How to Reduce or Eliminate Expenses: 22 ways

Posted on May 28, 2011 by Teri-E Belf, One of Thousands of Life Coaches on Noomii.

People’s values differ. Some think nothing of paying parking valets and taking taxicabs. Others drive around the block for a half an hour to find a parking space. Some enjoy flea markets and bargain basements looking for a sale. Others would never entertain the idea of buying seconds or used items. Where you choose to spend money indicates your values. Do not expect to follow all the ideas on this article so you can live a life without spending money. The intention is for you to examine your values and to choose to spend money consistent with those values. Everyone has a choice when it comes to spending money and you shall read 22 ways to handle common expenses.

Many people are trying to counteract financial uncertainty by setting. As a Coach I often hear clients bemoan mandatory expenses while creating their money goals. Here are some typical lamentations:
“I wish I didn’t have to spend so much money on rent.”
“My expenses are too high. I can’t afford that vacation I want.”
“Too much of my paycheck goes to food and car expenses.”

It is possible to have that vacation, and the car, and the rent absolutely free. You can choose to delete and/or minimize traditional expenses. These suggestions (all legitimate and legal) have been created and used by people who discovered these alternative ways for getting what they wanted without having to spend the usual amount of money. I have experimented with most of these ideas myself. They work! Here are 23 ways you can creatively begin to significantly reduce your expenses.

Rent or Mortgage

1. Have renters or boarders in your home so you can live rent or mortgage-free.

2. Some people would gladly let you live in their home free in exchange for a service they need that you are willing and able to provide, e.g., read to a blind person, clean house, do minor household repairs, provide daycare or babysitting for a working single parent.

Food

3. If you love to cook, offer to do the food shopping and preparation twice a week for a young couple with children, a senior citizen, or a bachelor or bachelorette in exchange for eating what you prepare free. This arrangement is worth it to those who would appreciate coming home to a wonderful home cooked meal instead of eating out or fast foods.

4. Create an ongoing monthly reading club and/OR host the orientation meetings for a group. Have these meetings (potluck, of course) in your home. Often those who contributed the food let you keep the leftovers and you can reduce your food bill by 60%.

Clothing

5. Visit consignment shops. You can get everything from silk blouses to tuxedos to baby clothes to furniture. Buy a three-piece suit even if the jacket is the only thing that fits. Consign back the other two pieces.

6. Host an accessories swap with friends and neighbors. It cleans out your wardrobe and brings refreshing new closet items for free. Go beyond accessories, include dresses, suits, sweaters, jackets and sports equipment.

Car

7. One of my clients was given a station wagon with gas, insurance and maintenance for 9 months free in exchange for driving special-needs children to and from school.

8. Attend police auctions where abandoned cars are sold at low prices.

Vacations

9. Many travel agencies let you travel free if you organize a charter vacation through them. Often only 10-12 people are needed.

10. House swap for a year with someone in another location or even another country or continent.

11. Ask moving companies and relocation firms to identify people who need someone to drive their car from one location to another. This is a fun way to go on a trip with free transportation. You might even get paid!

Entertainment

12. Volunteer as an usher for a symphony or theater series and see performances free.

13. Sponsor a budding young artist and invite friends over.

Personal Development

14. If you want to take a program, offer to (a) evaluate the program by giving the facilitators’ feedback (b) assist with logistics such as scoring tests or instruments or © tape them for their public relations file in exchange for letting you sit in or audit free.

15. Offer to market the program you want to attend and get a discount or, even better, a referral fee and a free participation.

Childcare

16. Seek out an older, retired person, from a retirement home or community or church, who would love to be an inexpensive nanny for your child in simple exchange for the love, joy and companionship your child naturally offers.

17. Advertise in a school that has an early childhood education program for someone who would like to do an internship or project involving spending time with your child in exchange for school credit.

Personal Care

18. Become a distributor for a product you love (cosmetics, personal care, water filtration, etc.). Most give you discounts.

Furniture and Equipment

19. Identify high mobility areas that have military and political transition populations, academic sabbaticals, frequent company relocations (such as in the hospitality industry) and offer to store and use the furniture, piano etc. with tender loving care for people while the family is away.

20. Governments have auctions for their old surplus business equipment.

Miscellaneous

21. If you find yourself splurging in a particular store (anything from outdoor hiking gear to ladies lingerie), get a part-time job there and you may be eligible for sizable discounts.

22. Search if Freecycle is in your neighborhood or community and if not, create one. Your castaways are posted on www.freecycle.com for free and claimed and picked up for free by people who live around you. It is so easy and I have had 100% success so far.

From now on you can begin to spend money on what you truly want instead of on what you think you must. Be clear about your values and consciously CHOOSE where you spend your money.