43% of Gen Zers Are Making This Change to Combat Rising Living Expenses

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Sometimes, you need to adjust your habits to cope with higher costs. Read on to see what younger Americans are doing in light of inflation. 

Although inflation isn’t quite as rampant these days as it was back in 2022, many Americans are still feeling the strain of higher living costs. This extends to members of Gen Z, who may not be as established in their careers and, as such, may be grappling with lower wages.

Now inflation has impacted consumers in different ways. But one thing it’s done consistently over the past couple of years is drive up the cost of restaurant meals. In fact, in November, the cost of restaurant food was still up 5.3% on an annual basis, according to that month’s Consumer Price Index. And while grocery prices remain elevated, too, they were only up 1.7% last month.

As such, it could pay to start making more of your food at home if you’ve been struggling with higher living costs and are tired of raiding your savings account just to keep up with basic expenses. In a recent Bank of America survey, 43% of Gen Zers said they’ve been cooking at home more frequently, rather than dining out. And 90% say they plan to maintain this lifestyle change in the next year.

You may be interested in doing more cooking to save on food costs, too. But if you’re not so experienced in the kitchen, that might seem daunting. Here’s how to ease in.

1. Don’t expect to become a gourmet cook overnight

If your culinary skills as of now are limited to making scrambled eggs and toast, then you’re probably not going to go from that to suddenly whipping up plates of restaurant-style duck confit. And that’s okay.

It’s important to set reasonable expectations about the meals you’re capable of preparing — and the meals you actually have time to prepare. So rather than push yourself way outside your comfort zone, browse some recipe sites online and come up with a few dishes at a time you think you can handle. Consider basic dishes like pastas, chicken breast, and rice and beans while you’re working on your skills.

2. Do some meal planning

Planning out your meals in advance can help you grocery shop more efficiently. At the start of the week, figure out what meals you’ll make and how much leftovers each recipe will yield.

It’s also a good idea to see what’s on sale at your local grocery store and then plan your meals based on that. If a vegetable you like is marked down substantially, for example, you have an opportunity to buy it and have it be the star of the dish you’re making. That may not be as feasible when that item goes back to its full price.

3. Turn to meal kits to get started

If the idea of going it alone in the kitchen is truly overwhelming, as a starting point, consider subscribing to a meal kit service for a few months. You’ll generally pay more for meal kits than you will for store-bought groceries. But the upside is that these kits come not only with the ingredients you need to whip up different dishes, but clear step-by-step instructions.

Once you’re more comfortable in the kitchen, you can ditch those meal kits or try to emulate the recipes you’ve been making. But starting off with meal kits is a reasonable approach if you’ve really never cooked before. And it’s apt to be cheaper than dining out.

Clearly, Gen Zers are rolling with inflation by spending more time in the kitchen. Do the same, and you may find that your personal finances are suddenly easier to manage.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.Bank of America is an advertising partner of The Ascent, a Motley Fool company. Maurie Backman has positions in Bank of America. The Motley Fool has positions in and recommends Bank of America. The Motley Fool has a disclosure policy.

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