No matter how hard we try to prevent it, our expenses keep on increasing. Each new expense increases our cost of living. To manage this ever-increasing cost of living, most people use credit. Ultimately, this results in more debt, making our life even tougher. Let me be very clear: there are no short cuts when it comes to managing your cost of living. There are only two legitimate ways of effectively managing your cost of living: decrease expenditure or increase income. If you choose to do the former then the very first thing that you need to do is create a budget.

Once you’ve created a budget, you’ll know exactly what you spend on and how much. This will allow you to curtail or eliminate unnecessary expenses. This in turn will allow you to lower your cost of living and increase savings. To help you manage your expenses and increase savings, following are 4 tips to lower your cost of living recommended by credit counselors.


Most of our monthly income goes towards the payment of utility bills. This is especially true for people with big houses. Even if you live in an apartment, utility bills are going to be a major monthly expense. The good thing is that you can lower the cost of utilities by making small changes including turning off the lights and electronic devices in your house when you’re not using them. By conserving energy, you will lower your monthly utility bills.

Always visit the grocery store with a list

A mistake that most people make is going to the grocery store unplanned. When people go to grocery store without a shopping list, they tend to spend more than they need to. This increases the monthly grocery expense which in turn increases the cost of living.

Find ways to lower your housing costs

For most people, housing is the largest expense. If you’re one of them then you must find ways to lower your housing costs. Now, if you live in a rented property, make sure that the house you’re living in is something you can afford. If not, move to a smaller house in the same vicinity or simply shift to a cheaper neighborhood. On the other hand, if you’ve mortgaged your home, rent out any space that you can in your house. Apart from helping you to pay for your mortgage, this will allow you to take care of your other expenses.

Consolidate all your debts into a single loan

There are ways for you to consolidate all your debts into a single loan. By doing this, you will lower the debt you have to pay each month. This will turn will allow you to lower your cost of living.


Lowering the cost of living can be a real challenge. However, by connecting to a credit counselor, you can make this task easy.