23 Money-Saving Tips You Can Start Trying Today (2024)

Some apps also offer coupons you can “clip.” Before shopping online or heading to the store, look for coupons or discount codes to save here and there, Arevalo suggests. Apps like RetailMeNot or CouponCabin are a good place to start, or just google a retailer’s name and “coupon code” to find discounts. You can also try the Honey plug-in that automatically identifies when you can save money on an online shopping purchase as you check out.

7. Save your spare change.

Tossing spare change into a jar adds up. Apps like Acorns and Chime do it digitally by rounding up your purchases and saving the difference. “You can save a lot of money without even knowing it,” Alderete says. Again, even if it’s small bits of change here and there, it all adds up over time.

8. Cancel subscriptions you don’t use.

Never use your gym membership or watch one of the streaming services you subscribe to? Harriet Chan, cofounder and marketing director at CocoFinder, says she keeps track of her subscriptions to know how much she spends on them and cancels ones she’s not using very much to save money. For example, she chose to cancel her gym membership and started doing free workout videos online instead.

9. Invest in insurance.

Purchasing renter’s insurance or pet insurance and upgrading your health plan may be an extra up-front expense, but if you can swing it, Salisbury says it can save money in the long run. “It’s better to pay a bit up-front, little by little, than having to scramble for unforeseen expenses that could be much higher,” she says.

10. Never grocery-shop without a list.

We all know the most important grocery shopping rule: Never go to the grocery store when you’re hungry. You shouldn’t go without a list, either. Meal planning and making a list before grocery shopping will prevent overspending and help you stick to your budget, Alderete says.

11. Leave your online shopping cart overnight.

Impulse buys often lead to overspending. Darla DeMorrow, a certified professional organizer and owner of HeartWork Organizing, says she adds items to online shopping carts but waits a day or so before purchasing. “You aren’t depriving yourself because you can’t afford it; you’ll get it later,” she tells SELF. Plus, some retailers will even email you a discount code as an extra prod to make the purchase. If it's something you really want or need, that's a great bonus!

12. Don’t save credit card information with online retailers.

When an online shop asks if you want to save your credit card details for next time, say no, says Tiffanie Gonzalez-Quevedo, founder and brand manager of High Maintenance Media. It makes it too easy to just press “purchase” without really thinking about it. Gonzalez-Quevedo tells SELF that she used to have her credit card numbers memorized, but actually called and ordered new cards so she couldn't order items on a whim. “I now have to actually take time to get my wallet and reflect on whether or not this purchase is necessary,” she says.

13. Take the 52-week money challenge.

This method involves saving $1 the first week, $2 the second week, and so on until week 52, when you save $52. After a year, you’ll save $1,378. The process gets you in the habit of saving, Alderete says: “That incremental saving helps you build momentum and see your savings grow.”

14. Ask creditors for lower interest rates.

High-interest rates and fees increase your credit card and bill payments. An overlooked money-saving tip, Alderete says, is to contact creditors and service providers, like cable and phone companies, and ask if they can lower interest rates, waive fees, or offer discounts. The worst that can happen is that they’ll say no, so it’s definitely worth a try.

15. Stash away unexpected lump sums.

Extra, unexpected money, such as the new child tax credits or a tax refund, is an opportunity to save. Lisa Sanchez, fashion editor at The Nines, puts at least half of any birthday money and cash back from apps into a Chime savings account, which she says has a relatively high interest rate. “I’ve been able to save money for trips, mortgage payments, and car repairs,” she tells SELF.

16. Use step-down spending.

Step-down spending refers to tweaking spending habits incrementally. “It’s the idea that you do something that you want to do, but you spend less money doing it,” Alderete says. For example, instead of going to the movies at night when tickets are more expensive, go to a cheaper matinee. Step it down further by renting the movie at home.

17. Leverage credit card rewards.

Getting a credit card that offers a solid slate of rewards when you purchase can help you rack up some extra money without trying. Sanchez leverages credit card rewards to purchase gift cards at Target, where she shops for essentials, and Starbucks, which she gives as gifts. “I end up saving hundreds of dollars a year,” she says. Credit card rewards money can be used to pay down your bill, pay for plane tickets or hotel bookings, or simply be transferred to your checking or savings account.

18. Set a specific “de-stressing budget.”

Saving money can be stressful, so Monica Davis, founder and editor in chief of the blog My Straightener, sets a “de-stressing budget” to designate money for items or activities, like unplanned eating out, spa days, or other self-care activities. “That way, you will keep your savings safe from impulsive spending and reach your goals,” she tells SELF.

19. Save money by bartering.

Have a skill or offer a service? Bartering, or exchanging services or items, is another money-saving tip that can work for some people. For example, Alderete says she has a friend who owns a carpet-cleaning business who uses bartering to save money, including getting free school tuition for her child after cleaning the school’s carpets. Of course, if you have a skill that you do for a living, you want to make sure you’re being paid your worth. But ideally, bartering can be a way to get a great deal on something you really want or need that’s worth more than the cash you’d get for the job.

20. Sell items you don’t use.

Selling clothing, household items, or anything else you’re not using on sites like Poshmark, Facebook Marketplace, and eBay can bring in some extra cash. Arevalo recommends saving the proceeds or using them to pay down debt.

21. Lower your utility bills.

There’s a reason parents love setting the heat at borderline-unreasonable temps in the winter. Lowering your thermostat by 7 to 10 degrees for eight hours a day can save up to 10% a year on your utility bills, according to the U.S. Department of Energy. Jen Stark, founder of Happy DIY Home, says installing a tankless or on-demand water heater can save you even more. “This extra money can go straight into your savings account,” she tells SELF. Of course, this is another tip that may involve some significant up-front spending to save in the long-term, so your mileage may vary on how realistic that is to actually implement.

22. Use spending as a reward.

Focusing on saving doesn’t mean never buying something you love or spending money on an activity you enjoy. But consider delaying the purchase as a reward for meeting your savings goals, Salisbury suggests. “By delaying that purchase, you’re giving yourself more time to save for that special splurge or treat-yourself item,” she says.

23. Plan for the future.

As you plan your savings strategy, you want to make sure to save for retirement too, Arevalo says. It’s a good idea to set both short-term savings goals, such as a vacation or a home down payment, and long-term goals, like retirement. You can read about the different types of retirement savings plans on the IRS website, but this stuff can get confusing. If you’re struggling to figure out the best retirement savings plan for you, talking to a financial adviser can help. A good place to start is with your company’s H.R. department. Find out what retirement savings plans your employer offers (and if they chip in some contributions on your behalf), and then go from there.


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Insights, advice, suggestions, feedback and comments from experts


As an expert in personal finance and money-saving strategies, I can provide you with valuable insights and tips to help you save money. I have extensive knowledge in various concepts related to this article. Let's dive into each concept and explore how you can apply them to your own financial situation.

Coupons and Discount Codes

Using coupons and discount codes is a great way to save money when shopping online or in-store. Apps like RetailMeNot and CouponCabin are excellent resources for finding discounts. Additionally, a simple Google search with the retailer's name and "coupon code" can often yield fruitful results. By taking a few minutes to search for coupons, you can save money on your purchases [[1]].

Saving Spare Change Digitally

Apps like Acorns and Chime offer a convenient way to save spare change digitally. These apps round up your purchases and save the difference. Over time, these small amounts can accumulate into significant savings without you even realizing it. By using these apps, you can effortlessly build up your savings [[2]].

Canceling Unused Subscriptions

Keeping track of your subscriptions and canceling the ones you don't use frequently can help you save money. For example, if you have a gym membership that you rarely use, consider canceling it and exploring free workout videos online instead. By eliminating unnecessary subscriptions, you can allocate those funds towards your savings goals [[3]].

Investing in Insurance

While it may seem counterintuitive to spend money on insurance, it can actually save you money in the long run. Purchasing renter's insurance, pet insurance, or upgrading your health plan can protect you from unforeseen expenses that could be much higher. By paying a bit upfront for insurance, you can avoid financial hardships down the line [[4]].

Grocery Shopping with a List

One of the most effective ways to save money on groceries is to always shop with a list. Meal planning and creating a list before heading to the store can help you avoid impulse purchases and stick to your budget. By planning your meals and shopping strategically, you can significantly reduce your grocery expenses [[5]].

Delaying Online Purchases

Impulse buys often lead to overspending. Instead of making an immediate purchase, consider adding items to your online shopping cart and waiting a day or two before finalizing the purchase. This delay allows you to reflect on whether the purchase is necessary and can help you avoid unnecessary expenses. Some retailers may even send you a discount code to incentivize the purchase [[6]].

Avoid Saving Credit Card Information

When shopping online, it's best to avoid saving your credit card information with retailers. By declining the option to save your credit card details, you create a barrier that forces you to consciously consider each purchase. This can help prevent impulsive buying and encourage more mindful spending habits [[7]].

The 52-Week Money Challenge

The 52-Week Money Challenge is a popular savings method that involves gradually increasing your savings over the course of a year. You start by saving $1 in the first week, $2 in the second week, and so on, until you reach $52 in the final week. By following this challenge, you can save a total of $1,378 in a year. This incremental saving approach helps you build momentum and see your savings grow [[8]].

Negotiating Lower Interest Rates

Contacting your creditors and service providers to negotiate lower interest rates, waive fees, or request discounts can be an effective way to save money. It's worth reaching out to credit card companies, cable providers, and phone companies to see if they can offer you better terms. The worst that can happen is they say no, but you might be surprised by the savings you can achieve [[9]].

Saving Unexpected Lump Sums

When you receive unexpected money, such as tax refunds or birthday cash, consider saving at least half of it. By putting these unexpected lump sums into a savings account, you can build up your savings for future expenses like trips, mortgage payments, or car repairs. It's a great way to make the most of windfalls and ensure they contribute to your financial well-being [[10]].

Bartering and Selling Unused Items

If you have a skill or service to offer, consider bartering with others to save money. Bartering allows you to exchange services or items without spending cash. However, it's important to ensure that you're being compensated fairly for your skills. Additionally, selling unused items online through platforms like Poshmark, Facebook Marketplace, or eBay can generate extra cash that you can use to pay down debt or boost your savings [[11]].

Lowering Utility Bills

Lowering your utility bills can lead to significant savings over time. Simple actions like lowering your thermostat by 7 to 10 degrees for eight hours a day during the winter can save up to 10% on your utility bills annually. Installing a tankless or on-demand water heater can also help you save more. By reducing your utility expenses, you can allocate those savings towards your financial goals [[12]].

Using Spending as a Reward

While saving money is important, it's also essential to enjoy the present and treat yourself occasionally. Consider delaying certain purchases as rewards for meeting your savings goals. By postponing gratification, you give yourself more time to save for that special splurge or treat-yourself item. This approach allows you to strike a balance between saving and enjoying the fruits of your labor [[13]].

Planning for the Future

In addition to short-term savings goals, it's crucial to plan for the future and save for retirement. Setting aside funds for retirement ensures financial security in your later years. If you're unsure about the best retirement savings plan for you, consider consulting a financial adviser or reaching out to your company's HR department for guidance on available retirement savings options [[14]].


By implementing these money-saving strategies, you can make a significant impact on your financial well-being. Whether it's using coupons, canceling unused subscriptions, or negotiating lower interest rates, each concept contributes to your overall savings. Remember, small changes can add up over time, leading to a more secure financial future.

23 Money-Saving Tips You Can Start Trying Today (2024)


What is the 30-day rule? ›

The premise of the 30-day savings rule is straightforward: When faced with the temptation of an impulse purchase, wait 30 days before committing to the buy. During this time, take the opportunity to evaluate the necessity and impact of the purchase on your overall financial goals.

How to save $1,000 fast Dave Ramsey? ›

Financial expert Dave Ramsey has a lot of ideas on the subject, and here are some of the most practical ways to save your first $1,000 quickly.
  1. Cancel Subscriptions. ...
  2. Bring Your Own Lunch. ...
  3. Avoid Coffee Out. ...
  4. Re-Sell Old Items. ...
  5. Shop at Cheaper Grocery Stores With Rewards Programs. ...
  6. Buy Generic. ...
  7. Join a Carpool.
Dec 28, 2023

How can I save $2,000 in 3 months? ›

To save $2,000 in 3 months, you need to calculate how much money you need to set aside each month. First, determine the number of months in 3 months, which is 3. So, mathematically, you will need to save approximately $667 each month to reach your goal of $2,000 in 3 months.

How to save $1,000 in 6 months? ›

Consider these six steps to help you get started and reach your $1,000 goal.
  1. Open a savings account. What's the value in putting your emergency fund in a savings account? ...
  2. Automate. ...
  3. Cut back. ...
  4. Cut out. ...
  5. Don't give up. ...
  6. Work both ends of your budget.
Oct 10, 2023

How should a beginner start saving money? ›

8 simple ways to save money
  1. Record your expenses. The first step to start saving money is figuring out how much you spend. ...
  2. Include saving in your budget. ...
  3. Find ways to cut spending. ...
  4. Determine your financial priorities. ...
  5. Pick the right tools. ...
  6. Make saving automatic.
  7. Watch your savings grow.

What is the wash sale rule? ›

Q: How does the wash sale rule work? If you sell a security at a loss and buy the same or a substantially identical security within 30 calendar days before or after the sale, you won't be able to take a loss for that security on your current-year tax return.

What is the Ramsey method? ›

The Snowball Method refers to paying the smallest debt first, then the next smallest – and on and on until you are living debt free. Ramsey suggests lining up debts “by balance, smallest to largest,” then paying as much of the smallest debt as possible while making minimum payments on the rest.

How do I stop living paycheck to paycheck? ›

How to Stop Living Paycheck to Paycheck
  1. Get on a budget.
  2. Take care of your Four Walls first.
  3. Cut extra expenses.
  4. Start an emergency fund.
  5. Ditch debt.
  6. Increase your income.
  7. Live below your means.
  8. Save up for big purchases.
Oct 12, 2023

How can I save money when broke? ›

Jaspreet Singh: 10 Ways To Save Money When You're Broke
  1. Quit Using Credit Cards. ...
  2. Cook More at Home. ...
  3. Plan Your Meals. ...
  4. Get Smarter About Free Stuff. ...
  5. Switch Your Provider. ...
  6. Visit Your Library. ...
  7. Look Into Refinancing Your Loans. ...
  8. See Which Perks You're Eligible For.
Oct 14, 2023

How much is $1 dollar a day for a year? ›

The answer to that question depends on interest rates or rates of return. With no interest involved, putting one dollar a day into a bank account (or a jar at home) will see you end up with $365 in a year. Multiply that amount by 30 years and you'll end up with $10,950.

How to save $5000 in 3 months with 100 envelopes? ›

The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.

Is 20K in savings good? ›

While $20K may not let you quit your job, it's enough to start building financial security, whether you max out your retirement accounts, invest in fine art, or divide your cash between multiple investments.

How much is the 26 envelope challenge? ›

The 26 week saving challenge - save £1,378

The idea is that you start on week two and save £3 (so that's the £1 from week one, and the £2 from week two), and then in week four, you'll save £7 (week three and four). This may make it harder to follow, but it can help spread out your savings.

What is the $3 a week savings challenge? ›

The plan is refreshingly easy, even for the math-challenged: set aside $3 in the first week and put it into a savings account. Then add another $3 each week after, so $6 is saved in week two, $9 in week three, and so on. By week 26, when the final deposit of $78 is made, the savings will total $1,053.

What is the 1000 emergency fund Dave Ramsey? ›

How Much You Should Have in Your Emergency Savings. Here's a Dave Ramsey principle we agree with: If you make less than $20,000 per year, aim to have at least $500 in emergency savings. If you make more than $20,000, then aim for at least $1,000.

What is the 1 month rule? ›

The purpose of The One Month Rule

If you spend a month thinking about a certain purchase and have discussed it with family/friends that you trust for financial advice (and you still think it is a worthy purchase), you are much less likely to regret your purchase. It helps you make sure the purchase is really worth it.

What is the 30 day money challenge? ›

Do you want to save some money for holiday gifts or other short-term goals? Consider doing the 30-Day $100 Savings Challenge. The goal of the Challenge is simple: save $100 in a 30-day time period through a series of gradually increasing deposits. November has 30 days so every day is a savings day.

What is the rule of 30 investing? ›

The retirement saving 30:30:30:10 rule helps you invest income in an organized manner. It suggests investing 30% of savings into stocks, 30% in bonds, 30% towards real estate, and the remaining 10% in cash and cash equivalents. This gives birth to a balanced financial portfolio.

What is the 90 days rules? ›

The 90-day rule is one measure that USCIS uses to determine whether to grant an applicant's petition. A violation of the rule means they automatically assume you misrepresented or lied when seeking a temporary visa, which makes it less likely that they will grant your request.

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