To start the new year off right, I thought it would be the perfect time to include one big roundup post of different ways to save money every month and throughout the year.
While you may already be taking part in some of the many ways to save money below, you may find something new that will help you cut back on your spending. Or, perhaps, all you need is a reminder!
Doing one or all of the below may allow you to change your life for the better.
It may allow you to pay off your debt a little more quickly, improve your financial habits, help you reach your dream sooner, and more.
Below are over 30 different ways to save money each month. If you do all of the below, you may be able to save hundreds or thousands of dollars each year. Remember, little savings can add up to be a lot!
Related articles on the different ways to save money:
- How I Made Over $979,000 In 2016 Blogging
- 75+ Ways To Make Extra Money
- How To Live On One Income
- 10 Ways To Make Money Online From The Comfort of Your Home
- Ways To Make An Extra $1,000 A Month
- How To Save Money – My Best Money Saving Tips
Start a blog.
This isn't a way to cut expenses, but there are many ways a blog may be able to help you save more money.
A blog can help you to make more money. I know many people who have started a blog and are making thousands of dollars a month. Plus, it's a lot of fun!
I now earn around $75,000 a month from my blog. I also travel full-time and am happier than ever!
If you are interested in starting a blog of your own, I created a tutorial that will help you start a blog of your own for cheap, starting at only $3.49 per month (this low price is only through my link and for a limited time) for blog hosting. In addition to the low pricing, you will receive a free blog domain (a $15 value) through my Bluehost link if you purchase at least 12 months of blog hosting. I also have a free blogging course you can join too that will help you start and launch a successful blog!
Get rid of cable to save money.
According to NPD Group (a market research company), the average monthly cable bill is around $120. By the year 2020, the average cable bill is expected to be around $200 a month.
You can read more about cutting cable here and how to save money by doing this. I recommend getting a digital antenna so that you can receive local channels for free!
Average savings: $120+ a month
Negotiate your car and home insurance bills.
Many have too much insurance. Yes, I said too much! I know someone who has full coverage with a deductible on a car that is worth $500, I know someone who pays for towing even though their new car comes with free towing, and more.
By shopping around, evaluating whether or not you should change your deductible, changing some of your coverage amounts, understanding insurance terms better, possibly taking a driving class, and more, you may be able to save a significant amount of money on your car insurance bill.
I also recommend simply calling your insurance agent and asking for a discount, many times they will offer a discount that will allow you to save money just for asking!
Many of these same tactics can be applied to your home insurance bill as well.
Average savings: $100+ per year
Sign up for Swagbucks and InboxDollars.
Swagbucks allows me to occasionally earn Amazon gift cards with very little work. Swagbucks is just like using Google to do your online searches, except you get rewarded points for the things you do through their website. Then, when you have enough points, you can redeem them for cash, gift cards, and more. I actually just redeemed over $50 worth of Amazon gift cards through them. Super easy! Plus, you’ll receive a free $5 bonus just for signing up today!
InboxDollars is an online rewards website I recommend. You can earn cash by taking surveys, playing games, shopping online, searching the web, redeeming grocery coupons, and more. Also, by signing up through my link, you will receive $5 for free just for signing up!
Average savings: $10+ a month
Take surveys online.
Okay, so this isn’t really a way to cut back your budget, but you may be able to earn money without doing much. If you sign up for them all, you may be able to earn anywhere from $25-$100+ a month by taking surveys online.
Survey companies I recommend include American Consumer Opinion, Survey Junkie, VIP Voice, Clear Voice Surveys, Product Report Card, Pinecone Research, Opinion Outpost, SaySo4Profit, PanelBucks, PaidSurveys, Prize Rebel, and Harris Poll Online. They’re free to join and free to use! You get paid to answer surveys and to test products. It’s best to sign up for as many as you can as that way you can receive the most surveys and make the most money.
Average amount: $25+ per month
Find a more affordable cell phone plan to save money.
Most people overpay for their cell phone plan.
If you are looking for a cheap cell phone service, check out Republic Wireless. They have monthly cell phone plans as low as $15 per month. Read Saving Over $2,000 A Year With Republic Wireless Review for more information.
Average savings: $50+ a month
Eat out one less time each month.
How many times do you eat out each month? How much do you think you spend each month at restaurants? Most people are surprised when they actually sit down and track how much they've spent!
Eating out just one less time won't kill you, plus it will help you save a nice chunk of change over a one-year period.
Average savings: $25+ a month
Have fun for free.
Recently, someone was telling me about how expensive it was to have fun. They were telling me about all of their debt and everything that goes along with it, and then they also told me that their “fun” budget each month was around $500.
Uhhh what?! $500? A month?!
If you are trying to get rid of high-interest rate debt, I can't think of any reason for why you should be paying $500 a month to have fun.
There are many ways to have fun for cheap and save money. Check out How To Have Frugal Fun for some of my ideas.
Average savings: $50+
Use Ebates when shopping for cash back.
Sign up for a website like Ebates where you can earn CASH BACK for just spending like how you normally would online. The service is free too! Plus, when you sign up through my link, you also receive a free $10 gift card bonus to Macys, Walmart, Target, or Kohls!
Average savings: $5 a month
Stop smoking.
According to Statistic Brain, the average person spends around $34 a month on tobacco products. That is a lot of money for a very unhealthy habit.
My father passed away partly due to his smoking habit (he had brain and lung cancer) when I was just 18. If that's not enough to tell you that it's a horrible habit, I don't know what will!
Average savings: $34 a month
Increase your savings by canceling your gym membership.
There's a gym in my town that's quite small yet charges $200 a month. I have never once seen a soul in there so I'm not sure what's going on. However, they are open so someone must be paying it.
There are so many ways to get a great workout both inside and outside your home. While occasionally there are positives for paying for a gym membership for some people, the majority with a gym membership do not get their money’s worth.
Average savings: $25-$200+ a month
Receive a sign-up bonus from a credit card.
Now, this one should only be used by someone who knows how to take advantage of credit cards. Please skip this section if you are not good with credit cards!
In 2015, I earned over $4,000 by churning credit cards for their rewards. This may not be realistic for every person out there, but I’m sure churning just one card is something that some may be able to do.
Related: How To Take A 10 Day Trip To Hawaii For $22.40 – Flights & Accommodations Included
Average savings: $500+ a year
Purchase a water filter to save money on water.
According to The Water Project, the average person in the U.S. spends around $100 per year on bottled water.
Instead of spending $100 on bottled water each year, you can drink the water from your own home. You can even buy a water filter if you want to.
Note: Yes, I realize there are some towns out there where the water is not clean and that water needs to be bought, but that is not the average person.
Average savings: $100 per year
Start using Digit.
With the Digit savings app, you link up your bank account to Digit and every few days Digit looks at your income and spending habits to see how much you could possibly save. Digit then automatically moves money from your checking account to a Digit savings account.
Each transfer averages around $18, but it could be higher or lower depending on your individual situation. You can read my Digit review here for more information.
Average savings: $18
Meal plan to save money.
Meal planning is something that has completely changed our lives. We eat healthier than ever, we are saving money, and we have less food waste.
That's saying a lot considering that the average person wastes over 40% of the food they buy. Yes, 40%!
If you have trouble eating at home, then try out $5 Meal Plan. They send meal plans directly to your email.
It’s only $5 a month (the first two weeks are free) and you get meal plans sent straight to you along with the exact shopping list you need in order to create the meals. Each meal costs around $2 per person or less. This allows you to save time because you won’t have to meal plan anymore, and it will save you money as well! If you are interested in joining for free, click here.
Average savings: $100+ a month
Drive a more affordable car.
According to Edmunds.com, the average person in the U.S. spends $483 on a new car payment and $361 on a used car payment.
Yes, I was just as shocked when I read that statistic!
This is sad especially considering that many take out high-interest loans in order to pay for their car as well. Back when my husband worked in new car sales, he often told me about new car buyers who had car loans at interest rates of 20% and above.
While $479 a month may be affordable to some, I'm going to assume that it's a lot of money for most people. Plus, once you add in gas, maintenance, insurance, taxes, registration costs, and more, the number is going to be much larger.
I think everyone should buy a car that they can actually afford. I am a big believer that your car expenses should be less than 10-15% of your monthly income in order for it to be affordable.
Refinance your student loans and save money.
I highly recommend Credible for student loan refinancing (they are the top student loan refinancing company and have great customer service!) so that you can save money. You can lower the interest rate on your student loans significantly by using Credible which may help you shave thousands off your student loan bill over time. Through Credible, you may be able to refinance your student loans to a rate as low as 2.13%!
Plus, it’s free to apply.
Related: Consolidating And Refinancing Student Loans – What You Should Know.
Miscellaneous ways to save money.
There are many other ways to save money as well. Below is a quick list:
- Bring your lunch to work.
- Make meals in bulk for the days you don't feel like cooking.
- Always pay your credit card bill in full each month.
- Take public transportation, walk, or ride your bike more.
- Stop buying soda and drink more water.
- Give yourself 24 hours or longer to think about a big purchase before pulling the trigger.
- If you're a student, use your student ID discount whenever you can.
- Switch to free banking if you're paying for bank services.
- Switch to generic if you can. Always make sure that it's actually cheaper, though! In some cases, it's not.
- Don't pay ATM fees.
- Use cold water when washing your laundry when you can.
- Start/maintain a garden.
- Plan out when you will pump gas and where. We are always traveling in our RV and have noticed wide differences in gas prices. One time we were lazy and thought that we didn't have a choice because we were in the middle of no where and a sign said there wasn't gas for another 50 miles. We pumped gas for around $4 and got back on the highway. The very next exit had gas at $2.50. I couldn't believe it.
- Use Uber for your next taxi and receive your first ride for free.
- Visit the library for free books, movies, and more.
- Rent things around your home that you are not using, such as a spare bedroom or garage space.
- Always have a list before you go to the store. This can prevent waste, unneeded items, and more.
- Use a programmable thermostat so that you can heat and cool your home efficiently and more affordably.
- Keep your car well maintained. This can prevent expensive surprises in the future. Plus, it can keep you safe too! Things such as bad tires can put your life and others at risk.
- Skip stores, the mall, window shopping and more so that you don't buy items you don't need.
- Lower your utility bills. Find ways to use less water, less electricity, and more.
How are you going to save money this year? Please leave a comment so that this list becomes bigger!
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Found your list of miscellaneous ways to save money very helpful. I plan on using Uber next weekend for the first time and was unaware that they offer free first rides! Also, using cold water for laundry and planning out when and where to pump gas are great ideas. Thanks!
My tips:
1. Switch to cheaper brands on consumable products (toiletries, cooking ingredients, etc)
2. Cancel gym membership: Do you really need to have a ripped body? If no, a balanced diet and jogging everyday is enough to keep you healthy.
3. Cancel cable subscription: Everything is on the internet. Watch your favorite shows using the internet. Live stream live events.
4. Dont overspend on car insurance. You probably are without knowing it. I switched to Insurance Panda and I only pay 25/month.
5. Brew your own coffee or just drink instant coffee.
6. If possible (depending on where you live), sell or lessen using your car: Use public transportation or ride a bicycle to go to work/home.
7. Cancel phone plan and just use pre-paid.
Thanks! Helpful tips! Insurance Panda? Never heard of it. Checking it out tonight!
Another one that I think is overlooked is buying some things used. It’s amazing how many times we just hop online or head to the store when we need something, instead of considering whether we can find it less expensively elsewhere.
For example – we recently realized we needed doggy stairs to help our aging pups get up on our bed. I hadn’t made it a priority yet, when we were driving past a garage sale and noticed a brand-new set of pet stairs that matched our decor. I hopped out of the car assuming they’d be asking $20-$30 (a new set from PetSmart is around $75). The lady having the garage sale wanted $3! It was a perfect solution to our problem, and prevented us from totally unnecessary spending on a brand-new set of pet stairs. This set was ridiculously inexpensive, but they can be found regularly on Craigslist for $15 to $20 – which is still 2/3ds less expensive than a new set!
I’m in the UK, my daughter and I check out restaurants and hotels, we pay the bills and write a report. We are then refunded the whole cost. We eat out once or twice a week for nothing, and we have occasional hotel stays, it’s great fun!
Id love to know who you do this for please. I’m in UK too.
Awesome post! It’s never a bad time to save more money!
I stumbled on your site by accident, and I’m really glad I did! I feel it’s never to late to learn something new, and I like to save money! I’d like to give the online surveys a try. I am on Social Security and receive a public employees pension monthly. While my house and car are paid for, I still have the monthly phone, cable, and internet bundle which is a savings over paying for them singly. I pay for my utilities on a budget plan, which means I pay the same amount all year. All my bills are paid through direct deposit. I pay $2.31 for a gallon of gas.I belong to AARP and use their insurance. Since I am alone and I hate to cook, I cook a big meal once a week and eat that all week, supplementing with frozen meals and fresh fruits and veggies. My entertainment is a $5.00 movie once a week with free popcorn!. Eating out is almost nonexistent. I’m able to put $250. a month into my savings, more if I budget well. I’m a crafter and junker, so I make enough during craft show and flea market season to pay for all my Christmas buying. I buy my shoes and underwear new, the rest is thrift shop and St. Vinny’s clothing. I live quite comfortably and can still travel every other summer.to see family.
There are so many ways to save money! Thanks for the article. Just gotta start and do it!
It’s hard to believe any of it when I see the smoking that you have up there $34 a month carton of cigarettes $50 $60 and most people that smoke buy that Weekly
Agreed! I live in Ky., and if you smoke a decent brand, most cigarettes go for around $5/pack. For a person who smokes a pack a day on average, that’s a whopping $150 a month. (Thankfully I am a FORMER smoker who quit before the prices increased!)
I cut my cable in August 2016 and kept the internet. I SAVE $110.00/month. I keep monthly expenses low by using power strips and turning them off when not in use. I keep my thermostat on 68 in winter and 79 in summer. I budget every month and plan for heat waves and cold snaps as best as I can by saving money when it’s mild outside. I only heat the parts of my house where we sleep, at night I close the vents in my downstairs den and close shut the door. IT WORKS! We’re toasty warm right now while it’s 22 degrees outside. My December heating gas bill was $80. My electricity was $95. I take my lunch to work and make coffee at home. I do use coupons and store reward cards/apps as much as possible. Saving money becomes a good habit the more you do it.
It was worth reading the article. In particular, the idea to have fun for free would be really worth trying. We easily spent $500 every month to have fun. The article on how to have frigan fun is also very interesting. I’ll be passing this along. Thanks!
Thanks!
To take years off my mortgage I arranged to split the monthly payment. I pay the exact same amount. The bank drafts half the amount then, 2 weeks later, the bank drafts the remaining balance due. I’m never late with my payment. The bonus? An extra $35 is applied to the principle of the loan. The bank will never suggest this method of paying off your loan. Good luck!
I love this tip! Another thing to remember is to pay 20% down when buying a home so you can avoid PMI.
A big list of money saving ideas you have shared. Thanks for it.
Cancelling the gym membership is definitely a great idea to do so because you can easily perform workout activities and exercise in your backyard to stay fit without spending a lot of bucks.
I loved this article. I recently tried this and wrote a similar article on my blog fibythirty.com. I called my savings game the 2,620 challenge – Running a financial marathon. One interesting way I found to make some extra money was using a website called missingmoney.com that helps you to find lost checks in the mail that are owed to you. I found a missing state tax return from 3 years ago that was over 200 dollars!