Looking to save some extra cash? Here are 37 practical money-saving hacks shared by real people with real experiences.
I reached out to my readers and personal finance experts to gather their best money-saving tips. It’s always inspiring to see how creatively people manage their finances. Whether you’re saving for a big purchase, planning early retirement, dealing with a job loss, or just want to cut back on spending, this article has something for everyone.
From getting free houseplants and cutting your own hair to DIY projects and analyzing your expenses, there are countless ways to save money. You’ll also get insights into how these strategies have impacted others. Some tips are simple, while others require a bit more effort, but all are effective.
If you’re serious about saving money, browse through this list and pick a few ideas that resonate with you. Even small changes can make a big difference. Trying out one or two tips might motivate you to adopt more, helping you pay off debt faster, improve financial habits, and reach your goals sooner.
Learning from others’ creative money-saving techniques can be incredibly motivating. And if you’re already savvy with your finances, you’ll see that your methods are perfectly normal. You’ll love the hacks, tips, and strategies in this list, and I can’t wait to hear how you save money each month.
Here are some of the top tips:
1. **Get Free Houseplants**: Join local Facebook plant groups or Buy Nothing groups to get free plants through swaps or giveaways.
2. **Cut Your Own Hair**: Learn to style your hair through YouTube tutorials to save on salon costs.
3. **Contribute to Savings Regularly**: Set up an investment plan like a 401k or IRA and contribute monthly to build wealth.
4. **Invest in a Capsule Wardrobe**: Buy high-quality, timeless clothing pieces to reduce the need for frequent purchases.
5. **Don’t Touch Your Savings**: Set strict rules for your savings account to avoid unnecessary withdrawals.
6. **Wait for Electronics to Break**: Hold off on buying new devices until your current ones are no longer functional.
7. **Use Medical Schools for Health Services**: Save on medical expenses by using services provided by medical, dental, or veterinary schools.
8. **Buy Meat in Bulk**: Purchase meat from local farms in bulk to save money and get better quality.
9. **Meal Prep**: Prepare meals in advance to save money and eat healthier.
10. **Shop for Groceries Online**: Avoid impulse buys and stick to your budget by shopping online.
11. **Shop at the Beginning of the Season**: Buy seasonal items before they are in high demand to get better deals.
12. **Make Homemade Cleaners**: Save money and use safer ingredients by making your own cleaning products.
13. **Cut Unnecessary Spending**: Temporarily reduce spending on non-essentials to save money.
14. **Use the Library and Thrift Stores**: Borrow books and buy games and other items second-hand to save money.
15. **Participate in No-Spend Challenges**: Periodically challenge yourself to avoid spending on anything other than essentials.
16. **Add Snails and Shrimp to Your Fish Tank**: Use these creatures to help maintain your aquarium and reduce cleaning costs.
17. **Carpool**: Share rides with others to save on gas.
18. **Review Your Spending**: Regularly check your expenses to identify and eliminate unnecessary costs.
19. **Plan Meals Around Existing Supplies**: Use what you have at home and buy items on sale to save on groceries.
20. **Dine Out Less**: Cook at home more often to save on restaurant bills.
21. **Eat Simple Meals**: Opt for inexpensive meals like cereal and ramen to cut grocery costs.
22. **Negotiate Monthly Bills**: Call service providers to negotiate lower rates on things like cable, internet, and cell phone bills.
23. **Hide Money from Yourself**: Automatically transfer money into savings or investment accounts to avoid spending it.
24. **Buy Skincare from Private Label Manufacturers**: Purchase directly from manufacturers to save on beauty products.
25. **Try Housesitting**: Stay in homes for free while traveling by housesitting.
26. **Stop Buying Milk**: Cut out or reduce dairy purchases to save money.
27. **Throw Away Junk Mail Immediately**: Avoid temptation by disposing of junk mail before it enters your home.
28. **Limit Amazon Purchases**: Only check out your Amazon cart once a week to avoid impulse buys.
29. **Get Discounted Gift Cards**: Use credit card points or buy discounted gift cards to save on purchases.
30. **Buy ETFs Instead of Mutual Funds**: Save on taxes by choosing ETFs over mutual funds.
31. **Save $200 Monthly in a Mutual Fund**: Consistently save a small amount each month to build wealth over time.
32. **Use Credit Cards Wisely**: Take advantage of rewards and discounts offered by credit cards.
33. **Purchase Discounted Gift Cards on Raise**: Buy gift cards at a discount and combine with other savings strategies.
34. **Restrict Access to Funds**: Use multiple accounts to limit access to your savings.
35. **Save Money While Traveling**: Use house and pet sitting to avoid accommodation costs.
36. **Earn Bonus Money on Your Emergency Fund**: Take advantage of bank promotions to earn extra money on your savings.
37. **Save on Wedding Costs**: Look for non-traditional options and DIY elements to cut wedding expenses.
What do you do to save money? Which of these tips is your favorite?