amount of difference in your shower, but you will definitely notice a difference in your power or gas bill.

In winter, lower your furnace thermostat by two to four degrees, and during warmer months raise your air conditioner thermostat by two or more degrees.

The savings will surprise you. You could save $100-200 a month by doing that!

These money saving tips are just plain common sense.

Unfortunately, with our busy lifestyles, we forget  about a lot of things like that.

When you start changing your habits in the little things, they could add up to hundreds and thousands of savings in the long run.

Money Saving Tips:

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