Day 8: Cut Your Costs

We’re going to save you some money! Living beneath your means doesn’t mean ramen and Walmart, we swear. It does mean spending less than you make, and this might require cutting some excess fat.

Learn:

After yesterday, you have a budget. If you used the LV Budget Calculator, then you should know exactly how much you have left to spend at the end of a typical month. If you don’t love that number (which most people don’t!), then follow our steps below.

 

LV Challenge: We dare you to cut more than $50 from your monthly expenses!

VisitBillShrink to find ways to save on random expenses and bills, from gas to cell phones to credit cards. Action Time: 5 minutes Look through your expenses. Which are nonessential? Which can you cut? Can you save money on your beauty expenses? Groceries? Action Time: 5 minutes Cancel a subscription. If you never go to the gym, drop your membership. Vow to go to a restaurant one fewer time every month. Swap clothing with friends instead of your monthly shopping trip. Cut at least three expenses today. Calculate what you need to do to reduce your monthly expenses by more than $50. Action Time: 12 minutes Seek out ways to save creatively or make a bit more money. Consider the blog articles we’ve listed in today's Related Content. Action Time: 2 minutes Then do it!

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