Avoiding Financial Black Holes

Have you been saving money incessantly and still find yourself a bit short? Aside from the usual spending on clothes and food there are other necessities that you can cut back on. This may seem the height of cheapness but finding ways to cut back on your basic needs will go a long to way to stretch your limited budget. Here are some ways to cut back on spending on your basic needs.


This is probably your largest money black hole. Whether you’re renting or your paying the mortgage, the roof over your head sucks a large percentage of your income. Have you ever considered alternative ways of living?

Utility bills

Paying for your utility bills are a great expense. Save on your heating bills by turning down the thermostat every winter.

In the summer use the drapes to keep the house cool. Adjust the thermostat in rooms that aren’t in use. Why are you paying the money for nothing? Switch to compact fluorescent lighting to save on your energy bills.

Cut down your long distance telephone calls. Choose the right telephone plan and internet service provider for your needs. Do you really need that super speed internet or can you be content with something that is less fast but cheaper? There are many ways to save money on your main utilities.


Everyone wants to live in a beautiful house. But you don’t have to go overboard to have an aesthetically pleasing house. Second hand shopping will be your most effective method of having an elegant interior decorating.

You can also look at your old furniture and find ways to make it new again. You can paint that old cabinet and use it as an entertainment center. Your style doesn’t have to be hampered by steep prices.

You can still have that modern living room but without the obscene price tag. Just look for the bargain pieces and be patient in collecting. You may not have your ideal living room in one go.


Your large appliance are expensive to repair or replace. Will the energy savings from buying a new refrigerator unit cover the cost of buying a new unit? If you can fix the problem yourself do so. You would be surprised at how many seemingly technical problems are relatively easy to fix.

Before buying a new appliance, you should take into consideration the cost of such a move. Repairing the unit might be cheaper. Take a while on your decision. There’s no rush when it comes to saving money.


Calling for the repairman or the plumber can eat a lot into your savings. The cost of the service alone is expensive without even adding the cost of the materials. Ask for references and ask for an estimate. And like going to a doctor, ask for a second opinion.

Don’t settle for cheaper labor. It may not cost you as much but it will when you have to do the repair over again. References are very important.


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