During the economy downturn, people start to think about ways to reduce expenses and save more. But how can you enjoy your life at the same time with lesser expenses?

First of all, if you have debt, pay off your debt first before we talk about saving. To pay off your debt, it is necessary to have money. You must have a job in order to have money. If you are currently working, look for opportunity to work overtime in order to get more pay.

It is better still if you have salary increment, bonus, incentives or commission given by your current employer. If overtime and monetary rewards are not possible, look for part time job which can generate more cash in the evenings and during weekends. Use the “extra” money to pay off your debt. Do not force yourself to work as part timer once you have enough money to clear your debt unless you really enjoy the job.

If you are not lucky enough where you have been retrenched and unemployed at the moment, there are still ways to get money. You may find those things at home which are no longer in use and sell them through flea market or through internet. Those things could be your dress, jeans, old computer, accessories, old hand phones, books, etc.

However, if you are deep down in debt and you possess a car or a house, sell your car and house first in order to pay off the debt to reduce the excessive finance charges.

Now let’s see what fun you can make if you don’t owe any debt and you would like to save more. To save more in your bank account, of course you need to reduce as much money you spend.
Here are some points to consider:

• Stop purchasing luxurious or branded items which are normally expensive
• Stop purchasing unnecessary items that you seldom use
• Sit down and work out your shopping list weekly carefully by comparing the prices offered by different hypermarkets through their brochures. Find out the items you need most in your daily life and ignore those unimportant items
• Stop enrolling yourself to gym or yoga classes which costs you high membership fee. You may do exercise at home
• Reduce the frequency of driving to save the petrol cost. You are encouraged to use public transport
• Stop going out for night entertainment such as watching box office, singing karaoke, clubbing, disco, etc. If you really eager to go, search around for special deals
• Cook meals at home for yourself and your family members and reduce the cost spent in the restaurants
• Try to reduce the usage of utilities at home, for instance switch off all the lights at night when you are sleeping
• Fully utilize your computer at home or at office to save money. Do reading online and download offer coupons from the internet
• Go to library more often to save more from purchasing new books
• It is safer to buy daily goods in bulk from hypermarkets to cut cost. Buy the daily products during promotions
• You can buy less expensive groceries but with same qualities
• Find ways to communicate with friends for free instead of making long distance calls, such as using Skype, MSN, Yahoo Messanger,etc

You must be determined to change your lifestyle if you really want to reduce your daily expenses, pay off your debts and spend lesser money. It is not wise to spend more money when you don’t really have it.

It is fool to think that you still have money when you are actually using credit card or cash advancement from the credit card.

Try to apply the above mentioned ways. You will definitely be less stressed and happier when you manage to save cost and have more money in your saving.