- Rachel, 35, followed in her dad’s footsteps by becoming a financial expert
- She frequently shares money budgeting tips online
- Recently, she revealed the five habits you should pick up to save money
Finance guru Dave Ramsey’s daughter Rachel has revealed the five frugal habits that will help you cut ‘your expenses in half’ – from no eating out to canceling your subscriptions.
The 35-year-old – who works with her dad as a financial expert – followed in his footsteps by becoming a money and budgeting pro.
And just like her father, 63, Rachel also gives out the best financial tips to keep your bank account in the best shape possible on social media.
Recently, the Tennessee expert lifted the lid on how you can bring your costs down as she revealed that comparing yourself to others and only looking at one store when you’re getting ready to make a big purchase will leave you struggling.
Rachel shared the various ‘frugal’ habits you should take up in a YouTube Short.
At the beginning of the video, she said: ‘Here are five frugal habits to help you cut your expenses in half.
‘First and foremost, subscriptions. The average millennial has 17 subscriptions. If you want to save some money, cut those subscriptions out.’
Next, she advised viewers to shop around before making big purchases.
She explained that you should never buy something before seeing how much it costs at multiple stores.
Rachel told people on the web to always ‘price compare.’
‘Number three, going out to eat. This one hurts my heart a bit,’ she said.
Rachel noted that while she loved dining out, it was much cheaper to buy groceries and cook.
For her fourth tip, Rachel told viewers to stop buying ‘extra’ stuff.
She noted that while she loves picking up a ‘lipstick or a hair clip,’ they weren’t needs and they added up.
Her last tip was more of a ‘heart issue.’ ‘It’s comparison. We are all naturally going to compare, but don’t let other people’s lives dictate what you purchase,’ she said at the end of the video.
In the past, Rachel spoke about how you should plan ahead for soaring costs of living.
With costs skyrocketing and no end in sight for the inflation crisis, the Ramsey team continually underscored the importance of writing and maintaining a personal budget.
Rachel said: ‘You want to be able to say: okay, I’m going to plan ahead of time, I’m not going to let this sneak up on me.’
‘So doing a budget, again, is huge when it comes to this … So be diligent and also be honest with your friends and family. Like if inflation has hit you and you’re tight this month, right, or next month at the end of the year, be honest about that and just say: “hey, Christmas may look different.”‘