How to Save Money » Budgeting

3 large expenses to cut from your budget: New video

Last week I talked about 3 small expenses you can cut from your budget to save money, and this week what I want to talk about is those large expenses.

I understand that not everyone will be able to cut these expenses, but I do encourage you to at least consider them.


Whether you rent or own your home, it is probably going to be your most expensive bill every single month. If you can cut that bill (well, scale it back), you can save a ton of money.

Move into a smaller home and save your cash to purchase a larger home (if that’s actually what you need). You may actually find that when you’re living in a smaller home, you really don’t need that extra square footage after all.

Save your money instead and use it for something more important.


Consider becoming a “single-vehicle home” or even getting rid of your vehicle(s) altogether.

I know this will be challenging for many people and it might not work for you. However, you need to think about the pros and cons of owning a vehicle and decide whether or not it’s worth it for you to continue carrying those costs (car payments, insurance, repairs).

It’s not cheap to own a vehicle, so if you’re looking to save more and spend less, it may be worth it to get rid of your car or cut back to only 1.

Eating out

This may not be a large expense for you, but for some families, eating at restaurants is a pretty hefty “bill” that they pay every month.

Eating at home is going to save you a ton of money. Avoid going to restaurants, because you are going to be paying a huge mark-up. You can easily make the same foods at home to not only save money but eat healthier as well.

Those are 3 large expenses that you can cut from your budget. I know these won’t be easy for everyone and I know that some people won’t actually be able to cut any of these expenses.

However, you need to consider cutting at least 1 of them, because every penny saved really does count – and you could be saving some serious pennies by cutting the above expenses.

Would you consider cutting any of these large expenses?


  1. Theresa

    I am always amazed at people “moving up” to bigger houses. Why not live in a normal sized home, and bank the money you will spend on a bigger home. I know it is all for show, cuz there is NO way a family of four (or smaller) NEEDS a 3000+ sq. ft house. With utilities on the steady climb upwards, there are going to be a lot of houses for sale.

    The vehicle thing is harder. We live about 25 mins outside of a city. To get anywhere one needs a car. My husband and I both work shift work and commute. Getting by on one car would be a nightmare logistically. If you live in a city or even a larger town, it could be done.

    Great post.

  2. case master

    great post. i think a lot of people have multiple cars because at some point they needed it, but circumstances change so it is important to continue to re-evaluate your situation to see whether it applies to your lifestyle as it is today.

  3. Connie Seward

    My husband and I downsized to one vehicle just over a year ago. He works in construction and uses a pickup truck for that purpose.
    The initial decision was a bit scary…. as I felt as if I would be stuck without wheels. The actuality of it has been very pleasant. #1. Way less money spent on transportation costs 2# My family does not view me as their personal chauffeur anymore so I have more time to do the things I want. #3. I am much fitter as I make it a point to walk or bicycle to do most errands.
    If I do need a vehicle on a particular day for some reason, we co-ordinate as necessary. I always have the option to use a taxi. The cost being far less than keeping two vehicles on the road.
    As a society, we tend to think of a second car as a necessity when in reality, it is just a want.

  4. Carrie H

    For us the house and car is not changeable (I don’t want to change – I live in the country and want to keep my 4×4 truck) The eating out is what i am working on – i have found it easier to buy something after working 8 hours then cooking – but that has to stop the crock pot has made it to the surface.

  5. Carol

    We have managed to be a one car family for 20 years with 3 kids in competitive sports activities. It can be done. DH takes the Go train to work. About 8 weekends a year we rent a car from Enterprise – they have a great weekend special Sept – May about $35 from Fri through Monday.

  6. Mia

    To help those of us who work full time and have a hard time making regular meals… I’d love to see a series on quick and easy recipes! And maybe some crock pot/slow cooker recipes as well. (Or perhaps pose that question to your readers! :))

    Love this article. I’ve been trying to cut back on eating out but it is hard.. especially when it comes to friend’s bdays… I am still at the stage in life where we go out to restaurants all the time for birthday celebrations still! Maybe once the kids start rolling in we’ll all cut back on that a bit! 🙂

  7. Kiminou

    My husband had just had a heart attack when our last car died. Since he could not drive for a while and I could not afford parking downtown near my work, we went without a car for more than a decade. Recently my eldest daughter was buying a new car to accommodate the growing number of children’s car seats. They were going to junk the other car which was more than 10 years old but instead gave it to us. We have insured it and now we share it between 4 households (ours and my other daughters’) for those times in the past that we would have rented a car.

  8. The One Income Dollar

    We still like to eat out every now and again but by eating at restaurants that do not have waitresses- such as Subways, A&W, etc., you can avoid having to pay the extra on a tip.This is a great trip when travelling if you are going to be eating out quite a bit.

  9. Dina

    Thank you for giving us things to think about! Keep them coming! Our house is pretty small compared to others (1250 sq ft), but it is enough for our family of four. We have one car and an electric scooter that my husband rides to work (No insurance required and charging didn’t change our bill that much) We eating out may be 4 times a year. It is good to know that we already doing something to save money.

  10. Christina

    After tracking our family spending for 3 months, I realized we were spending in excess of $200 each month on dining out! How could I NOT have known that? Now I pack a lunch for us for those times I know we can’t make it home to eat. Our budget is $50/month for dining out but we don’t even spend that most times. Sometimes you just don’t realize the money you’re completely wasting.

  11. Naomi Spence

    We eat out maybe once every couple of months, just as a treat or that rare time we can’t get home. Most days we schedule our errands so that we can be back home by meal times. It’s never a fancy restaurant either just subway etc. We live out of town, so no car is not an option, but we have always stuck to one thing with our cars, brand new is not an option. When buying a used car you do have to be careful, but there is good quality cars out there and then you have the added bonus of no monthly payments for years to pay off that car, that saves money. My husband has health problems and we have kids that so called payment can go to better things. I absolutely agree one family does not need three or four cars, or do most families need a huge house. People just get a bigger space and fill it with more things, if they actually went through belongings often they would find that over half of what they own rarely even gets used, if at all, especially if you have multiple kids 🙂

  12. christine

    I think having a smaller house and watching the eating out is the best thing. We both work full time and need the cars.But expense covers one car and I drive a small car which is good on gas and always drive the speed limit which saves on gas . Also we budget for regular maintenance and repairs to save surprises if we can.
    When we do eat out we don’t order drinks just water and go when they have a special eat half and have the rest the next day. It also better for the waist line.

  13. Marilyn

    Why not develop your basement and then rent out the extra bedroom or two. I do this for college studenta and it psys for my house expenses. A full separate bathroom downstairs and food storage (fridge with freezer and shelves), and quick preparation areas (microwave,dishes and cutlery) helps for privacy and sanity.

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