Money saving tips

Wouldn’t it be nice to save more money every month?

Here’s a list of over 75 money saving tips to get started right now.

I broke up the post into categories, so it’s easier for you to jump to the section you want to find.

Budget

  1. Stick to a monthly, zero-sum budget (learn how to create a budget here).
  2. Take cash out at the beginning of the month for all your discretionary spending that month (research shows you spend less when you use cash instead of a card).
  3. Use budget spreadsheets in my Budget Spreadsheet Bundle.
  4. Focus on your bank accounts growing.
  5. Track your net worth using a Net Worth spreadsheet.

Make Money

  1. Start a side job and save all your income from it (here’s a list of 45 new ways to make money).
  2. Become a virtual assistant and save all your money from what you make.
  3. Start a money making blog and save all your earnings from blogging.
  4. Make money freelance writing (see how these three make thousands every month).

Credit

  1. Don’t use a credit card at all if you’re a spender (I’ve never had a credit card for this reason!).
  2. Pay off your credit card in full every month (so you never pay interest).
  3. Sign up for credit cards that offer high cash-back rewards (only if you can pay it off every month!).

Savings Accounts

  1. Save 3-6 months of expenses in a liquid savings account (more on emergency funds here).
  2. Invest in your employer-sponsored retirement plan up to the employer match (at the least).
  3. Invest in a retirement account every month (the habit is important, regardless of the amount).
  4. Consider a credit union or online bank to get higher interest rates on your savings accounts.

Savings Challenges

  1. Start a $20 savings challenge where you contribute $20 every week to a savings account for an entire year. You’ll save $1,040 total.
  2. Start a $1 per week savings challenge. With this challenge, save $1 this week, $2 the next week, and so on. Increase your savings by $1 every week. At the end of the year you’ll have saved $1,378.
  3. Create a savings challenge for your family based on what you can afford to pay. Make it fun and create rewards for each milestone you accomplish.

No Spending Hacks

  1. Do a no-spend month where you spend no money on discretionary items.
  2. Instead of a no-spend month, have an ongoing no-spend day every week where you choose one day of the week where you never spend money.
  3. Choose one item to give up spending money on entirely.
  4. Implement a 30-day rule where you cannot buy something you want until you’ve waited 30 days. The point of this is that the delayed gratification will make it worthwhile and certain that you should buy it.

Food

  1. Plan your meals around your grocery store’s sales.
  2. Pack your lunch.
  3. Eat less meat (go down to once per week, for example).
  4. Stop spending money on drinks (and stop spending money on other things you’re wasting money on).
  5. Limit restaurants to once per month or for specific occasions.
  6. Always use a list when you grocery shop.
  7. Freeze meals.
  8. Join a cheap meal plan to save money, like $5 Meal Plan.

Shopping

  1. Buy during the off seasons.
  2. Read for free by using the library.
  3. Buy used whenever possible.
  4. Avoid your spending weakness.
  5. Buy in bulk.
  6. Use gift card exchanges to shop for Amazon.com $10 Gift Card in a Greeting Card (Amazon Surprise Box Design).
  7. Turn off “one-click” buying on sites like Amazon.
  8. Unsubscribe from all deal emails. Create a separate email account for coupons and use this account only for signing up for deals. Then, check it when you need to buy something. (I do this and it’s really helpful at reducing the temptation to shop.)
  9. Start extreme couponing.
  10. Skip extended warranties (unless you’re confident you need it).
  11. Download and use “deal apps” like Slick Deals (my boyfriend’s favorite)!

Home

  1. DIY your life (what else is Pinterest for?!). Example: Make that fancy headboard instead of buying it.
  2. Price shop your utility plans. Don’t overpay for things like cable or phone bills.
  3. Unplug appliances when you leave your home to save on electricity.
  4. Carpool to save on gas.
  5. Buy used furniture. It loses value so fast and is overpriced in the store.
  6. Stop paying for monthly memberships (even if they’re small, they add up).
  7. Use a clothes line to dry your clothes (your dryer uses a lot of electricity).
  8. Put plastic over your windows in the winter months to save on electricity.

Beauty

  1. Shop generic brands.
  2. Do your nails at home.
  3. Shop around for less expensive hair salons.
  4. Put yourself on a strict beauty budget.

Health

  1. Stop paying for exercise.
  2. Use YouTube for workout videos.
  3. Start exercising with friends outside.
  4. Price shop your prescriptions.

People

  1. Have an accountability partner that you keep track of your savings goals with.
  2. Hang out with frugal, budget-friendly savers.
  3. Have family money meetings where you get on a financial plan to save money together.

Kids

  1. Focus on spending time with your kids – not spending money on things for them.
  2. Buy used clothes and toys.
  3. Research free summer activities (at the library, for example) instead of paying for summer camps.

Minimalism

  1. Only buy what you need.
  2. Focus on value, not quantity.
  3. Clean out your closets (I just started doing this and it’s amazing!).

Travel

  1. Travel hack with rewards points.
  2. Find new places nearby to explore instead of going far away.
  3. Use Air B&B instead of hotels.
  4. Be wary of purchasing insurance for a rental car (you may already be covered by your private car insurance). Check first!

Learn How To Save Money

  1. Read personal finance books.
  2. Listen to personal finance podcasts.
  3. Set savings goals (long-term and short-term).
  4. Take a budgeting course, like Budgeting For Budget Haters, to learn how to save money and stop living paycheck to paycheck.

A Final Note!

The list above gives you 75 money saving tips to get started saving money now.

Whether it’s cutting expenses, increasing your income, or following a savings challenge – there’s something for everyone.

I hope it sparks the creativity you need to get started saving money asap!