Looking for a few simple ways to save money? Here’s 30 simple ways to save money.
Saving money isn’t always easy.
For many of us, our budgets already seem pretty tight, and it’s hard to imagine where we’ll be able to find more areas to cut.
If you are looking for a few simple ways to save money, then you’re in the right place! Here are 30 simple ways to save money:
- Make a budget and stick to it.
- Never purchase expensive items on impulse. Think over each expensive purchase for at least 24 hours.
- Limit credit card purchases to those you can pay off in full at the end of the month.
- If you use a debit card, don’t rely on an overdraft feature to spend money you don’t have.
- Take advantage of discounts and/or rewards programs in your local stores and the community.
- Save money by buying items in bulk.
- Bring lunch to work. If buying lunch at work costs $5, then you could save about $500-$1,200 a year.
- Save your loose change. Putting aside $1 a day over the course of a year will allow you to save $365.
- Cancel newspaper and magazine subscriptions.
- Get a receipt for everything you purchase. Stack and review them at the end of the month to see where your money is going.
- Ask your physician to consider prescribing generic drugs.
- Avoid bouncing checks or overdraft fees each month. This saves you around $30-$45 a month.
- Make your monthly credit card payment on time.
- Keep your car engine tuned and its tires inflated to their proper pressure.
- Live relatively near your workplace. If this is not possible, try to walk, bike or take a bus to work.
- Weatherproof your home and save big on unwanted heat or cooling loss.
- When shopping for clothing, look for sales at discount outlets. You may also consider purchasing previously-used clothes from other second-hand stores like Value Village, or school or church thrift sales.
- Use local newspapers and websites to learn about free or low-cost parks, museums, film showings, sports events, and other places which you and your family would enjoy.
- Plan gift-giving well in advance to avoid expensive, last-minute gift shopping.
MORE EASY MONEY-SAVING TIPS
One of the first places people should also be looking to save money is on the big recurring household expenses that we all have every month. Let’s look at a few places you can save:
- Cancel extra cell phone features
Do you really need that 5G data plan? Many people pay for more data than they actually need. One sure-fire way to minimize your data needs is to use Wi-Fi as much as possible. If you make a lot of calls and texts, ditch some data and unnecessary features and opt for an unlimited calling and text plan.
Best tip: take time to shop around and pick a plan that works for you at a lower cost.
- Cut home phone costs
I would say, cancel home phone service altogether in favor of cell phone service only. This will save you at least $300 per year.
If you still need a phone, you can go with internet telephone service instead, which often costs much less.
A couple of years ago we had tried a service called Magic Jack. It was easy to setup, and it only costs about $79/year. That’s a big savings over the $40+/month we were paying before.
Bonus: With Magic Jack you can make free, unlimited local and long distance calling to the U.S. and Canada using your home phone, computer or mobile phone.
- Shop and switch internet service
Try switching your internet service to another provider in order to take advantage of new subscriber deals or promotions.
Switching can often get you great initial deals, and then you can hop providers to get another great deal when the promotion ends. Also consider bundling your services like phone, internet and TV to save.
- Save on TV and entertainment fees
Again, switch cable providers from one to the other to get in on a promotional offer. But the best way is to cut the cord altogether, and save a ton by using streaming services like Netflix, and other free content providers instead.
- Use utilities wisely
There are hundreds of ways to save on your utility bills. Simple things like cleaning your AC condensor coils or changing furnace filters regularly add up.
For Manitoba residents, read this article to learn more about ways of saving energy at home.
- Shop, compare and save on insurance
Take time to shop around to find the best rates on your insurance whether it’s auto, home, life or other types of insurance. You will be surprised at how much money you can save every month.
- Save on gas
Taking a bus or carpooling is still the best way to save on gas. You can also buy at the cheapest local gas station, take advantage of gas coupons via local grocery stores or coops such as the Red River Coop.
You can also use cash back credit or debit cards that can help you save anywhere from 1-10% of gas.
- Property taxes
Sometimes you can appeal your property taxes if you believe the appraisal they’ve given your home is incorrect. We saved several hundred dollars by appealing our property taxes one year.
- Replace mortgage insurance with life insurance
Instead of paying hundreds of dollars a year on mortgage insurance, your best alternative is to apply for your own life insurance coverage.
If you have an existing personal life insurance, discuss any questions you may have with your life insurance advisor to ensure that you have proper coverage and protection.
- Choose a bank that gives back.
Pick a bank that allows you to save more money. Some banks offer no ATM fees, free cheques, high interest on savings accounts, no overdraft fees, and even better interest rates and perks. If your bank doesn’t offer these perks, call them and ask if they will.
- Pay bills online
Try paying you bills online instead of mailing in a check. It can save you $50-60/year, plus it means lesser trips to the bank which saves you time and gas.
Less mail and fewer envelopes to open also means less hassle for you — and less paper waste in the landfills.
I hope you find these tips helpful!
Do you have any simple money-saving tips you would like to share? Please share in the comments below.
Have a great day!