Expense Reduction Tips

Utilities

• Turn down your heat or turn up your air conditioning when you leave your house for the day. If you have a programmable thermostat use it to reduce the amount of time your heater and air conditioner are running.
• Raise your thermostat in the summer and lower it in the winter by a few degrees.
• Ask your utility companies if they offer a free home energy audit to find where you can save money on electric and gas usage.
• Check with each of your utility providers to see if they offer a metered or averaged plan. Many utilities are willing to work with you to help lower your costs.

Ideas to save money on telephone expenses

• Look for a lower price on a cell plan. Ask your cell phone service provider to help find a plan that fits your usage.
• Do you have a landline and a cell phone? Consider using your cell phone at home and eliminating the landline.
• Consider switching to a voice over IP (VOIP) plan that will allow you to make calls from your computer/internet.
• Ask your cable or internet or telephone provider about bundling your services. You can often save significant amounts of money by bundling.
• If you make a lot of long-distance calls, ask about an unlimited long distance plan.

Ideas to save money on electricity bills

• Unplug appliances that you aren’t using.
• Turning off lights when you don’t need them is good for your budget and the environment. Don’t forget to turn them off when you leave a room.
• Unplug your cell phone and other electronic gadgets as soon as they are fully charged to avoid wasting electricity.
• Use compact fluorescent light bulbs (CFLs) in rooms where the lights are on for more than 15 minutes.
• When light bulbs burn out replace them with CFLs or the new generation LED bulbs.

Ideas to save money on other utility and household expenses

• Avoid those extra charges! Making every effort to pay your bills on time will help avoid late fees and penalties.
• Ask your cable or satellite company about a reduced television plan—maybe you can get by with fewer channels.
• If you have high-speed internet service you can check with your provider and see if they offer reduced bandwidth at a lower cost.
• Local governments and some utility providers often offer financial incentives if you install insulation, new energy-saving windows, or energy saver appliances.
• Some cities offer discounted garbage pickup for older residents.

Food

Ideas to save money when grocery shopping

• Use coupons and plan ahead to take advantage of in-store specials. Almost every store has a copy of the weekly specials near the entrance.
• Buy more fresh foods and fewer prepared food products. Prepared foods usually cost more per serving than cooking for yourself.
• Shopping when you’re hungry or haven’t eaten is a sure way to end up buying more than you need and spending more than you planned. Be sure to eat before going to the grocery store.
• Generic products are often a great way to save on food costs.
• Buying in bulk can help save money. Just be sure that you’re buying what you’ll use. Throwing unused food away doesn’t save money. The average American family of four throws away about $1,600 worth of food in a year.
• Using cash when you go grocery shopping can help you stick to your budget – consider a quick stop at the ATM before you go to the grocery store.
• Some grocery stores offer older shoppers discounts of up to 10%. Local and regional chains and co-ops are more likely to offer discounts than national chains.
• Avoid the packaged food in the middle of the store and shop the perimeter. Fresh produce, dairy foods, and bulk grains are cheaper (and often more nutritious).
• Most supermarket products go on sale every three months, and brand-name coupons appear quarterly. Those are the best times to stock up.

Ideas to lower your food expenses

• Eat out less often. If you eat most of your meals in restaurants, you can save a lot of money by eating at home or making your own food and taking it with you to work.
• Forget those fancy coffee shops, you can save money by making your own coffee.
• Did you know that people who plan their meals for the week and shop for the items on the menu can save more money than people that shop without a plan?
• Produce is often less expensive when it’s grown locally. If there’s a farmer’s market near you try buying your produce there.
• Shop for food once a week instead of going every few days to avoid impulse spending.
• Join neighbors and start a community garden to save money on produce.

Medical

Ideas to save money on prescription drugs

• Pharmaceutical companies often offer assistance if you are unable to afford your prescriptions—talk with them about options.
• Some pharmacies offer discount prescription plans. Buy your prescription drugs at low-price warehouse stores such as Costco and Sam’s Club. You don’t have to be a member to use the pharmacy.
• Talk with your doctor about using generic medication. Generics are often less expensive than name brands.

Ideas for lowering medical expenses

• If you have large out-of-pocket medical expenses, maybe you can increase your medical coverage for a net annual savings.
• If you are in good health and don’t use your insurance very much, maybe you can increase your deductible and decrease your premiums. 
• If you anticipate increased medical expenses, talk with your insurance company about increasing your coverage.
• Make changes to your lifestyle that will help reduce your medical costs.
• Have regular check-ups and make sure you are following the advice of your doctor – your body and wallet will thank you in the long run.
• If you don’t have health insurance look at findahealthcenter.hrsa.gov to locate a federally-funded health care center that provides medical and dental care with sliding-scale fees based on your ability to pay.
• Contact a local dental school or nidcr.nih.gov to get information about free or low-cost dental care.

TRANSPORTATION

Ideas to save money on gasoline

• You might be able to make your ride to and from work more enjoyable and save money. Consider talking with your co-workers about carpooling together.
• Rather than run several errands a week, try to get as many as you can done in one day. Not only will it save you money on gas, but it will also save you time in the long run.
• If your local grocery store or warehouse store offers gasoline, you could save some money by using your reward/club card when you get gas.

Ideas to save money on vehicle purchases

• When it’s time for a new car, think about buying used. Just be sure to have it checked out by a good mechanic before you make your purchase. Used vehicles often are a good alternative to a new car.
• Some cities now have car-sharing – an alternative to owning or renting a car. If you live in an area that has that option, consider looking into it so that you can save the expense of owning a car.
• Before purchasing a new car, decide if you can keep your current one a little longer. You could end up saving a lot of money.

Ideas to save money on transportation expenses

• Taking your car in for regular maintenance will save on costly repair bills in the long run.
• Biking not only saves money but it helps the environment. Consider biking to work or to run errands if that’s an option for you.
• Public transportation is an option for many people, if you live in an area that provides it, consider using it to get to and from work or when running errands, or even when visiting friends.