Save Money Now with These 26 Tips

Are you trying to save money now?

You’re in luck. I’ve been in your shoes before and want to share my tips on how you can start your money saving journey as soon as possible.

Whether you’re trying to save for a larger purchase, such as buying a home, or trying to make ends meet, hopefully these tips will point you in the right direction.

Here are my top tips on saving money:

1. Know How Much You Make to Save Money Now

When you’re trying to save money, you must start with understanding how much income is flowing into your home.

If you aren’t sure of how much you, or your spouse, make each month look at your bank statements and paycheck stubs. This is vital information you must have upfront.

2. Know How Much You Spend to Save Money Now

The next step in saving money is knowing how much money you’re spending. Look at your bank statement and add up how much money you spent last month.

It’s also helpful to see where you’re spending your money. This will give you clues as to where you can start trimming expenses first.

3. Make a Budget to Save Money Now

crop payroll clerk counting money while sitting at table
Photo by Karolina Grabowska on

Now that you know how much you make, how much you spend, and where you’re spending your money, you can create a budget.

Make a list of all the things you must pay each month. Also, note anything that is a necessity aside from bills. Create a space for every dollar brought into your home to ensure you have your finances by the reins.

4. Trim the Fat to Save Money Now

As I mentioned earlier, when you know where you’re spending your money, it’s time to start trimming the fat.

If you notice a lot of your money is going to the coffee shop, you need to stop going there as much. If you’re eating out a lot, it’s time to start eating at home. By doing these things, you’re trimming the fat.

5. Put Savings Out of Reach to Save Money Now

When you’re broke, it can be hard not to reach for your savings account. This is why it’s important to separate your savings account from your checking account.

Make it as difficult as possible to transfer funds from your savings to your checking account. This will require extra effort on your part to move money between accounts. It might help you hang on to your savings through the hard times.

6. Start Saving Automatically to Save Money Now

Another thing you can do to save more money is to make regular deposits into your savings account. You can arrange this with your bank or with the payroll department at your company.

Either way, if you make automatic deposits into your savings account, the money should add up. It also removes one more decision from your day because you decide how much to save one time, and it’s done automatically from there on out.

7. Save Your Change to Save Money Now

If you use cash, always round up how much you pay. This will mean you receive change back. The change should then be added to a jar in your home.

Overtime, it will add up to a decent amount of money. Plus, you’re less likely to spend change than you are dollar bills.

8. Cash Only to Save Money Now

In an effort to save money, try to use cash only. This will help you collect more change for savings, but it will also allow you to physically touch the money you’re budgeting.

It makes you more connected to your money and makes it easier to spend accordingly. If you use the envelope system, and you see the money is running low, it might cause you to rethink your choices before you go overboard on spending.

9. Generic is a Good Choice to Save Money Now

Some people get caught up on name brands. There are some items which taste or look different based upon the brand.

However, generic brands have come a long way since they were first introduced. Consider buying generic to save money.

10. Ditch Your TV

There are many different ways to view your favorite shows. You can choose between cable or streaming services.

Depending upon your situation, you might need to go with the cheapest option. If you’re looking to save even more money, stop paying for television services. You can find other ways to entertain yourself for less money.

11. 30-Day Fast

Have you been on a spending spree? This can happen when you’re building a home, moving between homes, or completing a project.

You get in such a habit of spending money, it can be hard to quit. When the build, move, or project is over, cleanse your mental state by spending thirty days where you only spend money on necessities. It will help you shift back into the mindset of saving money.

12. Stay Home (for Vacation)

Vacations are important. It doesn’t matter if you’re saving money or not. Everyone needs a break from their daily grind.

However, there are ways to take a vacation without breaking the bank. You can take a vacation on a budget or enjoy a relaxing staycation around your home.

13. Refinance

This tip on saving money will depend upon the amount of equity you have in your home or car, and the current interest rates.

However, if you have enough equity in your belongings to cover closing costs, and interest rates are good, you might be able to save serious money by refinancing.

14. Sell Unwanted Items

We all have things around our home that we no longer use. If items surrounding you are no longer in use and don’t bring you joy, why keep them?

Instead, you could sell these items and bring in extra money. This could be stashed in your savings account or put towards paying off debt.

15. Cancel Your Subscriptions

Automatic subscriptions are one of the biggest money-suckers on the market. When you can afford certain subscriptions, use them.

However, most of us have subscriptions we don’t even use. If this is the case, stop any unused monthly subscriptions to save serious money.

16. Open a Window

We’ve covered many of the basics on saving money, but one of the best ways to save money is to cut back on your electric bill.

One easy way to decrease the amount of electricity used around your home is to turn off the air conditioner and open a window. Can you think of any other ways to cut back on electricity? Try them out and see how much you save.

17. Drive Less

The price of gas keeps climbing which makes this money-saving tip even easier to use. Don’t drive around aimlessly.

Instead, be intentional about the times you drive. When you drive less, you spend less on gas. Therefore, these efforts can help save you money.

18. Eat at Home

Eating out can be delicious, but it’s also expensive. Stop wasting your money on food. If it’s a special occasion, go out to eat.

If going out to eat is something you do to avoid cooking, start learning how to cook. Otherwise, you’re going to continue eating your hard-earned money.

19. Pack Your Food

Whether you’re going to work, running errands, or planning a road trip, be sure to pack your food. Otherwise, you might be tempted to eat at a restaurant.

Again, if this is something you do occasionally, it isn’t a huge deal. However, if this is a regular habit, you’re spending a lot of money on unnecessary items.

20. No Credit Cards

Credit cards are one of the biggest debt traps out there. They encourage people to spend more money than they actually have.

Then you’re sucked into an added monthly bill and interest. Therefore, it’s best to operate on cash only and live within your means.

21. Ditch Your Debt

If you have any debt, it’s time to develop a plan to get rid of it. Debt means, in most cases, that you’re paying interest.

Plus, your monthly expenses are higher due to debt. Trim the fat by getting rid of all debt. This might be a process, depending upon how much debt you have, but it’s worth it to save money and gain financial freedom.

22. Cook from Scratch

If you go to the grocery store and buy convenience food, you’ll notice your grocery bill will be higher than if you purchase less expensive foods to cook from scratch.

Cooking from scratch tastes better and costs less. Skip the convenience in cooking because you’ll pay more.

23. Clear Your Inbox

I rarely sign up for email subscriptions because I don’t like having a cluttered inbox. However, I do have a few places I like to keep up with.

You must be careful when subscribing to anything with your email. If cute clothes and coupons are an enticement for you to spend money, delete the emails immediately.

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24. Shop for Insurance

People overpay for insurance all the time. You want to know why? It’s because we get comfortable where we are and shopping for insurance stinks.

However, it can save you quite a bit of money. Therefore, you should shop around for home, car, and renter’s insurance to be sure you’re paying the lowest rate possible.

25. Make Your Own Coffee

I mentioned this briefly before, but people spend so much money on coffee. I have my favorite coffee drink as well.

It’s difficult to adjust to making coffee at home, but it’s definitely a great way to save money. Consider making your own DIY coffee drinks to keep the flavor profile high and the prices low.

26. Free Entertainment

I didn’t realize how much free entertainment is out there until I started looking a few summers ago. If you like to read, the library is a great form of free entertainment. You can also rent movies for free at most libraries.

Many communities have a splash pad for children to play in. You should also check out your town’s social media profiles because it’s common for communities to have free concerts and movie nights as free entertainment for its residents.

This concludes the ways you can start saving money now. I know saving money is hard work. It’s also taxing mentally because it’s the opposite of what the world around us tells us to do.

Instead, we receive constant advertisements about spending money. Stop the cycle and start saving today.

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