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Strapped for cash and trying to save as much money as you can? It's never too late to start saving, so we've rounded up some helpful tips to get you started.
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Here are 50 simple ways you can spend less and save more:
1. Track your spending and set a budget.
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Using a budget is key to figuring out where your money's going and getting on track. If you're not sure where to start, you can always make a simple spreadsheet or try one of these spreadsheet-free budgeting methods.
3. Put a portion of each paycheck into your savings.
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To protect yourself when surprise bills pop up, it's a good idea to have an emergency fund. Experts recommend saving enough to cover three to six months of your expenses. If that sounds like a lot of money right now, focus on saving your first $100, then $500, then $1000 — and keep going from there. Saving takes time, but it's so worth it.
4. Start a change jar and deposit it into your bank account once it's full.
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Or try one of these money saving challenges, like the viral envelope challenge.
5. Or try a savings app like Digit, which makes small, automatic transfers from your checking account into savings.
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Digit uses an algorithm to analyze your spending, then automatically moves money into your savings account — with the goal of making it so you don't even notice that you're saving more.
6. Start a travel fund and contribute a set amount each week. By the time it's full, you can set out on the adventure of your choice.
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And if you love to travel, check out these tips that people say help them save money on vacation.
7. Need to withdraw cash? Use the ATMs associated with your bank or credit union to avoid unnecessary fees.
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Plus, you want to make sure you never go into overdraft to avoid those fees as well. And if your bank charges you monthly maintenance fees, it can be really worth your while to switch to a bank that doesn't.
8. Prioritize paying off any high-interest debt, like a credit card.
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The sooner you pay off your debt, the less interest you'll pay. If you're not sure how to start, check out these tried and true ways that people have paid off their credit cards.
9. Replace take out meals and sit-down restaurants by cooking your own food at home.
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For starters, check out these hearty dinners that cost less than $10 to make.
10. Make a list when you're going to the grocery store to avoid the temptation of buying extras you don't need.
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And check out some food storage hacks that can help keep your groceries fresh.
11. And if your grocery store has a rewards program, be sure to sign up.
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It can take time, but grocery rewards can really add up. For extra credit, try out a rewards app like Ibotta that can send you cash back on your purchases in addition to your store's rewards. It's called ~reward stacking~, and it's a great way to get more out of your daily purchases.
12. Instead of hitting happy hour or grabbing drinks to-go at your local bar, try your hand at being a bartender and craft your own co*cktails.
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From screwdrivers to mojitos, check out this guide to simple homemade co*cktails. Who needs a bar when you have one right at home?
13. And skip the coffee shop and make your own cup of joe at home.
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Like this delightful vanilla iced coffee recipe that helped one BuzzFeeder get through 2020.
14. Plant a garden so you have fresh fruits and veggies in your backyard or fresh herbs on your fire escape.
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First time starting your garden? Check out some tips for beginners to get you started on your green thumb journey.
15. If you head out to work or school each day, pack a lunch as often as you can.
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Need some lunch ideas? Check out these easy lunches you make in ten minutes or less.
16. Head to places like Costco to stock up on staples like laundry soap and toilet paper.
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Buying in bulk can cost more up front, but it helps you save money over time. BTW, you can also go online and order certain products in bulk on Amazon and other sites.
17. Meal prep so you have food for the week and aren't tempted to order out.
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You can meal prep everything from soup to slow cooker meals. Need some recipe ideas? Check out some of our go-to meal prep recipes.
18. Save for your retirement by opening an IRA (individual retirement account).
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If your employer offers a 401(k) plan, it's a good idea to enroll — especially if they'll match your contributions. But it's not the only way to save for retirement. You can also open an individual retirement account or IRA on your own in addition to (or in place of) a 401(k). You can open an IRA through your bank or through an investing app like Acorns.
19. Try your hand at investing to give your money a chance to grow.
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Investing comes with some risk though, so don't invest money that you can't afford to lose. Before you put money in the market, it's a good idea to learn as much about investing as you can (maybe with the help of these books, podcasts, and courses).
20. Going shopping? Hit the sales and clearance sections first to find discounted items.
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Stay up on the latest deals for things you need and track when your favorite stores host major savings events like the Nordstrom Anniversary Sale or Victoria's Secret Semi-Annual Sale.
21. Sell your old clothes, shoes, or purses on an online platform like Poshmark or Facebook Marketplace.
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It's a great way to make cash and helps clear out your closet. If you're looking to get started, check out these tips from a BuzzFeeder who's made thousands selling her clothes on Poshmark.
22. Or host a garage sale to make a few extra dollars.
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You can set your own prices and host it whichever day of the week you'd like. It's a great way to get rid of old clothes, shoes or other household items you no longer have a use for.
23. If you're on a contract phone plan, consider switching plans to save some cash.
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Prepaid phone plans can be waaay cheaper. Mint Mobile, for example, starts at $15 a month.
24. Don't rush into big purchases. Instead, sleep on it overnight to make sure it's what you actually want to buy.
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Whether it's a new jacket or a set of wheels, giving yourself time to think over a purchase will ensure you're making the right decision so you don't end up with a case of buyer's remorse.
25. And if you're sharing finances with a partner, setting some ground rules can really help you stay on track.
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Recently, couples shared how they manage money as a team, and several people said that they use a spending limit rule where they discuss any purchases over a certain dollar amount together. You might also consider agreeing on how much you each contribute to savings each month for shared goals, like a vacation fund or buying a house.
26. Shop at your local thrift store and you might score a good find.
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Thrift stores can be a gold mine and you never know what you end up finding. If you get a little overwhelmed when you're thrifting, try these tips to help you score some quality pieces.
27. Take advantage of the cash back or miles rewards on your credit card if it offers them.
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Making some extra cash on your purchases has never been easier — just make sure to pay off your balance in full every month to avoid paying interest and fees. And if you want to learn more about how credit cards work, keep these credit card tips in mind.
28. And take advantage of rewards programs at stores like Sephora or Ulta so you can make the most of your purchases.
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You'll enjoy cool benefits like special sale events, discounts on your purchases, and freebies for members only.
29. Plus, save even more on your shopping trips when you use coupons or promo codes.
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From 20% off your purchase to free shipping, there's pretty much a promo for everything you could think of. Great way of finding these codes? Use sites like RetailMeNot or add the Honey extension to your browser to get notified about coupons before you hit submit order.
30. Put your bills on autopay so you don't have to worry about a potential late fee for forgetting that one time.
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It'll be a game changer for your finances and you'll never have to sweat that you're missing something. And if you already have your bills on lock, check out some more healthy financial habits.
31. Check out books from your local library if you're an avid reader and want to save on literary costs.
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Or if you love reading on your Kindle, tablet, or phone, see if your library uses an app like Libby to lend out e-books for free.
32. Booking a trip? Track the best time to buy a flight through travel apps like Hopper.
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This free app is a one-stop shop where you book flights, hotels, cars, and more. It's a great tool for travelers wanting to catch the best deal, so make sure to set up Flight Watches if you have a set of dates you're likely going to travel.
33. Compare home or car insurance rates before you renew to make sure you're getting the best price possible.
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It's always good to shop around and find what works best for your budget and situation. And because insurance is tricky, here are some tips on comparing auto insurance and homeowners insurance.
34. If you can, purchase store-brand medications and generic prescriptions.
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Whether it's ibuprofen or allergy meds, there's usually a generic version of most drugstore medications and they'll also tend to run cheaper than the brand-name version.
35. Want to avoid pricey gym memberships and online subscriptions? Set up a home gym where you can get your sweat on or find a safe place in your neighborhood to take a run or walk.
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Plus check out some tips to really rev up your home workouts.
36. Looking to refresh your space? DIY a home project like painting your walls or crafting new cabinets.
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From refreshing your bathroom to stenciling your tile floor, there is no shortage of home projects you can do yourself to redecorate for less. Check out some fun ideas here.
37. Learn how to sew so you can fix old or damaged clothes instead of getting rid of them.
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Don't let a hole ruin your favorite shirt or pair of pants. These useful sewing tips will help your clothes last a lifetime.
38. Or repurpose an old pair of pants and turn them into shorts by cutting them down.
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You can also transform other clothes in your closet into things like pillows, bags and more. It's a great way to get more life out of your textiles and avoid tossing them into the trash.
39. Create homemade gifts from the heart.
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Don't worry if you're not exactly the crafty type. These yummy DIY treats make great gifts too.
40. Install a programmable thermostat to help reduce heating costs.
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There are numerous ones you can choose from including the Google Nest, Honeywell Home, and more. And check out more ways to slash your utility bills here.
41. And don't fall asleep with the lights or TV on.
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If you tend to nod off with the TV on, many televisions come with built-in timers you can set so you don't waste electricity. Plus, making a habit of turning off the lights when you leave a room will help keep your power bill down.
42. Don't want to pay for cable? Choose one streaming service of your choice instead.
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Can't decide between Netflix or Hulu? This quiz might help you out.
43. And evaluate how many subscription services you actually use and cancel the ones you don't frequent as much.
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If you've lost track of all the things you're subscribed to, try a budgeting app like Simplifi, which can show you all your recurring bills. Making a pros and cons list for each service you're paying for can help you narrow down your choices. And if there's one you don't use regularly, you've already got your answer there.
44. Buy items like jackets or bathing suits during the off-season for extra savings.
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It's a great way to get more bang for your buck.
45. If you're not going far (and the weather allows) ride your bicycle to cut down on gas costs.
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Not only is a great way to get active, but you don't have to worry about filling up a gas tank.
46. And depending on your area, public transportation can be a cheap and easy to get around.
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It's not nearly as pricy as buying a car or taking an Uber.
48. And stay on top of your car maintenance to avoid surprise fixes down the road.
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Whether it's changing the oil or rotating your tires, it's always good to stay on track and not skip out when it comes to routine maintenance.
49. If you've got extra time, think about taking on a side hustle.
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Sometimes making more money is the best way to start saving more. For some ideas of ways to start, check out these side hustles that people say are pretty lucrative.
50. Finally, take that extra money you end up saving and treat yourself once in a while for all the hard work you put in. You deserve it!
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Saving money is hard work, so it's important to reward yourself (within your budget, of course) when you reach important goals.
