People who are finding that rising costs are making it hard to make ends meet need to identify all their current household expenditures. The easiest places to look for savings are in the areas of discretionary spending, that is things that you don’t actually need to survive. It is time to cut down or eliminate spending on things such as smoking and alcohol, gambling, pay TV, take-away foods, hobbies and the like. While some savings can be made in non-discretionary spending such as the weekly supermarket shop and household bills such as electricity, in my experience the savings are likely to be much smaller and require more effort to sustain.
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