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Pain Free Cost Cutting

Updated on June 11, 2015

Simple Method to Cut Cost

There are several ways you can cut you personal and household cost cost that are pain free. If you want to cut spending or need to cut spending then take a look at what can be changed. For instance, your cable bill may be increased, but for the exact same service you can take your business to the competitor in your area and save.

We just did exactly that and are saving $72 a month, plus we are happier with our new service. Before you make this change if you are happy with your current service, call the company and ask them to reduce the rate. If they think they are going to lose a customer they will often lower your rate.



Cutting your taxes if a good way to cut costs. It probably means you need to pay more attention to your itemized deduction list. If someone has high medical bills for instance, don’t forget to count all the mileage to the doctors, hospitals, and pharmacies. If you are self-employed there are many more opportunities to find more deductions.

As for your investments that have lost money, you can save money by selling and then writing it off. They can then offset gains you have made on other investments. If your losses outweigh your gains you can deduct as much as $3000 of investment loss from you ordinary income.

Mortgage Interest

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Housing Cost

There are many painless ways to cut cost.

Since the interest rates are so low take a look at your current mortgage rate and see how much you would save by refinancing. If theinterestis 2% lower it is time to consider refinancing. However, it is much more meaningful if you have a $300,000 mortgage then a $40,000 one. If you plan to stay in your home for several years that is another consideration as there are closing costs.

Lower home mortgage rates might also be a worthwhile consideration if you want to take a 30 years mortgage and get a new 15 year mortgage at this lower interest rate. You will save a large amount of money on interest as long as the payment is affordable. This is something else my husband and I did but it was a 10 year mortgage as we wanted our house to be paid off before his retirement. This worked very well for us.


Take advantage to streamline your life when opportunities present themselves. If you like one particular type of toilet paper and it is on sale buy 3-6 months worth and if you have coupons, that makes it a better bargain. Many people like a particular type of soft drink and buy a carton a week. Again, watch for the sale and buy 3 months worth at that time. Companies lower prices for a specific period of time, then they raise them back up hoping you are hooked on their product, so buying in bulk is the wise move.

Cut You House Taxes

If recent home sales in your neighborhood lead you to believe that your house is worth less than its assessment value, get an appraisal in support of your claim. You can file a grievance to the property assessor’s office to reduce your home taxes. An assessor will charge $200 to $300 so you might want to talk to a real estate agent that sells in your area first to get a generally idea of current selling values.

If someone if your family is disabled get in touch with your tax assessor as in most states you will get some amount of reduction in your house taxes. Also, in the state of Florida if you have an elderly parent living with you, you may apply for a Granny Flat Exemption Tax, which saves some money on your property taxes also.

There are several types of green energy upgrades that you may do on your house that will give you a tax credit also.

Energy Efficient Gas Stove


If you have cell phones and a land line, you might consider getting rid of the land line. You really can live quite well with just one type of phone and it might as well be the one you keep on your person. Raising the minutes is usually cheaper than paying for two types of phone service.

Energy Saving Appliances

If you are replacing large appliances first check a consumer report to find the best energy saving, good quality appliance to fit your needs. Then look for sales. Some store typically will have appliances on sale sometime during every month.

How to Budget Personal Finances : Ideas for Cutting Back a Budget

More Cost Cutting Tips

  1. Turn lights off when no one is in the room and turn off all computers at night. Turn down your thermostat at night in the winter and in summer turn it up in the day time. Dress according to the temperature in your home.
  2. Cut your water bill by not letting the water run constantly when you are cooking or washing up some dishes. Turn the water off when you are brushing your teeth and back on to rinse. Have your hot water heater insulated and on a timer.
  3. Clip out grocery coupons and use them faithfully. Try to also find a sale when using the coupon for double savings.
  4. If you smoke, quit. You will be better off and healthier.
  5. Coordinate errands so you are using less gas and you will have move time to do other things.


If you want to cut cost or just track you money a good budget is a necessity. This is really only a 3 step process:

  • Identify how you are spending your money now.
  • Evaluate your current spending and set goals that consider your long term financial objectives.
  • Track your spending to make sure it stays on budget. Software will really make the job a lot easier.

Auto Expense


The most common over spending problems for people are houses that are too large and expensive, a car that is too luxurious or living a credit card lifestyle.

We all have a choice as to how we spend our money. It is good to put at least 10% of your income into savings because if you want to meet your financial goals for retirement it takes planning. Most of the cost cutting in this hub really is pain free and over the years the savings will mount into something that will make your retirement years much more comfortable.

© 2011 Pamela Oglesby


Submit a Comment

  • Pamela99 profile image

    Pamela Oglesby 6 years ago from United States

    Support Med, I'm so glad you like my tips and I appreciate your comments.

  • Support Med. profile image

    Support Med. 6 years ago from Michigan

    Wonderful tips on how to build our savings and making a dollar stretch. v/r

  • Pamela99 profile image

    Pamela Oglesby 6 years ago from United States

    Hello, I appreciate your comment as they are always so sweet.

  • Hello, hello, profile image

    Hello, hello, 6 years ago from London, UK

    Super hub, as always, and with brilliant tips.

  • Pamela99 profile image

    Pamela Oglesby 6 years ago from United States

    Audry, Well, at least your husband can be helpful. I have done so much research that I am going blind. Plus, some of the topics are so similar I feel like I am repeating myself. I will say I have learned a great deal and am making some changes in our finances, so I guess it is all worthwhile. Thanks for your comment.

  • akirchner profile image

    Audrey Kirchner 6 years ago from Washington

    Great tips, Pamela! Have we learned a lot about finance or what? I think I already knew most of this stuff but I actually have enjoyed the research---I'm not sure if my husband the ACCOUNTANT would agree....too hilarious. He keeps saying...oh lord....not more TIPS, Audrey!

  • Pamela99 profile image

    Pamela Oglesby 6 years ago from United States

    Prasetio, Thank your for your comments that I really appreciate. God Bless you too Prasetio. Have a great day.

  • prasetio30 profile image

    prasetio30 6 years ago from malang-indonesia

    Good morning, Pamela. I liked this hub, very informative and very well written. I thought we all enjoy to follow your tips. Thanks for writing this. Vote up. God bless you. Take care!


  • Pamela99 profile image

    Pamela Oglesby 6 years ago from United States

    sueroy, I am glad I have given you some more expenses to check out to reduce your taxes. Thanks for your comments.

    Matie, Saving for the future is so important and the older we get the more we realize this. Thanks for your comment.

  • MartieCoetser profile image

    Martie Coetser 6 years ago from South Africa

    It is always a challenge to live within your budget and to cut unnecessary expenses. It is much easier when the children are, at last, financially independent. Thanks for the great tips, Pamela. You inspired me to check my budget again – I have to cut in order to save more money for the future. Take care!

  • sueroy333 profile image

    Susan Mills 6 years ago from Indiana

    Great information! I didn't realize you could deduct the cost of traveling to and from the hospital and pharmacy! I'm sick to think of how many deductions we've missed in the past few years!

    Thanks to you, we won't miss them this year!

    Thank you Pamela!!

  • Pamela99 profile image

    Pamela Oglesby 6 years ago from United States

    WillStarr, I appreciate your comment.

    Kindacrazy, I'm glad you and your husband will benefit for the information. Thanks for your comments.

  • Kindacrazy profile image

    Kindacrazy 6 years ago from Tennessee

    Pam, my husband ain't called the "coupon king" for nothin'!! All kidding aside, I will give him your advise, he will LOVE these cost saving ideas (secretly, so do I)! Very useful.

  • WillStarr profile image

    WillStarr 6 years ago from Phoenix, Arizona

    Very good advice Pamela!

  • Pamela99 profile image

    Pamela Oglesby 6 years ago from United States

    rpalulis, I'm glad that you saw some useful tips that will help you. It is having that effect on me also. Thanks for your comments.

    Fiddleman, Thank you so much. I appreciate your comments.

  • profile image

    Fiddleman 6 years ago

    Pamela great hub and a good common sense approach to conserving and saving.

  • rpalulis profile image

    rpalulis 6 years ago from NY

    I love these pain free cutting cost tips. I am starting to become addicted to saving! I love it, such a great feeling!