To simplify spending, consumers need to consider how much a particular item or service is worth to them personally. Another method of cost-cutting is to share costs and use community resources. For example, Bechman says that instead of purchasing books, use the library. For inexpensive recreational activities, use public parks instead of purchasing tickets to a theme park. When purchases are necessary, consider splitting the costs with someone else.
Substitution also can be an effective cost-cutting technique.
Bechman says consumers can save by choosing less-expensive options or brands. She says that if you enjoy something but it is not a necessity, don't give it up if it will make you miserable. For example, cable television is not a necessity, but it may be cheaper than frequent trips to the movie theater. Impulse purchases can undo even the best belt-tightening measures. To keep spending under control, Bechman suggests planning ahead by making shopping lists.