How to efficiently reduce living expenses?

To save money, important thing is to reduce living expenses that are unnecessary. Read more on how to reduce living expenses at home, at work and in business.

All individuals are always searching for how to reduce their living expenses so as to increase their savings and at the same time maintain good lifestyle they want. Read more for some effective ways on to how they can achieve to reduce their living expenses, maintain standard lifestyle and also increase savings.

What are living expenses

Living expenses can be categorized as primary and secondary. Primary living expenses include food, accommodation, electricity, water, home supplies, and clothing. Whereas there are secondary living expenses like education, medical facilities, entertainment.
Some living expenses like food, education, ,medical facilities are very difficult to reduce on. So below are few critical expenses where you have ways to reduce them.

How to reduce living expenses by saving more

Key is Save more so that you can spend more
Spending on savings like Mutual funds, pension funds, ULIP, Fixed deposits is not part of living expenses. It is rather boost to increase your income so as to meet your increased living expenses.
One must not consider spending on savings as living expenses.
Find out more on what, how and where to save below

Why to save

Save Early

How to reduce living expenses spent on accommodation

Living expenses on accommodation includes either installments of housing loan or rent charges.
As far as possible, try to minimize rent charges by selecting area which is well within your limits. For housing loan installments, always consider repayment of housing loan.
Interest you pay to banks can be saved and extra income can be generated on same if you save that after repayment of your housing loan.
People just see tax benefit and ignore the actual benefits of repayment of housing loan. Find out more on this in

Repaymnet of housing loan

How to reduce living expenses on electricity

Living expenses on electricity is very difficult to be reduced. Increasing rates per unit of energy used is increasing and being necessity you just cannot reduce using it.
Power saving devices is very useful in this case as they reduce amount of energy consumed to wherever it is installed. Look for more in

Power saving device to reduce lving expenses on electrictiy

How to reduce living expenses in business

As business is handled by more than one person, there must be some control on certain expenses like electricity, internet usage, perks etc and they must be kept at minimum
In most of businesses, Computers are widely used. So shutting down the computers will save unnecessary expenses on electricity. Also number of people required should be tried to kept at minimum.

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Author: DR.N.V. Srinivasa Rao09 Mar 2010 Member Level: Diamond   Points : 2

Living expenses can be reduced by following
1.Don't go outside for eating. The money we spent one person outside will be sufficient for minimum 4 members in the house with more hygiene and health.

2.Don't go for very costly branded items. Other than branded also will give more value for your money.

3.Minimize fuel consumption like,don't go for hot water, keep your gas stove in a little higher than sim.

4.Use public transport in stead of privaate transport.

5.Take only healthy food

6.Don't waste food.


Author: Pooja09 Mar 2010 Member Level: Bronze   Points : 0

Thanks for the useful tips Madhura! I hope I can follow them :)


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