Top Ten Tips to Minimize Daily Expenses

There are two things that you can do with money – spend it or save it for the future.  There is a limited amount of money that you can make, so if you give too much away, there won’t be enough to survive on in retirement.

This article lists ten simple and easy frugal ideas to help you create your personal strategy to minimize daily expenses.  At the heart of this topic is spending only what you must on items that you really need.   Do your best to avoid impulse purchases and frivolous expenditures, which can be wasteful activities and often lead to an accumulation of junk.   Impulse buying is harmful and one of the primary reasons for overspending.

It can be helpful to keep a monthly log to see where your money is going.  This can help you identify any possible money leaks and unnecessary purchases.  Think of how quickly your savings could grow if you redirected money spent on impulse purchases to saving for your retirement.

  1. Eat small meals – this saves money and is better for your health.
  2. Never pay full price! – If it is not on sale, don’t buy it. Eventually, all items will go on sale.
  3. Stock up on sale items – If an item typically goes on sale every 2 months, buy a 2 month’s supply.
  4. Use a thermos to keep coffee hot – This saves energy and the coffee will taste better by not sitting in the pot too long getting burnt.
  5. Smart heating – Leave the oven door open after cooking in the winter to warm the room.
  6. Save energy – Turn off the lights (and unwatched televisions!) in any room you are not occupying.
  7. Bundle up – Wear warmer clothes in the winter instead of turning up the heat.
  8. Live on less – Learn to live on 80% of your income, and if you get a raise, save the difference.
  9. Brown bag it – Eat breakfast and dinner at home and bing your own lunch to work.
  10. Walk more – Cut down on unnecessary driving. This will help with your overall health too which helps save even more money in the long run.


Frugal FactEvery $1.00 you spend today, gives you $1.00 in value.
Every $1.00 you invest can bring you $5.00 to $20.00 value and enjoyment in your retirement years.

Top Ten Tips to Minimize Daily Expenses

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