Jasmine Birtles
Your money-making expert. Financial journalist, TV and radio personality.
How To Cut Costs At Home and Work
Moneymagpie Team
16th Mar 2022
Are you looking for more fun and fast ways to cut costs at home and work? Here are the top tips to help you live with less stress and more success — all year long.
Cutting Costs At Home
Many professionals are looking for ways to slash spending. But, let’s face it. We want to enjoy living, stay healthy, and have some fun at the same time. That’s why these tips are so great. You can enjoy more, boost your health, and have a lot more fun with these simple moves.
Cut The Meat
More and more people are eliminating or reducing meat consumption. Over half a million people are participating in Veganuary 2022. That means over 500, 000 are experimenting with a vegan diet.
Cutting meat consumption usually goes hand-in-hand with eating more fresh fruits and vegetables. So, while you’re reducing your grocery bill, you also may be choosing a healthier lifestyle. Think about the savings in medical bills due to your proactive efforts.
Cut The Gym
These days gym memberships are seeing a drop. It’s not a surprise, as so many people realized they weren’t using the gym regularly. Parks, walkways, and local outdoor recreation areas are usually free and offer a great way to reduce stress in a natural setting.
Cut The Car
If you’re working remotely, or in a hybrid work arrangement, you may be enjoying the reduced costs that come with a zero commute. You don’t have to pay for gas, bridge tolls, maintenance, or repairs.
Think about how much money you could save if you continue this for the year. Imagine how much healthier you could be if you can replace your car commute with a bicycle commute. If you can’t do this every day, do the calculations about long-term savings with even a day or two without your car.
Cutting Costs At Work
Cut Shipping Costs
If your business uses shipping, you can make critical cost-saving decisions with a spend management portal. This is a portal that shows you what’s going on with shipping in real-time. The best part about it is you don’t need to be a data analyst or technological wizard to use it.
This kind of portal makes it easy to develop cost-savings strategies. If you anticipate changes, you can align your strategies by seeing the associated costs. You can plan for forecasted expansion, decline, organic or inorganic growth.
You can also measure impacts. For instance, you can use charts to see the effect of rate increases and surcharges. optimization efforts. Plus, you can use colorful dashboards to help your staff see the big picture. You can show dashboards to your CEO, analysts, and staff so that everyone can understand the impact of shipping decisions.
Cut Transportation Costs
If your business relies on shipping and transportation, this can be a great place to save money. For example, if you’ve been relying on certain carriers for years, you may want to do a parcel audit. You could find that certain carriers have repeated errors. It may not seem like much at the time, but over years, this can add up.
Additionally, you could evaluate the world of carriers. You may find that putting your shipping contract out to bid helps you find a better deal. While you’re hunting for the best carrier at the best price, you may find your current carrier is willing to strike a better deal if they learn you are considering alternatives.
Cut Claims Losses
If your business is relying on carriers, you may already know that there can be human error. These may include charges for a late shipment, address changes, or service failures. Some of these charges may include errors. By using audit software, you can review invoices, identify errors, and cut costs.
Cut Office Expenses
As more and more businesses are offering work from home (WFH) options, you can cut office expenses. This may require new strategies that offer employees independence, freedom, and technology to effectively work from home. At the same time, you may be able to reduce costs of office rent, office utilities, and office insurance.
Take a look at your spending at home and work. Explore creative ways to increase health, productivity, and enjoyment—while slashing expenses. Who knew that saving money could be so much fun?
Disclaimer: MoneyMagpie is not a licensed financial advisor and therefore information found here including opinions, commentary, suggestions or strategies are for informational, entertainment or educational purposes only. This should not be considered as financial advice. Anyone thinking of investing should conduct their own due diligence.
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