Reduce Costs to Save Money

When most people feel an economic pinch they turn right away to finding ways to cut expenses. If you have read much on this site you know already that I do not encourage that kind of thinking, but not because it isn’t important. The first thing a person needs to think about is how to get in control of spending—otherwise the end result of cutting expenses is little or nothing.

Once in control of our money, however, we will want to then learn to reduce expenses. Doing this can help us accelerate getting out of debt. Then it can help us increase savings and through our investments increase our income. This action step suggests using an affirmation to help shape our thinking so we will be motivated internally to take steps to reduce our ongoing expenses.

Here is an affirmation to say daily for at least a month and weekly until firmly adopted in practice. It relates to reducing expenses, remembering that any monthly obligation has the same confining restrictions as a debt.

“I have greater freedom every month because every month I find a new way to reduce my ongoing expenses.”

Of course you will want to reinforce this affirmation by taking active steps to put it into practice. Reducing expenses is an ongoing practice that requires constant awareness. Once it is established as a consistent attitude, it becomes an exciting adventure to find a new ways to reduce ongoing expenses.

New technologies regularly offer new opportunities for savings. Recently I read that the federal government expects to reduce its telephone expenses by forty percent over the next few years by switching to internet phone service. Care must be taken in choosing such services, but here is a great opportunity to save a lot of money. Many people simply eliminate land lines altogether. Often huge savings can be had by modifying cell phone plans to meet individual lifestyles.

Another potential area relates to insurance. Sometimes switching companies can be a good idea but even more often great savings can be had by eliminating policies that are no longer important. For example, life insurance needs change with age. Usually as we grow older we have adequate savings and fewer family responsibilites so we do not need the same coverage as in our younger years.

As you review this affirmation and establish a new way of thinking you will see a change in your life—as long as you have a commitment to avoid new entanglements. These reductions in expenses can make a real change in your financial circumstances. And you will begin to see a remarkable change in the way you feel about your success with money.

Don't forget. Our point in this step is to change our attitude so we will do these things. Use this affirmation to help mold your thinking in the direction of actions that will consistently reduce your monthly expenses.