10 Simple Ways to Cut Down Household Costs in This Economy

Staying far away from my home country, I don’t get a choice to watch TV programs in my native language hence CNN is a respite that keeps me updated with things at home & here. Thanks to the initiative programs & anchors, I am able to understand the situation of the economy. Before the news of the economy started appearing on TV, my knowledge about the share markets, mutual funds, economy at large was close to nil. But hearing about the down-hill sent shivers through my spine. It was only after the information from the channel, I got a little respite from the sudden shock that I got looking at the turbulence created in the economy. The loss of jobs all over the world made me feel helpless as if someone has slit my throat, even though I am not working at the moment.

I know most of you must be thinking – “This is old news. What is she going to talk right now?” Well, I don’t have anything contrasting to tell then what Mr. Obama has already said, or even the car companies have been saying, or the economists who want to talk about how to boost the economy. But I can surely share some tips with you all to save what little you can in your own household. As they rightly say – “Every drop of water adds to create the mighty ocean.”

So here I have some simple tips that can keep a check on your day-to-day spending as I do on mine…

1. Keep a check on your partying habits:

If you are addicted to parties, you are at a huge risk of loosing most of your money in hosting those to maintain your status amongst your social circle. My suggestion – get the habit to a complete halt. Just to maintain your status you are paying out of your savings. Sit down and calculate how much can you save by cutting down everyday parties or even minimizing them. Isn’t it a big number that can be a part of your savings? I bet you would want to keep it for a rainy day.

 2. Keep a check on eating out:

If you have the habit of frequently eating out, it not only affects your wallet, but also your health. Think for a minute how much money you first spend in eating the not-so-healthy food & then all the money that you spend on gyms & medications to keep away the problems. Would you like to be medicated to keep away the fat? What would be easier? Changing your habit now or the negative change in your health?