Are you waiting for some big life-changing experience to get your finances in order? If so, you’re probably not alone.
According to Ramsey personality and podcast host Rachel Cruze, “One thing that I have seen over and over again with people that decide to take control of their money is that their big life change almost never happens because they wake up one day with a random financial miracle.” Instead, she said, they transform them with small changes in their day-to-day habits.
Here’s a look at four frugal habits she recommended to cut your expenses in half.
Shop Strategically
Cruze said where you shop can make a huge monthly difference for your finances – talking about things from groceries to pharmacies.
When it comes to groceries, try more budget-friendly stores and look for generic and store brands.
Eat at Home
Here’s a challenge: Try not going out to eat for a month. Then, look at how much money you save by eating at home.
If you try this for a month, do some meal planning and find ways to use ingredients for multiple meals, you may find it gets much easier as time goes on.
Cut Out the Extras
This is more of a personalized action to take. Figure out some extras that are costing you money in your weekly or monthly budget.
Cruze gives examples such as browsing your favorite clothing store or making a grocery run to your favorite store for fun. This habit is all about cutting back on your methods of comfort shopping. Instead, it’s going shopping for what you truly need.
Eliminate Some Subscriptions
You may have more subscriptions than you remember – and that’s like money out the door each month without you remembering it. According to Bango, the average American has 4.5 subscriptions and pays more than $920 per year.
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