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Day 7: 7 Day Finance Sprint

Day 7: Cutting back

Whatever your SMART money goal is , cutting back on expenses is key to getting there.

1. Take 72 hours to consider any big purchases. If it's over $100 or $150, give yourself some time to think it over before pulling the trigger. This will help you avoid impulse buys and ultimately save you money.

2. Quit your Starbucks habit. We know, We know, this one is tough. But did you know that spending $7 a day on coffee adds up to over $2,500 a year?! That's insane. So, try making your coffee at home or bringing it with you from home. Your bank account will thank you.

3. Sell stuff you don't need anymore. We all have those clothes, gadgets, or furniture items that we never use. Instead of letting them collect dust, sell them on websites like eBay or Facebook Marketplace. You'll declutter your space and earn some extra cash.

4. Cancel subscriptions you don't use. Do you really need that gym membership, magazine subscription, or streaming service? Probably not. Take a look at your monthly subscriptions and see which ones you can do without.

5. Pack your lunch and snacks for work. Eating out every day can add up quickly. If you spend about $15 each workday on lunch, that's over $5,000 a year! Instead, try meal prepping or bringing leftovers from home. Your wallet and your waistline will thank you.

6. Plan out your meals for the week and shop accordingly. Going to the grocery store multiple times a week can lead to overspending. Instead, plan out your meals in advance and buy all the groceries you'll need at once. It'll save you time and money.

7. Quit bad habits. We are not here to lecture you, but let's be honest: smoking, drinking, and partying all cost money. If you can cut back on these habits even a little, you'll see a positive impact on your bank account.

8. Unsubscribe from shopping emails. We all know how tempting those "20% off" emails can be. Avoid the temptation altogether by unsubscribing from those mailing lists. Trust us, your wallet will thank you.

9. Use coupon codes when you shop online. Before making any online purchases, do a quick Google search for coupon codes. You might be surprised at how much you can save.

10. Buy non-perishable items in bulk. Things like toilet paper, paper towels, and cleaning supplies can be much cheaper when bought in bulk. It'll save you money in the long run.

11. Cook at home instead of eating out. Going out to eat is a luxury, not a necessity. Try cooking at home more often and you'll see a big difference in your monthly expenses.

12. Pay off your credit card in full each month. This one is important. Carrying a balance on your credit card can lead to steep finance charges. Make it a priority to pay off your balance in full each month to avoid those extra fees.



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