15 Easy Ways You Can Reduce Your Expenses

Do you work hard for your money? Do you trade your precious time for money just so you can make ends meet? If, like so many hardworking Australian’s, you do, then you should make an effort to keep your hard earned cash in your own pocket and not someone else’s.

Most people assume that in order to have more money they need to earn more. Whilst of course this is true, a far simpler way of doing so is to cut down expenses.

Expenses are a reality in the world we live in, you can’t escape them, but you can drastically reduce them. Here are 15 easy ways that you can cut down your expenses today!

  1. Eat Take Away Less

Make a conscious effort to reduce the amount of take away food you buy. Whether it’s lunch everyday at work or dinner on a Friday or Saturday try and cut down eating out as it’s often overpriced. Meal planning can be an effective way of doing staying on top of your meals and reducing the need to eat out.

2. Reduce Driving

Whenever you drive anywhere your car is using up petrol which you pay for. Walking or riding can be a good alternative to driving that will allow you to use up less petrol. An extra bonus is that its healthy!

3. Pay in cash

Paying in cash is more likely to make you consider each purchase a little bit harder and stop you from impulse buying.

4. Shop Around for Better Deals on Bills

Electricity, water, gas, phone bill… Have you ever shopping around to see if you can better deals on some of your bills. It doesn’t have to be drastic but saving just a few dollars on a couple of different bills can add up to some nice savings.

5. Re-Evaluate Insurance

I am by absolutely no means saying you shouldn’t have insurance, but you should definitely evaluate the types of insurances you have. For example, when I was 19 I checked my super-annuation statement for the first time and realised I was automatically opted in for life insurance. At 19 with no one depending on me this was a waste of money.

6. Buy Second Hand

Anything that is second hand is likely to be significantly cheaper than something that is first hand. Second hand cars are a great example in which you can save a significant amount by not buying first hand. eBay & Gumtree are a couple of marketplaces that sell second hand items.

7. Reduce Takeaway Coffee

Its $3 a day it doesn’t matter does it? Well $3 a day for an entire year is $1,095. What if you’re a two coffee a day kind of person like I am. $2,190. Cutting back on takeaway coffees can be one of the easiest ways to save a few dollars which over a year can add up to a sizeable amount.

8. Track Your Expenses

Tracking your expenses can reveal exactly where your money is gong. Chances are there are probably a few areas where you are spending a little more than you thought. Seeing exactly how much money you are spending can allow you to tighten up going forward.

9. 24 Hour Purchase Rule

If you are planning to buy anything that is valued at more than $150, hold off, think about it overnight and make the final decision the next day. This will help prevent impulse buying and ensure you are thoughtfully spending your hard earned money.

10. Buy at reduced prices

If you keep your wits about you, you can always find ways to buy things at a reduced price. Discount codes, sales, you name it. If you look hard enough there will be a way to save a few bucks on an item that you want to purchase.

11. Reconsider Existing Subscriptions

Do you really need a Netflix, Stan, Disney+ & Foxtel account all at once? Reviewing your subscriptions and ensuring that you are only paying for services that you really want & regularly use can be a great way to cut down expenses.

12. Housing Costs
There are a few different ways you can reduce expenses in regards to housing. Firstly, you can weigh up the pros and cons of renting vs buying. You could move to a cheaper neighbourhood. Or you could move back in with your parents or a friend. Much like buying a car, housing costs can be significant so extra consideration should be given to this one!

13. Check bank statement

Every couple of months (if not every month), have a quick scan over your bank statement to see if your money is going where its supposed to . Countless times have I cancelled subscriptions only to realise that I had been paying for them for months unknowingly.

14. Drive a Fuel Efficient Car

Some cars are very fuel efficient. Some absolutely chew up petrol. When buying a new car you should strongly consider opting for a car that is fuel efficient. This can lead to great savings on petrol down the track. If you are thinking of buying a new car you can browse fuel efficient options at Carsales

15. Borrow Instead of Buy

How many times does a new idea pop into your head. You’re going to start going to the gym everyday. Build a shed. Start surfing. Instead of buying a brand new set of weight, tools or a surfboard, borrow them! The reason being is that many times 6 months down the track these items will end up sitting in a shed collecting dust.


Cutting down your expenses can be really easy. You don’t have to go all out, you can easily pick one or two suggesting from the above list and still make a difference! The best bit about cutting down your expenses using the above list is that it is easy to do, and you now have some spare money with that you can do whatever you want with.

If you live on a really tight budget already, you should check out this post on 9 Insanely Effective Tips to Live On a Tight Budget Comfortably.

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    1. Easy steps – clear and simple starting now ! especially the bills and the coffee ! i just looked at how much i spend on those things !!!


    Aussie FI
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