Are you currently overspending, struggling to save, or stay on budget? It is no surprise that many of us struggle hard to find the money to save. If increasing your income is not possible to put some extra money aside in savings, then it is essential to be disciplined in your spending if you want to save money.
Many of us may already be familiar with some money-saving ideas, such as creating a budget or cutting out or cutting back on eating out. But, there are more smart and creative ways to save money every day, like using cashback apps and coupons to save on groceries and other shopping, buying generic products, and more. Below are 101 creative ways to save money whether you are tight on a budget or looking for reaching your savings goals.
You could really effortlessly build savings with some of these money-saving tactics.
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38 Fantastic Ways to Save Money in Your Daily Life
#1 Create a Monthly Budget
The first step to save money each month is to create a monthly budget. You can create a budget by using Microsoft Excel, Word, or even just a sheet of paper.
Start by listing out and adding up all of your sources of weekly and monthly income. List out and add up your monthly expenses. Make sure to create a budget line item for “savings” in your spending category so that you can put aside some money every month in savings.
Subtract your monthly expenses from your monthly income to figure out your balance. If you are spending less than your income, you have a surplus budget, but if you are spending more than you make, you need to either increase your income or cut spending to stay on budget. By cutting back on nonessentials, you can save money that can be put toward your debt repayment or savings account.
Use our free monthly budget worksheet to get your finances under control and get on the road to financial freedom.
As you can see, a budget will help you to save money each month.
#2 Pay Yourself First
One of the creative ways to save money is to pay yourself first. Make sure to create a spending category for “savings” and allocate at least 10% of your earnings for it. If you cannot afford to set aside a lot in savings, start small.
Many people generally pay for everything else and leave it until the end of the month, but they are left with nothing at the end of the month. So, in order to make sure you do not spend it on everything else, pay yourself first.
The most effective way to do it is to automate your savings. You can do it by setting up automated transfers between your checking and saving accounts.
Simply instruct your bank when, how much and where to transfer money every time you get paid by direct deposit or receive your paycheck.
#3 Plan Your Meals in Advance
By planning your meals in advance for a week or month, you will save money by only buying what you need. Once you know what you will eat for breakfast, lunch, dinner, and snacks for the week or month, you can shop for groceries accordingly.
If you plan your meals ahead and then shop accordingly, you can stop letting your groceries go to waste.
#4 Cut Back on Eating Out
It is amazing how much we spend on food when going out to a restaurant for dinner. If you are eating out several times a week, the cost definitely adds up.
It is an expense you can cut back on or cut out completely depending on your money saving goals. Cook at home to stop wasting money every week on eating out, instead. Homemade meals are much healthier for you, and probably taste better too.
#5 Invite Friends Over for Homemade Dinner
You do not have to feel guilty and lonely by not eating out on the weekend. You can invite friends over for homemade dinner. This will allow you to have fun with your friends and save money on eating out expensive restaurant meals.
You can host a potluck dinner to spend even less and save more money. If you do the potluck style, everyone will bring a dish (of food). It is a great way to have more fun with your friends, and save money.
#6 Pack Your Lunch
Brown bagging can save you a few thousand dollars every year, plus keep you healthy. It is one of the great creative ways to save money. Instead of going out to a restaurant for lunch, take your own lunch to work to save money and stay healthier.
If you cook in bulk when you make meals at home, you can prepare those extra meals or take the leftovers to work. They are cheaper and healthier than restaurant meals.
If you eat out for lunch five times a week and the average cost of a meal is $10, that is $50 a week and about $200 a month you are spending on eating out for lunch. Making your own lunch every day will save you a few thousand dollars annually.
#7 Make Your Own Coffee
If you grab a coffee every morning from your local coffee shop, and are spending $5 on coffee every morning, that is $35 a week and $140 a month. But if you brew your own coffee at home, the cost per cup of coffee can be between 15 and 18 cents. You can save over $1,000 per year on coffee by making it at home instead of grabbing one from your local cafe every day.
Buy coffee beans or coffee grounds to brew your own coffee at home. They are cheaper, and the coffee tastes better!
Make sure to put the savings in to your savings account. This Cuisinart coffee brewer has a built in grinder so you can save massive amounts of money each month if you are a coffee drink.
#8 Drink More Water
One of the easiest ways to save money every single day is to drink more water. By drinking more filtered water throughout the day you will save money on expensive beverages such as coffee, soda, juice, alcohol, etc. Plus, drinking as much water as you should will be good for your health.
Get a good water filter so that you will always have filtered water ready to drink anytime. This Brita water filter pitcher can be kept in the fridge and is ready every time you need a refreshing beverage.
#9 Do Not Purchase Bottled Water
Bottling your own water will save you money on buying bottled water. Bottled water is a waste of money. So, stop buying bottled water.
Instead, buy a good water filter and a refillable water bottle. Fill the water bottle with filtered water at home to take it with you so that you can save money on buying bottled water on the go.
The Life Straw water bottle has a built in water filter so you can enjoy fresh water on the go.
#10 Do Not Buy Take-Out – creative ways to save money
Learning to cook at home really will help you save, rather than ordering take-out. If you are spending $10 per take-out five days a week, then you are spending $50 per week with your takeouts.
By simply eating at home, you could be saving a lot of money per month on expensive take-outs. Home cooked meals are beneficial for both your body and wallet.
#11 Save on Kids Entertainment
You can save thousands of dollars on kids entertainment if you can find free things to do in your home, city or town, and teach them the value of money. Do not pay big bucks on them by going to movie theaters, expensive game centers, and restaurants to entertain your kids.
There are plenty of free or cheap activities that your children will love like playing outside, going to festivals and other events, doing outdoor yoga, checking out a museum with free admission, watching the sunset, and more.
#12 Buy Household Items at the Dollar Stores
Buying household items like soap, tape, wrapping paper, greeting cards, lunch bags, disposable plates and spoons, and other items at your local dollar stores can save you some money.
Do not buy just anything, though. Buy only the items that are in your budget. It is one of the great creative ways to save money.
Check out this article on how I saved money by buying organizing containers and baskets at the Dollar Tree.
#13 Cook in Bulk
Do not cook just one meal at a time. Instead, cook in bulk when you have much more free time to save money, time and energy. Pick meals your family likes to eat.
Pop a few dishes in the freezer to eat later for lunch or dinner. Keep the surplus in reusable containers. If you work away from home, take them to work for lunch to save on eating out for lunch.
#14 Quit Bad Habits
Unhealthy habits like smoking and drinking alcohol are not only bad for your health, they are also bad for your wallet. So, drop your vices.
We know it is not easy, but if you give up smoking and drinking, you can save thousands of dollars annually and live a healthy life.
#15 Take Care of Yourself – creative ways to save money
Save money on expensive medical bills by taking care of yourself. Take regular exercise, get enough sleep, and eat healthy food to keep fit and stay healthy.
If you stay healthy, that means less in health care costs. Visit your doctor regularly to prevent major medical issues later.
#16 Cancel Unused Memberships and Subscriptions
If you are paying a monthly fee for something you rarely use then you are not helping yourself to save money. Cancel your monthly memberships like gym membership, and monthly subscriptions like cable subscription that you rarely use to save some money each month.
If you do not use your gym membership frequently, is it still worth it? Instead of paying for expensive gym membership you rarely use, you can do workouts at home. If you have internet access, you can turn to workout videos on YouTube to create work out plans from home.
#17 Unsubscribe from Promotional Emails
Email marketing is a great way for merchants or companies to get you to spend more money. While some of these emails offer great discounts, you may end up buying things you do not need.
If you unsubscribe from these promotional emails, you can no longer be tempted to buy extra things.
#18 Learn to DIY
When it comes to DIY things, the options are endless. You can do your own painting, make your own cleaning products, make holiday gifts, do your own makeup, change air filters, fix leaky toilets, and DIY more things to save a lot of money. You can learn these types of things watching YouTube tutorials, and from friends and relatives.
#19 Renegotiate Your Contracts
You could contact your cable, internet, car insurance, landline phone, or other service providers to negotiate a better rate on your contract. Use comparison websites to compare prices on everything.
#20 Cut Your Water Bill
You could save money every month by cutting the cost of your water bill.
There are many tricks you can use to save money on your water bill.
- Take shorter and slightly cooler showers
- Wash clothes or dishes in cold water
- Turn off the tap when you brush your teeth
- Install low-flow showerheads
- Lower the temperature on your hot water heater
- Water your plants with used water
#21 Earn Cashback Online – creative ways to save money
If you are a frequent online shopper, you can save lots of money on essential items you were going to buy anyway by using cashback sites and apps. There are a variety of apps that will give you a percentage of money you spend on thousands of items, including groceries, toiletries, clothing, healthcare products and more.
Rakuten (formerly Ebates) is the best cashback app for online shoppers to save a bit of extra money.
#22 Save Spare Change (and $5 Bills)
Keep saving up all the spare change in a jar. Just keep dropping your loose change into the jar. It is an effortless way to save money.
Once a month, or when it is full, collect the change and deposit it into your savings account.
Even better if you set aside every single $5 bill and save it. Putting aside your loose change, loose dollars and $5 bills in savings regularly you can save a significant amount of money by the end of the year. This is one of my favorite ways to save money.
#23 Put Money Aside for the Holiday Spending
If you try and put a little money aside each month, then you will have some cash on hand before the holiday season rolls around to spend on holiday gifts, decorations, etc. If you can save all the money you will need for your holiday expenses, then you can avoid getting into holiday debt.
Set up a savings account for your holiday expenses and automate a pre-determined amount of money to go to this account each week or month. By the time the holiday season rolls around, you will have money ready to spend.
#24 Learn to Sew
Learning to sew can really help save a lot of money. Sewing is a useful skill that you can learn to sew on buttons and patches, fix zippers, etc. By learning to repair clothing, coats, curtains, and other household items, you can save a ton of money on buying new stuff.
#25 Skip the Candles
Many of us use candles to make our home smell pleasant, but candles can cost you a lot of money if you buy them several times a month.
Instead, you can use expired spices, leftover ginger, leftover herbs, etc, ingredients to make pleasant scent that will make your home smell good. It is one of the awesome creative ways to save money.
For example, a simmering pot of cinnamon and vanilla extract can make your home inviting to others.
#26 Save on Haircuts – creative ways to save money
If you are a family of 3 or 4, the total cost of haircuts can really add up. By cutting your family’s hair, you can really save a lot of money on haircuts. I know this is not for everyone, but if you can cut your kids and husband’s hair, and your husband can cut your hair you can save more than $100 per month on your family’s haircuts.
You can also save on haircuts by getting cheaper or even free haircuts by students in training at your local beauty school or top salons near you.
#27 Downgrade Your Services
If you are paying for extra channels that you do not watch on the TV, downgrade your cable package. How about downgrading your internet package if you are paying for unlimited internet access but only use the internet a few hours per week, or for only checking emails? Downgrading your services will save you money each month.
#28. Visit Your Library
By visiting your local library you can save money on buying books, subscribing to the daily newspaper, buying movies, and more.
For example, if you have a library card you can read books, magazines, newspapers, and more, borrow DVDs, and more completely for free. Just make sure to return anything you borrow on time to avoid paying late fees. You can also save money on kids entertainment as most libraries run baby and kids activities like story or music time.
#29 Buy Secondhand – creative ways to save money
You can buy just about anything that is gently used or even never used at all online, at thrift and second-hand stores or through a variety of apps. Since kids grow out of their clothes fast, you can buy secondhand clothes in good shape for your kids to save a lot of money on buying brand new clothes for them. There are so many things to buy used if you want to save money.
Some items you should consider buying second hand to save money include used clothes, books, games, toys, pre-owned gift cards, CDs, DVDs, jewelry, furniture, home decorations, kitchen appliances/items, bikes, cars, workout equipment, accessories and more items. eBay, Amazon, Etsy, Facebook Marketplace, Craigslist, ThreadUp, Poshmark, etc. are some of the best places to shop secondhand online.
#30 Remove the PMI on Your Mortgage Payment
Did you know that you can get your PMI (Private Mortgage Insurance) removed from your monthly mortgage payment once you reach 20% equity in your house? If you are paying PMI each month, it is money you will never get back.
If you can, increase your monthly mortgage payment to reach 20% equity in your house in order to get rid of your PMI. Put the savings you make on PMI into a savings account.
#31 Use Public Transport
Depending on where you live, you can use public transportation to save money on commuting. You can try walking or taking the bus to save money on paying for parking and fuel. If you walk
#32 Buy Regular Fuel
If your car does not require premium fuel, buy regular fuel. Do not buy premium fuel if your car will run on regular fuel.
If you put regular gasoline into it, you will save hundreds of dollars by using regular fuel for your vehicle. You can also save on fuel by taking advantage of fuel rewards programs that give you a discount on gasoline.
#33 Buy a Second-Hand Car
While an older car typically requires more repairs and maintenance, you can save on insurance and registration when buy a second-hand car.
#34 Buy Cheaper Gas – creative ways to save money
Request your energy supplier to offer you a lower rate, or find a new energy supplier that offers a cheaper deal. You can use apps like GetUpside to track the lowest gas prices in your area. Some credit cards offer rewards if you pay with them for gas, which means even more savings.
#35 Pay Auto Insurance Annually in Full
You may get a discount on your auto insurance policy from your auto insurance company if you pay upfront for the auto insurance annually in full instead of making payments each month.
#36 DIY Car Maintenance
DIY car maintenance can be a huge money saver. It is one of the great creative ways to save money. You can learn to do things yourself like changing the oil, changing an air filter, replacing wiper blades, washing your own car, and more basic car maintenance tasks to cut costs of repair and maintenance.
#37 Drive Slow
Driving too fast will make your vehicle consume extra fuel. You will get the best gas mileage when your speed is 45 mph.
When you go over 60 mph, your vehicle consumes considerably a lot of extra fuel. By driving slow, you can make your car more fuel-efficient and save money over time.
#38 Set Your Saved Money Aside in Savings
If you have decided to bring lunch to work what do you do with that $200 you were paying each month for lunch? Make sure to save your saved money in a savings account or put that extra money into your emergency fund, or toward debt repayments. Do not spend that money on other things. This is the most effective way to save money.
#39 Earn More Money
This is a no-brainer that the more you earn, the more you can save. If you can make more money, it is even easier to save money. You can bring more money in by working overtime at your current job, taking a second job, starting a side hustle, selling stuff you do not need or want, and more ways.
If you can earn more money, you can then pay off your debt and save more. Once you are debt-free, have a fully-funded emergency fund, and have reached other money goals, you can spend more on entertainment, eat out more, etc.
Ways to Save Money on Groceries, Clothing, and Other Shopping
#40 Make a Shopping List and Stick to It
Always make a shopping list before you go shopping for groceries, clothing, etc. and then stick to it.
It is an effective way to steer clear of impulse buys, because you are less likely to buy anything that is not on your shopping list. It will save you both time and money. So, do not shop without a list.
#41 Buy Certain Things in Bulk
Buy certain things such as toilet paper, laundry detergent, and other non-perishable grocery items in bulk if you can get the best deals per unit to save money.
You can spend even less when they are on sale. Plus, you can maximize your savings by using coupons. You can also buy fresh items and dairy in bulk if you intend to use them immediately.
#42 Try Off Brand Items – creative ways to save money
People typically trust the quality of brand named products. But, many generic or off brand products are usually similar to the more expensive name brand products. Often, there is no difference in flavors whether you buy brand or off brand items. So, you can try off brand items to save money.
#43 Get Cash Back on Groceries
You can save a lot of money on groceries thanks to cash back apps and websites out there. Ibotta is the best cashback app for grocery shopping online or in store.
Before you shop in store, simply add the offers on items you are going to buy anyway to your Ibotta list, buy the items, take a photo of your receipt and upload it to the app. Ibotta then gives you cashback on your grocery purchases in your account within 24 hours.
If you have a store loyalty card, you can link it to your Ibotta account to earn cash back automatically on any added offer items when you shop at that specific participating retailer. No receipts are required. You can also earn cashback online using Ibotta app when you shop online at retailer apps or websites.
#44 Use Coupons
Before you purchase anything, always check out couponing sites for online coupons. Print out coupons which have offers for items you are going to buy anyway. Also, coupons can be cut out from newspapers and magazines.
You can download apps like Honey and Savvy that search and find the best coupons for items you purchase online. Redeem them at the checkout to save money.
Use coupons only for the items you would buy anyway. Do not use coupons just for the sake of getting a good deal on things you normally would not buy otherwise.
#45 Take Advantage of Discounts
Loads of grocery stores and restaurants offer discounts at certain time of the day, or on certain days of the week. Learn about these discounts at your favorite stores in your area to buy the items you were going to buy anyway at the cheapest price.
Use discount vouchers to buy only the things you need.
#46 Take Advantage of Grocery Pick Up Services
Not only can you save money but also time if you use grocery pick up service. There are some companies that offer this service via an app or web application.
Also, using grocery pick up service is a great way to avoid impulse buys and save money. Instacart is an excellent grocery service that is very inexpensive. You can get your first pick up for free and get $20 in credit today.
#47 Join Store Loyalty Programs
Check out if your favorite stores offer store loyalty programs. If they do, join their store loyalty programs to earn points on your purchases that can be redeemed for future purchases. You can save up to 25% or more off purchases through the store loyalty programs.
#48 Buy Produce in Season
Certain fruits and vegetables will be less expensive when you buy them in season at local stores in your area. Plus, they will taste more fresh or be yummier. You will save even more if you buy locally grown produce during the spring, summer and fall at local farmer’s markets in your area.
Do not buy out-of-season fruits and vegetables. For instance, do not buy strawberries in winter. You can buy them for less than half price in season.
#49 Go Meatless Once a Week
By going meatless at least once a week, you can not only save money on expensive meat, but also lower the risk of certain diseases by eating more plant-based diets.
You can save on meat by eating small portions of meat, eating chicken and lots of plant-based protein like vegetables, beans, lentils and whole grains.
#50 Check Your Receipt – creative ways to save money
Every time you check out, make sure to check your receipts. There can be mistakes on your receipts if the price of an item on sale rings up at the regular price, the package of an item has the wrong price, cashier enters the code of an item incorrectly, you buy the wrong size of an item for the coupon or sale, or due to other kinds of mistakes.
#51 Eat before Grocery Shopping
Never go to the grocery store when you are hungry. Eat before you go to the grocery store or supermarket after you have eaten.
When you shop on an empty stomach, you may make some impulse purchases. So, eat a meal or snack if necessary before you head to the grocery store.
#52 Buy Quality Products
Buying quality products will save you money in the long run. A quality washing machine, dish washer, vehicle, etc. will cost you a little more up front but they will provide better results in the long run. Buy quality furniture, shoes, clothes, and other items that will last longer than their cheaper, inferior versions.
#53 Scan Your Purchases to Earn Money
There are some apps such as Receipt Hog, Ibotta, ReceiptPal, and more that will pay you to scan your purchases. These apps do not require you to go to any specific store for shopping and pre-select any offer before shopping.
When you purchase anything, you just need to scan the receipt of your purchases and then upload it to these apps to earn money. If you scan your purchases regularly, your earnings can add up over time.
#54 Always Comparison Shop
Before you buy anything in store or online, use comparison shopping websites or apps to compare product prices across all stores. These sites or apps allow you to compare the product prices across different stores to find out where to get the best deals. When you are comparing prices, make sure you always check the price per kg as well as the price tag.
#55 Shop Brands on Sale
Wait for sales to shop your favorite branded items. Brands or companies offer sales deals and discounts on branded items throughout the year.
If you fancy a particular brand item, wait until the sales deals come around. But you should shop brands on sale only when you truly need something.
#56 Beware of Special Offers
Special offers, sales deals and cashback deals are a great way for merchants or retailers to make you spend more. But, if you want to spend less and save, never buy something you do not need just because it is on offer.
Instead, find an offer on something you were going to buy anyway. Put the amount you saved through the offer into your savings account.
#57 Do Grocery Shopping Online – creative ways to save money
If you try grocery shopping online, you can save money on fuel. You will also save time and energy. Plus, if you do grocery shopping online, you are less likely to buy impulse purchases.
For instance, if you go to the grocery store on an empty stomach, you may overspend on food, but when you do online grocery shopping, you can stop overspending on foods.
You can also compare prices online to save money by purchasing items at the store that has the lowest price.
#58 Use Cash Back Rewards Credit Cards
You can use cash back rewards credit cards to save money on everyday items. When you purchase something with a cash back rewards credit card, you will get cash back rewards on your card. But make sure it is in your budget and that you pay off your card balance in full each month.
#59 Shop Out of Season
Buy things when they are out of season to get the cheapest prices. For example, you can buy winter coats in the summer and holiday decorations and gifts after Christmas to get the cheapest prices.
You can save a lot of money on gifts or presents if you take advantage of the sales after the holiday season to buy them. Save the presents for the next year.
#60 Shop for the Holidays After the Holidays
After each major holiday, stores put seasonal items on sale. You will save 50% or even more money on the items you need for the next holiday if you buy them at the end of each season for discounts.
#61 Make a Holiday Shopping List (and Stick to It)
It is no surprise for most of us that our spending can easily get out of control during the holiday season as holiday spirits can guide our purchasing decisions during this time of year. But you can stay out of holiday debt by making a list of people you will buy gifts for.
Alos, make a list of all the items you will spend money on over the course of the holiday season. Without a list, it is too easy to overspend by destroying your budget. Reduce the number of gifts you buy for each person on the list to save more money.
#62 Make Your Own Gifts
If you are a creative person or an artist, there are so many items you can make and give as gifts rather than buy expensive presents.
You can make and give homemade gifts such as picture frames, for birthdays, holidays, new babies, and more.
#63 Avoid Impulse Purchases
Many of us spend money on things we really do not need. If you are an impulse shopper, use the 24 hour rule. With this money-saving tactic, you take 24 hours to think over whether you want to buy something.
If you still really want to buy it after 24 hours, it may not be an impulse purchase. But make sure it is in your budget. The 24 hour rule helps you avoid buying something on impulse.
#64 Follow the 30-Day Rule
The 30-day rule is to give yourself 30 days to think whether it is worth spending money on a big ticket item or not. If you want to make a big purchase, wait 30 days.
If it is a “want” item rather than a “need” item, it is more likely that your urge to buy will pass. But, if you still want it after 30 days, then go for it.
#65 Bring Your Own Bags
I know this will not save much, but every little helps. Instead of buying plastic bags every time you go to the grocery store, buy and use a reusable shopping bag that will last several years.
Ways to Save Money On Your Credit Cards, Banking and Investing
#66 Spend Less Money on Interest
If you have multiple credit card debts, and are paying high interest rates on your outstanding credit card balance, it is costing you a lot of money. But you can spend less money on interest by reducing your interest rate if you can get a balance transfer credit card with a lower rate.
You can then put that amount you save on interest payments towards your new credit card payments to pay off your debt faster. It is one of the great creative ways to save money.
#67 Stop Using Your Credit Card(s) for a While
It is too easy to make impulse purchases with credit cards. So stay away from credit cards. If you are carrying over a credit card balance, then stop using your credit card.
Instead, focus on reducing the interest payments and paying off the debt as soon as possible to save money on interest payments.
If you must use your credit card to buy things or pay bills, consider getting a cash back rewards credit card, but make sure to pay off your credit card bills in full each month. Also, do not rely on a credit card for emergencies. Instead, save up for an emergency fund to pay for unexpected expenses.
#68 Lower Your Credit Card Interest Rates
If you are carrying a credit card balance and paying high interest rates on your outstanding credit card balance, it is costing you a lot of money on interest payments. Call your credit card companiy and ask for a lower rate. Often credit card issuers will be willing to lower your rate if you have always made your card payments on time. Plus, mention their competitors who are offering lower interest rates.
If you can pay less interest rates, you can save thousands of dollars on interest payments every year, depending on your credit card balance.
#69 Cut Banking Fees – creative ways to save money
You can save money on bank fees such as minimum account maintenance fees, minimum account balance fees, and more.
There are some banks that offer basic bank accounts with no minimum account balance fees, minimum deposit amounts, overdrawn fees, and foreign transaction fees.
#70 Set Up Automated Savings for Small Amounts
The most effective way to save money is to set up automated savings. Every time you get paid by direct deposit or receive your paycheck, you can have your bank transfer a pre-determined amount of money automatically from your checking account to your savings account.
By automating your savings, you can make sure to pay yourself first and keep saving.
#71 Save Your Cash Windfalls
Do not splurge on any cash windfalls such as tax refunds, bonuses, commissions, etc. Instead, use your cash windfalls to boost your emergency savings fund. If you have a fully-funded emergency fund, then use the cash windfalls to pay off your debt, or boost your savings if you are debt free.
#72 Use Cash Whenever Possible
When you pay with cash for shopping or daily living expenses, you cannot spend more than what you have. But it is easy to overspend if you pay with credit cards as you do not see the money leaving your possession.
You may be tempted to buy things that are not in your budget if you use your credit card for shopping or daily living expenses. If you carry cash, you will feel less inclined to buy things that are not in your budget.
Even if you pay your balance in full on time each month, still you can buy things you do not need.
#73 Use Rewards Credit Cards
One of the most creative ways to save money on money you are spending anyway is to use a rewards credit card that will give you cash rewards or point rewards when you use it to make purchases and pay bills.
You can redeem your cash rewards for credit to your account, gift cards, a check, or a direct deposit to a bank, depending on the rewards credit card and your choice. You may be able to redeem your points for cash, gift cards, or air miles. Do not forget to pay off your balance on time every month to avoid paying interest.
#74 Pay Off High Interest Debt Fast First
If you have multiple debts such as credit card debts, auto loan, student loan, etc., pay as much as you can to pay off the debt with the highest interest rate first while making the minimum payments on your other debts. By eliminating the debt with the highest interest rate first, you will save money on interest payments.
Once you have paid it off, add those payments you were paying on the debt with the highest interest rate to the monthly payment on the next debt with the highest interest rate to pay it off. Pay off your debt first before you start saving or investing.
#75 Use a 0% Balance Transfer Credit Card
If you have accumulated credit card debt, and are paying high interest rates, then get a 0% balance transfer credit card to save money on interest payments and get out of debt faster.
A 0% balance transfer card pays off your current credit card debt and transfers it onto the new card. You then get a certain period of time to pay it off without paying any interest. This is a great way to save hundreds or thousands of dollars annually on interest payments, depending on your outstanding debt.
#76 Automate Bill Payments – creative ways to save money
Make sure you pay your bills on time to avoid late payment fees. You can automate bill payments by automatic direct debits from your bank account, but make sure to track your payments.
You may also save some money on your bills as Some companies may give you some discounts if you pay your bills to them through automatic bill payments.
#77 Improve Your Credit Score
Paying your credit card and other bills on time each month will boost your credit score. A good payment history will increase your credit score that can save you a lot of money on interest payments if you are planning to apply for home or car loans. Lenders typically set interest rates based on your credit history.
If you already have a credit card, and have built a good credit history over time, call your credit card issuer to lower your interest rate. Your credit card company may reduce your interest rates based on your payment history and your credit score.
#78 Avoid Credit Card and Overdraft Fees
Do not waste your money on overdraft and credit card fees. Always pay your credit card balance in full on time each month to avoid paying interest.
If your bank offers you an overdraft, do not dip into it because your bank will usually charge fees if you borrow money through an overdraft. So, do not spend more than you have in your bank account.
#79 Maximize Your Retirement Savings
The maximum amount you can contribute to your 401(k) plan in 2019 is $19,000, or $19,000 if you are 50 or older for retirement savings. Increase your 401(k) contribution when your income goes up or you get bonuses.
Your 401(k) contributions will grow tax-deferred until you withdraw the funds at retirement. By contributing more to your retirement savings account now, you will reduce your taxable income and save more money.
#80 Take Advantage of Employer Match Program to Maximize Your Retirement Savings
If your employer offers a match to your 401(k) contributions, make the maximum contribution to your 401(k) account to save more money for your retirement. By taking advantage of matching contributions offered by your employer, you are basically saving more for your future with your company’s money.
#81 Do Not Use The ATM
It is easy to take out money from the ATM, and spend it on something that is not in your budget. Besides, you can pay ATM fees if you use an ATM that is not part of your bank’s network.
So, do not use the ATMs if you are trying to save. Get the cash you need via check from your bank after each payday, instead.
Ways to Save Money Around Your Home
#82 Unplug Everything
Did you know that electronics and appliances like TVs, laptops, cell phone chargers, coffee makers, and more continue to use energy when turned off?
The energy lost even when your electronics and appliances are turned off is called vampire energy. This adds to your energy bills.
So, unplug your electronics and appliances to save money on energy bills. You can use a smart power-strip to turn off electronics at once.
#83 Pay Off Your Mortgage Faster
By making extra repayments, occasional lump-sum amounts, and/or making repayments more frequently, you can save tens of thousands of dollars on interest payments as extra repayments will reduce your loan (your principal) faster.
#84 Cut Your Water Bill
You can save a few hundred dollars annually by using water more efficiently in your house. Take shorter and slightly cooler showers. Install low flow shower heads to reduce your water usage. Fix water leaks to save money on water bill.
#85 Shop Around for a Cheaper Mortgage Rate
Do not just settle for what your bank offers. You can always shop around to get a better rate. Even a small difference in rates could save hundreds of dollars in mortgage interest rate per year.
#86 Choose a Variable Mortgage Rate
If you choose a variable mortgage rate, you can make extra repayments without fees to save on interest and pay off your loan sooner. It is also easier to switch your mortgage if you find a better deal elsewhere.
#87 Refinance Your Mortgage or Renegotiate Your Rent
Get a better mortgage rate to save money on interest payments. If you are a homeowner, you can save money on interest rate by refinancing your mortgage.
Even a small difference in rates can save you thousands of dollars over the life of the loan, depending on the mortgage. Calculate how much you will save on interest payments each month and then set it aside in savings.
You can also make extra payments with that savings to pay off mortgage sooner if you have a fully-funded emergency fund and do not have any credit card debt. If you live in a rented house or apartment, try to renegotiate a lower rent the next time your lease is up for renewal.
#88 Make a Bigger Down Payment – creative ways to save money
By making a bigger down payment, you will save a lot of money on interest payments. Calculate how much you will save on interest payments each month if you make a bigger down payment when it comes to buying a house.
Put that amount into your savings account each month to make sure you are not spending your savings on something, or put it toward making debt payments on your credit cards.
#89 Get Better Insurance Rates
Do not settle on the rates your current insurance provider offers. Look around at other home, health and car insurance companies in your area. You could save several hundred dollars a year by switching to another provider that offers the best deal on insurance rates.
#90 Ditch Cable
If you are paying for hundreds of channels but not watching the TV every day, ditch the cable to save hundreds of dollars annually. It is one of the great creative ways to save money.
You can still watch your favorite programs on the TV by choosing cheaper alternatives like Netflix, Hulu and Stan. Even you can save a substantial amount of money by downgrading your cable package.
#91 Use Energy-Efficient Light Bulbs
Replace the old-fashioned incandescent bulbs with energy-efficient light bulbs such as CFL or LED bulbs to save on electricity usage and cut your energy bill. LED bulbs may cost more initially, but they use 75% less energy than incandescent bulbs. They also last longer.
#92 Turn Off the Lights
You have heard it before, but it still saves you money. It may sound simple, but you can really lower your electricity bills by turning off your lights when they are not in use.
Those little expenses can really add up. So, always remember to turn out the lights when you leave a room or when not in use.
#93 Summer-Proof Your Home
You can use AC to stay cool and still save money during the hot months of the year. Using a programmable thermostat, you can adjust the temperature of your home while you are asleep or away from home for several hours.
It will allow you to cut down your energy bill in summer. Turn off the AC when it cools down outside. Open the windows to let the cool air in.
Ceiling fans can make your home feel cooler. Seal up the cracks and gaps in doors and windows with weather stripping. By using less energy on AC, you will also help protect the environment.
#94 Winter-Proof Your Home – creative ways to save money
You can cut down your energy bills during those cold winter months to save money and still keep your home warm. Fixing your drafty doors and windows, leaky foundations, etc. will prevent heat loss and save you money on energy bills as your heating system will not have to work as hard.
Closing the vents and doors in rooms that you do not use frequently, and sealing up an open fireplace will save you money on energy usage. Keep your curtains and blinds open during the day to let the sun heat your home. All these tips will help save money on your energy bill.
#95 Dress in Layers
In winter, wear an extra layer of clothing such as a sweater or a blanket to stay warm and allow you to turn your thermostat down to save on energy. You can even place a hot water bottle in the bed to keep your warm and turn the thermostat down.
During the hot months, put on fewer clothes to stay cool and allow you to save on energy by turning the thermostat up by a few degrees.
#96 Use a Programmable Thermostat
It may sound simple, but you can really save money if you use a programmable thermostat. Turn it up in the summer and down in the winter one or two degrees.
If you turn your thermostat down by just 1°C, you could cut the cost of your heating bill by 10%. By turning your thermostat down by 1°C you could cut your heating bills by up to 10%.
#97 DIY Air Conditioner Service
A clogged air filter restricts air flow and can require up to 15% more energy to run your system efficiently. Learning to replace your clogged air conditioning filter or clean your reusable filter for dust, debris and other contaminants yourself regularly (once a month) will save you money on energy bills and hiring a professional technician.
#98 DIY Furnace Service
You can save money on furnace repair bill by learning to maintain your furnace. Change your furnace filter yourself once a month or every couple of months to keep your HVAC system run more efficiently and save money on hiring a professional HVAC technician for heating repair/replacement services.
#99 Plant a Garden
If you are trying to save some money, growing your own fruit and vegetables is an excellent way to save a lot of money on food each month.
You will save tons of money if you grow your own herbs and vegetables at home. You can grow parsley, cherry tomatoes, chives, chillies, and more herbs and vegetables even in small spaces. Homegrown herbs and vegetables taste better too.
#100 Choose Energy-Efficient Appliances – creative ways to save money
If you need to buy new appliances, make sure to purchase an Energy Star model of each appliance to save money on energy. Energy-efficient appliances use less energy, so you will save on energy bill.
#101 Entertain at Home
If you are trying to save some money each month, find something to do at home to save money on entertainment. Going out will cost you money if you enjoy shopping, going to the theaters or movies, or eating out. Instead, stay home to spend quality family time.
You can find a new hobby like reading or cooking, dine at home to enjoy some quality time with your family and friends, play games with your kids, etc.
BONUS: Rent Out a Room
If you have a spare room in your house you can earn a few hundred dollars or even more by renting it out, depending on your location, availability of the room, etc. List your room(s) or entire home on Airbnb for free.
Every time a guest makes a reservation, you will earn money from your spare space. It is one of the cool creative ways to save money.
While many of these money saving tips do not save much on their own, if you do some of them, you can easily save a significant amount of money each month. If you find that you already do some of these creative ways to save money, you might find that you can do several of the others too.
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