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8 Ways You can Decrease Your Surplus Spending

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8 Ways You can Decrease Your Surplus Spending

Simple changes in your spending habits can mean hundreds of dollars in savings! One of the easiest ways to implement these changes is to make it into a game for you and your family. Who can find the best deal on groceries? Which store offers the best prices on household items? See how you and your loved ones can cut down on your spending this month with these eight game-winning strategies courtesy of Bank of Louisiana:


  1. Only use cash for your monthly expenses. This strategy can take some planning, but studies show that those who purchase items with cash, instead of credit, spend less overall. Start your cash-only plan by withdrawing money for groceries, household expenses, gas, and other primary expenses at the beginning of each month. As the month goes on, you can only spend what you have available in cash.
  2. Make a list before grocery shopping. Just like you never want to shop on an empty stomach, you don’t want to step foot into a grocery store without knowing what you’ll be purchasing. Start creating a menu for the week, and shop only for the items you need. This will help you cut down on excess cost and food waste throughout the month. Your little ones can help further decrease costs by spotting deals in the local paper and throughout the store.
  3. Limit Your Dining Out. Whether it’s grabbing a quick lunch at work, or taking the family out during the week, your dining expenses can add up quick! Try and limit your family to restaurant meals once a week. You don’t have to completely eliminate this activity from your budget, but reducing it could save you hundreds in the long run.
  4. Bring Your Own. Instead of stopping for coffee in the morning, or going out for a bite over lunch, you can save countless dollars by bringing your own food and drinks to work. If your weekly meals are made in slight excess you can reserve a tupperware container each night to take to work the next day. This is an easy and affordable way to prevent those last minute lunch orders and unwanted spending.
  5. Cut Your Cable. As cable plans climb upwards of $100 a month, you and your family can cut your bill by more than half when you switch to several streaming alternatives. While these streaming services offer great movie and TV options, you may still want an antenna to catch any local broadcast or regional sporting events.
  6. Buy in bulk. With new technology like the Amazon dash, you can now buy your favorite products in bulk for a fraction of the cost. Other retailers like Sam’s Club and Costco offer great bulk prices with their yearly membership. Grocers such as County Market also offer large discounts on a variety of items.
  7. Print Photos Online. Amazon is also launching a new printing service that will compete against other photo companies like Snapfish and Shutterfly. Their new service will allow you to print your family photos at nearly half the cost, while enjoying other products at more affordable rates. Add in free delivery for Prime customers, and this a great way to save extra money around the holidays.  
  8. Switch to a Community Bank. Forget about those unwarranted fees. With a community bank like Bank of Louisiana, you can trust that your money will be well taken care of, and our dedicated staff will help you continue to grow your personal finances.


Whatever your tactics may be, our team at Bank of Louisiana is here to help! If you want to take your savings to the next level, put them into one of our IRA options today!


Bank of Louisiana

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