Are you looking to save money or reach specific financial goals? Money experts often suggest various strategies for doing so, but how effective are these solutions?
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Let’s dive into how much you can really save utilizing the frugal habits of Mark Cuban, Suze Orman and other money experts.
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Eliminating Morning Coffee
Do you religiously stop by and grab a coffee on your way to work every morning? Suze Orman might argue eliminating the expense is one simple way to save hundreds annually. The average price for a regular cup of coffee was $3.08 in 2024, with a cold brew averaging $5.14 and a latte averaging $5.46. Let’s say your order is right in the middle at $4.50 per cup. Stopping every weekday equals about $22.50 per week. Annually, you would spend $1,170 on coffee. Even if you don’t want to completely eliminate coffee, cutting your trips to two days a week could save $702 each year.
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House Hacking
House hacking, also known as living with a roommate or multiple roommates, is a money-saving strategy that cuts down one of your most significant expenses — housing. Financial experts like Dave Ramsey have addressed this in the past, but can it really save you much money?
In February 2025, the average rent price in the United States was $1,605, according to Redfin. Let’s say you own a 2-bedroom home with a $1,600 monthly mortgage. Although you might be able to afford the house yourself, adding a roommate who pays half could save you $800 per month — that’s $9,600 per year.
Coupon Cutting
Coupon cutting can be tedious, leaving you to wonder if it really saves money. Experian estimated that the average family saves $5 to $10 weekly with coupons. Let’s say you’re a coupon guru and save $10 per week by cutting a few coupons. On an annual basis, this is $520 in cost savings. What could you do with an extra $500 in your account?
Buying in Bulk
Bulk stores like Costco and Sam’s Club can seem like a waste of money, especially if you have a smaller family. However, financial expert Mark Cuban still considers it a great way to invest your money wisely.
Let’s consider an example. At Walmart, a container of Oikos Triple Zero yogurt costs $1.27. At Costco, an 18-pack of the same yogurt costs $13.48, or $0.75 each. Buying in bulk saves $0.52 per yogurt container, or $9.38 on 18 containers. These types of savings can add up throughout the year.
Taking On a Side Hustle
Money experts are constantly talking about starting a side hustle to earn extra income. Is the time spent really worth it? The average side hustler makes an average of $1,122 each month, according to Side Hustle Nation. This adds up to $13,464 per year. Although starting a side hustle can take time, the extra cash each month might make it worth it.
The Bottom Line
These five frugal habits can help you reach your financial goals. Not every one will be best for your lifestyle, but it’s still important to find sustainable frugal habits as opposed to ones you pick up for a month and then quit.
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This article originally appeared on GOBankingRates.com: 5 Frugal Habits of Mark Cuban, Suze Orman and Other Money Experts That Save Money
