[This post is part of the TaxACT How I Save blog tour which teaches you ways to keep more money in your pocket. Last year, TaxACT saved America over $240 million on tax preparation. How much can you save? To learn more about tips and strategies on saving, click here.]
We have decided that 2015 will finally be the year that we gain control of our spending problem. It’s not something that I’ve discussed much recently, as it’s not exactly something to be proud of.
Last year, our spending was completely out of control. Yes, we saved money in some areas, but in other areas we did not do so well. Increasing your income is no good if your spending is increasing as well.
As I always say, I believe that a person can save money and still lead a great life. Too many people think that saving money means that you are making hard sacrifices, but I disagree. The ways that we plan on saving money this year are all realistic, attainable, and they don’t hurt our quality of life. In fact, most of them improve our quality of life.
We are trying to do the things below so that can can head towards a more minimalism and eco-friendly lifestyle. We are not only wasting money, we are wasting other things as well that we shouldn’t be and that is something we would like to change.
Below are the 10 ways to save money that we plan on taking part in this year.
1. I’m going to shop around more for the best price.
I am guilty of not shopping around for the best price and the best quality. If it’s online, I will shop around because it’s easy, but in the cases where I actually have to shop around in person, I am usually very lazy.
I might call or visit one or two places, but usually my search stops there and I will just choose the better out of the two. This has actually led to me wasting money on a bad quality service/product a few times recently, and it’s a mistake that I need to stop making.
2. I’m limiting the amount of money I spend on clothing.
I am declaring 2015 the year that I finally gain control of my clothing spending. I did okay last year, but I definitely think I can work harder and make 2015 my best year yet.
I should have enough clothing to last me all year long, and whatever else I need will be things that I absolutely need.
3. We are going to save money on electricity costs.
One thing that has gone up since we both left our day jobs is the amount of electricity that we use. Since we are both at home almost all of the time, we are using lights, fans, and everything else much more.
We are going to start making more of an effort to unplug or turn off things that we are not currently using.
4. We are getting rid of cable – this is one of our best ways to save money.
I realize I have been saying this for awhile, but we are finally going to cut our cable bill. This is one of my best ways to save money, so cut it out of your life now! It is also a life tip because you will gain so much more free time in your life if you cut your cable package.
Our cable bill right now is only $41 a month and we have plenty of channels (over 100 channels plus HBO), but lately we have noticed that all we watch right now are local channels, so spending the extra money definitely does not make any sense.
We also recently got a digital antenna so that we can get rid of cable but still be able to watch all of the local channels. Then, we will get the rest of our TV “fix” from Netflix.
Related article: Is Cable Worth It?
5. We will be analyzing what we should DIY for our home sale and what we should not.
We plan on talking to our realtor about this to make sure that we don’t end up hurting our home sale at all, but we have decided that we will try to fix some things around our home ourselves.
We are not extremely handy people around the house, but we will do our research and see what is possible so that we can save some money.
6. We are keeping our house a little cooler.
Lately, we have been keeping our house a little cooler than usual. I know some will scoff at what I am about to say since I know others keep their homes colder, but ours is currently set at 69-71. We usually keep it around 74 to 75, and have already noticed a difference in our heating bill over the previous year.
Our latest gas bill was $100, which is much better than the usual $150 to $200 monthly gas bill that we usually receive during the winter months.
What do you keep your heat at?
7. We will go outdoors more to have fun and enjoy life.
The next of my 10 ways to save money is that we will head outside as a source of entertainment.
Last year, we spent way too much money so that we could rock climb, hike, and more. It was all well worth it, so in 2015 we are hoping to continue to use these same items. This should make having a great time outside for pretty much free.
This year, we also plan on getting great use out of our annual national parks pass. Can’t wait to see what amazing national parks we are able to visit in 2015.
8. We will continue working towards earning credit card rewards.
Earning rewards through our credit cards is something that we worked towards in 2014, and we plan on doing the same in 2015. The potential rewards that you can earn are just impossible to say no to.
Please keep in mind that if you tend to rack up credit card debt, then you should avoid this option. Read Are Rewards/Bonus Credit Cards Right For You? if you are interested in reading more on this subject.
9. We will be meal planning as one of our 10 ways to save money.
Recently, I published the article Our Plan To Finally Cut Our Food Spending. Since this time, we have been doing very well with our food spending. One of the best ways to save money in this area for us is to meal plan. I’m estimating that meal planning alone will save us a few hundred dollars a month.
10. We will continue working from home.
The last of my best ways to save money is that we will continue working from home.
Working from home saves us a ton of money and we love what we do! I am saving money in that I no longer have to commute to work. That probably saves me $150 per month right there. I am also saving money in that I don’t need to buy a bunch of expensive business clothing as well.
How do you plan on saving money this year? Don’t forget to enter the TaxACT giveaway below!
Kaelene @ Unlocking Kiki says
Meal planning is key to us saving money as food cost is one of our highest expenses here. Going outside and enjoying free activities is a great way to save money, all those little things add up quickly!
Michelle S. says
We’ve been more strict about meal planning lately and have already saved a great amount of money. Loving it!
Brian @DebtDiscipline says
We will use our library more for free entertainment. Books, Movies, music, etc Also cutting food cost and food waste is a big area of focus for us too this year.
Michelle S. says
We need to go to the library. I don’t know why we don’t!
K says
You guys, you can also access your library online if you don’t feel like going over there. Go to Overdrive.com
Michelle S. says
I just took a look at that website and it looks awesome. Thanks for sharing that!
Clarisse says
One of my ways to save money is to avoid eating lunch out every weekend. We used to have lunch out after church, but now, we will just go home after church and I will prepare for our food.
Michelle S. says
Good job!
Michelle @ Modern Acupuncture says
I’d like to save money by buying less clothing for work. Suits are expensive! If I feel like I must buy something, it’s only happening after shopping around (like you suggested) and with coupons. No paying full price. I’ll also start looking at second hard stores, as we have some very nice ones in our area. The shoes in those stores are practically brand new, so no reason not to!
Michelle S. says
That’s one thing I love about working from home. I can wear what I want, which means no suits for me! 🙂
Amy says
These are all great ways to save money! We cut cable last month, and we’re saving $70 per month. And, luckily, we actually still get about 70 channels. Shhh… don’t tell the cable company! 🙂
Meal planning every week is one of my 12 goals for 2015. I agree that it’s a great way to save money at the grocery store and on dining out.
I don’t scoff at your heat at all! We keep our heat set in the 65-68 range, never higher than that, and we turn it down to 60 at night. Propane is expensive, and I can’t image what our bills would be like if we kept the heat higher!
Michelle S. says
I’m glad we don’t run on propane. I know someone who pays thousands during the winter months on propane!
Mrs. Frugalwoods says
Love it! All great ideas, Michelle! You know I’m an especial fan of #2 :). And, I think it’s awesome that you have getting outdoors as a tactic as well. That’s always one of our goals too and it’s such a perfect example of how the frugal life is the good life. Good luck and keep us posted!
Michelle S. says
Thanks! 🙂
Taylor Lee says
We plan on saving more this year by cutting down on food spending. Less takeout, more home cooked meals.
Michelle S. says
Good luck!
Holly@ClubThrifty says
Great ways to save! We keep our heat at about 69. Our heat bill was still higher than usual last month because it’s been so cold!
Michelle S. says
Yeah, I’m assuming our next heat bill will be higher. It’s been cold here lately!
Brian says
When we had to replace our HVAC in 2009 we got a hybrid system… It cost a little more upfront but it has totally been worth it since we have had some silly cold winters and gas is more efficient to heat when it is super cold. We keep our house at 68 (used to be 66, but with little kids I had to raise it a bit),
Michelle S. says
Awesome! How much do you spend on heat each month?
Sarah says
Great tips!! We actually keep our heat between 69 and 70, but honestly that’s too cold for me lol. I would much prefer 72-73. We just moved and I’m waiting to get our bill…if it’s $100 or less I am turning it up!! I know to some people it’s a waste of money but I would rather earn a little more money and be comfortable in my house!!! (I will say, I’m from AZ and am NOT used to the cold lol!!)
Michelle S. says
Haha I vary with what I am comfortable with. Sometimes I feel like I am going to sweat to death at 72, and other times I feel like I might freeze to death haha!
Chonce says
These are great ways to save Michelle! My favorites are meal planning, shopping around for the best deal, and limiting how much I spend on clothes. I am having major trouble cutting back on the heating bill this winter. Last week it was in the negatives for several days so I had no choice but to crank up the heat or freeze (literally, it was that cold). So I know my bill is not going to be looking the best this time but it’s a working progress.
Michelle S. says
I hope 2015 is a frugal year for you 🙂
Sharon says
Hi Michelle!
Love this post, great cost saving ideas. Wow, this is the third blog that I’ve read that is cutting cable. I will definitely look into doing the same, however, it is bundled in a package deal with internet and our land line. If we remove the cable part, or even the land line as well, they will raise the price of our internet to almost what we were paying anyway. Seems criminal, if you ask me. BUT, three’s a charm, so I will definitely look into this.
Michelle S. says
Yes, you should look into it! We just waste so much time on cable, so I think we need to do it more for that reason instead of just the money.
Carrie Smith says
The hubs and I are re-evaluating our spending this year too! We cut the cable bill a few years ago, and haven’t missed it since. I also feel like we save boatloads each month because we work from home, so I know you will too. Smart choices in 2015!
Michelle S. says
I hope 2015 is a fun and frugal year for you Carrie 🙂
Melanie @ Dear Debt says
Meal planning and cooking are saving me so much! Also, I’m not drinking or going out to bars in January, so I’m saving money there. I also like to go outside for entertainment.
Michelle S. says
Sounds like January is going to be a cheap month for you. Good job!
Allison says
We cut cable, which was a big saving. We have also been meal planning and that in itself has been a huge money saver!!! Finally, we also started using the auto setting on our thermostat. That way we can start cooling or heating at a lower temp so that way when we get home we don’t have to crank it up. That way during peak hours our house is cooler or warmer and will just be in maintenace mode.
Michelle S. says
Good job Allison!
Jack @ Enwealthen says
All great ways to save.
Two things that we do in the shopping for savings arena are coupons and rebates. We use the ShopSavvy app when in stores to see if we can get a better deal elsewhere or to find coupons for the site we’re in. Online we use rebate sites like Mr. Rebates to get cash back rebates on our online purchase (see comment luv link below if you’re interested in how that works)
This year with the little one we’re saving tons on toys and clothes by joining a local mom’s club to do exchanges and sales.
Michelle S. says
Yes, I always search for coupons, promo codes, and try to always remember to buy things on Ebates. All great ways to save money!
Ben Luthi says
Great list! I probably spend less than $100/year on clothes, so I’m good on that 🙂 Never heard of a digital antenna before, though. Will check it out!
Michelle S. says
Yes, you should!
Jessica says
Great tips! We’ve saved so much money by cutting cable and just using an antenna supplemented by Netflix! I also like to save money by taking my lunch to work (usually leftovers), using the library for books and movies, and making our coffee at home.
Michelle S. says
We need to start going to the library. Haven’t been in forever!
Suburban Finance says
Sounds like great plans for me! Some of them are also my goals too for this year 😉
I’ve been reading blogs about people who travel in luxury using credit card rewards. If you have a good credit score, credit card churning is definitely one way to ‘enjoy’ life more without spending a lot of money besides your regular expenses. It’s a bit overwhelming for me seeing all those different options out there though!
Michelle S. says
I love using credit card rewards. Most of our traveling last year was paid for by that!
Kara @ The Daily Whisk says
Meal planning and tracking our spending is the plan to save money this year!
Michelle S. says
Good luck Kara! 🙂
Michelle S. says
Great job Kathleen!
Jason B says
I’m seriously debating cutting cable. I’m going to work harder on meal prep. I have been unplugging things in my crib for the last 2 years. Its amazing how much money you will save. My electric bill averaged out to about $47 a month. I will take that any day.
Michelle S. says
We should all cut cable! 🙂
Hustle + Save says
Meal planning is a major way to save! We eat out way less and buy less random food when I know exactly what I need to feed us for the week. We have already cut a lot of what there is to cut, but I think the thing that will save us the most this year is finally getting a real budget together. My husband and I have already set a budgeting date tonight. We’ve decided on a 4-6 month strict budget to help us pay off debt quickly and give us an end date for us to reevaluate at. I’m hoping that’ll help us stick to it 🙂
Michelle S. says
A budgeting date sounds awesome. Good luck with your goals!
Kali @ XY Planning Network says
Right there with you on the DIY fix-ups around the house before we sell. We’re going to list our home soon and we’re running around trying to get our to-do list done! Thankfully the hubs is extremely handy. I’d be screwed if I had to figure it out all on my own.
Michelle S. says
Awesome! Do you plan on buying another home soon? Wes is handy, but the things we need done are things we haven’t really done before, such as adding drywall and replacing our garage door.
Brenda says
We eliminated cable last year. We have a digital antenna and I bought a Roku device for the TV that works through the internet. It was $39 for the device and with that I get Hulu, Netflix and several other options that are free.
My home phone is with Magic Jack, it also goes through the internet. It is $32 for the year!
I think most electric companies are offering people to add extra insulation to their homes. We did and it did not cost us anything extra and our bill has dropped.
We mostly eat at home. I have not really got into meal planning as I have a fully stocked pantry and freezer, that way I can just shop sales and/or use the coupons that I have. I do the same thing with other household products. It saves a lot of money but it does take a little while to get to that point.
I just found this blog through pinterest a couple of days ago and subscribed to your newsletter. I have been thinking about starting a blog and read your article on it. Since I am a tax preparer I will have to think more about it later when I have time to (after tax season!) 🙂
Michelle S. says
I am glad you found my blog Brenda! Sounds like you are great at saving money 🙂
Syed says
All great ideas. We keep the heat around 74 ourselves, but we’ve been turning it down at night since we’re all bundled up in our blankets anyway and there’s no need to heat the whole house. Let’s see if it works. Best of luck to both of us!
Michelle S. says
Thanks!
Sarah says
Those are some great ways to save! We meal plan (I do freezer cooking/once a month cooking) which helps a ton. I make all of our laundry detergents and cleaners; bake as much of our breads as possible from scratch; use coupons for everything else. Our big things to help with spending this year is to limit eating out as much as possible and not purchasing any new craft supplies until I have finished all of the (dozens) of unfinished craft projects I have at home.
Michelle S. says
Wow great job Sarah on doing all of these things!
Lisa says
This is a great article; thanks for all of your ideas and encouragement!
This may sound a bit odd, but one way we are saving (in a way) is by getting the house clean, purged, and clutter free. Not only so we can get rid of and sell/donate things (and always being about to have a bag to take to Savers so we get a 20% off coupon to use on clothes), but the mental ‘space’ it frees up is huge for me.
It helps SO much in being able to do the more tangible things that put feet to our money saving. Things like taking time to meal plan, search out deals, read great blogs like yours for ideas and tips, and work on my new business are much, MUCH easier for me to do when the house (and my desk! ha) are clear and I am not distracted by that or feeling guilty for choosing to read an article rather than clean a closet. It also helps in that I know where things are and what I have so I don’t end up buying something I already own. (Easy way to nickel and dime yourself to death, that one!)
Thanks again,
Lisa
Michelle S. says
Sounds like a great way to save. Good job Lisa!
Sam says
My husband and I were just talking about this – it’s so easy to increase your spending when you increase your income! Yuck! So much money we could be saving. I definitely plan on doing a lot of similar things this year to save money. Also, tackling that biggest credit card debt aggressively to get interest down will save us some big time. Thanks for posting, I love reading your tips and your own future plans. xoxo, Sam.
Michelle S. says
Thank you Sam! 🙂
Zambian Lady says
These are very good tips. I am already doing a lot to save money and just need to find a side income this year.
Michelle S. says
Good luck! 🙂
Beth McIntire says
Definitely getting rid of pay TV this year. We keep saying we’re going to do it, but then put it off because of the time involved in packing up all the satellite receivers and other equipment.
Michelle S. says
Yeah, that’s the main thing that’s making me put it off. I’ve also heard that they are very rude when you cancel and may even make you pay outrageous fees.
Jon @ Money Smart Guides says
For us, saving money this year involves being smarter with our grocery spending. We don’t spend all that much, but we have a ton of food in our freezer and pantry, most of which we never eat. We just pile the new stuff on top/in front. We want to make it point to eat everything we buy instead of just the new stuff.
Michelle S. says
That’s how we are. It is something we are trying to change this year!
Holly says
Our heat is at 65 during the day and 55 at night. We use an electric blanket at night and it’s been amazing! My office is upstairs where it’s cooler so I also have a small space heater I use during the day in the winter, as needed.
Gladis says
Some of your ideas are just necessities for us, like bringing food since my kids are on restricted diets. And for us things like the breakfast doesn’t work because of the diets.