9 Ways to Cut Your Monthly Expenses

Cutting your monthly expenses is an art. With so many diffferent bills coming in each month, you can find it tough to make any progress on your savings & investment goals.

One of the most common complains I hear is that people don’t have enough money to invest. Their bills are too high and it eats up all of their monthly income.

So this article shows you 50 simple ways to drastically cut your monthly expenses and boost your savings rate. This post is broken down into different sections along with actionable tips you can use.

Use the table of contents below to jump to any specific section.

Save Money on Food & Water

Food & water are the building blocks of life. No matter what your income or education level is, you spend a considerable amount of money on these basic needs every month. This is an easy place to cut down your expenses and eat healthier, too.


1. Cook Your Own Meals

Preparing your own meals is a smart way to save money on restaurants & food delivery services. Wake up early in the morning and plan out your meals for the rest of the day.

Focus on basic whole foods like brown rice, potatoes, and vegetables. Eat fruits as a snack in the morning or between meals.

If you work a dayjob, bring your lunch to work in a tupperware container and bring a water bottle instead of buying bottled water.

2. Shop at Public Markets

Shopping at public or farmer’s markets will cut your fruit & vegetable expenses down because fancy grocery stores have higher food prices. Many cheap farmer’s markets open on the weekends and you can buy all organic produce from local farmers at a bigger discount. Mornings are the best times to shop at public markets because the produce is much fresher.

3. Buy in Bulk

Purchasing in bulk cuts down on your average cost per unit. Try buying food by the pound/kilo.


Food like brown rice, eggs, potatoes, onions, and garlic are much cheaper in bulk than if you buy them in smaller amount. Store the extra food in your refridgerator to make them last longer.

4. Buy Generic Brands

Generic store brands are often 50% cheaper than more expensive premium brands for things like cereal, oatmeal, pasta, tea, etc.

5. Use Refillable Water Containers

Buy a large refillable water container instead of spending money on bottled water. Get your water from your local refill station if they are available in your city/town.

Another top is to purchase a Brita Water filter and filter your tap water to cut your monthly water expenses. Brita filtered water takes just as good as bottled water in my opinion.

6. Avoid Snacks & Junk Food

Snacks like donuts, cookies & ice cream add extra expenses to your food budget while providing empty calories. The same goes for fast food restaurants like McDonald’s, Burger King and Wendys. Fast food can add hundreds of dollars monthly to your food budget.


Focus on whole foods and only snack with fruits & homemade snacks.

7. Reduce Red Meat Consumption

Red meat is more expensive than plant based foods. Cut back on red meat and replace it with vegetables, legumes, fruits, grains & bread. Try plant based meat substitues like Beyond Meat burgers.

8. Quit Drinking Alcohol

Beer & Alcohol is not only bad for your health but puts a drain on your finances. Going out 2x a week and just spending $20 per night quickly adds an extra $160 in monthly expenses.

Replace alcohol with water or juice because it’s much cheaper and you’re not trying to get drunk.

9. Start a Garden

Grow your own food with a simple vegetable garden and eat delicious, homegrown food at a huge savings.


You can clear space in your backyard and start a vegetable garden or plant seeds at a local garden co-op. If you’re limited on space then buy a portable vegetable pot and grow your vegetables indoors.

Make sure to choose seeds that are in season and continue watering the plans until the seeds sprout.

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