Have you ever wondered how and where the money you work so hard for disappears quickly? Don’t worry, you’re not alone. Millions of Americans struggle with saving money. According to a 2023 survey, nearly half of Americans have just $500 or even less savings, leaving them vulnerable to unexpected expenses. That is why we have compiled a list of 100 ways to save money!
These strategies might be challenging, but they can make a big difference in the future if you follow them religiously. Not all tips apply to everyone. Pick the ones that apply to you, adopt them, and start saving money!
Top 100 Ways to Save Money
Want to start saving money for a secure future? Here are 100 ways to do it.
Saving Money through Budgeting and Finance
1. Create a budget
How important is budgeting? This is an essential factor when it comes to finances. As you budget, it will help you avoid overspending. Set aside budgets based on your requirements and needs.
2. Track your spending
Track your expenses to know where your money is going and how to control it. You should control your money and not the other way around.
3. Set savings goals
Do you have a savings goal? If you don’t, start now! Having a savings goal will help you pursue it. You need to know why and how you will save money.
4. Use a high-yield savings account
You can save money in a high-yield savings account at your bank every month. There are online accounts that help you save with higher interest rates.
5. Adjust tax withholdings
If you run a business, make sure you write down your expenses. This will help you significantly to bring down your tax bill.
6. Use a budgeting app
Optimize a budgeting system that works well for you. Budgeting apps like Beem offer tips on how to save money wisely.
7. Educate yourself on personal finance
Read books, learn online, stay updated, and regularly educate yourself about investments, stocks, and personal finance tips.
8. Check your bank statements regularly
Every month, you get statements from your bank. Review regularly to help you control spending and save money.
9. Avoid using credit cards for purchases
Credit cards are a necessary evil. You need them, but using them frequently will lead to high interest and debt. Use credit cards responsibly and only when needed.
10. Pay off credit card balances each month
Set aside a portion of your income to pay credit card balances monthly. This way, you clear your debt sooner and won’t carry over balances.
11. Use cash envelopes for budget categories
Segregate your income and put them into marked cash envelopes. That way, you have monthly fixed spending and saving budgets and won’t be tempted to overspend.
12. Plan no-spend days
Set aside one day and slowly make it a week without spending money. Start small, like making meals at home or walking to your workplace if it’s close by.
Saving Money through Food and Groceries
Tempted to spend more when you go grocery shopping? Here are ways you can save money on food and groceries.
13. Cook meals at home
Explore the chef inside you with new dishes. Look up recipes online or consult a cookbook for a cheaper and healthier way to save money.
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14. Pack lunches for work
Cut down on spending on food in the workplace by carrying your lunch box daily to work. Enjoy sharing your food with your colleagues and save up.
15. Use grocery shopping lists
Prepare a grocery list for meals for the week before you head to the store. Maintain a budget and stick to the list.
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16. Buy generic brands
Branded products are expensive. Buy a store brand or generic version of the product. This will help you save money and reduce your grocery bill.
17. Plan your meals around sales
Plan your meals around sales days and what’s available on your grocery store flyer. Look for big sales and plan meals based on the ingredients available.
18. Freeze leftovers for later
Try new dishes with leftovers. Don’t waste or throw away food. Save it for later. Use containers to freeze and store food. Invest in a good deep freezer.
19. Grow your vegetables
Start a new hobby with gardening and save money. Learn all about gardening and grow a variety of vegetables. Nothing will make you prouder.
20. Make coffee at home
Stop going to the coffee shop and save money on coffee. Brew and enjoy your own hot cup of coffee at home while saving a few dollars.
21. Cut down on snacks
Snacking on junk food isn’t good for your health either. When you cut down on snacks, you are not only saving money but also living healthier.
22. Buy in bulk
Most ingredients we use can be bought wholesale. This applies to non-perishable products. Cut down on costs and add to your savings.
23. Reduce meat consumption
Though meat is a good source of protein, it is costly! Look for cheaper alternatives and switch to vegetables to get your proteins instead.
24. Make homemade snacks
When baking cookies, pastries, fries, or nachos, try making them at home. Look for easy-to-make home snacks online and bring out the snack chef in you.
25. Eat leftovers
When you cook, save the leftovers. You can heat and eat them the next day or go innovative and turn them into delicious new dishes.
Saving Money from Shopping and Expenses
Are you shelling out too much on shopping expenses? Here’s how you can save money.
26. Eliminate or reduce dining out
Though it might be tempting, limit dining out or eating at restaurants. Instead, cook meals at home and save money while enjoying your favorite show.
27. Avoid impulse buys
Impulsive buying can make you overspend and empty your pockets quickly. Instead, stick to a budget list while shopping. You can always add to the cart, leave it there for a few days, and come back to see if you need it. Avoid the urge to splurge.
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28 . Buy clothes out of season
Shopping for clothes can be fun, but it can rob you of your money in a jiffy. Don’t buy unless necessary. Look out for end-of-season or off-season sales.
29. Shop second-hand
Branded clothes are trendy and pricey! Shop at online stores that offer second-hand clothes or go thrift store shopping. Be thrifty with your clothes and save money with second-hand clothes.
30. Repair instead of replace
If you notice a small hole in your clothes, don’t throw them. Instead, sew them. You can also recycle your clothes and create a new style.
31. Use coupons and promo codes
Look for retail stores that offer rewards for shopping at their stores. Create an email just to receive emails and collect cards and extra coupons.
32. Sell unused items
If you have things at home that are less used or just lying around, sell them on online platforms. You earn extra money and save up money faster.
33. Avoid buying bottled water
Bottled water can cost a buck. Switch to reusable water cans. Carry your own water bottle from home. Every small drop you save adds another cent to your wallet.
34. Limit online shopping
Online sales, discounts, and deals can be luring, but know your limits. Frequently shopping online can lead to overspending. Skip the urge to splurge online and save money.
35. Avoid buying new gadgets immediately
The latest iPhone may be tempting. Skip buying new electronic gadgets in the market. The expensive prices are often reduced when the next model is out. Wait for the right time to buy devices at low, reasonable prices.
36. Buy refurbished electronics
One of the most significant reasons for buying refurbished electronics is that they are cost-saving. Ensure you pick them up from reliable sources where the products are tested and inspected thoroughly.
Saving Money from Utilities and Home
Cut expenses and save money on utilities and home expenses in the following ways.
37. Reduce energy consumption at home
Use appliances only when needed at home and turn them off to reduce energy consumption. Cut electricity costs and save money on bills.
38. Air dry laundry
Though using a dryer for clothes is convenient, it consumes much energy. The best alternative to save money and energy is to do it naturally.
39. Use energy-efficient appliances
Invest in energy-efficient and reliable appliances that can be used for many years. Research before you buy any home appliance. Look out for green perks and energy conservation tags.
40. Turn off lights when not in use
Switching off lights when leaving the room is generally a good habit to save money and energy. If you have enough sunlight, turn off the lights.
41. Unplug electronics when not in use
Keeping your electronics plugged in when you are not using them drains energy. Make sure you unplug and turn off devices that are not in use. This helps cut down on your home bills.
42. Seal windows and doors for leaks
Leaks can lead to loss in all seasons. Look out for leaks and ensure that you fix them to keep your home cool in summer and warm during winter.
43. Use low-flow showerheads
High-force showers can make you spend more water and increase your energy consumption. Switch to low-flow showerheads.
44. Use a programmable thermostat
Reduce energy usage by installing a programmable thermostat. This will help you manage your home temperature while working or sleeping.
45. Insulate your home
Insulating your home correctly can make you comfortable throughout the year. Insulate your attic, basements, and crawl spaces. This will balance the heat and coolness of the house.
46. Use solar lighting outdoors
For lights outside your home, go for LED bulbs as they are cheaper, instantly light up, are as efficient as CFLs, and last long.
Saving Money Through Transportation
How much are you spending on transportation? Read on to learn ways you can cut down on transport.
47. Use public transportation
If you stay near the city’s transit, don’t hesitate to take it. This will help you save money and not worry about your parking place or fees.
48. Carpool to work
Carpooling isn’t just convenient. It is eco-friendly too. Carpooling helps save money and reduce how much you spend on commuting as you split your ride costs with others.
49. Use a fuel-efficient vehicle
Invest in a good vehicle that is fuel-efficient and reliable, as it will help you spend less on gas and save money. A good mileage car will offer good returns.
50. Use a bike for short trips
If your grocery store is nearby, take your bike. If you have a cycle, peddle to work. This will help you stay fit and save money.
51. Plan vacations in advance
Mark dates on your calendar to plan trips well in advance. This way, you save money on travel, accommodations, and other expenses with early deals and off-season discounts.
52. Car maintenance for fuel efficiency
Servicing your car and ensuring good maintenance will greatly increase your car’s life and help you save money. Research how to manage your car’s fuel intake and reduce consumption efficiently.
53. Batch errands to save gas
Plan short errands together, such as buying groceries, picking up parcels, or dropping off friends on your way to work or back home.
Saving Money in Entertainment and Leisure
Entertainment may be taking up a big chunk out of your wallet. Here’s how you can cut costs without losing out on all the fun.
54. Cancel cable TV
Cut down on the time you watch television. Instead, take a walk or spend time with family and friends. You save money and make better use of your time.
55. Use library resources
If you have a library nearby, head over and borrow books. Connect with the reader in you and stock up on your favorite books.
56. Look for free entertainment
There are free ways to entertain yourself too. Don’t just bank on your TV, laptop, or phone. Find new hobbies or activities to keep yourself occupied.
57. Volunteer for events for free admission
Give back to the community. This is a great way to exercise and build a positive environment to boost yourself while you save money.
58. Watch movies at home
Save the money you might spend at the theatre on tickets, popcorn, and soda. Instead, make popcorn yourself and watch a movie at home.
59. Attend matinee shows for cheaper tickets
If you must go to a theatre, head to the matinee. For matinee customers, theatres offer tickets for a lower price. Ditch your regular movie timings and opt for matinee shows to save those extra dollars.
60. Opt for staycations
Club vacations with savings. Ditch the luxury hotels and opt to stay home while enjoying the benefits of a vacation. You can spend a little on day activities within driving distance and get back home to sleep. This way you’re enjoying a break and saving money.
Saving Money from Health and Wellness
Taking care of your health helps save big bucks. Here are all the ways to save money with health and wellness.
61. Use a health savings account (HSA)
Put money into a Health Savings Account as an investment. Your HSA will help you in the long run.
62. Get regular medical check-ups
Keep track of free camps or check-ups at your local healthcare community. Avoid future health expenses by not missing routine check-ups.
63. Use generic medications
During treatment, opt for generic medications. Though brand names differ, they will have similar medication.
64. Drink more water, less soda, and alcohol
Stay hydrated and drink plenty of water. Water has many health benefits and helps your body stay in control. Water costs less, and you can save money by not spending on soda and alcohol.
65. Reduce or eliminate alcohol consumption
Alcohol consumption has many reported health risks and can even lead to serious problems if left unchecked. Reducing alcohol intake and eliminating it not only restores your health but also saves you money.
Saving Money through DIY and Home Maintenance
Bring out your creativity and try DIY home maintenance methods to save money:
66. DIY gifts and cards
Explore your creative skills with DIY gifts and cards during occasions for your loved ones. This way, you save money on expensive gifts.
67. Make your cleaning products
It is cheaper to make your own cleaning products. Not only does it cost less, but home remedies for cleaning are often healthier and safer, too. Buy basic ingredients and make your own soaps, lotions, and cleaning products easily.
68. Make homemade natural cleaners
Don’t spend too much on cleaning supplies. Instead, you can make your own natural cleaners using items you have at home. Look up online tutorials to save with DIY techniques instead of spending on branded products.
69. Learn basic sewing for repairs
Learn basic sewing. It doesn’t take long to perfect, and you can fix your torn clothing instead of discarding it or buying new ones. Look up self-help videos online. This will come in handy and save you money as well.
70. Practice preventive car maintenance
Maintaining a car isn’t easy, but constant checking and monitoring can prevent shelling too much on repairs.
Sustainable Living
Save money with the ideal life. Have a happy, content, and sustainable lifestyle by adopting these tips for daily savings.
71. Reduce, reuse, recycle
Many things in your home can be recycled and reused, from clothes to electronic gadgets. Don’t discard items. Reuse or recycle.
72. Use cloth diapers
Diapers cost a bomb! A new baby in the house automatically means added costs. Save money and up the giggles with comfortable cloth diapers, which are cost-effective and reusable.
73. Use a water filter instead of buying bottled water
Buying bottles instead of filters can be tempting, but you might spend a lot. Use water filters to save money on water. Cut costs on bottled water and increase water usability.
74. Use a refillable water bottle
Get water cans or bottles that can be refilled and reused. This is better than buying water bottles.
75. Reduce paper use
Be mindful of the amount of paper you use. Reducing paper use saves money, conserves natural resources, and reduces waste.
76. Recycle and sell scrap metal
If you have old metals from your automobile, gadgets, or appliances lying around in your garage, polish them, recycle and sell them on scrap metal platforms.
Social and Family
Cut down certain social and family costs to save money for the future with these tips:
77. Cancel unused subscriptions
You might be paying monthly for streaming platforms you don’t use. Review unused subscriptions, cancel, and save money.
78. Share subscriptions with family
Share subscriptions with family members and split fees. Everyone can benefit, and splitting costs helps you save money.
79. Barter services with friends
Don’t hesitate to ask for help from friends in an emergency, whether getting something fixed or giving you a lift. Make sure to return the favor.
80. Exchange babysitting with neighbors
Spending a bomb on your nanny? Instead, ask your neighbors to babysit your kid while you do your chores. Make sure to return the favor.
81. Downsize your home or car
With a big car or home comes big responsibilities. Maintenance, repairs, and more cost a lot. Downsize your home or car to help you manage expenses and save money.
Miscellaneous
Some expenses are just too subtle to notice. Here are all the ways you can save money on miscellaneous expenses.
82. Quit smoking
Whether it’s occasional or often, quit smoking. This bad habit can cost you your health. Quitting can help you improve your quality of life and save money.
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83. Use cashback and rewards programs
Don’t miss out on cashback and reward programs from stores. Collect coupons and rewards to help you save money when you shop later.
84. Shop with cash to limit spending
Shopping with cash can be difficult, but it will help you save money and spend mindfully. Make sure you shop within a limit and not overspend.
85. Avoid late fees with automatic payments
When you set up automatic payments, ensure you set money aside or transfer before the due date. Automatic payments ensure you don’t have to miss a due date or pay late fees.
86. Negotiate lower rates on bills
If you’re paying high-interest rates on your credit card, talk to your company and negotiate your bill. Look for ways to minimize spending and save money.
87. Refinance your mortgage
Pay low interest rates or choose alternate options to finance your mortgage. Save money on your house.
88. Consolidate debt
If you have many loans with high interest rates, consolidate them into one single loan with lower interest rates. Look for low-interest debt consolidation options on Beem’s personal loan marketplace.
89. Use public libraries
Don’t take up expensive subscriptions or spend money on costly internet. Visit public libraries to access books, CDs, and other educational resources. Save money with free resources.
90. Take shorter showers
A nice hot bath may be relaxing, but avoid standing there too long as it may cost you too much water and hike your electricity bill. Take short, quick showers to save water and money.
91. Exercise outdoors instead of a gym
Cancel your gym membership and go for jogs or a walk in the park instead. Buy second-hand or cheap equipment so you can work out at home. Save money and stay fit.
92. Travel off-peak times
Book travel tickets well in advance and be flexible with dates. Traveling off-season has its perks. Get better deals and access cheaper tickets.
93. Maintain and repair household items
Learn basic repair techniques to help you when needed. Check, clean, and maintain household items to avoid spending money on costly repairs.
94. Use a fan instead of AC
Using air conditioners at home can increase your electricity bill. Cut down costs by switching to a fan instead. Ceiling fans are cheaper and save you money as well.
95. Avoid extended warranties
When buying appliances or automobiles, read through the policies and warranties. Avoid unnecessary extension of warranties if you don’t use the product often.
96. Brew your own beer or wine
Beverages are expensive. Instead of buying wine and beer, brew them at home. You can make it fresh at home, save money, and enjoy your own DIY drink.
97. Participate in community gardens
Look out for community events and programs to socialize, make new friends, create your own home garden and give back to the community.
98. Use rewards from credit cards wisely
Use the reward points you get from using credit cards wisely. Save them up and use them before they expire. Look for a good cash back or special offers to redeem them.
99. Use energy-saving light bulbs
Be it inside the home or hanging lights outside, opt for cheap, efficient bulbs that conserve electricity. This will help you cut costs and save money.
100. Implement energy-saving measures at home
Install heat and energy-consuming appliances at home with equipment to balance and maintain temperatures. Set aside some money for maintenance charges.
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Conclusion
By implementing these 100 different strategies to save money, you can avoid financial pitfalls, secure your financial future, and ensure you always have some money saved for emergencies. Use these 100 steps to set aside money, stay healthy, and build good personal finance practices. Moreover, use Beem to get a little boost with easy access to emergency funds. You can also use the Beem Super App to buy affordable car insurance, shop for low-interest personal loans, open high-yield savings accounts to make your money grow, and save money on taxes. Secure your financial future with the Beem app and use it to track all your expenses, bills, and subscriptions in one place with smart budgeting tools to make life affordable for you and your loved ones.
