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How to Lower Your Cost of Living – Fast!!

If you’re living paycheck to paycheck, struggling to save, or wondering why your money seems to disappear each month, this one’s for you.

It’s not always about earning more – it’s about knowing where your money is leaking. Sometimes, it’s not even the big bills. It’s the “every now and then” habits that quietly drain your account.

So let’s break down a few things to stop buying, or at least seriously scale back on, if you want to lower your cost of living for real.

1. Scale Back on Extracurricular Overload

Let’s start with something people don’t talk about enough: extracurriculars.

I saw a video recently of a woman saying her family was living paycheck to paycheck with no savings and no extra money at the end of the month. But then she listed some of her monthly expenses… and each of her kids were in like three activities. Plus she was doing other monthly commitments herself. And listen, I’m not judging – but be for real.

Activities are great. Structure is great. But if your household is financially stretched thin, you have to get honest about what’s necessary right now versus what’s nice to have. You don’t have to cut everything out, but even scaling back can make a big difference.

Pick one or two activities per person instead of three or four. See what’s available for free or low-cost through local community centers, schools, or libraries.

Not everything has to cost $80 a month per kid. Sometimes, saying no is the most responsible thing you can do, not just for your bank account, but for your peace of mind.

2. Audit Your Yearly Trips 

Now let’s talk travel. I say this with love because I believe in experiences. I preach experience over things all the time. But let’s be real, some of y’all are misapplying the advice.

Experience over things doesn’t mean taking six vacations a year when you have no savings. It doesn’t mean flying out every other month while racking up credit card debt.

Experiences don’t have to be expensive. Explore a nearby small town with a walkable main street. Go on a hike. Find a concert in the park or a free museum day. The goal is to live, not to prove you can live luxuriously while your finances are falling apart behind the scenes.

So audit your yearly travel. Look at how much you actually spend. Include the gas, food, lodging, activities, souvenirs – everything. Be honest about what you can truly afford. If it’s too much, scale back. You’ll thank yourself later. (Related: Download your mindful spending Money Mindset Bullet Journal — it’s your personal spending coach)

3. Start Using the 24-Hour Rule for Impulse Buys

Impulse spending will get you every time if you’re not careful. That’s why I swear by the 24-hour rule. If you see something you want, whether it’s in a store or online, wait 24 hours before buying it. I’m telling you, it’s a game changer if you actually do it.

Here’s the thing: You don’t have to buy everything you like.

Let me repeat that: You don’t have to buy everything you like.

This rule helps you stop buying on feelings and start buying with intention. Nine times out of ten, if you walk away and come back later, you won’t even want it anymore. And if you do still want it? Great, now you know it’s a purchase you actually value, not just one that caught you in the moment. (Related Video: How to Reset Your Spending Habits in One Month)

4. Cook More at Home – Seriously

Takeout is convenient, but convenience is expensive. If you’re ordering food three or four times a week, it adds up fast. One of the easiest ways to lower your cost of living is to cook more meals at home.

You don’t have to be a chef. You don’t even have to cook every night. Personally, I suggest bulk cooking at the beginning of the month and freezing meals for those “I-don’t-feel-like-cooking” nights. And here’s a tip: I use ChatGPT to help me figure out meals based on what I already have in the house. I just plug in what’s in my pantry, and it gives me recipes. No grocery run needed. No food waste. No extra spending.

5. Watch Out for “Just in Case” and “It’s Only” Buys

These two phrases? They’ll drain your account faster than you realize:

“I might need it just in case.”

“It’s only $5.”

If you hear yourself saying either of these while shopping, take it as your cue to put it back.

Just in case usually means you don’t have a real plan for it. And “it’s only” adds up when you say it often enough. $5 here, $12 there, $7 next week… before you know it, you’ve spent hundreds on things you don’t even use or remember buying.

Intentional spending means asking: Do I really need this? Or am I just trying to justify it? (Related video: Underconsumption 101)

6. Track the Small Stuff – It Adds Up Fast

Here’s the part that shocks people: it’s not always the big purchases draining your account. It’s the little ones you make every day without thinking.

That pack of gum, the bag of chips, a soda here, a cheeseburger there. If you do this every day or even every other day, it adds up fast. And if you don’t believe me, pull up your credit card or bank statement. Scroll through all the small, mundane purchases and add them up. I did this once thinking I only spent maybe $40 on little extras that month. The real number? Almost three times that.

Because again, $2 here, $6 there, $8 at the drive-thru, it doesn’t feel like a lot. But those micro-spends are sneaky, yet they’re one of the easiest places to cut back without feeling deprived. So start tracking.