Budgeting doesn’t have to feel like you’re ‘signing up to suffer.' These low-effort money hacks can still help you reach your financial goals

Winnie Sun, co-founder of Sun Group Wealth Partners, sees the same pattern with almost every new client. The moment the word "budget" comes up, people assume they're signing up to suffer, she told CNBC in a 2024 interview. "It's sort of like telling someone they need to diet and eat healthy," said Sun. For most consumers, the concept alone is overwhelming enough to stop them before they start (2).

If you’re feeling overwhelmed and demotivated, you could try some of these simple and low-effort money hacks to improve your finances without a formal written plan for every month or year.

1. Autopilot your investments

This isn’t just a money hack, but a psychological hack too. The best way to stay disciplined may be to take personal will power out of the equation entirely. Many emerging fintech startups and personal finance apps let you save a portion of your paycheck every month, invest a fixed amount of money in index funds or stocks and round-up purchases to find small savings.

These helpful automations don’t eliminate the need for budgeting, but they can make your personal finances a lot better if you’re operating without a formal plan.

“Your main savings strategy should be to switch from having to remember to save a small amount every month to saving a percentage of your income automatically, any time you receive income,” Wendy De La Rosa, a behavioral scientist at the University of Pennsylvania, told CNBC (3).

2. Start utilizing subscription service audits

The average American spends a whopping $1,080 on subscription services every year and roughly $200 of that is on unused services, according to a CNET survey conducted by YouGov. For many families, this is a sizable and invisible leak on their finances (4).

If setting a clear budget for subscription apps is too much effort, you could routinely conduct an audit of your recurring expenses to eliminate the ones you’re no longer using.

3. Incorporate a cool-down period for large purchases

One in four American homebuyers admitted to going over their budget while buying their home, according to Zoocassa (5). Similarly, you’re likely to overspend on home appliances, cars or renovations. Each instance of overspending on a big-ticket item can offset months or even years of careful planning and budgeting.

With this in mind, you could implement a cool-down policy for every major purchase. For instance, waiting 24 or 48 hours before completing the purchase of anything over $10,000. This waiting period doesn’t fully eliminate the chances of overspending and buyers’ remorse, but it does minimize the chances and give you enough time to think before a long-term commitment.