Infographic: 5 ways to dramatically reduce personal spending this year.
Infographic: Grinches don’t deserve your generosity
- Ditch the luxury car. Whether you drive a pricey import or a mid-range model, you could scale back to a more budget-friendly vehicles with better gas mileage.
- Downsize your home. A smaller residence may make sense if your children have flown the nest. If you still need space, check out less-costly neighborhoods or homes on smaller lots.
- Cancel cable. you may not need that $100+ a month cable package if you can catch your favorite shows via Netflix, Hulu or similar services as a lower (or no) cost.
- Renegotiate Contracts. Did you sign your cellphone contract or buy life insurance years ago when your need were different? Look for better deals now.
- Talk to a financial professional. There may be cost-cutting and planning opportunities you haven't thought of.