ACCC Offers Strategies To Cut Expenses

ACCC provides consumers with ten tips on how to reduce expenses.

Boston, MA – June 26, 2018

Tips To Cut ExpensesFinding ways to cut expenses and spend less can be one of the biggest challenges in personal finance. By making a few small changes, consumers can take control of their finances and contribute more to their savings. To help, national nonprofit American Consumer Credit Counseling offers ten strategies on how to cut expenses.

“When paying off debt, it is important to not cut back on future necessities, such as 401(k) contributions, and consider other ways to cut expenses,” said Steve Trumble, President, and CEO of American Consumer Credit Counseling. “Take some time to look through your expenses and find ways to cut back. It might even be as simple as remembering to turn the lights or air conditioning off when you’re not home.”

According to GoBankingRates, 57 percent of Americans have less than $1,000 in their savings accounts. Thirty-nine percent of respondents have no savings at all, an increase from 34 percent in 2016. The survey also found that 25 percent of respondents have more than $10,000 saved up, a 10 percent increase from 2016.

American Consumer Credit Counseling offers ten tips on how consumers can reduce expenses.

  1. Utilize public transportation – If you have access to public transportation, you can save a lot of money on parking, gas, or even buying a car in general.
  2. Carpool – Split the cost of commuting and take advantage of carpool lanes on your way to work. Carpooling can also reduce the wear on your car and in turn reduce future mechanical expenses.
  3. Unplug electrical devices – Most devices still draw electricity even when they are not in use. Be sure to unplug all devices that are not in use to cut down on costs.
  4. Reduce or get rid of cable – Downgrade from premium cable or get rid of it all together. Most of the main channels offer either free or minimal monthly subscriptions to stream shows.
  5. Cook at home – Going out for meals is not cheap and can add up quickly. Cooking at home can significantly reduce costs. Consider cooking in bulk and utilize leftovers by freezing them or bringing them to work for lunch.
  6. Buy off-brand – Buying off-brand at grocery stores can add up to significant savings over time. There is often little to no difference between brand and off-brand products. You can also save by buying generic or store brand drugs. Talk to your doctor about less expensive alternatives to name brands.
  7. Cancel gym memberships – Go for a run outside or hop on a bike trail and lift weights at home for a cheaper option to exercise.
  8. Turn off the lights – Don’t forget to turn off lights each time you leave a room.
  9. Insurance policies – Whether you are looking for health, life, property or auto insurance, this should always be shopped, and checked periodically to ensure you are getting the best rates. Many insurance companies offer bundled discounts.
  10. Clothing – Buy clothes out of season when stores discount them.

About American Consumer Credit Counseling

American Consumer Credit Counseling (ACCC) is a nonprofit credit counseling 501(c)(3) organization dedicated to empowering consumers to achieve financial management through credit counseling, debt management, bankruptcy counseling, housing counseling, student loan counseling and financial education concerning debt solutions. To help consumers reach their goal of debt relief, ACCC provides a range of free consumer personal finance resources on a variety of topics including budgeting, credit and debt management, student loan assistance, youth and money, homeownership, identity theft,  senior living, and retirement. Consumers can use ACCC’s worksheets, videos, calculators, and blog articles to make the best possible decisions regarding their financial future. ACCC holds an A+ rating with the Better Business Bureau and is a member of the National Foundation for Credit Counseling® (NFCC®). For more information or to access free financial education resources, log on to or visit