A Free CFPB Worksheet Lets You Check Off Only the Savings You’d Do

The Consumer Financial Protection Bureau offers a free, fillable worksheet called “Cutting expenses.” It is a checklist of ways US households can trim everyday costs, from car upkeep and groceries to phone and energy bills. The bureau’s toolkit page was last modified on April 24, 2026.¹²

The worksheet belongs to the bureau’s Your Money, Your Goals toolkit, a set of 43 tools and handouts now offered as individual PDFs. It is listed under “Paying Bills.”² The toolkit was built for educators, social-service staff and volunteers who work with clients, but the bureau describes the worksheet as a resource for the public.¹

The pitch is simple. “Finding ways to reduce your expenses can help you better afford the necessities you can’t live without,” the worksheet says. “It can also give you more money every month to save for your goals.”¹

It is also candid about its limits. Not every tip will apply to everyone, and the bureau acknowledges that some people may still come up short on bills after cutting back, especially if their work hours are reduced or they are temporarily out of work.¹ It is an educational tool, not a substitute for an accountant, a financial advisor or another qualified professional.¹

Here is how to use it this week.

Related: Paying Off Debt Comes Down to Whether You Run on Math or Momentum

1. Read the list and check only what’s realistic

The worksheet asks you to go through each category, decide which ideas you could actually commit to, and check those off. There is also an “Other” line for your own ideas.¹

2. Hunt down the fees

Look at whether your accounts charge maintenance, ATM, overdraft or check-cashing fees, and research lower-fee or no-fee options. A credit card with no annual fee, or a lower one, is on the list too.¹

Late fees get their own section. Pay on time to avoid penalties, and try asking for a new due date on some bills so they better match your income.¹ The car section adds that renewing your license and registration on time avoids late fees as well.¹

3. Look at food and shopping

Bring lunch to work, look for restaurant deals like “kids eat free” nights (after checking what’s actually included) and skip fountain drinks, which earn their own line on a federal worksheet.¹

For groceries and supplies, the bureau suggests coupons and splitting bulk purchases with family or friends, but only when the cost per serving actually comes out lower. Clothing and furniture can be bought second-hand or on sale.¹

4. Check whether you qualify for help

The worksheet suggests finding out whether you are eligible for energy assistance, weatherization programs or discounted utility rates.¹ Eligibility depends on income or benefits. Under US Department of Energy guidelines, households at or below 200% of the poverty income guidelines, or receiving SSI, are eligible for weatherization services. Renters can apply as well as homeowners, and states and localities set the details.³

The same goes for phones. The federal Lifeline program gives qualifying consumers up to $9.25 a month off phone, internet or bundled service, or up to $34.25 on qualifying Tribal lands, with one discount per household.⁴ The worksheet links to Lifeline’s eligibility information.¹

5. Review your insurance carefully

The bureau suggests comparing rates with other companies, asking about discounts for bundling home and car coverage, and asking about a good-student discount for a young driver.¹

It also suggests raising your car-insurance deductible to lower your premium.¹ Keep in mind that a higher deductible means paying more out of your own pocket if you file a claim, so weigh that before switching.

6. Trim the extras and the upkeep

Cancel gym or discount-store memberships you don’t use. Ask TV and internet providers about cheaper plans, consider dropping cable or streaming services, and look at prepaid or fixed-rate phone plans.¹

At home, set the thermostat lower in winter and higher in summer, and unplug appliances you aren’t using. Regular oil changes and properly inflated tires can help reduce car repair expenses.¹

7. Share the plan and start

The last step is to share the checked-off options with everyone in your household and start putting them into practice as soon as possible.¹

No single box on the list will fix a budget on its own, but a few checked ones can add up to a little more breathing room each month.