39 Best Money Saving Tips

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We all know that we should be saving money, but the idea of saving money is much easier than actual implementation. Saving money can be hard until you get a rhythm and routine down. Whatever your reasons are for not saving, these tips will help you get started or make progress in your saving journey.

1. Avoid ATM Fees

ATM fees eat away at the money you could be saving. To avoid ATM fees, plan in advance for when you will need cash and go to your bank branch to withdraw it. You can also get cash back up to a certain amount at grocery stores.

2. Cut the cable

Cable is so expensive now and seems to only be getting more expensive.
Don’t be drawn in to the promo deals that cable companies offer for a limited time because once your promotion is up, your cable bill will go up as well. Cutting the cable and getting a subscription to Hulu, Netflix or SlingTV is a great way to watch your favorite shows for less than half the cost of cable. 

3. Make gifts instead of buying them

Gift giving doesn’t have to be expensive. Handmade gifts show that much love and thought were put into that gift. Browse Pinterest or Google to find the perfect gift to make, take a trip to your favorite craft store and get to work.

4. Use a shopping list 

Shopping list keep you focused on what you should buy and stops you from making impulse purchases. Planning your shopping trip around ads from stores will also save you money by giving you a heads up of what items are on sale.

5. Buy in bulk

Buying items in bulk whether staple household products or food can save you lots of money. You should only buy bulk items that you know you will use. Shop at stores like Sam’s Club or Costco to get the best bang for your buck or buy bulk items at your grocery store when they are on sale.

6. Meal plan

When you plan your meals in advance it allows you to inventory the ingredients you will need for each meal and then go grocery shopping to gather all the ingredients. Meal planning saves you money and keeps you from making multiple trips to the grocery store. It’s best to plan meals out for a week at a time. 

7. Buy generic products

If you’re brand loyal you may be wasting a lot of money. Oftentimes generic products are just as good as branded products and are mostly likely created by the same companies that created the name brand product. Buying generic products will save you a lot of money over a period of time.

8. Become a planner

When you plan things out you are able to compile a list of upcoming holidays, birthdays and dinner gatherings and create a budget for those different things. By doing this you can cut back on some of your leisure expenses and save for things you have coming up.

9. Avoid take out

Dining out is one of the most common categories where people spend a lot of  money. Whether it’s the morning coffee, the daily lunch run to the restaurant downstairs or the meal that you pick up on your way home from work. The small amounts of money spent on food throughout the day can quickly add up. Ditching take out and meal planning will help you save hundreds of dollars each month.

10. Pay cash for everything

It’s often been said that when you use a debit or credit card to pay for something it’s much different than using cash. When you use cash to make a purchase it’s really easy to see the money physically dwindling away. By paying for your items with cash you’re more conscious of what you pick up and purchase at the store and are less likely to make impulse purchases.

11. Use apps to save on groceries

Apps like Ibotta, the Target Cartwheel App and the Kroger app are great to use to save on groceries. These apps provide you with cash back opportunities or coupons to allow you to save money on your purchases.

12. Take advantage of after holiday sales

Once the holidays are over stores still have a ton of inventory that they need to get rid of in order to bring in the new stuff for the upcoming season. Usually these items are heavily discounted which means that you can score a good deal. 

13. Cancel unused subscriptions

You wouldn’t pay for something that you don’t want so why would you continue to pay for a subscription on a magazine that you never read, a gym membership that you never use or a Hulu or Netflix subscription that you never watch? The amount of these subscriptions may be small but can quickly add up to help you save hundreds each month.

14. Make your own lunch

Taking your lunch to work will save you plenty of money throughout the year and also ensures that you aren’t eating something that’s not healthy just to power through a few more hours at work. Leftovers or a quick salad are easy lunch ideas.

Check out 11 Quick, Simple and Easy Chicken Meals for lunch ideas.

15. Carpool or take public transportation

If you commute to work you may have noticed that you spend a lot on gas each week. Carpooling or taking public transportation takes the stress off of your car and saves you some money.

16. Become a patron to your library

You may be surprised to know that your local library offers more than just books to check out. With technology advances libraries offer online digital content, magazines, DVDs and so much more. Take a trip to your local library to save money and discover all the cool things they make available to cardholders.

17. Attend free events

If you like to go out to socialize try looking for free events in your community. Art nights, community gardens and movies in the park are just a couple examples of free events you can attend to save money. 

18. Eat less meat

Any type of meat product is likely to be pricey. Eating less meat will decrease the amount you spend on groceries each month and also decrease some health ailments that are associated with eating meat.

19. Limit your drinking

Ditching the wine and other alcoholic beverages for water or tea can save you tons of money. When dining out and you decide to get a drink, only get one because drinks at restaurants are usually overpriced.

20. Switch your bank account

If your bank charges you for a checking or savings account, then that account isn’t for you. Research some options online to find free checking and savings account. You shouldn’t be charged to have your money sit in an account.

21. Plan for lazy meal nights

At least once every two weeks I have a night where I don’t feel like cooking anything. Instead of going to a fast food place to grab something to eat, I always keep ready-to-eat frozen dinners or quickly made appetizers on hand. By planning for these nights you save money and won’t make  impulse purchases.

Related Post:

• 17 Successful Ways To Control Impulse Spending 
• 68 Most Important Budget Categories
• 17 Smart Ways To Build An Emergency Fund

22. Drink more water

Drinking water is cheaper than drinking soft drinks or juices. Buy a water filter to put on your faucet instead of bottled water which can quickly add up. You can likely find a coupon online or in your newspaper for a water filter.

23. Get car maintenance done regularly

Getting your oil changed regularly will prevent major car problems that arise from irregular car maintenance. Although you may hate to shell out money to get your car maintained, your car will thank you and last much longer.

24. Seal all air leaks

If you feel a draft in your home, likely there’s an air leak somewhere. Find those leaks and seal them quickly to save on your electricity bill and to keep pesky insects and rodents out of your home.

25. Change your air filters

The air filters in your home need to be changed regularly to provide clean air quality and to keep your system running efficiently. Air filters are very cheap and can be changed in less than five minutes.

26. Downgrade your phone plan

Overpaying for a phone plan is overrated. Depending on the number of phones on your line and your service provider, you should try to negotiate your phone bill down. If you can’t then downgrade to a service such as Straight Talk or Boost Mobile. These service providers operate on the same networks as the major carriers such as AT&T and Verizon and have the same coverage area.

27. Exercise regularly

Exercising regularly decreases your chances of getting sick and racking up medical bills. To save money skip the gym membership and try walking outside or finding workout videos on YouTube to exercise at home.

28. Use GoodRx

GoodRx is a coupon that can be used to discount your prescription medicines. I found out about GoodRx about a year ago and have used it every since to save over 60% on my prescriptions. Use the GoodRx website to find the pharmacy that provides you with the most favorable discount on your prescription meds.

29. Track your spending

Tracking your spending is a great way to know where you are spending money so that you can change your habits. Get in the habit of asking for a receipt after every purchase and store them in an envelope to keep up with them. At the end of the month categorize and tally up your purchases.

30. Start a budget

Starting a budget is the best way to save money and to tell your money where to go. With a budget, all of your expenses are outlined and a specific amount is designated to each category. When creating a budget sit down and think of ALL of your regular and irregular expenses.

31. Set a savings goal

If you really want to save money you should set a savings goal. By identifying a specific amount of money that you want to save and giving yourself a deadline to reach that goal, you are challenging yourself to cut expenses in order to accomplish your goal.

32. Save automatically

The smartest way to contribute to your savings every month is to automate the process. By automating your savings, it eliminates forgetfulness and the temptation to spend instead of save.

33. Save loose change

Some people may think that saving change is overrated in this digital day, but if you’re someone who uses cash often, which is a great way to deter impulse spending, then you should be saving your change. Once you get a certain amount of change saved, cash it in and put it in your savings account.

34. Get an accountability partner

An accountability partner helps you control your spending by regularly checking in with you to make sure you’re not spending outside of your budget. This person should be someone you don’t mind sharing your finances with and they should also have their personal finances under control.

35. Set a spending limit on your debit card

Setting a spending limit on your debit or credit card can help you save money and stop you from overspending. Log into your online banking platform and set the amount that you don’t want to exceed each day.

36. Wait before making big purchases

Before making big purchases give yourself a day or two to determine if you really need the item. Ask yourself the following questions:

• Do I really need the item?
• Can I afford the item?
• Can I get the item on sale later?

If after waiting and asking yourself these questions proceed with whatever choice will help you save money.

37. Forget the Joneses

Sometimes we tend to look at other people’s lives and try to mimic their lifestyle by wearing the latest fashion and driving a fancy car. Forget keeping up with the Joneses because they are probably living paycheck to paycheck. Instead, focus on saving money so that you won’t have to stress about covering any unanticipated expenses.

38. Become knowledgeable about money

When you have an in depth knowledge about your money you are likely to make better financial decisions. More often than not the decisions we make with our money right now will affect us in the future. Make a conscious decision to get smart about your finances to find ways to save money for whatever cause or event that you’re planning for.

39. Build an emergency fund

Building an emergency fund is a safe way to be prepared when the unexpected dead car battery or medical bill pops up. An emergency fund is used for just that, emergencies only.

Read more at 17 Smart Ways to Build an Emergency Fund. 

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