How I Cut My Spending in Half and Save an Extra $1000+ a Month!

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I know I know, cutting your spending is never fun and the title sounds too good to be true. Well, guess what guys, it CAN be done! I’m doing it right now and will continue to stay on this path.
First and foremost, this is not a quick saving scheme that will inflate your piggy bank.
This is more of a lifestyle, something you will need to embrace and adapt to.
I sat down and analyzed all my spending and all my bills and see what was eating my wallet away.
I’m a visual kind of guy and this definitely opened my eyes. 
What I discovered was my credit card….oh mister CHASE FREEDOM!
I’ll be open and honest with you guys; my credit card bill was a whopping $1600-2000 per month!!
Like what the hell was I spending it on?!

Seriously…I felt like I was just throwing my money away as I was paying my credit card bill.
One purchase after another and after another would lead to that UNIMAGINABLE amount.
Let’s break this crap down further…
As you can see from that lovely rudimentary graph, my spending has been dropping and it took a huge dip in March.
Why? How? BECAUSE I started using that noggin of mine and have more awareness of what I’m buying and do I really need that?

1. Hosting a game night/ have a small get-together

Instead of going out and spending $5-8 per drink and buying food, we came up with ways to save money by doing this from the comfort of our home or our friend’s.
Everything is usually BYOB (bring your own beer), so not one person is heavily spending on all the drinks and snacks.
This helps everyone save! There are tons of board games or stuff you can download on your phone for this occasion.

2. Cooking with your friends or significant other

First of all, this is one of my favorite things about saving.
I enjoy cooking (& eating) and spending time with my friends/wife. So this is a win-win for me!
Instead of going out to restaurants and having to worry about making reservations, this can be a laid back and do whatever you want kind of mentality.
Everyone pitches in and gets supplies and we cook!
It is that simple. You eat and drink and you spend way less than you would at your average restaurants.

3. Budget date night

This is where your creativity gets some attention.
We all know that going out on dates can be quite expensive. There is the dinner, then the movie, and whatever fun activities you have planned for this special day.
Going on dates don’t have to put a hole in your wallet; you just have to be smart about it.
Some of my favorite things to do:

  • Local movie theater discounts ($5/person on Tuesday)
  • Bowling (cheaper on certain days)
  • Hiking/Biking/Exploring
  • Whatever Groupon offers!

Groupon is a GREAT source for cheaply discounted vouchers for various fun things to do locally. I’ve purchased things in advance and redeem it at a later date.

4. Putting more into my investments

The title should be pretty self-explanatory.
You put your money where it can make you more money.
I decided to up my 401K contribution and also contribute a lot more towards my other long-term investments.
I’m looking out for myself in about 10-20 years. He’ll thank me later 🙂
I can provide more information on this in my later posts. I have a lot of knowledge that I would love to share.

5. Carrying cash

My one good friend told me this. “I only carry like $20 to the bar with me, so when I’m done with that I know when to leave”.
But that’s a great idea; if you only have cash on you then you won’t have the impulse and urges to spend more.
Using a credit card will only give you more reasons to buy more drinks.
You have to budget smarter – these small but effective changes are the simple things that help you spend less.

Well, this is it! My secret haha…my trick…whatever you want to call it. But it works for me and as a result; I’ve saved well over $1000 for the month!
So being frugal doesn’t mean you have to give up everything and not live your life. You just have to be more conscious of your decisions. Maybe you can add your own twists to this.

What have you done to save?

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