How to Save Money: 30 Simple Ways

Saving money is something that everyone should be doing, especially in today’s precarious economic climate. It’s not always easy, but with a little bit of effort, you can definitely reduce your expenses and start putting more money in your pocket each month.

In this article, we will discuss how to save money and cut expenses in a variety of ways. Some of these tips may be more convenient for you to apply than others, but we hope you’ll find at least a few ideas here that will help you save some cash!

Different Ways You Can Cut Expenses

Try these money-saving tactics to bring down the cost of living, and you may be surprised at how much you can save each month. Without further ado, here are 30 ways to save money and cut expenses:

1. Create a Budget

The first and most important step to take when trying to save money is to create a budget. You need to know where your money is going each month in order to figure out where you can cut back.

2. Review Your Budget Regularly

If you intend to be more frugal, you need to be aware of your spending patterns. The best way to do this is by regularly reviewing your budget. This will give you ideas on how to start saving money after you identify areas where you have been overspending.

3. Make a List Before You Go Shopping

Impulse buying is one of the biggest enemies of thriftiness. That’s why you should make a list of the items that you need to purchase. This will help you stay focused and avoid spending money on things that you don’t really need.

4. Use Coupons and Discounts

Whenever you can, take advantage of coupons and discounts. This is one of the easiest ways to save money, so there is no excuse not to use them! You can often save a significant amount of money on your groceries and other purchases by redeeming coupons.

5. Cut Back on Your Cable Bill

Do you really need all of the channels that you are paying for with your cable subscription? If not, consider cutting back on your package. You can often save considerable sums of money by reducing the number of channels that you have.

6. Consider Switching to a Cheaper Cell Phone Plan

If you have a cell phone, chances are you’re paying too much for your monthly service. So, if you’re wondering how to save money each month, try looking for cheaper alternatives out there, do some research and find a plan that better suits your needs. You can often save a lot of money each month by switching to a less expensive cell phone plan.

7. Quit Smoking

Smoking is not only bad for your health but also rather expensive. If you’re a smoker, quitting is one of the best things that you can do for your wallet. You will save quite a bit each year by kicking this habit.

8. Cook More Often

As dining out of home is getting more pricey, it’s an excellent idea to prepare meals from scratch as often as you can. This doesn’t mean you have to give up your favourite restaurants entirely, but cooking at home a few nights each week is an easy way to save money. Many recipes are a piece of cake to make at home.

9. Make Coffee at Home

Buying coffee every day can ultimately break the bank if you’re not careful. Brewing coffee at home instead is a great way to save money. You can invest in an efficient coffee maker and some quality beans, and you will still save money compared to buying a cup of coffee every morning from a cafe.

10. Use Public Transportation

If you have a car, it’s probably your preferred method of transportation. However, driving everywhere can be expensive. If you live in a city, the best way to save money is to take advantage of public transportation instead. You would be saving money on gas and parking fees as well.

11. Avoid Buying Bottled Water

If you have access to clean, potable water, there is no reason to buy bottled water. Invest in a good reusable water bottle and fill it up with tap water instead. You can also purchase a filter that will improve the quality of the tap water you’re drinking.

12. Invest in Quality Items and Products

If you have to keep buying the same tools or appliances over and over again, you won’t be able to save any money. The same logic applies to any major purchase: For example, you want a car that will endure for years without you having to delve into your emergency fund for repairs.

13. Make Your Own Cleaning Supplies

Cleaning supplies can be expensive, so if you’re looking for tips for saving money, try making your own household cleaners. There are many recipes online for homemade cleaning solutions that work just as well as the store-bought versions.

14. Cut Back on Your Alcohol Consumption

If you find that you are spending too much money on alcohol, try cutting back. You don’t need to give up drinking entirely, but reducing your consumption can save you a lot of money.

15. Shop at Thrift Stores

If you are looking for affordable clothing and accessories, thrift stores are a great option. You can often find used items that are almost brand-new, yet they are much cheaper than new products.

16. Cancel Your Gym Membership

One of the realistic ways to save money is to cancel services you don’t use. So, if you are paying for a gym membership that you never use, the best thing is to just cancel it. There are cheaper and more convenient ways to exercise, such as working out at home or going for a run outside.

17. Get Rid of Your Landline

Do you really need a landline? If you have a cell phone, getting rid of your landline can save you money each month.

18. Buy in Bulk

Buying in bulk can save you money, but only if you are buying items that you will actually use. If you have storage space, buying in bulk can be a clever way to save money on groceries and other household items.

19. Invest in a Slow Cooker

A slow cooker is a great kitchen appliance that can help you save money. Slow cookers allow you to make healthy and affordable meals with minimal effort. There are many easy recipes that you can find online, and start preparing your food from fresh ingredients.

20. Downsize Your Home

If you are living in a large home that you can’t afford, downsizing is a great way to economize. Money-saving ideas include selling your current home and moving to a smaller one, or renting out part of your home to tenants.

21. Invest in Energy-Efficient Appliances

If you are looking to purchase new appliances, you should opt for energy-efficient models. These appliances will save you money on your energy bill each month.

22. Use Cash

When you use cash, you are physically handing over your money, which makes it much easier to see where your money is going each month. Using cash instead of cards makes it  more likely to stick to your budget.

23. Use Cards That Offer Rewards

If you’d rather use a credit card than cash, there are tips for saving money that you can try out. Specifically, credit cards that will give you some of your money back are a great idea. So, with a cashback card, you will be saving money with each purchase.

24. Use Your Debit Card When You Can

Paying with your card can be handy, but you don’t always need to use your credit card. There are some advantages to debit cards over credit cards, like not having to pay interest.

25. Manage Your Debt

The repayment of a loan that has a high interest rate might place a significant strain on your monthly budget. Finding a decent debt consolidation loan can reduce your interest rate and monthly payment, helping you get a handle on your finances.

26. Use a Clothesline

If you’re looking for easy ways to save money on energy bills, try drying your clothes in the sun. If you don’t have a clothesline, you can purchase one at your local hardware store; they are quite inexpensive.

27. Adjust Your Thermostat

In the winter, set your thermostat to a lower temperature to save on your heating bill. In the summer, opt for a temperature that’s just a bit higher than your usual setting to save on your cooling bill. You may cut your energy use by up to 3% for every degree Fahrenheit during an eight-hour period.

28. Insulate Your Home

Adding insulation to your home is one of the good ways to save money on your energy bill because you would be investing in the overall value of your home as well as cutting down on current living expenses. You have to purchase insulation at your local hardware store, but it’s an investment that will pay off on all fronts in the long run.

29. Use a Fan

Fans are an alternative way to keep your home cool in the summer. Using fans can save you considerable sums on your energy bill each month. They not only cost less to buy, but they spend around 1% of the energy consumed by an air conditioner. Also, let’s not forget the money you would be saving on maintenance fees.

30. Get a Home Energy Audit

A home energy audit will help you discover where your home is losing energy and how to become more efficient with your energy consumption. Many utility companies offer free or discounted home energy audits. Therefore, if you want to learn how to start saving money on your monthly energy bill, an energy audit is a good place to start.

Final Thoughts

Saving money could be a challenge for some people because they do not know where to begin or how to be more mindful of their spending. The first step is always the hardest, but after that it will become easier and more natural to save. With these 30 tips for saving money, you can get started on the right foot.


What is the 30-day rule?

One of the best ways to save money is to practice the 30-day rule. This rule simply states that you should not make any impulse purchases but instead take a 30-day cooling-off period before buying anything that is not a necessity. In addition, during the cooling-off period, you may be able to find the item at a lower price if you are willing to wait for a sale or search for coupons.

How much should I keep in savings?

You should have three to six months’ worth of living expenses saved up in case of unexpected expenditures or sudden unemployment.

What is the 50/30/20 rule?

If you’re on a tight budget but have no idea how to save money, try using the 50/30/20 rule. This means 50% of your income should cover basic expenses like housing and food, 30% should be spent on non-essential expenses like entertainment and travel, whereas 20% should be used for savings. This rule can help ensure that you’re putting aside enough for both your short-term and long-term needs.

Milica Milenkovic
We will be happy to hear your thoughts

Leave a reply