Do you have to maintain the current standard of living? Do you want to cut down on living expenses and save the money for your retirement?
This article is written to help you to analyze your lifestyle. By knowing where your money goes to, you can take steps to cut down your living expenses without affecting your enjoyment of life.
The first step is to list down all your subscriptions and memberships to any organization or clubs. Do you have gym membership? Do you subscript to magazines that you hardly have time to browse, much less to read? Do you have club membership?
How often do you make use of the gym? How often do you play golf at the club? Can you do without all the memberships and subscriptions? Can you walk in nature park or the shopping mall instead of going to the gym?
By cutting down all the subscriptions and memberships that you hardly have time to enjoy, you can save money without feeling any loss of enjoyment.
The second step is to make a list of all the food and drinks you consume for the week.
Do you have the habit of eating sirloin steak three times a week? Can you substitute with cheaper meat like chicken chop? Can you cut down to twice a week instead? Are you able to choose a cheaper and healthier alternative for the meal to replace the sirloin steak?
Do you have a habit of drinking soft drinks every day? Can you cut down on the cans of soft drinks a week and drink tea or water? Making a cup of Chinese tea using the tea leaves is much cheaper than buying a can of soft drink.
Do you have the habit of eating pop corn or potato chips when you are watching TV? If so, are you able to enjoy the show without taking snack? If you cannot kick off the habit of eating snack, can you reduce the portion of the snack? Make your potato chips last for a few more evenings by eating a smaller portion for each evening.
Can you use less shampoo and less bathing cream when you take a shower? Can you use lesser water and take lesser time in the bathroom? Using less water to rinse should not make you feel dirtier.
Cutting down on living expenses is not difficult. You do need to know where your money goes to and critically analyze your living habits.
Whenever you are tempted to spend on a can of soft drink, please consider a cheaper alternative. Whenever you are tempted to sign up for the gym membership, please consider how much time you actually can spare to use the facilities.