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When the costs we can't avoid absorb more and more of our household budgets, we have a difficult choice: spend the extra money (easier said than done) or find ways to cut back.

Right now that choice is playing out most visibly for drivers, with the price of gas up over $1 a gallon since the war in Iran started in late February. (In March alone, gas prices spiked more than in any month ever before.)

But other overhead expenses like electric bills and health insurance are also making life more expensive for many Americans. And groceries, despite easing slightly last month, still cost 30% more than before COVID. Staples like ground beef, lettuce, and tomatoes have risen by double-digit percentages just in the last year.

So how do you cope when these basic expenses are stretching you thin? According to the latest CNBC All-America Economic Survey, 61% of Americans are spending less “out” because of higher gas and food prices — cutting back on things like restaurant food, movies, and concerts. Fifty-two percent said they were spending less on travel, or planned to.

There are other ways to adjust, too, many of which don’t have to involve full-scale deprivation of any one thing.

If you’re not sure where to start, here are some tips (and stats) to inspire you.

Drive smarter and make fewer trips

•   Skip the “one thing” trip. That quick run for milk or takeout is one of the least efficient ways to drive, so try planning ahead to group errands together. Get this: Because driving on a warm engine burns less fuel, several short trips can use twice as much fuel as one longer trip covering the same distance, according to the U.S. Energy Department.

•   Avoid driving aggressively and turn off your engine when you’re waiting. Rapid acceleration and braking can reduce fuel economy by 15% to 30% on highways and 10% to 40% in stop-and-go traffic, according to the Energy Department. And idling can use between a quarter and a half gallon per hour, depending on your engine size and AC use.

Cut back on Starbucks and Doordash

•   Put a hard cap on takeout and coffee. The average household spent $3,950 on eating out in 2024, according to government data. That’s more than $75 a week on restaurant meals, takeout and food delivery. Just buying four fewer $5 coffees each week would free up $20 — about how much extra it costs to fill up your gas tank right now.

•   Swap to store brands where it doesn’t matter. Consumers can save at least a third the money on store-brand grocery items, according to the Private Label Manufacturers Association. The easiest switches are often pantry staples, pet foods, or paper goods.

•   Give yourself a pantry/freezer challenge. The Department of Agriculture estimates 30%–40% of the U.S. food supply is wasted — often because food simply isn’t used in time. Challenge yourself to make a meal from forgotten items in your pantry and freezer.

•   Have the first drink at home. Cocktails now average $13.61 a pop — or far more in cities like New York, The Wall Street Journal reported. This is why more people are “pre-drinking” to reduce their bar or club tab, according to the Journal.

Stop the hidden leaks

•   Do a 10-minute audit of your subscriptions. Market research suggests people spend about 2.5 times more on subscriptions than they realize. So check your credit card (or SoFi’s budget app) instead of relying on memory. You may want to scrap more than forgotten subs too. Do you really need Britbox and Acorn TV? Consider whether streaming services, delivery apps, rideshare apps, or news subscriptions are skippable, at least for now.

•   Flip from monthly to annual. If cash flow isn’t the big issue, take advantage of the discount often offered if you pay for a membership or subscription annually. For instance, Amazon Prime effectively gives you almost three months free if you pay upfront.

•   Try DIY. It doesn’t have to be all or nothing with conveniences; Start by doing one task yourself and see how you feel. Lawn care, housecleaning — even hauling your own trash to the dump — can cut a recurring bill.

•   Impose a 48-hour pause on nonessential shopping. One Good Housekeeping editor recently saved about $300 by waiting to see how badly she really wanted to buy stuff over the course of a month. Like her, you may find you’ve forgotten about whatever you wanted (or changed your mind) after two days.

Related Reading

7 Services I’ve Completely Stopped Paying For—and What I Use Instead (Good Housekeeping)

I Did This “Pantry Challenge” and Saved $152 in a Week (Now I’ll Do It Monthly!) (thekitchn.com)

5 Ways to Apply That Spring Cleaning Itch to Your Finances (SoFi)

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