22 Money Savings Tips


Saving money is a big deal. Did you know that more than 78 percent of people say they use coupons to save money? How do you save? In virtually every facet of your financial life, you can cut costs. If you are tired of having no money in your checking account each week, it may be time to look for a new solution. Check out these money savings tips to get you started.

1. Cook at Home

Nothing will save you more money than eating at home rather than eating out. This could cut your food bill in half or more.

2. Car Pool to Work

You should car pool to work with coworkers if you live more than 30 minutes from your place of employment or have to go downtown to work. This will save you substantially on your gas costs, wear and tear on the vehicle and tolls.

3. No Fee Bank Accounts

Switch banks if you are paying fees for checking and savings accounts. The lowest fees are often at credit unions because these are non-profit organizations owned by the users of the facility.

4. Use Natural Heaters

Use your fireplace to heat the home during the fall months. If you have the funds to do so, invest in a pellet stove, which can cut down your costs for heating by 50 percent or more.

5. Monitor The Air in Your Car Tires

Put air in your car tires. Tires inflated properly will require help to lower your gas consumption. You may even find that just getting the oil changed timely can improve gas mileage significantly.

6. No ATM Fees

Avoid using an ATM that charges a fee. Walk into the bank, write yourself a withdrawal slip, and get your money without having to pay a fee for it.

7. Pay Your Bills On Time

Don’t pay your bills late. Those five to ten percent late fees add up. Pay them when they come in instead of paying them at the due date.

8. Unplug Appliances and Electronic Devices

Keep your computers unplugged when not in use. Do this to any appliance or electronic device running in your home. This will cut the costs significantly since even being “off” still uses electricity.

9. Think Over Big Purchases

Hold off on purchasing anything that is over $100 until you have a 24-hour cooling off period. Then, if you can wait up to 30 days, do so. This gives you time to get the best price for it.

10. Don’t Buy New Cars

Buy used vehicles instead of buying new. Did you know that just driving a new vehicle off the lot decreases its value tremendously? Look for a newer used car with fewer miles.

11. Ask Your Credit Cards for a Lower Interest Rate

Call your credit card lenders and ask for a lower interest rate. If you pay your bills on time, chances are good they will drop the rate just because you asked. You may even qualify for a no-fee, no APR period.

12. Borrow Don’t Rent Movies

Go to the library to get movies free instead of using subscription services. Many libraries have modern, updated collections.

13. Ask for a Debt Reduction

If you are in collections with any debt you owe, ask for a 50 percent reduction to pay it off immediately. Most will give you a sizable discount if you pay it off right away. However, you can negotiate the terms as well, including to make payments over a series of months.

14. Drink Water Not Soda

Stop buying soda in your home. Not only is it bad for you, but it is also very expensive. Drink water instead. If your family drinks 4, 24 packs of soda a week, that may cost you $25. That is $100 savings a month on soda alone.

15. Use Coupons

Spend an hour clipping coupons each week. Then, match those coupons to your grocer’s current ad. Buy from and plan meals around these ads and purchases. You could save 10 to 30 percent on your bill and you do not have to be a coupon hoarder or extreme coupon user to do so.

16. Pack a Lunch

Bring your lunch to work. If you spend $7 on a fast food meal every day, you are spending $35 a week or $140 a month on bad-for-you food.

17. Take Advantage of Rewards Program

Sign up for rewards programs at every store you use. This is a fantastic way to save money without actually spending anything. You may even get coupons just for doing so.

18. Use a Programmable Thermostat in Your Home

If no one is at home, allow the temperature to be higher or lower (depending on the time of the year) than you would usually keep it when you are home. Why heat an empty home?

19. Cash Is King

Don’t use credit. Use cash instead. It is a simple and perhaps the most important way to save money. The average interest rate in the US is 16.89 percent. That is nearly $17 on every $100 you spend using a credit card.

20. Ask For Discounts

Anytime you have a contractor come to your home, from a roofer to a plumber, ask for a lower price and a guarantee. You can negotiate pricing with these providers.

21. Don’t Emotionally Shop

If you are shopping just to get out of the house, you need to find a way to do something more valuable with your time that doesn’t bust your budget.

22. Make a Budget and Stick with It.

You need to know where your money is going and what you are doing with it.

Ultimately, you can save money on virtually any purchase you make any day. The key to making this happen is to simply put the time into finding the best opportunity to lower that cost.

  • Karla J

    I like to write it down on the back of my paycheck stub..then I have files that I keep confirmation numbers to..use the calendar to plan it all out…keep on track. Scream when I dont..cry..no not me..