As we near the end of year, many people are reflecting on the year that is almost gone and looking for newer and better ways of investing. To make better investments, one has to come up with ways to generate extra money and cutting down on household expenses should be the first step.

Many people are looking for ways to save more money and reduce expenses. These are steps that require sacrifice and discipline. They ponder on things like how to reduce transportation and insurance premiums among other things. What they do not realize is that the answer is right there in front of them.

In this article, we are going to discuss the various things you could do to save money, probably get out of debt and take control of your life.


  • Cutting down on electricity use


Electricity and other utility bills can be expensive.As such, individuals can come up with various ways of cutting down on their monthly electricity and gas expenses. The first step is to go looking for the best electricity deals in your state.

Other simple options include getting rid of normal halogen bulbs and purchasing energy efficient light bulbs. Also, switching them off while not in use and unplugging appliances that are on standby from the main switch us another way to save on electricity.

Air conditioners are, also, among the top list of appliances that use large quantities of electricity. As such, setting your thermostat a degree lower and using fans in hot weather to circulate air is a great way to bring down  electricity.


  • Cut back on phone bundles and internet services


We are in a digital world where the phone, television, and  Internet services are necessities. One can opt to pay for them separately or as a bundle.

It is for you as a consumer to figure out which plan works for your household. Take the time to look at your monthly bill because they may be full of cryptic messages. Then shop around for better deals from other service providers.


  • Avoid getting more pets


Pets are like babies; they require extra care and attention. Adopting a pet will cost roughly $50 to $100, and this is just the beginning. You need to feed it, take it to see the veterinarian often.

If you decide to treat your pet like royalty, other investments like buying it toys, getting a comfy bed for it, professional cleaning, and training will not come cheap. I am not saying that you throw your pet out; just have a few that you can comfortably take care of. 

If you have not yet gotten a pet and are thinking of it, it would be wise to hold the thought off until you are debt free or have saved enough.


  • Seek a debt with lower interest fees


The average American credit card holder has approximately a $16000 balance with an interest rate of 16.5%. Instead of throwing away hundred of dollars in paying interests, call your credit card company and ask for lower interest rates.