Approximately 69 percent of Americans have less than $1,000 saved, and that includes many close to the age of retirement. Housing and rent prices are at all-time highs, and most paychecks do not leave much for random buys, and many of us enter the workforce owing great amounts from student loans. Therefore, saving anything from the paycheck seems impossible.


A tangible savings strategy is attainable, and can be simple with a few little ideas. Basically, we waste money on convenience, says former CNBC host and personal finance maven Suze Orman.

The average household spends most of its money on housing, transportation and meals.

Housing and transportation costs aren’t as flexible as food costs, which account for 12.5 percent, or just over $7,000, of the average budget, according to the Bureau of Labor Statistics. Many of us are victims of costly convenience when we purchase a meal.

  1. Pay cash.

I’ve heard it time and again, studies show that people who use cash save 12 to 18 percent. McDonald’s reports its average check is $7 when people use credit cards, versus $4.50 for cash. A budgeting tool is to leave your charge cards at home. Grocery store shopping with $60 cash eliminates purchasing those whim items you see when you are there.

Cash is physical. We are removed when we insert our credit cards.

  1. DO NOT buy more than you need. 

My mom does this all the time, and does not eat it before it expires. Most households trash an average of $2,200 of food each year, according to a report from the National Resources Defense Council.

The majority of wasted food is fresh fruits and vegetables. Therefore, pay attention to dates and the quantity of perishable food.

Buying only what you know your family will consume is key. dust. No B.S. Just a completely essential daily guide to achieving the

  1. Dining Out: Order less and share more.

The average household spends $3,008 annually on eating out, dining out, the Bureau of Labor Statistics reports. If dining out versus cooking at home is draining your account, let’s rethink this.

Restaurants can empty a pocket easily. Drinks specifically have gone up tremendously in our culture at $2-$3 each. A family of five has spent over $10 before they even eat! So, in order to maintain your current status, you can continue to eat out, but take steps to spend less when you do. You can share a meal, as most are too large for one person anyway. Drink water and avoid alcoholic beverages.

  1. Save dining out for special occasions.

Growing up, we ate out once a month or so and it was a big deal!

Restaurants are going to cost more than cooking at home – period. So, when you spend $15 on a meal, the food probably cost $5. Restaurants are more expensive due to labor costs, service overhead, and business expenses.


  1. Eliminate or ration your food deliveries and to go orders.

The average person eats approximately 18 meals a month. Think about office lunch deliveries, food trucks, picking up to go on the way home, pizza delivery, etc.

These cost about $12.75 each, according to the Bureau of Labor Statistics. Pledge to utilize these conveniences six times a month, instead of 18. This saves you a wad of cash, and is most likely healthier.