The Path to True Savings: Reducing your Everyday Expenditure

If you were to measure economic performance by the Dow Jones Industrial Average or the S & P 500, the U.S. would be entering a golden era of growth and development. These entities have reached record breaking heights in recent times, and created an economic outlook that  may not reflect the underlying financial condition in America.

In fact, the impressive statistics generated by the financial markets have created a distorted impression of the world’s leading economy. Far from being in the midst of growth, it continues to rebound from the great global recession that ended nearly four years ago. It is important that citizens recognize this fact, however, as otherwise there is a chance that they will return to the reckless spending habits of old and begin to live outside of their means.

Embracing Frugality in 2013: The Path to Diminishing Everyday Expenditure

The first step towards frugal living is appreciating where savings can be made, without taking drastic decisions that compromise the quality of your life. While many may look to refrain from big ticket purchases such as cars and holidays, this can be counter productive as it impacts on your lifestyle and has no real impact on your capacity to save money on a long term basis. A far more sensible strategy is to reduce the cost of everyday expenditure, as this will lead to incremental gains and create a more reliable source of savings. For example: -

Focus on Cutting the Cost of Food and Drink

The cost of food and drink is perhaps the most prohibitive, especially for large families whose income cannot keep up with the rising rates of inflation. This is the first area that you should target, and there are several techniques that you can use to ease your weekly financial burden. Firstly, you should make the most of online price comparison tools to compare the cost of food retailers, paying attention to both local and national providers. Once you have sourced an outlet that deliver excellent value for money, the next step is to reconsider your approach to food and the meals that you eat. The cost of purchasing separate ingredients and creating simple meals from scratch is far cheaper than purchasing ready made dishes, so you may need to prioritize cost and financial savings over convenience.

Get the Bets Deal on your Insurance Premiums

We cannot take anything for granted in this world, and it is important to protect your possessions against acts of theft, fire or negligence. Insurance premiums help us to achieve this, but they can also be costly and account for a combined annual sum that is prohibitive in the current climate. With home, auto and health insurance all key components of the typical household budget, citizens must strive hard to identify savings where possible. While combining several insurance policies under the guise of a single provider can help you to achieve discounts, for example, you should also look to negotiate with insurers and use individual offers as leverage to improve your standing. In addition to this, you should be willing to look beyond price comparison sites, as numerous market leaders are now striving to distinguish themselves by advertising primarily through their own, independent website.

Get Online and Utilize Promotional Codes

Many of us find time a valuable and stretched commodity in the modern age, and this makes the task to cutting costs particularly difficult. You can significantly ease the process by shopping online, however, as this provides you access to a host of instantly available tools and money saving resources. One of the most effective is the range of online coupon codes, which are offered by independent retail outlets and cover numerous product selections. By sourcing these codes, you can reduce the cost of important items such as groceries and household appliances, without being forced to neglect necessary purchases.