Posted on August 18, 2024

Lately, we've all been feeling the pinch as the cost of food and services continues to rise. It can be tough to keep up, but there are practical steps you can take to make your money go further and ease some of that financial pressure.

1. Cut Back on Eating Out:

Eating out adds up quickly, especially with prices going up. Cooking at home more often can save you a lot, and it doesn’t have to be complicated. Try recreating your favorite restaurant meals at home—it’s cheaper and can be a fun challenge! Also, leftovers can be packed up in a container to a quick grab and go lunch for work the next day! See tip #2 for ideas on how to cook on a budget!

2. Meal Planning and Smart Shopping:

Planning your meals ahead of time can make a big difference in your grocery bill. Create a shopping list of needed items and always shop your pantry/fridge first! Stick to a shopping list to avoid those tempting impulse buys, and keep an eye out for sales, coupons, and store brands. Buying in bulk for non-perishables can also save you money over time.

Frugal Fit Mom

SuperCook - Zero Waste Recipe Generator for Desktop PC

SuperCook Recipe By Ingredient on the App Store (apple.com)

Struggle Meals - YouTube

3. Review Your Subscriptions and Services:

Subscription Services, while convenient, can quietly drain your budget. Look at all those subscriptions and services you’re paying for – such as streaming services, monthly boxes, or apps and cancel any that you don’t regularly use or need anymore. You know you probably don’t use all 5 streaming apps you subscribe to. Also, shop around every year for better deals on essentials like insurance, internet, and phone plans—sometimes, just asking can get you a discount.

4. Look at your Home’s Energy Efficiency:

Energy costs can spike during peak weather months, but small changes can help. Replace old light bulbs with LEDs, unplug unused electronics, and consider installing a programmable thermostat. Simple adjustments like these can lead to noticeable savings on utility bills. In fact, most electric companies will come out and perform a free home energy audit and can recommend multiple ways you can improve your home’s energy efficiency, which equals saving money on your bill.

5. Adjust Your Budget:

Finally, take another look at your budget. With prices on the rise, you might need to shift some spending around to cover the essentials first. Regularly tweaking your budget helps you stay on track and make sure your spending aligns with what matters most to you. If you don’t already do so, I highly recommend having a realistic written/typed budget that you revise for every pay period or every month (whichever works better for you).

By taking these steps, you can manage rising costs and keep your finances on track. It’s all about being proactive and making your money work harder during these challenging times. If any of these ideas resonate with you, why not give them a try?

Cutting expenses is just one small piece of what I help my clients with when we work together in our 1 on 1 coaching sessions. We are going to work strategically to reduce your monthly expenses, but I’m also going to help you streamline how you manage your day-to-day money, so it feels less stressful and less reactionary. We’re going to look at ways to optimize your savings. We’re going to be strategizing about how to approach the goals you have for your life, and all of this starts with a Free 15-min phone call. Schedule Your Free Q&A Call