My top 5 expenses and how I reduce them!

Everyone has expenses. Some small and some large. Today I am going to share what my top 5 expenses are and steps I have taken to reduce them as much as I can. This idea came when I was looking at Quicken and asking myself: What do I spend the most on and why? Can it be reduced?

The answer is almost always yes but I am sure some of you are looking for ideas that you may not have thought of. I am also looking for ideas that I have not thought of as well. That is the more difficult part. Nonetheless I will share my strategies and ideas and hope I find more along the way!

My top 5 expenses are:

1. Housing
2. Food
3. Insurance
4. Utilities
5. Entertainment

I am sure that most of you will find that at least 3 of these items are in your top 5 as well. Housing is usually everyone's top expense. Food and Insurance are also commonly big budget items.

Here are my methods for cutting these expenses:

1. Housing - I currently rent out 2 spare rooms in my house to cover my mortgage. Other options include refinancing the mortgage to a lower rate, keeping up with routine maintenance, shopping around (for renters) when leases come due, and getting roommates in a bigger place.
2. Food - Food is expensive. I use the grocery game to save on my weekly food stockpiling using coupons. I look up recipes that use cheaper items for tasty meals. I cook in bulk and freeze a big portion of it for later. I try to eat more veggies and less meat.
3. Insurance - Insurance can be cheap or expensive. The best bet is to read up on what types of insurance you need and shop around thoroughly. Contact 5 companies for each type and comparison shop. One trick is to find the lowest auto insurance rate and get the rest of your insurance from the same company with a multi-line discount. Auto is almost always the most expensive insurance!
4. Utilities - I have gotten these very low. I use CFL bulbs in all lights. I turn lights on only when I am in the room. I use more fans and less air conditioning. I use a programmable thermostat. I made a habit of only having faucets on when I need water that second. I turned my water heater down 5 degrees. It adds up!
5. Entertainment - This budget item can be small if you don't go out or huge if you go out all the time. I like going out so I combat this as much as I can. I use sites such as groupon, half off depot, living social, scoutmob, etc. I also use reward points for gift cards and local coupons. The entertainment book is another option for local establishments. This can add up fast too!

Aside from raising your income cutting your major expenses as much as possible is a great way t get ahead financially. I am constantly evaluating looking for ways to keep my expenses low and savings high. I am on a mission to be financially free as soon as possible!

Remodel Finished: Now the work begins!

I am declaring that my home remodel is complete. The appraisal has been done. I am processing my new loan, and I have stopped spending 90% of every weekend working on my house. I am able to relax a bit and enjoy a little free time. Now the real work begins!

Since I have a finished house I can start to focus on a lot of other things on the list. My decoration is essentially nonexistent, I have a ton of basic household items on my "need" list, and I still need to fully unpack and organize things.

Here is a shortened version of what I need to do next:

• Move my unpacked boxes into the rooms in which they belong (or storage area)
• Unpack and sort the items in each box appropriately
• Get rid of stuff I no longer need
  
• Shop at thrift stores, garage sales, and flea markets for needed furnishings
• Make my house a home!

I definitely have my work cut out for me. It also requires a good bit of money which I don't have at the moment. My plan is to get things little by little until I have all that I need. The most important part is to not get further into debt due to impatience!

Coupon deals this week

This week I got a couple great coupon deals. I plan on doing more regular posts like this to share the extremely good deals that I find online and utilize. I am always on the lookout for great deals that save me money.

Here is what I found this week:

• FREE TGI Friday's frozen potato skins at Walgreen's (after printable coupon at coupon cravings)
• FREE Scotch-Brite sponge at WalMart (after printable coupon at coupon cravings)
• $1.99 cooked rotisserie chicken at Kroger (after $2 off eCoupon loaded onto Kroger card at Kroger.com)

This stuff adds up! I used to think coupons were a hassle and not worth the time or effort. I now utilize them, the grocery game, coupon cravings, and my own research to save me hundreds per year. Every coupon I use efficiently is more money for savings and debt reduction!

Eat Healtheir and Cheaper: Farmer's Markets

This is a fairly well known fact but some may not know so I decided to post it here. Your local Farmer's Market has very fresh and also very cheap food. Often times a lot cheaper and better than your grocery store.

I go to one here in Atlanta and the cost of the produce is well under half of Kroger or Publix. The added bonus is that it is also a lot better quality too! Doing this also helps to force you to eat fresh foods instead of processed and you end up eating healthier. I find that I enjoy salads more when they are made from fresher ingredients.

Another bonus is they have foods from all over the world that you may not find or cost a fortune at the grocery store. My local one has great wines I cannot find anywhere else and specialty meats that are either hard to find, not as good, or even a lot more expensive elsewhere.

Bottom line is that you should at least go for some of your food and compare receipts. I am sure that you will be pleased with the cost AND quality of the food you eat.