How to Cut Household Expenses

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To cut household expenses, keep credit card balances low, use a lower grade of gasoline, take public transportation and grocery shop more frugally. Buy the store brands at the grocery store to cut back expenses with tips from a registered financial consultant in this free video on money management.

Part of the Video Series: Money Management
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Video Transcript

This is financial adviser Patrick Munro talking about how to cut household expenses. In a recessionary time many people look at their overall budgets if they have one and they realize that the money is not coming in as much as it did in the boom times. The first place to look at saving money to bring things back into balance is to cut household expenses. And the way to do that of course is to look at your first items that are variable in nature. Try to keep credit card balances low and consolidate credit card balances so that you don't have multiple payments to make. This will help you to cut back on household expenses. You can also use a lower grade of gasoline in your automobile, or even better. Take public transportation or perhaps even exercising, walk to your destination. This will save you on the cost of fuel which is of course a household expense as well. You can also grocery shop more frugally and buy the store brands instead of the deluxe brands and certainly consider eating out at restaurants less. This is Patrick Munro, financial adviser talking about how to cur household expenses.


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