In today’s fast-paced world where expenses seem to multiply by the minute, mastering the art of saving has become essential for financial well-being. Whether you’re looking to build your savings, pay off debt, or simply stretch your dollars further, we’ve compiled a comprehensive list of 20 money-saving tips that can help your wallet. We’ll discuss practical strategies for slashing everyday expenses to hacks for maximizing your resources. Let’s dive in and discover the tricks to smarter spending and saving!

Create a budget and stick to it

I know, this might seem like common sense, but many people are still not utilizing a budget. Having a budget doesn’t have to be a scary or limiting thing. Think of it more as a way of you telling your money where to go. This helps you stay on track and plan for the future. Follow a simple formula like the 50/30/20 rule. This is where 50% of your income goes to needs, 30% to wants, and 20% to savings. Use pen and paper to make a budget or a digital tracker app.

Cook meals at home instead of dining out

The convenience of dining out might seem like a good idea, but the cost can really add up. Start by planning out your weekly meals. Take time on the weekend to write out all your meals for the upcoming week. This can help you go to the store with a plan in turn saving you more time and money as well.

Ibotta cashback app

Using a cashback app like Ibotta can help you get back some money on products that you are already buying. I have personally received more than $500 in cash back savings. This can really add up over time. Sign up here are get a $5 bonus when you redeem your first offer.

Fetch Rewards

This is another money saving app. Fetch Rewards is slightly different than Ibotta in the way that you only have to scan your receipt to get points. This goes for every receipt you have. The points add up and you can redeem them for your favorite giftcards. Sign up here for Fetch Rewards to get a bonus of 250 points. Or use code BV7TJ when joining.

Cancel unused subscriptions and memberships

Go through your statements and figure out which subscriptions and memberships you have. You may find one that you have forgotten or don’t use anymore. Maybe you signed up for a trail and forgot to cancel it. This can add up to monthly savings simply by canceling unused subscriptions.

Buy second-hand items or borrow instead of purchasing new

Before running to the store check a second-hand platform for what you need or better yet ask someone you know if it is something that you could borrow. Checking Facebook Marketplace, Ebay, or other used site can really save you some extra cash.

Grow your own fruits, vegetables, and herbs

Besides just being a rewarding hobby, gardening can help reduce your grocery bill. Start with something easy like lettuce and go from there. It can be easy as using a raised garden bed or simply growing some herbs in a container. When you get the hang of it start adding in a variety of different fruits and veggies.

Negotiate bills and expenses such as cable, internet, and insurance.

Get in contact with the companies you use and see if there is any way to lower your total amount. Sometimes just calling and asking can help make a difference on these expenses. Or even shop around and switch what you are currently using to a different provider.

Take advantage of free entertainment options like libraries and parks

There are many free options for entertainment that you can utilize. Try checking out a local park or go for a hike. You could also check with the local towns in your area for free events going on. You can often find many different offerings.

Sell unused items online or at a garage sale

Go through your home and look for items you are no longer using. I have had great success on Ebay, but larger items may be better to sell on Facebook Marketplace. This can help bring in some extra cash while also decluttering unused items in your home.

Set up automatic transfers to savings accounts before spending

Have an automatic transfer from your checking to your savings each month before doing any major shopping. You may find that you can save more money rather than spending on an impulse buy.

Avoid impulse buying by waiting 24 hours before making non-essential purchases

Try waiting 24 hours before making a new purchase. This may have you realize that you don’t really need the item you were looking at. If you find that you do consider borrowing it or buying it used if it is something that you need.

Compare prices before making big purchases

Check online before making any large purchase and really compare the prices. This can make a huge difference and save you lots of money. Try pairing this with Swagbucks or Rakuten which often provide cash back just for clicking a button. This is an easy way to bring in the savings. I have personally received over $350 cashback with Rakuten.

Earn extra money in your spare time

Speaking of Swagbucks, use sites like these to bring in extra money each month. You could easily bring in extra money each month this way. Click here to get started with a $10 bonus on Swagbucks.

DIY whenever possible, from home repairs to gifts

Try experimenting with creating gifts instead of buying them. In my experience people enjoy receiving a thoughtful handmade gift. There are many ideas on Pinterest you could try out. Places like Home Depot also offer classes to learn a skill or hop on over to Youtube to learn.

Use free online resources for learning

As mentioned above, there are many online sites that you can utilize to learn skills for free. This includes the library, Youtube, Duolingo, or Khan Academy. Start with a Google search of what you are trying to learn and go from there. You should be able to find some sites that canhelp you learn what you are looking for.

Use a water filter instead of buying bottled water

Try using a water filter instead of buying bottled. This could be something small for your fridge or something larger that sits on your counter. Doing this not only helps the waste of plastic water bottles but can also save you money.

Use a library card for books, movies, and other media instead of purchasing them

Using the library can be a great resource for finding books or movies. Most libraries also have an online platform that allows you to borrow eBooks and well at audiobooks all for free.

Use DIY cleaning supplies instead of buying commercial products

Try experimenting with making your own cleaner. There are many great recipes on Pinterest to help with this. Or try creating a simple mixture of vinegar and orange peels for a basic cleaner.

Participate in clothing swaps with friends and family

Check in with your family and friends to see if they would be interested in switching up clothes. This works especially great for children’s clothing as they grow fast. Try trading some of your no longer used clothing with some of theirs.

Conclusion

Implementing some of these 20 money-saving tips can significantly help improve your finances. Whether it’s cutting down on unnecessary expenses, taking advantage of discounts and rewards, or adopting frugal habits, each tip offers a practical approach to managing your finances more effectively. I hope that they are helpful to you and your future. Start implementing these tips today to watch your savings grow.

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Disclosure: This post may contain affiliate links, meaning I get a commission if you decide to make a purchase through my links, at no cost to you.