1. Begin with the necessities of life (food, drink, housing)- 76% reduced.

The necessary means to live is to eat and drink, and to sleep.  Most of us, probably already have a place to call home, so this section will mostly how to reduce the monthly expenses for food and drink.  Beginning with drink, water is the most vital source we need to survive, moreover it is also the most abundant and easily attainable from most developed nations.  However, not all public accessible is satisfying or safe for us.  Sanitary chemicals from water treatment plants are a normal process to produce clean water.  There, the public accessible water, is 100% clean for a natural taste.  This is one reason why bottled water differs from treated water.  For the readers who are more concerned with healthy living, consider buying a water filtration system, such as Pur.

With water in perspective, do we really need any other drink?  No.  The purpose of this, is to eliminate the luxuries we take for granted in life.  Colas, juices, teas, etc., are all considered luxury items unless medically prescribed by a physician.

Next, food is topic.  Again, just as water was previously detailed, food applies to the same when it come sto luxury items.  There are only a few vitamins and minerals the body requires in order to function properly, without getting sick.  Mineral grains are among the best to help supply sources.  Rices, noodles, and other such grains can be sufficient enough.  Moreover, if certain person need more vitamins/minerals, a multi-vitamin can help meet the standards for the body.

With food in perspective, do we really need that 12 oz. rib eye? No.  All other foods can thus be defined as an luxury item, expect sources of sugar.  The body also needs adequate amounts of sugar as well as protein to maintain proper functionality.  The question again is, do we need a 1 gallon tub of ice cream?  No, cheap sources of sugar can be obtained from discount brand sugar cookies.  For protein, eggs are a perfect sources.

To put some numbers on the table, I, a single male, was previously spending $120+ per month on food and drink.  My diet consisted of sandwiches of turkey and provolone  cheese, spicy Italian sausages, chicken wings, pasta, ice cream cakes, beer, green tea, and a few more items.  After taking into consider the above philosophy, I was able to reduce my monthly food expenses to a mere $28.8 per month.  This does not include the price for multi-vitamins.  See figure 1 for example.

Figure 1:

2. Carpool, walk, public transit, etc- 100% reduced.

Considering I live right beside work and most stores that I daily shop from, I was debating on if I needed my sports car or not (2012 370z).  Since I drove the car for pleasure, my thoughts were that this car was a necessity in my life.  Therefore, I decided to eliminate this extra cost and walk, use public transit (not necessarily needed), or carpool with friends.

By eliminating my cost, I was able to write of my car note, insurance, and the unpredictable price in gas.  My car note alone, was $504/month, insurance was about $151/month - full coverage with Progressive, and gas was estimated at around $50/month since I like to drive super fast.  Therefore, my total monthly cost for having a car, was about $705/month.  By selling my car, I was able to reduce 100% of my car, and still manage to get where I needed.  See figure 1 for a visual example.

Figure 2:

3. Adjust the circuit breakers in your home- 30% reduced.

When electricity comes to mind, I often wonder why electric companies are continuing to charge me electric cost, while I'm not even there, despite everything in theory is off.  However, when I considered everything was off, I was referring to the tv, lights, and HVAC.  Little did I think about the refrigerator and hot water heater.  So, again, there question here is, do we really need this?  For most of us yes, and some no.  On the contrary, for those who do need these expenses, at what times? 

Keeping the same philosophy, I considered to turn off the power to certain areas at certain times so that that a majority of all electricity will be eliminated through my home while I'm not there, or not using it.  While I'm away, I turn off the complete breakers to everything except the refrigerator.  This is to insure that food will not become spoiled.

In regards to the water heater, how often do you need hot water?  For most of us, when we shower, wash dishes, clean, etc.  Not while we aren't there.  So why pay for unused electricity? 

On a minor note, my apartment is very well insulated, and can maintain a constant 76 degrees Fahrenheit, so I absolutely never use my HVAC.

Also, when using an oven/stove, consider how many more times you will use it.  On my current diet, I eat boiled eggs every morning for breakfast.  If I know I am going to eat eggs in the future, wouldn't it be logical to cook several eggs at once, instead of cooking one or two eggs each time?

After implementing this expense reduction philosophy, my power expense went from about $50/month to about $35/month.  Although this amount may not seem like much to many readers, however ever dollar adds up to every final expense.  See below for the chart.

Figure 3.

4. Conclusion

In conclusion, the above provides some tips on how to help reduce your monthly living expenses.  Although the tips may not be suited for everyone, but for those who choose to participate can expect some financial gain through the results.  In figure 4, is the total to how much I was able to reduce. 

Figure 4.

If you have any questions, concerns, or suggestions, feel free to contact me, and thank you for taking the time to read my blog.