Let’s save some money! Here are 104 ways to save money.
Why save money? Well, so you can afford your future. So you have an emergency fund and you won’t have to rely on credit to get you by. So you can do some fun things (i.e. that big down payment). There are lots of reasons to do it.
Why 104? Because it’s double my other list, 52 Ways to Make Extra Money, and I like a challenge. Okay, let’s start saving money!
To make it easy, I’ve broken the different ways into handy categories:
Table of Contents
Ways to Save Money Fast
Want to save money fast? Get ready to hustle and cut back on unnecessary expenses.
1. Return Things
What did you recently purchase that you could return? Past the refund date? Don’t have a receipt? Who cares. Try anyway. Returning things you no longer need or want will help you get back some of the money you spent on them. This is a quick win.
2. Score a Signup Bonus
Have you tried capitalizing on sign-up bonuses? Look for some right now. With some companies, you can earn more than $100 just by registering and following a few steps. It’s an easy way to reap financial rewards with minimal effort!
3. Start Tracking Your Spending
You can start this immediately. Tracking your spending is a great way to observe where you’re overspending and make the necessary changes to save more money. It can help you get a better handle on where your money is going and reveal how much you’re currently saving and provide insight into potential growth areas.
4. Renegotiate Everything
Start with renegotiating your monthly bills, such as your cable or internet bill. This can help you lower your monthly expenses. This company negotiated my monthly bills to save me $324. Get this started today and expand into other things you could negotiate.
5. Use this Free Net Worth Tracker
Empower is a free online tool that helps you track your net worth and plan for your financial future. Seeing your net worth will inspire your savings efforts. It’s free to use, and it’s a fantastic tool.
6. Download a Passive Saving/Earning App
Many apps help you earn passive income by investing in spare change or renting your car. We’ve got a whole list you can sort through. Download one today and get started.
7. Visit a Trusted Money-Saving/Making Website
We maintain an extensive list of websites that can help you find ways to save and make money, such as taking surveys or renting out your property.
8. Install the DollarSprout Extension
The DollarSprout Rewards extension automatically finds and applies coupon codes when you shop online, helping you save money on your purchases. More importantly, it does all of this without selling your data to companies. This extension works for international users as well.
Ways to Save Money Each Month
Making a monthly budget and cutting back on monthly subscriptions can help you save money each month.
9. Collect Credit Card Rewards
I don’t spend any money on hotels or flights each year. That’s a huge savings. I do it by using credit card rewards. Collecting credit card rewards can also help you earn cash back or other benefits on your everyday purchases, which can add up to significant savings over time.
Earning those rewards quickly and efficiently is key. Make sure you have the right cards in your wallet.
10. Use a Free Checking Account
Don’t make the bankers rich. Avoid checking fees. A free checking account can help you avoid monthly fees affecting your savings.
11. Drop the Storage Unit for Neighbor.com
Neighbor.com will allow you to save money by getting rid of the storage unit. Instead, Neighbor.com will show you someone in your neighborhood who has an extra closet, garage, etc for you to use instead. Save on monthly fees.
12. Do a Spending Review
Doing a spending review, where you look at your expenses and see where you can cut back, can help you identify areas where you can save money each month. It’s best to do one of these every month. Include your spouse on the review if you’re married.
13. Switch to a Cheap Cell Phone Plan
Switching to a cheaper cell phone plan can save you hundreds of dollars a year. This could be big and could result in significant monthly savings.
14. Start a Budget with this Free Software
Starting a monthly budget with free software, such as Mint or EveryDollar, can help you keep track of your income and expenses and identify areas where you can cut back.
15. Switch to No-Fee Investing
Switching to no-fee investing, such as with a robo-advisor, can help you save on investment fees and increase your returns over time.
16. DIY Personal Care
Doing your own personal care, such as cutting your hair, doing your nails, etc., can save you monthly money. If you can’t stand the thought of giving up these services then switch to doing them quarterly or every other month.
17. Budget for Your Unexpected Expenses
Budgeting for unexpected expenses, such as car repairs, medical bills, or high utility bills, can help you avoid debt when these expenses arise.
18. Use the Cash Envelope System on Steroids
Using the cash envelope system on steroids can help you stick to your budget and avoid overspending. Learn more about this system where you set aside cash for different expenses and only spend what you have allocated.
Ways to Save Money on Big Things
Saving money on big purchases like cars and houses can feel like a game, but with a bit of research, you can come out on top.
19. Join a Healthshare Plan
Joining a healthshare plan can help you save money on healthcare costs by sharing costs with other members of the plan. These aren’t just for Christians anymore. There are healthshare plans for those of the Jewish faith and for the non-religious. This has saved me thousands over the last ten years.
20. Automate Your Savings
Automate your savings by setting up automatic transfers or a direct deposit from your employer or checking account to a separate savings account. This is my #1 way to save, and it will help you consistently save money without thinking about it.
21. Use a Fee-Only Financial Advisor
Using a fee-only financial advisor can help you save money on investment fees and increase your returns over time.
22. Raise Your Deductibles
Here’s an obvious one. But you may not have done it in a while. Raising the deductibles on your insurance policies can help lower your monthly premium payments.
23. Switch to One Car
Switching to one car can help you save money on car-related expenses such as insurance, maintenance, and fuel costs. If you’re married, consider this game-changing money saver.
24. Get a Used Car
Now sell that one new car and get a used one. Buying a used car can save you thousands of dollars on payments, insurance, and in some cases, even maintenance.
25. Rent a Car vs. Own
Drop the car altogether and start taking Uber or renting a car when needed. Renting a car instead of owning one can save you on maintenance and repair costs.
I told you these were big ways! Moving to a more affordable location (out of town or to a different state) can save you money on housing and other living expenses.
27. Refinance Debt
Refinancing debt, such as student loans or a mortgage, can lower your interest rate and monthly payments. This is huge for mortgage interest savings and for getting a lower payment. Best to do this when rates have fallen.
28. Learn to Stop Your Shopping Addiction
If impulse spending is a problem, then you may need to address your spending like it’s an addiction. Treat it like any other addiction and get help.
29. Quit that Bad Habit
Here’s another obvious one, but it needs to be said. Quitting a bad habit, such as smoking, can help you save money and improve your health.
30. Buy a Car the Right Way
If you are going to buy a new car, then doing it the right way can save you a ton of money upfront. By researching, comparing prices, and learning to leverage public (and private) pricing info, you can get a better deal.
31. Learn to Make Better Savings Goals
Think high-level and focus on your “why.” Learning to make better savings goals, such as by setting specific and measurable goals, can help you save money more effectively.
32. Switch to a Money Saving Career
Here’s one of the biggest money saving strategies. Switching to a money-saving career, such as one with a higher earning potential or lower expenses, can help you save more money over time. For instance, could you do your same job with an employer who would let you work from home vs spending all the time and money to go into an office?
Ways to Save Money at Home
From cutting energy costs to finding deals on groceries, there are plenty of ways to save money at home. And if you don’t have a home, these tips can help you set money aside for that big down payment!
33. Work from Home
If you can, move your work to your home. Working from home can save you money on transportation costs and other expenses related to commuting. Just be careful not to spend too much on new athleisure clothes.
34. Team Up with Your Spouse on a Joint Budget
Teaming up with your spouse on a joint budget can help you have a clear financial plan and work together to save money. My wife and I did this early in our marriage and it made a huge difference.
35. Set Out a Coin Jar
Setting out a coin jar can help you save small amounts of money that you might otherwise spend on unnecessary things. A penny saved is a penny earned!
36. Eat Healthy on a Budget
Healthy foods don’t have to be expensive. Eating healthy on a budget can help you save money by avoiding costly convenience foods, doing smart grocery shopping, and eating more nutritious, home-cooked meals.
37. Lower the Thermostat
Lowering the thermostat can help you save money on heating costs. Your family probably won’t notice if you turn down the heat by one degree. Alternatively, raising the thermostat in the Summer is also a great way to save. Install a smart thermostat to make this process automatic.
38. Clear the Fridge/Cupboard Night
Once a week, have a “clear the fridge” and “clear the cupboard” night. This can help you avoid impulse buys and save money by using food before it goes bad.
39. Meal Prep
Meal prepping can help you save money by cooking bulk and avoiding eating out as much.
40. Buy Used (or Free) Furniture
Buying used (or finding free) furniture can help you save money on depreciating home decor and furnishings.
41. Get Organized
In an organized home, you make space to think about ways to save. And you make use of what you have. Organizing can help you save money by keeping track of your expenses and avoiding duplicates.
42. Recruit Your Kids
Skip the cleaning service and lawn service. Recruiting your kids to help with cleaning and organizing can help you save money by dividing the workload and getting more done in less time.
43. Do the Cleaning this Month
Don’t have kids? Do it yourself. Doing the cleaning this month can help you save money by avoiding costly cleaning services.
44. Eat Only at Home for a Week/Month
Don’t deprive yourself completely. Choose a smaller approach to saving on food and plan to eat only at home for a week or month.
45. DIY Home Stuff
DIY home stuff, like making your cleaning products or home repairs, can help you save money too. You can do most basic home repairs yourself if you take some time to study the manual or look online for video tutorials. And basic improvements, like painting, can be done cheaper if you use your labor.
Ways to Save Money Online
Online shopping and the Internet can be a money trap, but with discipline and smart surfing, you can save money while still getting what you want.
46. Cancel Your Subscriptions
Here’s a quick win. Get online (check your iPhone subscriptions too) and cancel unused subscriptions. Canceling subscription plans (like those streaming services) you no longer use can help you save money by eliminating unnecessary monthly expenses.
47. Start Making Personal Finance Content (Blog, Youtube, etc.)
Talk about saving accountability. Starting a personal finance blog, YouTube channel, or other online content can help you save money by sharing your tips and tricks with others. You’ll also earn money by monetizing your content.
48. Switch to a Term Life Insurance Policy
Switching to a term life insurance policy can help you save money by choosing a policy that only covers you for a certain period rather than a whole life policy.
49. Download these Free Excel Templates for Budgeting and More
Downloading free Excel templates for budgeting and other financial planning can help you save money by keeping track of your expenses and budgeting effectively. And you aren’t spending money on expensive software. Excel is the best, anyway.
50. Earn Cash Back
Earning cash back by shopping through cash-back websites and using cash-back credit cards can help you save money by receiving a percentage of your purchase back as cash. Of course, if you have credit card debt, don’t do this one.
51. Visit the Best Online Deal Sites
Visiting the best online deal sites can help you save money by finding the best deals and discounts on the products you want to buy.
52. Use a Free Retirement Calculator
A free retirement calculator can help you save money by planning for your retirement and ensuring you’re on track to reach your goals.
53. Drop the Financial Advisor and Use a Robo-Advisor
Dropping a financial advisor and using a robo-advisor can help you save money by reducing the high fees associated with traditional financial advisors.
54. Travel Hack
Travel hacking can help you save money by making the most of your credit card rewards. Hacking also involves finding the best deals and discounts on flights, hotels, and other travel expenses.
55. Improve Your Credit Score
Improving your credit score can help you save money by qualifying for lower interest rates on loans and credit cards.
56. Switch to Open Sourced Software
Switching to open-source software can help you save money by using free, community-developed software rather than expensive proprietary options.
57. Find the Cheapest Fuel
Finding the cheapest fuel can help you save money by comparing prices and choosing the best option. Use an app or simply Google maps to help you find them.
58. Listen to a Money Podcast
Listening to a money podcast can help you save money by learning from financial experts and gaining valuable tips and strategies.
59. Unsubscribe and Turn Off Notifications
Unsubscribing and turning off notifications from unwanted emails and apps can help you save money by avoiding impulse buys and unnecessary expenses.
Ways to Save Money on Taxes
Don’t let taxes drain your bank account, learn ways to save money on taxes and keep more of your hard-earned cash.
60. File Your Taxes for Free
Many free options are available to file your taxes, such as Free File from the IRS, which allows individuals who make $72,000 or less to file their federal taxes for free.
61. File Your Business Taxes for Free
Small businesses can also take advantage of free tax filing options, such as the IRS Free File program for small businesses.
62. Track Your Deductible Business Miles for Free
By keeping track of the miles you drive for business purposes, you may be able to claim a deduction on your taxes. Several free apps can help you track your mileage.
63. Open a SEP IRA
If you’re self-employed or own a small business, you can open a Simplified Employee Pension (SEP) IRA. Contributions to a SEP IRA are tax-deductible and can help lower your overall tax bill.
64. Open a Traditional IRA
If a retirement plan does not cover you through your employer, you may be able to take a deduction for contributions to a traditional IRA. It allows you to save money on taxes by deducting your contributions from your taxable income.
Creative Ways to Save Money
Get creative with your savings, think outside the box and find new and unexpected ways to save money. These creative ways to save money will hopefully spur other ideas.
65. Say a Prayer of Gratitude Each Day
I do this every night and also teach my kids to do this. Saying a prayer of gratitude each day can help shift your mindset to one of appreciation and contentment, which can, in turn, reduce the urge to overspend.
66. Ask AI for Unique Savings Advice
Asking AI (like ChatGPT) for unique savings advice can help identify new and innovative ways to save money that you may not have considered.
67. Download an Automatic Savings App
Automatic savings apps can help you save money by automatically transferring a set amount from your checking account to your savings account each month. Use an app instead of having to set it all up yourself. This is the perfect way to kick start that emergency fund savings account.
68. Take the 52-Week Challenge
The 52-week challenge is a savings plan where you save a set amount of money each week, starting with $1 and increasing by $1 each week.
69. Start a Money Saving Hobby
Starting a money-saving hobby, such as couponing, investing, or something wild like collecting golf balls can help you learn new ways to save money and make it more fun.
70. Become a Mystery Shopper
Becoming a mystery shopper can help you save money by getting paid to shop and by getting free food. It also provides valuable information to businesses on how to improve their customer service.
71. Take a Free Trip to Disneyland
A free trip to Disneyland can be made by applying for the Disney College Program, which offers the opportunity to work at Disneyland for a semester and live on campus for free. Better yet, travel hack your way to Disney for free.
72. Vacation in Dallas
Vacationing in Dallas can be a budget-friendly option. The city offers a wide range of free activities, such as visiting the Arts District and the Dallas Farmer’s Market. I should know. I live here and I wrote the best guide to free things to do in Dallas. It’s a lot!
Ways to Save Money Slow
Slow and steady wins the savings race, take your time and make small changes to build up your savings.
73. Purchase a 5% CD
Purchase a 5% certificate of deposit (CD) to earn a higher interest rate on your savings. Yes, these 5% CD rates are available now. CDs are paying interest like never before!
74. Open a High-Yield Savings Account
Open one of these high-yield savings accounts for a higher interest rate on your savings. Classic. Savings accounts are paying great interest right now, too!
75. Build a CD Ladder
Create a CD ladder to take advantage of high-yield CDs while maintaining access to your money. This is easier than it sounds now thanks to banking technology. With rates as high as they are it’s a good time to deploy this.
76. Develop Your Money Skills
Investing in yourself is really the best way to save. Develop your money management skills to make better financial decisions. Check out a resource like the FDIC Money Smart program.
77. Take the 31-Day Challenge
Take the 31-day money-saving challenge to build better spending habits. I built this challenge to give you a roadmap to getting things done for your finances.
78. Purchase I Bonds
Invest in I Bonds to earn a fixed rate of return, plus inflation protection. These rates are incredible.
Ways to Save Money on Your Business
Running a business can be costly, but with a little planning, you can find ways to save money and boost your bottom line.
79. Switch to Free Accounting Software
Switch to free accounting software to save on monthly subscription fees and improve your bottom line.
80. Use a Free Productivity Tool
Utilize a free productivity tool like Trello or Asana to improve workflow and streamline tasks without spending money on a paid program.
81. Skip the Loan
Skip the loan and focus on building up quick sales and cash reserves to fund your business expenses.
82. Stay at Extended-Stay Hotels
Save on accommodation costs by staying at extended-stay hotels while on business trips. They are also great for families of five, like mine.
83. Grow Hacking & SEO
Implement “grow hacking” and SEO techniques to attract more customers and grow your business without spending money on traditional advertising.
84. Hire Freelancers
Hire freelancers instead of full-time employees to save on benefits and overhead costs.
85. Switch to Remote
Switch to remote work to save on office expenses and improve employee satisfaction.
Ways to Save Money Using Your Mind
Using your mind to think strategically and make smart financial decisions can help you save money in ways you never thought possible.
86. Get Passionate About Frugality
Cultivate a love for frugality and minimalism by understanding the benefits of living below your means. Not because you want to hoard all your cash. Because you want to use it for good.
87. Use the Sleep On It Strategy
Take the time to sleep on big purchases, allowing emotions to subside and making a more rational decision. On purchases over $100, wait two days to think it over before you make the purchase.
88. Overcome Your Poor Money Mindset
Recognize and challenge your negative thought patterns around money to improve your financial well-being.
89. Use One of These Psychological Tricks
Take advantage of psychological tricks such as mental accounting, loss aversion, and the endowment effect to make better financial decisions.
90. Spend Money on Just What You Want
Prioritize spending on things that truly matter to you and cut back on unnecessary expenses.
91. Learn to Spend Money Wisely
Develop the skill of spending money in a way that aligns with your values and goals.
Extreme Ways to Save Money
Ready to take your savings to the extreme? Try unconventional methods to save money and watch your savings soar.
92. Live Like a College Student
This strategy involves cutting back on expenses by adopting the same frugal habits you may have had during your college years, such as cooking your own meals and finding free or low-cost entertainment options.
93. Become an Extreme Cheapskate
This approach takes frugality to the extreme by cutting back on expenses as much as possible. This could include using coupons, buying only necessities, and avoiding unnecessary purchases.
94. Go on a Spending Freeze
A spending freeze is when you stop spending money for a set period. This can help you to re-evaluate your spending habits and identify areas where you can cut back. We do this every January with our dining-out expenses.
95. Drive a Gas Guzzler
Skip the expensive Teslas and hybrids. Buy a cheap, used car and enjoy your savings. Fuel prices can’t touch the price differences in new vs used and cost of maintenance.
96. Go Cash Only
Crazy, but it works. This approach involves only using cash for purchases to limit overspending and better track your spending habits. It also prevents you from spending at many places. Pay cash, and win!
More Ways to Save Money
When saving money, there’s always more to learn; explore new and unique ways to save even more of your hard-earned cash.
97. Write Down Your Spending as You Go
Writing down your spending as you go can help you track where your money is going and identify areas where you can cut back. “I spend so much money on…”
98. Visit Museum, Parks, and the Library for Fun
Visiting museums, parks, and libraries for fun can be a great way to entertain yourself without spending much money.
99. Split the Meal
Portion sizes are huge these days. When dining out, split a nicer meal with your significant other. Splitting a meal when eating out can help you save money on food while still enjoying a meal out. Dining out alone? Split the meal and take half home for your next meal.
100. Take a Staycation
A staycation, or vacationing at home, can be a great way to save money while still enjoying some time off. No need for a big expensive vacation. Take a week off of work and do a bunch of activities in your hometown. Skip the hotel and airfare costs and spend more on entertainment and dining out for the week.
101. Car Pool or Public Transport
Carpooling or taking public transportation can help you save money on gas and vehicle maintenance.
102. Volunteer Time vs. Money
Volunteering your time instead of spending money on activities can be a great way to give back to your community and save money.
103. Find Free Events
Finding free events in your community can be a great way to have fun without spending a lot of money.
104. Ask Friends & Family to Help You Save
Asking friends and family to help you save money can provide accountability and support as you work on reaching your financial goals.
Conclusion: Why Do This?
Congrats on making it to the end. Hopefully you’ve found something here that you could use. Remember, saving money can help you achieve multiple goals – from taking a dream vacation to preparing for retirement.
By putting aside even just a little bit of your income each month, you can build up a substantial sum that can be used to purchase large items such as houses and cars or pay off debt.
Saving money also provides peace of mind and the assurance that you are prepared for unexpected life events such as job loss or medical emergencies. Get that emergency fund built!
Over time, saving money can make all the difference in helping you reach your financial goals. Start saving money today!