Everyone's financial situation is different. Are you currently living pay check to pay check, or have debts to pay off, or looking to cut down expenses to reach a financial goal, or maybe you are doing well and simply aiming to build a more secure financial future? Whatever the reason, figuring out how to spend less money can be quite challenging given the ever-increasing cost of living. This doesn't mean it's impossible. A successful way to save more money is to reduce monthly expenses. 

Here's how:

Use Public Transportation

From auto insurance, maintenance, repairs, parking tickets, and filling the gas tank, owning a car can be very expensive. If you can access public transportation, use it. Learn to take the subway, bus, bike, or simply walk whenever you can. Imagine how much more you can save on car payments if you avoided buying a car altogether? Rideshare services in major cities make it easy to live without a car. For those in smaller towns with a small public transportation system, consider carpooling and splitting gas with friends, neighbours, or co-workers.

Reduce Your Entertainment Expense

When you want to cut monthly expenses, this is where to begin. Since the entertainment budget encompasses a lot, here are a few suggestions. First, eliminate or reduce regular paid services such as cable subscriptions, Netflix, magazine and newspaper subscriptions, club memberships, and so on. Instead of going out and throwing parties every now and then, look for cheaper entertainment options. Spend a day at the park, go to local theatres, take your kids camping instead of going to an expensive amusement park, or simply have fun the old-fashioned way by socializing with loved ones.

Reduce Energy Bills

Energy bills account for a fifth of household expenses. The easiest way to save on this is to switch to a cheaper supplier. Most of the energy bills are not over-the-top luxuries that you can cut off completely. Luckily, technology has made it possible to significantly reduce each energy bill. Some of the steps you can take towards that are to install LED light bulbs, install a programmable thermostat, insulation, unplug unused electrical devices, invest in renewable energy, and so on.

Save Money on Food

Although food is one of the largest and compulsory expenses in every household, there are several ways you can save on it. For instance, reduce or avoid eating out and getting take-outs, buy fresh foods that are in season as they tend to cost less, avoid buying fresh foods in bulk to avoid spoilage, use coupons whenever possible, pack your lunch to work, trim down on special treats, buy generic foods, among other things.

Sell Unused Items

Unless you are super-organized, chances are you have a lot of stuff you don't need any more that are worth selling to make extra cash. You can arrange for a garage sale and sell unused items like TVs, tables, DVDs, clothes, stereo equipment, and much more. Alternatively, sites like Craigslist, eBay, Amazon, and Gumtree, have made it much easier to sell items online.