American households are facing a challenging economic reality, in which millions of people across the country are struggling to cover the cost of necessities on their current income, or as we like to say, “making ends meet.”
A new study from Brookings confirmed that one-third of middle-class families in the U.S. cannot make ends meet. They also show that nearly 40% of households have struggled for at least a decade, with a sharp post-pandemic decline in affordability and persistent disparities by race.
In nearly every year from 2014 to 2024, more than 40% of American households have struggled to make ends meet.
The study also notes that the only way to meaningfully combat the growing affordability crisis is to increase income and paychecks, so if you are struggling, then you should definitely be looking for a new job, a way to increase your income, and start lobbying and voting for policymakers who can make meaningful changes in this area.
But until that happens, we can help with cutting your expenses and helping you make your paycheck last a little longer.
Use Coupons and Cashback Apps
I know this is cliché, but that is because it works. Spend some time downloading cashback apps and looking for coupons at your favorite stores. You would be shocked at how easy it is to save money once you get the hang of couponing effectively. Do a little research on Facebook and Reddit to see how to make this the most effective.
Right now, the two coupon and cashback apps that I use daily are Ibotta and Fetch.
Cancel Your Subscriptions
You don’t need them. You really don’t. Cancel all your delivery apps and keep one entertainment app. Y
ou don’t need Netflix, Hulu, Disney, HBO, and Audible. Keep your favorite, and then if you really want to watch or listen to something, you can sign up for a limited time. And don’t forget the library has free audiobooks as well as books!
Eat Less Meat
Meat is expensive and getting more expensive. Start cutting down on the meat you eat and start eating more beans, lentils, and rice instead. Not only is it much, much cheaper, but it is also healthier.
Cook at Home
It’s okay to enjoy a restaurant meal with your loved ones now and again, but you don’t need takeout every night or for every little treat.
All these meals can add up quickly. Yes, you do have McDonald’s at home, and stop pretending otherwise.
Stop Buying New Things
There are things that you might need to buy.
But make sure that your first step is to try to get it for free or secondhand. Join neighborhood Buy Nothing groups or Giveaway groups and see what you can get for free before going to yard sales and thrift stores.
You would be shocked at how many things you can get for free or for next to nothing if you put in a little effort.
