In order to build wealth, a gap needs to be created between income and expenditure.  This can be achieved by earning more, or spending less.  These articles cover ways to spend less.

They cover ways to pay less tax, spend less on bills and control discretionary spending.  The aim of the game is not deprivation, but becoming expert at knowing which spending really provides value and cutting the rest.

Typically, people don’t think they can cut much from their spending.  The biggest savings are in your three biggest spending categories.

First, you must know where your money is going.  Many have no idea.  Tracking spending is essential in working out where to spend less.

The three biggest categories are often housing, food and transport (although in our case, kids).  Long term decisions over your life over your housing and transportation will make a colossal effect on your future wealth.  Live in a little less house than you can afford, and don’t waste more money than you can on cars (depreciating assets).

After the big categories are covered, if you need further savings, you may find you can cut a little from each category without any lifestyle damage.  Look for completely wasted money first – forgotten subscriptions and unused gym memberships are common.

Look at the big picture to save more cash.  When about to spend, think about the lifetime spending on this item and if it can be optimised.  It may involve spending more on the item now, to save far more over the long term.