This Underrated Savings Hack Could Change Your Life, According to Rachel Cruze
Written by
John Schmoll
Edited by
Rebekah Evans
Commitment to Our Readers
GOBankingRates' editorial team is committed to bringing you unbiased reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our products and services review methodology.
20 Years
Helping You Live Richer
Reviewed
by Experts
Trusted by
Millions of Readers
Bureau of Economic Analysis survey data shows that Americans saved a mere 4.6% of their disposable income in January 2025. Current economic headwinds make it a challenge for many families to save anything. Combined with the consumer culture that preaches a buy-it-now philosophy, wealth creation can be a struggle.
In a YouTube video, money expert Rachel Cruze shared one overlooked savings hack that can dramatically improve your finances. Even if you struggle to save, you can adopt this habit to boost your finances and achieve goals.
Why Patience Is a Game Changer With Money
American consumerism often doesn’t promote delayed gratification. Products are marketed to people with little thought of whether the item is a wise purchase. Cruze discussed several instances where patience helped her family from wasting money on things they didn’t want or aided them in getting what they truly wanted.
Saving for each purchase was paramount for Cruze’s family as it provided options. “You make bad decisions when you have limited options,” Cruze said, as she discussed a purse she saved for but held off when it came time to purchase. The reasoning was simple: it wasn’t the exact type of purse she wanted. Holding off kept her from wasting money.
She recounted a similar situation where her family saved for a car. They wanted an SUV, but with young children she feared that she would be concerned over messiness in the expensive car. When the time came to purchase a car, they opted for a minivan as it was more affordable.
Because they waited and saved cash for the purchase, they had power to make a wise decision. “When you have patience and save up and pay for things and cash is on your side, suddenly the urgency goes down and you have the ability to make possibly other decisions you would have made differently if you were not only using debt, but you were in an urgent situation,” Cruze added. The item’s price doesn’t matter as saving for it amplifies your patience.
How To Get What You Want Guilt-Free
Saving for irregular expenses or one-time needs can be challenging within a budget. Sinking funds provide a good way to eliminate the challenge and can be used for anything from vacation planning and gifts to a new car, according to CNBC.
“When it comes to big purchases … slow down, save up, have the patience to get what you want because you’re going to have so much more peace at the end of that decision,” Cruze added.
Determine the amount necessary for the item, include it as a line item in your budget and put aside money in a high-yield savings account monthly until reaching the amount you need. This gives power to purchase when you want and avoid debt, particularly when it’s a long-term purchase.
Patience Fuels Wealth Creation
Managing money is a mindset. Delaying gratification is a key driver to building wealth. According to Forbes, this desire to delay instant gratification is how many self-made millionaires build wealth.
“There’s a level of instant gratification that a lot of us just live in and over time, you end up spending so much money on that — it doesn’t even make you happy long-term,” Cruze said. Not only does this patience help stymie overspending, it allows you to afford items you want and build wealth over the long haul.
Patience isn’t always fun when delaying purchasing an item you want, but it empowers you to make wise decisions. As a lifestyle, this practice can be a game changer and catapult wealth creation.
More From GOBankingRates
Sources
- Bureau of Economic Analysis, “Personal Income and Outlays, January 2025.”
- Rachel Cruze, “3 Times This Underrated Savings Hack Changed My Life.”
