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Too often, people (myself included) focus on cutting small expenses from their budget instead of going after big financial wins. We’ve all heard how dropping Starbucks lattes and avocado toast from our daily routine is the solution to paying off tens of thousands of dollars in student loan debt or building a million-dollar investment portfolio. Yes, making these kinds of changes can help, but they won’t have as significant an impact as learning how to save money on your biggest monthly expenses.
In this episode, you’ll learn how to save money on the Big 3 Expenses. Generally, the Big 3 Expenses, or the three largest expenses for a household are:
In This Episode, You’ll Learn:
Ways to reduce or eliminate monthly housing costs
The benefits of driving a used car
Tips for slashing your weekly grocery budget
Catch These Must-Listen Moments From The Episode
[03:08] The hidden costs of home ownership
[06:36] The realities of cutting coupons to save money
[09:31] Other large costs beyond the Big 3 Expenses
Resources to Check Out
- The Fioneers Ultimate Guide to Buying Food in Bulk
- Earn high-yield savings with a CIT Bank Savings Connect Account
- How To Track Your Spending
- How Sinking Funds Can Help You Reach Your Savings Goals
- Best Budgeting Apps For Families In 2023
- What Is The Anti-Budget?
- Our Favorite Rewards Credit Cards
Financial Resources If You’re Facing Hardships
- How To Negotiate Medical Bills For Less Than You Owe from Inspired Budget
- Call 2-1-1: United Way service that finds local services for individuals and families in need
- U.S. Department of Housing and Urban Development: Housing assistance
- Low Income Home Energy Assistance Program (LIHEAP): Financial assistance with utilities
- Supplemental Nutrition Assistance Program (SNAP): Supplemental nutrition assistance
- Lifeline: Phone or internet service financial assistance
- Patient Advocate Foundation: Healthcare financial assistance
- Working Cars for Working Families: Vehicle financial assistance
- National Foundation for Credit Counseling (NFCC): Low or no-cost credit counseling
- Take Charge America: Non-profit debt management and credit counseling services
- Temporary Assistance for Needy Families (TANF): Temporary financial assistance for families
Connect With Us
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Kevin Payne is the budgeting and family travel enthusiast behind FamilyMoneyAdventure.com. He’s also the host of the Family Money Adventure Show podcast, where he helps families learn to manage their money better so they can afford to do the things they love.
Kevin is a freelance writer specializing in personal finance and travel. He is a regular contributor to USA Today, Forbes Advisor, Bankrate, Fox Business, Credible, and CreditCards.com.