Here Are 50+ Of The Best Ways to Save Money In 2024

How much money do you save each month? Would you like to learn about the best ways to save money? If you’re looking for some of the best ways to save money in the new year, then this post is exactly what you need to start saving even more money. There are tons of ways…

Michelle Schroeder-Gardner

Last Updated: April 27, 2024

Disclosure: This post may contain affiliate links, meaning if you decide to make a purchase via my links, I may earn a commission at no additional cost to you. See my disclosure for more info.

How much money do you save each month? Would you like to learn about the best ways to save money?

If you’re looking for some of the best ways to save money in the new year, then this post is exactly what you need to start saving even more money. There are tons of ways to save money, and you are going to learn about over 50 different ideas.

Teaching people about the best ways to save money is one of my most favorite things to talk about because I have firsthand experience with how it can help you reach your goals.

When I was working towards paying off my student loan debt, I used many of these tips. And, that’s what helped me pay off nearly $40,000 in student loans before I was 25. 

There are lots of reasons for why you might be looking for the best ways to save money. You may want to:

  • Stop living paycheck to paycheck
  • Pay off your debt
  • Go down to one income
  • Save for a vacation
  • Put more in your emergency fund
  • Start investing more

Or, maybe it’s as simple as wanting to stretch your income so you have a little more flexibility in your budget.

No matter what your reason is, this post is full of the best ways to save money. There are probably some ideas you’re already trying, but there are going to be others you never realized were possible.

Now, I am the first to admit that finding new ways to save money can be hard. You may feel like you’ve already tried everything, that you’re already being as frugal as possible, or that saving money is boring – I have heard this one over and over again. 

But, if you want to start living the life that you have always wanted to live, you have to get yourself in the right mindset. When it gets hard, remind yourself of your goals and dreams. And, remember you’re going to get there so much faster when you learn about the best ways to save money.

I believe that finding good ways to save money can completely change your life. I honestly can’t imagine what my life would be like if I wouldn’t have tried many of the tips I’m about to share with you. I might be still stuck at a job I didn’t love, not traveling, and not running a business I love.

Start with just one of these ideas and see what a difference it makes. Even just saving an extra dollar or two here and there is a start to a better and more stress free financial life.

Related articles with more money saving tips:

Here are over 50 of the best ways to save money:


Look for an extreme way to save money.

I’m sure we’ve all done some super embarrassing things to save money. I know that I have, haha!

I recommend reading 60+ Extreme Things People Have Done To Save Money to see some of the most interesting and best ways to save money used by personal finance experts. That list also includes some of the extreme saving tips my readers have told me about.

These include extreme money saving tips such as:

  • Shaving your head. This is a great way for men (and women!) to simplify hair care and cut down on the cost of it.
  • Cut your own hair. Hair cuts are extremely expensive, especially if you get your hair colored too. Instead of spending money at the salon, Wes now cuts my hair, and he does a great job!
  • Fill your name brand cereal box with an off brand. If your family says they “need” brand name cereal, then this is one of the best ways to save money. Plus, I bet they will never know!
  • Dumpster dive for free food. This is super extreme, but there are a lot of people out there who save money on food this way. You might be surprised by how much food restaurants and grocery stores throw away.
  • Move your whole family into your parent’s basement (or house). Owning or renting a house can be extremely expensive, but I know many people who live with family while they are paying off their debt.
  • Make your own toilet paper. By cutting up things like old t-shirts, you can make your own toilet paper. This may sound like the most extreme of these frugal living tips, but it will help you save money.
  • Freeze water bottles instead of using the AC. Not only will this help you save money on cooling costs, it’s good for the environment.


Bring your lunch to work.

Does bringing your lunch to work actually save you money?

I read an interesting statistic that said Americans, on average, spend around $3,000 a year on lunches. That is a mix of eating out and eating in when at work.

That is a lot of money. And, if you’re not careful and aware of your spending, this is an area that can creep up on you and lead to something disastrous, such as credit card debt.

That’s the thing about buying lunch at work – it’s a small purchase that doesn’t seem like it would add up to much.

But, bringing lunch to work is one of the best ways to save money on a tight budget and has the potential to save the average person at least $100 a month. To take part in this money saving tip, you can start by looking at these tasty budget lunch ideas.

Another easy way to start bringing your lunch to work is by making an extra serving or two at dinner and packing the leftovers away for lunches.


50+ Of The Best Ways to Save Money In 2023

Open a high yield savings account.

High yield savings accounts are one of the realistic ways to save money because you earn money on what you save, but most people have their money in accounts with low rates. Unfortunately, that means many of you are losing out on some easy cash!

If you’re like most people, you probably don’t even know what interest rate you’re getting on your checking and savings accounts. You were probably told the percentage when you opened your account, but that could have been years ago.

If you’re looking for a free checking account, as well as a higher than average interest rate on your savings account, look no further!

With Betterment Everyday, you can start earning 1.85% with a balance as low as $0.01.

How does that compare to the national average savings rate? It’s a very sad 0.09%. That is a HUGE difference from what Betterment Everyday is offering. If you are only getting 0.09%, then you are losing out on easy, passive money.

Savings accounts at brick and mortar banks are known for having really low interest rates. That’s because they have a much higher overhead – paying for the building, paying the tellers, etc. Betterment Everyday is an online option, which means they have lower costs, then passing the savings on to you.

Over a 10 year period, the same savings balance with a 1.85% balance would earn you an additional $1,850, whereas a savings account with an interest rate of only 0.09% would earn you a mere $90.

To get started and open a Betterment Everyday account:

  1. Signing up is super easy. Simply click here and sign up.
  2. If you join the waitlist for Betterment Everyday Checking, they will boost your Betterment Everyday Savings Account rate to 1.85%.

See, super easy!

Read more at How To Earn Over 20x The National Savings Rate.


Stop paying for cable TV.

The average monthly cable bill is over $100, and it is expected to climb to around $200 in 2020.

If you are looking for some of the best ways to save money each month, no longer paying for cable is one of the easiest ideas. And, there are so many low cost alternatives to cable!

Here’s what some services are currently charging per month:

  • Netflix $7.99 to $13.99
  • Hulu – $7.99 to $39.99
  • Sling TV – $20 to $40
  • Amazon Prime Video – $8.99 (requires an Amazon Prime subscription, which is $119 per year)
  • HBO Now – $14.99
  • YouTube TV $40+

You can read more about this at 16 Alternatives To Cable TV That WILL Save You Money.

We don’t pay for any form of TV, not even Netflix! This isn’t just one of the best ways to save money, it’s helping us simplify and enjoy life even more.


Find ways to live more simply.

Trying to manage your life, especially your financial life, can be difficult in today’s age. Between planning for retirement, paying bills, raising a family, etc. life can be exhausting. And, we all have a lot of clutter in our life – not just physical, mental clutter as well!

By living a minimalist lifestyle, you can learn how to be happier, be in more control of your life, waste less of your valuable time, and more. All of this will allow you to enjoy life even more!

Simplifying your life is one of the best ways to save money and can include:

  • Learning to be more organized.
  • Paying off your debt.
  • Spending less time on social media.
  • Paying expenses annually or semiannually.
  • Decluttering and maybe even downsizing.
  • Having less clothing options.
  • Automating your payments.

Learn more at Are You Making Your Life Difficult? 18 Ideas To Simplify Your Life.


Start investing.

This may not seem like the most obvious option because investing means you will have to put some of your money out there to start earning more and saving. But, investing now will help you become prepared for retirement, and it may even help you retire early.

Investing is easier and easier these days, and you can start investing with very little money. This is one of the best ways to save money for your future, and I definitely recommend that you get started sooner than later.


Think before you make a big purchase.

This may sound like one of the simpler money saving tips I’ll mention, but it can be difficult for some. Really, we have all felt regret after making a large purchase when we realize that we have made a huge mistake. You may be mad at yourself for wasting money, you may realize it will add to your debt, and more.

Perhaps you don’t realize for months or years later, but you eventually understand what a waste of money the item was.

Before you make your next large purchase, you should ask yourself several questions to make sure that it is actually worthwhile. The questions include:

  • Can I afford it?
  • What else is the item going to cost?
  • What else could I spend this amount of money on?
  • Can I wait 24 hours to make the purchase?
  • Can I borrow the item from someone instead of buying it?
  • Is there a return policy?
  • Do I actually need this?

This is one of the best ways to save money that will help you for years to come, especially after you get in the habit of asking yourself those questions. You can read more at 11 Things To Ask For A Regret Free Spending Decision.


Get your credit score for free.

Some companies will charge you for your credit score, and some people even pay for this on a monthly basis. The truth, though, is that you can receive your credit score for free a few times a year.

It never hurts to check your credit score, and you have no reason to be unaware of it.

Your credit score can affect whether or not you are approved for a loan, whether you are hired at certain jobs, your interest rate, and more. It’s relatively easy to raise your credit score, which makes it one of the best ways to save money. 

If you don’t know your credit score, you can use Credit Sesame to check your credit score for free, and there is absolutely no need to reason to pay for your credit score. Plus, checking your score is the first step to improving your credit score

You can also receive one free annual credit report from the three main credit bureaus (Equifax, TransUnion, and Experian). Yes, this means that you get one from EACH, so three per year. I recommend spacing them out so you get one every four months. You can read more about this here.


Go on almost free vacations just by using your credit card.

One of my personal best ways to save money is to get bonus points and cash back on my credit card purchases.

In 2018, me and my husband earned over $5,000 just by using our credit cards like we normally would. We put all of our expenses on our credit cards, completely pay them off each month, and earn free rewards points and cash back.

Plus, did you know that you can take a 10 day trip to Hawaii for just $22.40?

Yes, it’s possible! For more information on this vacation money saving tip, I recommend reading How To Take A 10 Day Trip To Hawaii For $22.40 – Flights & Accommodations Included.

To make this one of the best ways to save money, you will need to be good with credit cards. If you aren’t, then there are plenty of other money saving tips to take part in.


Sign up for birthday freebies.

Everyone has a birthday, and you may be able to score a lot of free birthday stuff by simply showing your date of birth date on your driver’s license or by signing up for a company’s email club to receive a coupon for your birthday.

Here are 31 Birthday Freebies You Should Sign Up For.


Plan your meals better.

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.

But, did you know that the average person wastes over 40% of the food they buy? Yes, 40%!

If you have trouble eating at home, then try the $5 Meal Plan. It’s only $5 a month, and you get meal plans emailed directly to you along with the exact shopping list you need in order to create the meals. 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.

Learn more about weekly meal planning at The Power of Weekly Meal Planning.


Stop overpaying for your cell phone.

Cell phone bills can easily cost over $100 per month, and if you have a family, then you may be paying a few hundred dollars per month.

Once you find a provider you like, it can be hard to switch. But, once you know how much you can save with another company while still having great service, this is obviously one of the best ways to save money.

If you are looking for a more affordable cell phone plan, then check out Republic Wireless. They have monthly cell phone plans for as low as $15 per month.

I have several family members who are now using Republic Wireless, and they love it!

Please read Saving Over $2,000 A Year With Republic Wireless Review for more information.


Get rid of your timeshare.

Every once in a while I get a question from a reader about how to get rid of a timeshare. Sometimes the person is asking for themselves, but other times, they are trying to help a friend or family member.

The problem is that timeshares aren’t as amazing as the salespeople claim they are. They are expensive, you probably won’t use them as much as you think, timeshare resale values are incredibly low (making them hard to sell), and more.

Many adults have attended a timeshare presentation, and even more have been asked to attend one. You are usually offered something if you stay the whole time, such as a free vacation, an iPad, a cruise, or something else that is quite enticing. And, that’s how they get you interested.

All you have to do is listen to the presentation and get your free gift. Sounds simple enough, right? 

And, after sitting through the timeshare presentation and listening to the salesperson talk about all the “benefits” of owning a timeshare, you may be intrigued. It’s not surprising that many people think that getting a timeshare is one of the best ways to save money on vacations.

Even though you told yourself that you weren’t going to purchase anything, the salesperson is well-trained, and you can’t resist something that seems like such a good deal.

But, timeshares are expensive because:

  • They have annual maintenance fees.
  • You may not actually use them as often as you thought you would.
  • They are near impossible to sell (you may have difficulty selling them for just a $1 even).
  • There are plenty of ways to vacation for a more affordable price.

Please read more at How To Get Rid Of A Timeshare.


Stop smoking (possibly the best way to save money that will also save your life).

According to the American Lung Association, tobacco kills nearly 500,000 people in the U.S. each year and costs the U.S. $333 billion per year in healthcare expenses.

Smoking cigarettes can lead to many harmful side effects, such as lung cancer, heart disease, and many other medical problems.

I know and understand this problem because my father (who I was extremely close to) passed away from lung and brain cancer in 2008. He was an extremely healthy man, except for his serious smoking problem. We tried for a very long time to get him to stop, and it’s something I will always regret not trying harder.

Due to this, I have never smoked a cigarette in my life, and I never will. There are just too many harmful effects of smoking.

Not only is it extremely unhealthy, it is also quite expensive. According to Business Insider, cigarettes can cost around $5 in states such as Kentucky, and they may cost as much as $15 in New York. If you smoke a pack a day, that can be as much as $450 a month.

Another interesting statistic: According to GlassDoor, smokers earn an average of 20% less than non-smokers.


Create a budget.

Budgets help people manage their money better. It’s that simple.

Budgets are great and one of the best ways to save money because they keep you mindful of your income and expenses. With a budget, you will know exactly how much you can spend in a category each month, how much you have to work with, what spending areas need to be evaluated, among other things.

You can download a free budget printable here.

Budgets have helped people reach their goals, pay off debt, make more money, retire, and more. This is one of the best ways to save money that will completely change your financial life.

Learn more at The Complete Budgeting Guide: How To Create A Budget That Works.


Search for work from home jobs.

With the kind of technology we have in today’s world, there are more and more online jobs that make it easier than ever to work from home. And, this trend is expected to continue well into the future.

I now work from home and learning to do so has allowed me to travel full-time, which I love! 

Some work from home jobs involve working for someone else, or you may be able to even start your own business.

And, yes, you can earn a full-time income from home while working from home.

So, if you are looking to start making more money, or if you want a new career path that lets you earn money from home, here are some ideas:

  • Sell on Amazon. Jessica Larrew, of The Selling Family, explains how to start selling on Amazon. She is a friend of mine, and I am blown away by her success! In the first year that Jessica’s family ran their Amazon FBA business together, working less than 20 hours a week total, they made over $100,000 profit! If you want to learn more about starting an Amazon business, I recommend signing up for this free training that will teach you how to sell products on Amazon and make $100 to $500 per day.
  • Start a blog. I created Making Sense of Cents almost seven years ago, and since then, I have earned over $4,000,000 with my blog and around $1,500,000 in 2018 alone. Blogging has changed my life for the better, and it allows me to earn thousands of dollars a month, all by doing something that I love. You can take my free How To Start a Blog course here.
  • Teach English to earn money from home. Learning how to teach English online has become extremely popular, making it one of the best online jobs for many good reasons – it’s flexible, there’s a high need, and it pays pretty well. The amount of money you can earn teaching English online will vary, but it’s typically around $14 to $22 per hour. If you’re interested, I recommend VIPKID and Education First.
  • Become a virtual assistant to earn money online. Virtual assistant tasks may include social media management, formatting and editing content, scheduling appointments or travel, email management, and more. Basically, you can get paid to do any task that needs to be done in someone’s business, but doesn’t need to be done by them. Learn more at Make Money Online as a Virtual Assistant.
  • Pick up trash. Brian makes a living (it’s a $650,000+ per year business for him) by picking up trash. If you’re looking to make some extra money, then this may be a side hustle option for you to look into. Learn more at Get Paid $30 – $50 Per Hour To Pick Up Trash.

Learn more at 12 Work From Home Jobs That Can Earn You $1,000+ Each Month.


Find ways to make passive income.

Passive income is when you are able to make an income while doing very little work to maintain that income source.

Building passive income is something that I’ve been working on for the past several years. See, I want to continue to bring in an income while being able to focus on other goals of mine, like more hiking or biking (which will most likely never generate income). I also want to diversify my income so that I’m not too reliant on one source.

For me, finding passive income ideas is great because I can focus more on life instead of business, and I can do it while continuing to earn a great income.

Now, you need to do something in the beginning to start earning passive income. That work can be either a time or financial investment. But, after most of the leg work is done, income continually comes in without much effort from you. This makes it one of the best ways to save money for years to come.

There might be a little maintenance here and there after you set up your passive income source, but overall the passive income stream should continue to operate on its own.

Various passive income ideas include:

  • Affiliate marketing
  • High yield savings accounts
  • Rental real estate
  • Rent out a room in your home
  • Dividends
  • Blogging
  • Writing a book
  • Starting an online store
  • Creating an online course
  • Shopping at cashback websites
  • Earning credit card rewards
  • Paying off your debt

Please read 12 Passive Income Ideas That Will Let You Enjoy Life More to learn more.


Drive a more affordable car.

According to, the average person in the U.S. spends $483 on a new car payment and $361 on a used car payment.

This is sad when you consider that many people also take out high-interest loans in order to pay for their car. 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 $483 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, that number is going to be much higher.

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.

Remembering that there are alternatives to taking out high-interest rate car loans on expensive new cars is one of the best ways to save money. 


Make saving money fun.

One of the creative ways to save money is to start making it fun. This is one thing I realized when I was in the middle of paying off nearly $40,000 in student loans.

So many people get tired of paying off debt and saving money because it can feel so monotonous or they just lack the motivation.

This is why I believe one of the best ways to save money is to learn how to make saving money fun. This can help keep you motivated and interested in saving money.

Here are some fun money saving tips:

  • Take part in the $20 Savings Challenge and easily save over $1,000.
  • Create a challenge between you and someone else. You can turn it into a fun challenge between your friends, family members, or coworkers.
  • Create a graphic that demonstrates your financial goal. An example of this would work for something like paying off your house. You could have a picture of a house and section it into 100 pieces. Each time you reach a small payoff goal, you can color a piece.
  • Make an inspiration board for what saving money and/or paying off debt means to you. You can have images of amazing places you want to visit, ideas about retirement, and more.
  • Find ways to have frugal fun.

Learn more at How To Make Saving Money Fun.


Use a programmable thermostat.

One of the best money saving tips that will also help the environment is to invest in a programmable thermostat. They have become more affordable, and you will most likely make your money back within a year or maybe even just a few months.

With a programmable thermostat, you can set the temperature at exactly what you want it to be for different times of the day. And, because it automatically changes on a schedule, you won’t have to constantly worry about it.

For example, your AC will automatically turn up when you leave for work so that you don’t waste electricity or money heating or cooling an empty house. You can also program it for while you are sleeping, for the weekend, when you are on vacation, and so on.

I did a quick online search and was able to find plenty of programmable thermostats for less than $50, so well worth the small investment.


Pay off your debt quickly.

By paying off your debt quickly, you may be able to pay less in interest fees and free up your money to save for other financial goals, such as retirement.

If you’re looking for motivation, here are some great debt payoff stories:


Go to a restaurant just one less time each month.

How many times per month do you eat out? 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.

A family of four can easily spend over $50 for dinner out, and if you do that multiple times per week, that’s hundreds of dollars that you could potentially save.

Eating out just one less time each month is one of the best ways to save money because it will help you save a nice chunk of change over a one-year period.


Get rid of (some of) your subscription services.

Subscription services are a lot of fun, and they make it really easy to get just what you want delivered straight to you. And, there are subscription services for all sorts of things, like meal deliveries, clothes, streaming services, and more. 

The problem, however, is that when you subscribe to too many services, you may find that you are spending way too much money.

To cut your subscription services, start by evaluating which ones are actually useful, and then cut out the ones you no longer want or that cost you too much money. Cutting out the services you no longer want or need is one of the fastest ways to save money.


Find ways to save on your grocery spending.

Learning how to save money on food and groceries doesn’t have to be difficult.

You can save money on groceries by:

  • Planning your grocery trips better.
  • Use this cell phone app for cash back on your groceries.
  • Start meal planning.
  • Always shop with a grocery list.
  • See if there are any sales for the items you are already buying.
  • Use coupons when grocery shopping.
  • Don’t grocery shop when you’re hungry.
  • Skip the pre-made and pre-cut items.
  • Sign up for a grocery store’s loyalty card.

With these tips, saving money at the grocery store is one of the best ways to save money that you might not realize. 


Refinance your student loan debt.

I highly recommend Credible for student loan refinancing so that you can save money on your student loan payments. You can significantly lower the interest rate on your student loans with Credible, which may then 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 3.35%!

Plus, it’s free to apply.

This is one of the best ways to save money while paying off your debt!

Learn more at Credible Review – Refinance Your Student Loans And Save An Average Of $18,668.


Cancel your gym membership.

Gym memberships can be costly if you’re not using them. If you’re not getting the full value out of your gym membership, then you should cancel it ASAP. This is one of the best ways to save money because it’s an expense you can completely eliminate.

While it’s beneficial for some to pay for a gym membership, the majority of people do not get their money’s worth out of a gym membership.

There are so many ways to get a good work out in that don’t require a gym membership. You can go for a bike ride, a hike, a long walk, and more. This is one of the best ways to save money that also lets you get outdoors and explore the world around you.


Ride your bike when doing your errands.

When we started sailing, we needed to find a way to get around when not sailing, and riding our bikes has been the best way to do so. We ride our bikes to the grocery store, to the post office, when going out to eat, and more. Yes, sometimes it is hot (we often ride when it’s 100 degrees outside or raining), but it’s a great workout and super eco-friendly.

If you have errands to run that are close by, riding your bike is one of the best ways to save money while letting you get a great work out in. And even though it might be hot where you live, I always think that being out in the sun feels so good and motivates me throughout the rest of my day.

To make running errands easier, you can attach a basket to your bike or purchase a saddle bag. While you may not be able to carry much, you’ll be much more mindful of what you buy, while saving money on transportation.

Remember though, always bring a bike lock so that your bike is safe! And, of course, wear a helmet and use any other safety precautions that you deem necessary.


Get cash back on your purchases.

Sign up for a website like Ebates where you can earn CASH BACK by spending how you normally would online. Stores you can use Ebates at include Walmart, Target, Macy’s, Amazon, Kohls, and more. This is another one of the best ways to save money because you’re probably already shopping at one of their partner stores.

The service is free too! Plus, when you sign up through my link and make your first purchase, you will also receive a free $10 cash back.


Have more meatless meals.

While I think this is one of the best ways to save money, I realize it might not be for everyone. However, cutting just some meat out of your diet can save you a ton of money.

Now, you don’t have to go completely vegetarian or vegan, but you can do something like a Meatless Monday or try having meat with just one meal a day. Not only will cutting meat out of your diet save you money, there are some studies that suggest it’s good for your health and the environment.


Figure out if you actually need your storage unit.

Nearly 10% of households rent a self-storage unit. However, many people don’t really have a use for them – it’s just unwanted stuff that people forget about and don’t want to deal with, so they continue to pay for their storage unit.

Instead, you should think about getting rid of your storage unit as one of the best ways to save money.


Learn more from personal finance books.

If you want to change your life, then I recommend that you start reading personal finance books. Yes, money is not everything, but improving your financial situation is one of the best ways to save money that can help you gain control of your life.

Personal finance books I recommend include:

You can find the whole list of personal finance books I recommend here.


Get paid to complete online surveys.

One of the easiest and best ways to save money is to take paid online surveys. Taking online surveys isn’t really a way to cut back your budget, and you won’t get rich doing so. But, you may be able to earn money without doing much work, and the money you make can easily be put into savings. 

I used to take online surveys pretty often, and it’s one of the tips that helped me pay off my student loans, so I definitely recommend giving it a try.

If you sign up for all of the companies I list below, you may be able to earn anywhere from $25 to $100+ a month by just taking surveys online.

The survey companies I recommend signing up for include:

  1. American Consumer Opinion
  2. Survey Junkie
  3. Swagbucks
  4. InboxDollars
  5. Opinion Outpost
  6. OneOpinion
  7. Pinecone Research
  8. Prize Rebel
  9. Survey Club

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.


Negotiate your car and home insurance bills.

Insurance is a necessary expense, but you may be paying for extras that are a waste of money. Or, you may be wasting money by not shopping around for better plans and lower prices.

The average person pays too much for various forms of insurance. It’s actually quite possible that you are currently paying too much for car insurance, so do something about it today! 

I know someone who has full coverage car insurance 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 there are even more situations like this.

A lot of this is because the average person doesn’t fully understand how insurance works. However, it’s something that you’ll definitely want to learn about because it is one of the best ways to save money well into the future! 

Stop wasting money on insurance by:

  • Shopping around at different companies to see what other offers are out there.
  • Evaluating whether or not you should change your deductible.
  • Changing some of your coverage amounts.
  • Understanding insurance terms better.
  • Possibly taking a driving class.

I also recommend simply calling your insurance agent and asking for a discount, as many times they will offer a discount that will allow you to save money just for asking! This is one of the best ways to save money because calling your insurance company only takes a few minutes ad can save you hundreds of dollars over the course of the year.


Use Airbnb for your next vacation.

Ever since I first tried Airbnb (that link will give you a $40+ Airbnb coupon code for your next stay), they have been my favorite way to travel. Airbnb offers short-term rental vacation homes in nearly every part of the world and for nearly every budget.

Airbnb vacation home rates are usually comparable or cheaper than a hotel, plus you typically have more room. They will often come with a kitchen too, and that can help you save money on going out to eat while you are on vacation. Also, if you have a lot of people going on vacation with you, you can split a house for much less than it would cost for everyone to get a hotel room.

Airbnb is my favorite way to travel, and we hardly ever stay in hotels anymore. This is also one of the best ways to save money for us because we are able to find Airbnbs that allow us to bring our dogs too, meaning they’re more comfortable as well. No dog has ever complained about having a backyard to run around in!


Save money on your next vacation.

If you want to get out of town for vacation instead of doing a staycation, there are still plenty of money saving tips just for vacations. Below are some of the best ways to save money on your next vacation:

  • Be flexible with your flight dates. A difference of just a day or two can sometimes save you over $100 per flight.
  • For tourist destinations, travel in the mid or off season instead of the peak travel season.
  • Stay in an Airbnb (mentioned above) for one of the best ways to save money while going on vacation.
  • Ask for a discount at the hotel you are staying at.
  • Eat like a local.
  • Buy groceries and eat out less (if you’re staying in an Airbnb, this is easy because many have kitchens).

Related: How To Travel On a Budget.


Visit the library.

Your local library can be a great way to have fun without spending any money.

You can check out the latest bestseller, a classic you’ve been wanting to read, or borrow movies, music, and more. There are actually a lot of libraries now that let you borrow things like cameras, GoPros, even telescopes, and more.

This is definitely one of the best ways to save money as all you need is a library card.

Related: 15 Best Books On Money Management


Sign up for Swagbucks and InboxDollars.

Swagbucks allows me to occasionally earn Amazon gift cards with very little work. Yes, this is definitely one of the best ways to save money that you can take advantage of today.

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. Plus, you’ll receive a free $5 bonus just for signing up today!

InboxDollars is an online rewards website that I also 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 by signing up!


Stop gambling.

Gambling at the casino and playing the lottery are both risky moves, and both of these things can cost you a ton of money. One of the best ways to save money is to either stop gambling entirely or know your stopping point and stick to it.

In the U.S. alone, people lose over $100 billion gambling each year (that doesn’t even include money lost playing the lottery).

And, according to Bloomberg, the average person who plays the lottery in the U.S. not only spends around $300 a year on lottery tickets, they also lose approximately $0.40 for every $1 in tickets purchased.

While I have gambled before (probably less than $100 in my whole life), I have never really enjoyed it. It always just feels like I am throwing my money away, and that is not something I have any interest in doing. 

Unfortunately, I have seen people file bankruptcy after gambling too much, and that is why it is such a dangerous activity to get into.

Gambling can be extremely risky, which most often makes it an unwise financial choice. However, if you choose to gamble, you should always know your stopping point, and you should be able to afford to lose the amount of money you are gambling with. Keep in mind that casinos exist for a reason – they make money when people lose money.


Have an emergency fund.

An emergency fund is something I believe everyone should have, and this is one of the best ways to save money as it can help you greatly in the future. However, according to a report by Bankrate, 26% of Americans have no emergency fund whatsoever.

According to this same report, only 40% of families have enough in savings to cover three months worth of expenses, with an even lower percentage having the recommended six months worth of savings.

This is frightening to me, as this is one of the best ways to save money because you’re less likely to go into debt if you have an emergency fund.

An emergency fund can help you if you lose your job, if your hours are cut, if you have an unexpected expense, and so on. Without an emergency fund, you may have to take out a loan, rely on credit cards, and more. And, all of those things can cost you a ton of money in the long run.

Read more at The Ultimate Guide On Emergency Funds.


Buy more secondhand items.

Purchasing used furniture, clothing, and more is one of the best ways to save money on the things you are already buying.

You can sometimes even get items for free by seeing what friends, family, and neighbors are trying to get rid of. You can also find free items listed on Craigslist or Facebook Marketplace.

Trust me, people want to give away their stuff! It’s much easier than trying to find a place to donate things (some places actually have too many donations and have to say no), plus it can mean the person doesn’t have to haul it away.


Split your costs with a roommate.

My husband and I have had roommates in the past, and while that’s not really a possibility now that we live on a sailboat, I do recommend that anyone with an extra room in their house think about giving it a try.

While renting a room in your house will not make you rich, this is one of the best ways to save money that may earn you a good amount of side income with little effort. 

If you are interested in renting out a spare room on a short-term basis (such as for vacations), I highly recommend that you check out Airbnb. I know people who are making thousands of dollars a month by renting out rooms on this website.

Related blog post with more saving tips about this topic: A Complete Guide To Renting A Room For Extra Money.


Buy a water filter.

Sometimes, in order to save money, you may have to spend a little.

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 probably 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 where the water is not clean enough to drink and that water needs to be bought, but that is not the average person.


Take part in a savings challenge.

The $20 Savings Challenge is one of the best ways to save money because this is one of the funnest money saving tips I’ll talk about. It’s very easy and starts you on a path to saving more money without even noticing! All you have to do is save $20 each week for a year, which easily adds up to a savings of $1,040. Right now is a great time to start this savings challenge.

And, it’ll make saving money just a little more enjoyable.

Sign up for The $20 Savings Challenge here.

Start micro investing.

Micro investing is one of the best ways to save money for your future. It means you are investing small amounts of money, even spare change!

There are a number of micro investing apps that allow you to use small amounts of money to purchase fractional (or micro shares) of ETFs or stocks. These apps also help you realize that it doesn’t cost a lot of money to start investing.

Now, micro investing won’t make you rich. But, it is an easy way to learn how the stock market works and how to start investing on a larger scale.

If you’re interested in learning about one micro investing as one of the best ways to save money, check out Acorns. Acorns will build a customized portfolio for you based on your risk tolerance. When you link a debit card to Acorns, you can add the Round-Ups option to round your purchases up to the next dollar amount, then investing the difference. 

Learn more at: A Beginner’s Guide to Micro-Investing

Save money on health care costs.

Next to your rent or mortgage, health insurance might be one of the most expensive things you pay for every month. Many families pay over $1,000 per month on health insurance alone.

And, health insurance isn’t a perfect solution. When we started traveling full-time, we learned that there weren’t many affordable options, which is how we found Liberty Health Share. This is a healthcare sharing program that allows us to share the cost of healthcare with like-minded individuals.

Healthcare sharing programs are not insurance, so you want to learn as much as possible about them before signing up. You can start by reading We No Longer Have Traditional Health Insurance – Liberty HealthShare Review.

Downsize your house.

While this is one of the best ways to save money, it can be hard for many families. But, think about how much a big house costs you. You are probably spending more for:

  • Mortgage or rent
  • Taxes
  • Insurance
  • Maintenance and upkeep
  • Things to put in your house

Your home is an important part of your life, but it can cost you a ton if you don’t really need the space. And, you might be surprised by how little space you can comfortably live with.

If you’re interested in learning more about how to save money with a smaller than average home, read Smaller Can Be Better – Maximize Your Savings With A Small House.

Stop trying to keep up with others.

We live in a world where everyone shares their life on social media. You might see the new house your friends just bought, new cars, new clothes, the newest cell phone, vacations, and more. 

But, just because the people around you have these things doesn’t mean you should spend your money on them.

What people don’t share on social media is the debt or financial struggles they have to “afford” these things. Rather than thinking you need to keep up with others, stay focused on what will actually make a difference in your life.

Paying off debt and saving for retirement are what allow you to live a better and healthier long-term financial life. And realizing that you don’t need what others have is one of the best ways to save money for years to come.

What is the best way to save money that you learned about this year? Do you have any saving tips to share? How much money do you save each month?

Filed under:

Michelle Schroeder-Gardner

Author: Michelle Schroeder-Gardner

Hey! I’m Michelle Schroeder-Gardner and I am the founder of Making Sense of Cents. I’m passionate about all things personal finance, side hustles, making extra money, and online businesses. I have been featured in major publications such as Forbes, CNBC, Time, and Business Insider. Learn more here.

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  1. DNN

    I totally agree with you to stop trying to keep up with the Joneses.

  2. Great read! Making money online by selling products or services is the way to go. Take some of the profits to do micro investing.

  3. Dani

    Seems like these lists always need a countdown (I’m old… David Letterman used to do top 10 countdown lists) and the #1 reason in this case would be do SOMETHING! I have a cellmate–I mean, neighboring co-worker–that is constantly telling me that she can’t wait to win the lottery. I never point out what a crap plan for retirement that is, but I have to remind her every time that she’s NEVER going to win if she doesn’t PLAY. So, I guess she’s not gambling, but she’s also not doing anything else to change her situation either.
    Great list! We’ve had a programmable thermostat for years, but I’m giving serious consideration to getting one that I can control from my phone. There are plenty of times when we go to bed earlier than the setting changes, and then this morning when we get up earlier than the Wake setting kicks in, and it was freezing… Hmm… your list got me thinking!

  4. Bunny-Hops

    Thanks for a good read! I agree with a lot of what you wrote, with the partial exception of gyms. For a good proportion of the U.S. you can’t go outside for about 5 months of the year and another proportion gets too hot to go outside for about 4 months of the year.Canceling a gym membership might not be a good option for people who are just starting to build a habit of working out.

    I don’t deny that gyms aren’t worth it’s value (especially if you’re not constantly going). Depending on the cost of gym membership, you can easily buy home gym equipment for the cost of 1 year-5 years membership. However, for someone that is just starting to build a habit of working out, it’s certainly better short term than buying expensive gym equipment that you’re not guaranteed to use…or worse – torturing yourself in freezing cold or risking a heat stroke!

    1. Yes, that’s why I say this:

      “Gym memberships can be costly if you’re not using them. If you’re not getting the full value out of your gym membership, then you should cancel it ASAP.”

  5. This was an awesome post! You can’t beat a list of over 50 ways to save money.

    I was surprised there weren’t more extreme ideas, like selling your car or only using 4G.

    Anyways, thanks for always producing awesome content!

  6. Jason

    It looks like my hair clipper was investment. For man with short hair it’s not an extreme method, just okay.
    Are micro investment safe?

    1. Carolyn

      There are definitely a lot of ways to cut spending. We have an antenna for our tv, we get 30 local and network channels with no subscription fees. You can buy an antenna for under $75 and save over a thousand the first year.
      I am definitely not going to shave my head, nor have my husband shave my boys’ heads. He is the family barber/stylist and he has been cutting my hair and giving my boys their monthly haircuts for years. Having the right tools and supplies as well as following good tutorials by real stylists versus a couple clowns that are doing a stupid video for laughs and views.
      We save over a grand a year, far more convenient, saves time and never a bad haircut.
      We drink water from our well, we fill stainless water bottles to take to work and out to run errands. No plastic bottle waste, let alone the plastic bottle taste.
      We pack lunches for work from planned leftovers. I get coworkers asking what is that wonderful smell as I heat up my lunch in my glass pyrex dishes, no plastic taste in my lunch. Saves me hundreds a month, and I am definitely eating healthier, no junk from the vending machine. I bring tea bags to have hot drinks during the day, not canned soda.
      We have the full amount of deferred savings taken out upfront from our paychecks before we see the money. Saving for retirement is sadly a thing
      too many people fail to do.
      And trying to keep up with your neighbors having a lush, weed free lawn is a toxic waste land. We don’t use pesticides or petroleum based fertilizer on our yard. More water is wasted watering lawns, than used to irrigate food crops. Pure stupidity. We clean up our leaves, shred them and use them as fertilizer in our organic garden.
      We consolidate trips. I figure 55 cents a mile as an added cost for each trip in my car. Brakes, tires, oil, gas, insurance are all costs that I pay, I try to reduce where I can.
      We walk and do yard work and chores. Plus we have a few kettle bell weights. Very good for many exercises at a low cost compared to expensive exercise machines.
      We cook with vegetables, herbs and fruits from our garden. Use single ingredients versus prepared foods. The cost per ounce on them is higher than steak, have low nutritional value, plus create more garbage. We reuse the jars that we can vegetables, jams, sauce, etc. they are not tossed in the garbage.
      Live like your grandmother did, she knew how to get the most from a limited budget.

  7. Alex

    amazing tips its enough to save money as any one can adopt one one them as per his routine and can save money. Old t-shirt – to – toilet paper, 🙂
    Using a coupons is very popular to save money many online sites now exists that we can use to save money like slickukdeals. As invention of affiliate marketing it become more convenient for every one to save money. Affiliate marketing provide platform to build own business and earn money and brand can also save money as they don’t need to sped in conventional marketing. Many affiliate sites such as slickukdeals(.com are very beneficial for end use or customer as they can find a lot of discount products and coupons for shopping online.
    Well, I will recommend you tips, it not possible to adopt all these tips but every one can get idea from here how to save money and use some tips.

  8. Stella White

    Let’s make a resolution to save money next year using these ways.