How to reduce expenses?

[Imran_Noori]

Every individual have a monthly budgeting in which a portion belongs to expenses but sometimes these expenses increase because of several reasons, in order to reduce expenses you need to change some small habits in your life, for example stop buying luxury, start eating at home, use public transportation and don't buy coffee instead make it by yourself.

How to reduce expenses?

 

[Kennysplash]

Refrain from buying things that you don't really need and make sure that you are not living above your income. Your expenses should be way below your income.

 

[Imran_Noori]

Refrain from buying things that you don't really need and make sure that you are not living above your income. Your expenses should be way below your income.

I agree with you, this is a great way of having a stable finance, when you have lower expenses than your income, then you will definitely have enough money to invest or save.

 

[Robust]

Well it is not really easy to reduce the expenses of one because we do not know what might occur the next. The only way we can try to reduce expenses is by trying to reduce our finance plans.

 

[Abigael]

It is not so easy to reduce expenses. Especially since most of them are needs that you cannot do without. Why don't you focus on improving your earnings? Get a side hustle, learn a new skill online or start a business.

 

[Imran_Noori]

It is not so easy to reduce expenses. Especially since most of them are needs that you cannot do without. Why don't you focus on improving your earnings? Get a side hustle, learn a new skill online or start a business.

You are right, increasing earnings can be a great idea to have a stable finance but you can also reduce expenses by applying some changes in your life that I mentioned.

 

[Trey]

If you want to reduce expenses, you must be intentional about it. You must sit down and determine how much you earn a month and then equate it with your lifestyle . Evaluate sincerely if your lifestyle matches your income level.

When you do this sincerely, you wouid see where you need to adjust your lifestyle to save up finances.

 

[eenya001]

There are various ways of cutting down your expenses and one of those methods is to reduce your expenditures that keeps re occuring, it could be getting alternative to light etc.

 

[Kane]

You will have ti redesign your life in a way that you can live off with 90 percent of your income and save the remaining 10 percent of income. It does not matter how much you earn, what actually matters is how you spend money.

 

[Ernestnari]

I have come to realize that buying things in small quantities increases our daily expenses which translates ultimately to a high monthly expenses. If you can commit some reasonable amount of money and buy things in bulk, it would reduce our monthly expenses by reducing our daily expenses.

 

[Imran_Noori]

I have come to realize that buying things in small quantities increases our daily expenses which translates ultimately to a high monthly expenses. If you can commit some reasonable amount of money and buy things in bulk, it would reduce our monthly expenses by reducing our daily expenses.

You are right, sometimes it can be profitable to buy things in bulk but you need to pay attention that you are not buying more than you need because there will be items that may expire if you don't use them.

 

[Ernestnari]

You are right, sometimes it can be profitable to buy things in bulk but you need to pay attention that you are not buying more than you need because there will be items that may expire if you don't use them.

Generally, you buy foodstuff with long shelf life in bulk. And one thing I just discovered is that buying in bulk from a wholesaler is cheaper than retailing from a retailer. That's because the retailer would add up the price to make a profit.

 

[Kennysplash]

You can do that by not purchasing things you don't actually need. Also plan your income well so that you have something to save first before you start spending on your expenses.