115 Creative Ways To Save Money On A Tight Budget
How can you save money when you are on a tight budget or living paycheck to paycheck? The reality is that a significant number of Americans (58% to be exact) have less than $1,000 in savings.
Life is expensive! We have to pay for groceries, clothes, housing, transportation, healthcare, utilities, and more. If you are going to save money, pay off debt, and become financially free, you need to be deliberate and creative with your finances.
This post lists over 115 ways to save money each and every month. Some of these money-saving tips require a change to your lifestyle and border on extreme frugality. Some of the strategies are funny and may not be how you are used to living your day-to-day life. In general, the saving strategies are simple to implement and are bound to help you save more money even if you are earning a low income.
Make sure to bookmark this page so you can come back to it for saving tips in the future!!
115 Ways To Save Money
The starting point for improving your finances and saving more money is to understand where you stand financially.
1. Conduct a Financial Audit: What is your income? What are your expenses? How much money do you have leftover every month? How much money do you want to save every month? A good financial audit should paint a true picture of your financial life and tell you where your money is going.
It is easy to audit your finances using apps like Mint, YNAB, PocketSmith, and Tiller. You can save yourself the fee on budget apps by utilizing an Excel spreadsheet or simply put your pen to paper and start working the numbers.
2. Create a Budget: With the information gathered from Step #1, you can create a budget that stipulates how you plan to spend your money going forward. Break your expenses into categories and allocate funds to each category. Determine how much money you will set aside for savings.
It is now time to stick to your budget and implement strategies that lower your expenses.
How To Save Money on Groceries
You’d be surprised at how much of your paycheck goes towards buying food. As per USA Today, the average American household spends $7,203 on food per year, which is almost 10% of the average pre-tax income.
Here are some tips to save on food and your grocery shopping:
3. Use Cash Back Apps: Return money to your wallet by using one or a combination of the best grocery shopping cash back apps like Checkout 51, Ibotta, and Drop. Checkout 51 and Ibotta allow you to scan your purchase receipt using your phone to receive cash back that can be up to 30% on some items.
Drop and TopCashback automatically track your purchases and credit your account with cash back.
4. Make a Grocery List: I can’t count the number of times I have walked into a grocery store without a list and ended up burning our budget and wasting money on items we did not need. Avoid impulse purchases by making a grocery list and sticking to it.
5. Have a Meal Plan: Cook more often and use up items already in your pantry. If you find it difficult to come up with healthy frugal meal ideas, check out the $5 meal plan.
6. Grow Your Own Vegetables: If you have room in your backyard, balcony, or even inside your home, you can grow your own vegetables and herbs. In spring, we plant tomatoes, strawberries, sage, thyme, rosemary, mint, and more. This not only saves us money, but our kids also get to understand where their food comes from.
Growing your organic veggies can save you a lot of money and you eat healthier.
7. Buy in Bulk: Purchasing food and other household items in bulk can save you up to 30% or more. This will also save you on transportation costs since you will need to visit the store less often.
8. Buy Generic: Most generic items are similar to their brand name alternatives but can cost significantly less.
9. Don’t Shop for Groceries on an Empty Stomach: Research shows that we tend to spend more in general when we are hungry.
10. Bring your own Grocery Bag: Save 5 cents or more per bag by bringing a reusable bag for your grocery shopping. The savings add up!
11. Shop in Season and during Sales: Tailor your meals to use what’s in season at a lower cost. For example, unless you live in a place like California, it will be costly to eat fresh oranges all year round. Bulk up during sales but take note of expiration dates. There’s no point saving money only to lose it when you have to throw stuff away in the garbage.
12. Invest in a Deep Freezer: We buy meat and fish in bulk when on sale and keep them frozen for several months. Frozen foods last for longer than you think.
13. Rethink Farmers Markets and Organic Food: Farmers markets don’t always offer the cheapest (or healthiest) deals on fresh produce. I stopped frequenting the farmer’s markets in my area after discovering that I was paying up to 30% more than at the grocery store.
Also, having worked in regulatory food inspection, I can tell you that not everything labelled organic is truly what it claims to be. Eat healthily and spend smartly.
14. Eat Less Meat: I love my steaks, but they are too pricy to eat as often as I would like to. We balance our overall protein intake with legumes like beans and lentils. Eating less meat is also good for your health and can save you on healthcare costs. It is also good for the environment.
15. Be Frugal With Leftovers: Stop throwing leftovers away. Americans waste about one pound of food per day and over $165 billion in meals every year. Use those extras as ingredients to plan your meals. For example, leftover vegetables can be pureed to make soup or make a salad and fill a sandwich.
Use the Grocery Budget Makeover to streamline your grocery purchases and reduce waste.
16. Avoid Bottled Water: Tap water in the U.S. and Canada is generally just as safe to drink as bottled water and costs only a fraction. Save your wallet and the environment by drinking water from the tap when it is safe to do so.
You will be surprised to hear that bottled water is 600 times more expensive to drink than tap water!
17. Sales – Are You Good at Mental Mathematics? Can you trust your math skills to save you money when you are in-store and checking whether a sale is indeed a good deal? Carry a calculator or use the one on your phone and don’t let the tricky discounts confuse you into a poor buy.
18. Pack your Lunch: I save over $2,000 every year by brown-bagging my lunch from home. This way, I also tend to eat much healthier meals.
19. Make your own Coffee: If you are a heavy coffee drinker, you can save up to $1,200 per year by brewing your own coffee.
20. Eat in: Avoid the temptation to dine out every night. It will hurt your wallet. Cook your own meals and try out different recipes or jump on the $5 Meal Plan. When you choose to eat out, save by choosing water in place of booze, use discounted gift cards, and go to “kids eat free” restaurants.
21. Use Loyalty Cards: Some stores offer a rewards card that amplifies your savings when you shop for groceries. You may also be able to apply coupons using your loyalty card.
22. Check Your Receipts: It doesn’t happen too often (thankfully), but I have been dinged more than $30 when cashiers mistakenly scan an item twice or enter in the wrong price code. Scan your grocery receipt to ensure you are not being overcharged.
Creative Ways To Save Money Fast on Housing and Utilities
According to the Bureau of Labor Statistics, the average American household spends $18,886 per year on housing costs. Here are some ways to start saving!
23. Purchase an Affordable Home: Housing costs should not exceed 30% or so of your monthly pretax income. Anything above this can cause you to become ‘house-poor.’ Buy a home that is priced less than the mortgage your bank approves you for.
Pay an extra amount every now and then on your regular mortgage payments to save on interest costs. On a $400,000 home, you can easily cut your mortgage term by 10 years and save $72,000.
24. Rent out a Spare Room: If you have a room or basement that is sitting idle, consider renting it out to offset your mortgage payments and save money. Become an Airbnb host and make $500 to $1,500 per month when you list your spare room.
25. Weatherstrip your Home: Seal off drafts that spike your heating and cooling bills in the winter and summer months. Check windows, doors and baseboards for gaps. Caulk, use spray foam or install weatherstripping when required to cut your energy usage.
26. Replace Light Bulbs with CFLs or LEDs: These new bulbs last for much longer and use less electricity for the same output (up to 75% less energy usage). While they are a bit more expensive than incandescent bulbs, you will recoup your cost in no time at all. Check out these CFL bulb deals on Amazon.
27. Buy Energy Star rated Appliances: When upgrading old appliances e.g. dishwasher, clothes washer, dryer and refrigerator, purchase an energy-efficient model that carries the Energy Star label.
28. Upgrade to a Programmable Thermostat: A programmable thermostat like this Nest Thermostat makes it easier to automatically regulate your indoor temperature at various times during the day. Smart thermostats program themselves and they can help you save up to 15% of your energy costs.
29. Dress to Save: During the winter, put on more clothes to feel comfortable and lower your thermostat by 5 degrees (saves 10%). In summer, dress light and increase your thermostat by a bit.
30. Refinance your Mortgage: If the prevailing mortgage rates are much lower than what you have, it may make sense to refinance at a lower rate and pay the penalties for breaking your mortgage.
31. Cut Cable or Negotiate a Lower Bill: I have saved $750+ per year for the last three years on our cable, phone, and internet combo because I was able to negotiate a much better deal than what I initially had.
If you can’t find a manageable deal, consider cutting cable and going with cheaper alternatives like Netflix, Hulu, and Amazon Prime.
32. Avoid Vampire Energy Losses: Unplug appliances and electronics that are not in use to avoid phantom energy losses (standby power) that increase your electricity costs. Plug appliances into a smart power strip that automatically cuts off electricity when the appliance is not in use. Energy vampires can cost you up to $100 per year!
33. Maintain your Furnace: Keep your furnace in tip-top shape so it can function efficiently and consume less energy. Your furnace will also last longer and save you on replacement costs. Some DIY maintenance you can do are:
- Change the filter regularly
- Clean/clear vents and air registers in the house
- Seal leaky ducts
- Keep the area where your furnace is installed clean and dry
34. Use Timers/Motion Detectors: Install timers to control when outside lights come on or use a motion detector to have lights turn on only when required to see.
35. Run Full Loads: Today’s efficient dishwashers can actually save you money compared to washing your plates manually. Minimize energy and water costs by running full loads in your dishwasher, clothes washer and dryer.
36. Wash Laundry with Cold Water: Coldwater washing is suitable for most clothes and will save you more than $60 per year. 75% of the energy usage by washers goes towards warming up the water. So, unless you need to sanitize cloth diapers, the cold water setting is often adequate.
37. Use the Dryer Efficiently: Save on energy costs by using dryer balls to decrease drying time for your clothes. Use half a dryer sheet to achieve the same results. Clean out the lint from the dryer, lint screen, and ductwork so it can work efficiently and avoid a house fire.
38. Take Shorter Showers: I am one of those people who does not fully wake up until I have had a hot shower. As much as 20% of indoor water usage occurs in the shower. You can cut your water usage by 10 gallons if you shorten your shower
39. Use Low-Flow Showerheads and Faucets: Decrease your water usage by more than 40% when you replace your old showerhead/faucets with low-flow alternatives like this one by Niagara. You will also reduce your energy usage and help the environment.
40: Replace Old Toilets: Stop flushing away your money. If you have a toilet that was installed in the 1980s, it is time to let it go to save $200+ per year. These now ancient toilets use 3.5 gallons or more per flush. If they were manufactured prior to 1980, they may use more than 5 gallons and are a huge waste of money.
More recent eco-efficient toilets use much less water Use this EPA WaterSense Calculator to see how much you can save.
41. Lower the Temperature of your Water Heater: Most water heaters come preset to function at 140 degrees. Dial back the temperature to 120 degrees to reduce energy losses. There is a small risk that a lower temperature may set the stage for dangerous micro-organisms to grow (e.g. Legionella bacteria), however, this risk is very low.
42. Air Dry your Laundry and Plates: Use the clothesline to dry clothes in summer and let your plates air-dry on the rack after washing to save up to $30 or more per year.
43. Use Less Water: In addition to saving water by taking shorter showers and installing low-flow fixtures, reduce your water usage by:
- Installing a rain barrel under a gutter to collect water which you can use in the yard to water flowers, shrubs or your vegetable garden.
- Repair leaky pipes
- Turn off the tap when you brush your teeth or shave
- Keep a jug of water in the refrigerator
- Mulch your garden to slow down evaporation
44. Use your Refrigerator/Freezer Efficiently: Save money on your fridge by:
- Keeping the door firmly closed – duh! Replace the door seal when it wears out.
- Let food cool off before placing in the refrigerator or freezer
- Keep the temperature at the recommended level
- Defrost at least once a year
- Fill up the fridge
- Clean the condenser coils if they are dirty
- Locate the refrigerator away from heat sources
45. Appeal your Property Taxes: If your house has been appraised more than it is worth and this has increased your property taxes, lodge an appeal with the city to lower it.
46. Shop for Lower Home Owners Insurance: I obtained a quote from six different insurance companies when we bought a home. The rate I finally settled with was $300 less than the next best rate and for the same coverage. Also, don’t be afraid to ask about available discounts.
47. DIY Home Maintenance: You are handier than you think. I have saved thousands of dollars replacing old toilets, renovating our deck, painting, reviving a lawn, caulking, tiling, and more by myself. There are several video tutorials on YouTube that can help you save money around your home.
Of course, don’t bite off more than you can chew. Stay within your competence level.
48. Service your Air Conditioner: Apart from lengthening its lifespan, this will also save your wallet. Some DIY maintenance for your air conditioning unit:
- Regularly vacuum out debris that collects in the interior
- Clean the fins using a garden hose – be careful to avoid excessive pressure as this may damage them
- Cut back branches and vegetation within a 2 feet radius
- Ensure the condensate drains are not clogged
Money Saving Tips For Your Banking and Finance
Make your finances work for you by saving money on your bank accounts and investments as well as by improving your credit.
49. Automate your Savings: After creating a blueprint for your savings in Step #2, put your plan into action by setting up an automated savings plan that withdraws money from your checking account and deposits it into savings on a schedule. Pay yourself first. For example, you can decide to save 10% of your bi-weekly paycheck.
50. Use a Spare Change App: There are some really good money saving apps that automatically round up your purchases and invest or save the difference. They are the ultimate savings apps if you find it difficult to put money aside.
51. Be Disciplined with Credit Cards: I earn up to $1,000 in rewards (cash back and points) on my credit cards annually while paying $0 in interest fees. Credit cards are great for convenience, however, they also make it easy for you to rack up debt.
Pay off credit card balances within the 21-day grace period. In some cases, it makes sense to do away with credit cards altogether and pay cash!
52. Cut Bank Fees: Get a free checking account and stop paying a monthly maintenance fee. Plan your banking, use free ATMs, earn interest rates on your spending balance when available through online banks or credit unions.
53. Use a High-Interest Savings Account: Interest rates have fallen dramatically over the last decade and there are savings accounts that earn 0.01% APY i.e. one-hundredth of 1%! Put your money to work by utilizing a high-interest savings account that offers a rate higher than inflation.
54. Monitor your Credit Score for FREE: The strength of your credit profile determines how lenders view your creditworthiness and how much it will cost you to obtain credit. An excellent credit score and history means you save money on your mortgage and personal loans.
55. Pay Off Debt Quickly: Pay down or pay off your debts as quickly as possible and start with high-interest debt. If you carry a significant credit card balance, ask your bank if you can get a lower rate or can transfer and consolidate your balance using a 0% balance transfer credit card.
Pay down your balance as soon as you can during the promotional period.
56. Cut your Investment Fees: High investment fees negatively impact your long-term returns and the fees are often not worth it. More than 80% of high-fee mutual funds underperform their benchmark index each year.
Minimize your investment fees by choosing simplicity over complexity. For example, by using low-cost Exchange-Traded Funds (ETFs) which you can buy yourself using a brokerage account or simply go with a robo-advisor like Wealthsimple, Betterment, or WealthFront.
57. Maximize your Tax-Free and Tax-Deferred Accounts: Registered investment accounts like the Roth IRA and 401k in the U.S. or TFSA and RRSP in Canada are some of the best tools to invest or save for retirement.
Your portfolio grows faster (since earnings are not taxed) using the power of compound interest. The earlier you start, the better. Also, don’t forget to utilize your employer’s 401k or RRSP match.
58. Use your Tax Refunds Wisely: Contrary to popular opinions, tax refunds are not ‘free’ money. You have simply loaned money to the government at 0% APY for 1 year. Put your refund towards paying off debt and save on interest costs. Even better, reduce your tax withholding and put more of your money to work every month.
59. Build an Emergency Fund: It is recommended that you put 3-6 months worth of living expenses aside in a savings account so that you have access to funds if an emergency arises e..g. lose your job, medical problems, car break down, etc.
An emergency fund can save you from having to burn through your credit cards if something urgent comes up.
Frugal Ways To Save Money on Transportation
Transportation is a major expense for American households costing $11,403 per year. The majority of this cost is tied to car ownership.
60. Buy a Pre-Owned Vehicle: A new car loses 10% of its value in the first month after you drive it off the lot. After 5 years, it will only be worth 40% or less of its original value. With such high depreciation rates, it rarely makes financial sense to buy a brand new vehicle. Buy a used vehicle in excellent condition and save money.
61. Bike or Walk: Walk or bike whenever you can. It is much cheaper, great for your health, and good for the environment.
62. Carpool or Use Public Transport: Ask your colleagues/neighbors whether they are interested in carpooling. It is more cost-effective for all of you and you may also develop some lasting friendships.
63. Buy Cheap Gas: Buy the best-priced gas in your area. Apps like GasBuddy make this an easy task. The majority of cars do not require premium gas, so stop burning your cash. Use a cash back card to maximize your savings.
64. DIY Car Maintenance: Keep your car well-maintained so it lasts longer and doesn’t break down too often. Some of the car maintenance tasks you can complete yourself to save costs include:
- Replace worn windshield wipers
- Replace air filters
- Replace batteries
- Top up and replace fluids
- Change spark plugs
- Change the oil and filter. Follow your car manual’s recommendation for how often to change the engine oil.
65. Lighten your Trunk: An additional 100 pounds of load in your car’s trunk reduces its fuel efficiency by 1-2%.
66. Properly Inflate your Tires: Ensure your tires are not under-inflated to improve your gas mileage. Keep a pressure gauge in your car as this is also a safety issue.
67. Shop around for Auto Insurance: Car insurance policy rates can vary widely between insurers. Shop around for the best rate available. Consider increasing your deductible for more savings.
68. Shop around for Cheaper Car Loans: The best car loan rates are not always available at the car dealership. Check at your bank and other lenders for an acceptable rate and amount and get pre-approved before proceeding to the dealership.
69. Buy a Fuel-Efficient Car: Research fuel-efficiency when buying a car. Avoid well-known gas guzzlers. Consider buying a hybrid or electric vehicle.
70. Drive Efficiently: Some other tips for improving your gas mileage are:
- Don’t drive aggressively, accelerate slowly, coast to a stop
- Avoid over-speeding
- Don’t idle the car for long periods
- Use a GPS and take the quickest route
- Combine errands
- Use cruise control when driving on the highway and long distances
How To Save Money on Personal Care and Other Shopping
71. Cut your Own Hair: I save at least $600 every year by cutting my own hair. It is actually easy to do and there are lots of easy video tutorials on the internet. Alternatively, you can choose to get fewer haircuts. Also, learn how to do your own manicures/pedicures.
72. Buy Generic or Store Brands: The big brand names sell for ridiculous margins and are not usually worth their cost. Fashion trends are also often short-lived. Save money by buying generic when purchasing clothes, medicines, and groceries.
73. Shop at Thrift Stores: Good deals can be found on clothing, utensils, books, furniture, tools, and more at thrift stores.
74. Shop Clearance Sales: You can grab your favourite branded clothes at discounted prices when they are on sale. The best sales usually occur just before the season changes and after the holidays.
75. Make your own Hygiene and Beauty Products: There are thousands of videos and blog tutorials online on how to make your own soaps, essential oils, conditioners, shampoos, and body lotions.
76. Avoid Window Shopping: I try to avoid window shopping just for the fun of it as it does result in me buying things I don’t need. If you must stroll around the mall, consider keeping your wallet at home.
77. Use the 24-Hour or 30-Day Rule: Avoid impulse purchases by giving yourself a 24-hour window to decide whether or not to go ahead with the buy. For high-ticket items, wait for at least 30 days.
78. Unsubscribe from Emails: I signed up for email alerts from retailers when we bought a home because we were in the market to furnish the home and buy stuff. Months later, I unsubscribed from all the emails after realizing that the continuous offers and discounts were tempting me to spend money we didn’t have.
79. Try the No-Spend Challenge: Designate a day of the week or a few weeks of the year to when you will go without spending any money. This activity helps to put things into perspective and can wean you off spending money on impulse. It is also a great way to ease into a minimalist lifestyle.
80. Read Reviews and Compare Prices: If you are going to buy anything, aim to buy it at the cheapest price possible. Use price-comparison websites like PriceGrabber, Bizrate.com, Nextag and Pronto to find out which store is offering the best price.
Do your research, read honest reviews, and be sure you are getting good value for your money.
81. Spend Cash: Consider spending cash when you go shopping. People tend to be a bit more aware of what things cost when they are paying cash. With your credit card, you don’t feel the immediate impact of the outflow of money and tend to spend more. Cash is king!
Ways To Save Money on Vacation
It is good for your health to get away from the daily rigors of work and to relax. You can still be frugal when you take a vacation.
82. Plan your Trip Early: Start looking for flights and hotel accommodations early. Waiting till the last minute to book can cost your 100% or more in price increases and leave a big hole in your wallet. Use apps like Hopper or Kayak to monitor airfares and receive alerts when prices drop or go up.
83. Use a Travel Rewards Card: Use a no-fee credit card that rewards you with cash back or points on your travel-related expenses. A good credit card will also provide free travel insurance coverage. Travel hacking with credit cards can be highly rewarding if you are disciplined.
84. Consider a Road Trip: If you have a big family, travelling by road can save you a ton of money. It will also present opportunities to enjoy more sights and sounds as you move around.
85. Find Free Activities: Research the free or low-cost activities you can engage in while on vacation.
86. Consider a Staycation: Instead of going abroad this year, consider visiting local attractions or camping out in the country. You will avoid paying hefty hotel and airfare costs and boost the local economy. Visit free local festivals and concerts.
87. Travel During Off-Peak Season: Travel when there’s a bit less traffic of people in the place you want to visit. For example, hotels are likely to be cheaper at a summer getaway in September than they are between July and August.
88. Rent an Apartment: Use Airbnb to search for rooms, apartments or house listings. They are generally much cheaper than a hotel stay and may even provide more and better amenities. For example, you can cook your own food, get free laundry and more space for the kids to play.
89. Make your own Snacks: You’d be surprised at how much you end up spending on a road trip especially if you have kids. Make your own snacks beforehand or visit the grocery store before you embark on your journey.
Ways To Save Money on Entertainment and Kids
90. Movie Night at Home: Rent or buy a movie, make your own popcorn and make a theatre of your home. You can also share the cost of renting a movie with a friend or family member.
91. Having a Party? Do a Potluck: Ask everyone to choose a dish or drink they are going to bring. Your guests will have a variety of food to choose from and you will save time, energy, and money.
92. Use the Library: Use your local library to find books, magazines, CDs/DVDs, and more for free and save money.
93. Buy Used Sporting Gear Equipment: Kids sporting gear are pricy! Buy used equipment in good condition and save money. Also, they outgrow them quickly anyway, so why throw away money buying brand new?
94. Use Cloth Diapers: Your baby will use a ton of diapers from when they are born until they are potty-trained…about 7,000 or so. You can save some good money by using cloth diapers over the disposable ones.
95. Learn to Sew: Having basic sewing skills can save parents money if they can patch torn clothing, sew on buttons, and adjust clothes for size. This basic skill is especially useful if you have young kids.
96. Get your Kids on the Program: It is never too early to instill frugality into your kids. Teach them not to waste food, electricity, and water. Also, get them into the habit of saving money. They can start with pennies and grow from there.
97. Swap Babysitting with Others: Chat with your friends and neighbors and come up with a strategy to exchange babysitting services. You will leave your kids with people you trust and save money.
How To Monetize Your Time and Resources
Earn some dough and increase your savings.
98. Sell your Clutter: Find time during the year to take an inventory of the things you own. I like to clean up my clutter every spring and fall and to sell them for money.
Decluttr makes it easy to get rid of your old books, CDs, DVDs, games, cellphones, and other techs. Shipping is free and you get paid fast. You can also sell stuff on eBay or Facebook or have a Yard Sale. Sell old clothes on ThredUp or Poshmark.
99. Rent Out your Empty Room: If you have a room that is sitting idle, rent it out on Airbnb.com. If you live near a college/university, rent to a student and make/save money.
100. Pet Sit: Use Rover.com to find pet sitting or pet boarding gigs in your area and make easy cash walking and boarding dogs and cats.
101. Drive Others Around: Sign up with Lyft or Uber and drive people around with your car during your spare time. A car is a fast depreciating asset, so if you can make some money with it, good for you!
102. Deliver Food and Groceries: You can earn a decent pay delivering food orders and groceries in your area with UberEats or Instacart. Get this gig going by using either your car, scooter, or bike.
103. Rent your Parking Spot: If you live near a college/university, concert or game venues, you can rent out your parking spot to students and others while you are at work or away.
104. Take Surveys: Complete surveys during your spare time and make money. Some of the best paid survey sites include Swagbucks.com ($5 bonus), Survey Junkie, Inbox Dollars ($5 bonus) and Pinecone Research.
105. Teach English Online: Teach the English Language from the comfort of your home to kids online. VIPKid pays up to $22 per hour to work from home teachers.
Other Ways To Save Money Fast
106. Stop Smoking: Smoking kills and can cost you more than $1 million over a lifetime.
107. Cut your Landline: If you have a cell phone, stop paying for a landline.
108. Automate your Bill Payments so you don’t forget and have to pay late payment fees. Schedule your payments to coincide with your paycheck in order to avoid running into overdraft.
109. Pay for Quality: You can actually save money by spending on quality items that last longer.
110. Cancel Unwanted Memberships and Subscriptions: Use a free service like Trim Financial Manager to automatically cancel your unused subscriptions and negotiate a lower cable and internet bill. It is good to exercise regularly. However, cancel your gym membership if you are not using it. Consider installing a home gym system instead.
111. Don’t Waste Money on Birthday Parties: Some parents feel like they need to spend a lot of money hosting a birthday party for their kids. If it will hurt your wallet, scale things back and be pragmatic.
112. Bundle your Insurance: Some insurance companies give you a good discount when you hold more than one insurance policy with them e.g. auto and homeowners insurance.
113. Don’t Compete with the Joneses: Don’t get into the habit of competing with others for who has the best car, house, lawn, clothes, etc. It will hurt your wallet and bring no long-lasting satisfaction. As per Dave Ramsey, the Joneses are broke!
114. Make your own Cleaning Supplies using water, vinegar, baking soda, lemon juice, and essential oils.
115. Maximize your Health Savings Account or Flexible Spending Account to save money.
Are there any other strategies you are using to save money? Leave them in the comments!
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