5 Frugal Money Habits To Start Using Now as 2024 Approaches, According to Experts

2024 is coming up and as the New Year approaches, it’s time for you to start to think about New Year’s resolutions and the way you are going to act differently with your money in 2024. Here are some frugal money habits and behaviors you should start to think about adopting in 2024.

Start Budgeting

Anika Jindal, CPA, suggests that people make budgeting a priority in 2024. She says, “My best tip for frugal living going into 2024 would be to start budgeting. Many people don’t understand the power of creating a budget and how having a plan for how you want to spend your money is an eye-opener. It helps to see the expenses you can cut down on and put that towards saving.”

Start Eating at Home

Eating at home is not only the cheaper option but also usually the healthier one. 

John Dealbreuin, a personal finance expert at Financial Freedom Countdown suggests eating at home as the best frugal option. With the rising costs of dining out, cooking meals at home not only saves you money but is also great for your waistline. With increased healthcare costs both your health and wallet will thank you.

Tifanny from The Gracious Pantry is making this her frugal resolution, “My frugal decision is to stop eating out. It’s so expensive and most of the time, my home cooking is better anyway.

Use Locally Sourced Ingredients

going to cook at home more? take it one step further and start using locally sourced ingredients.

Bella Bucchiotti, food and sustainability writer at xoxoBella, says, “In 2024, my frugal resolution is to use more locally sourced ingredients in my cooking. I want to support local farmers and markets while enjoying the fresh flavors of my community, all without breaking the bank.”

Use Up What You Have 

Do you have a full freezer and pantry full of food? Especially after the spending blitz of the holidays, people might find themselves with a fully loaded freezer and pantry. Adriana Copaceanu from Recipe Idea Shop says she’s planning on using all that stuff up in January.

“I’m planning to use up all the food items I canned/froze over the last couple of years,” she said,  “That includes tomato juice, apple sauce, berry jelly, and more. It’s so easy to stuff the freezer and cupboards and then forget what’s there.  this will not only save us money in 2024 but will also help us make room and get more organized with our preserved food.”

Start a Money-Saving Challenge

One of the best ways to help yourself reach the money goals that you set for yourself is to start a money-saving challenge.  Having a set plan to help you save $1,000 is the best way to help you get started on the path to financial freedom. If you can join a challenge that has people who work with you as you work through the challenge then they can help keep you motivated and keep you on the right track.

Looking for a challenge to join?$1,000 Savings Challenge

Read More:

 

Hi! I am a millennial mom with a passion for personal finance. I have always been “into” personal finance but got inspired to start my blog after a period of extended unemployment. That experience really changed the way I viewed my relationship with money and the importance of accessible personal finance education.