Family & Consumer Science News
Trimming family expenses
By Terri Black County Extension Agent

We all feel helpless sometimes when we try to cut expenses. Seems no matter how hard we try to cut expenses, our "inner impulse" to spend money just cannot be controlled. There is, however, a quick and effective solution to this problem. To control these inner impulses to spend money, you need to know where your money goes. Go out and buy a notepad, the kind that fits easily into a pocket or purse. Write down all of your spending every day of the week at the end of the day, or better yet, as you spend.

After a week, sit down and look at where your money has gone. You will realize how much money you spend without thinking before buying. Identify items that are not really necessary or that you don't need to spend so much money on. Soon you will realize that small things like bringing your lunch to work, drinking coffee at home, or eating out less can really help cut back on your expenses.

Everyone is always looking for ways to trim expenses. Some people believe that cutting back on expenses is a difficult task, but it's as simple as one, two, three! First, target one or two expenses you want to reduce. Second, identify things you can do to reduce or eliminate unnecessary spending in the target areas. Third, start saving!

Here are a few ideas to get you started towards trimming unnecessary spending:

• Bring your lunch to work. You'll quickly realize how much money you've saved after one month of "brown bagging." Try putting yourself on a lunch budget and treat yourself one or two times per month instead of every day.

• Join a co-op or food buying club. Overspending on groceries is easy to do. You can save hundreds of dollars a year over regular supermarket prices by joining a co-op or food-buying club.

• Reduce your home utility bills. Pay attention to how you use energy at home. Turn off lights when you're out of the room. Be conservative with the thermostat. Check weather stripping to eliminate drafts. Consider air drying dishes and laundry.

• Use your public library. In addition to free reading materials, many libraries offer free or reduced price videos, audio tapes, CD-ROMs and children's games for rental.

• Use coupons. Clip newspaper, magazine and other print coupons and use them for brand-name items you would normally purchase. Avoid using coupons for items that you don't really need.

Source: Women's Institute for Financial Education