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Follow These 30 Smart Money Saving Tips To Spend Less

There are more money saving tips than just putting money aside into a savings account or money market account.

Those things are important and shouldn’t be ignored, but the true essence of saving money absolutely lies in spending less.

Read on for everyday money saving tips that will help get you on track to spending less so you can save more.

There’s no denying that money is an essential tool that gets us what we want and need. Although, those wants are usually unnecessary expenditures that can easily be cut.

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Not that this means you shouldn’t have fun – it’s your money and you worked hard for it. Life isn’t just about paying bills after all. But the beautiful thing about saving money is that you can tighten the coin purse a little and still have your cake too.

Here are my top money saving tips to reduce spending in every aspect of your life.

30 Money Saving Tips You Can Apply Today

I’ve broken down the top tips in a few main categories.

Check them all out. You may be surprised when you look at your finances how much money you are simply throwing away.

Saving Money Starts at Home

1. Avoid and unsubscribe

Temptations come in all forms, and online shopping is a big problem for some.

Try to unsubscribe from a few marketing newsletters and limit your visits to your favorite shopping sites. That way you’ll be less likely to buy things impulsively.

Also, remind yourself to not buy what you don’t need and can’t afford. Place a sticky note on your monitor if you must.

2. Maintain your house, car, and appliances

It’s frustrating when something breaks, especially when you have to fork over hundreds of dollars to repair or replace it.

Instead, try to keep up with regular maintenance of your car and house.

It’s much cheaper in the long run to maintain something than having to fix it.

3. Negotiate, negotiate, negotiate

My best money saving tip for the home simply involves paying less for things like bills.

Call around to get the best deals on house and car insurance, and don’t be shy about letting the company know you’ve gotten a better deal – they will try to beat it.

4. Refinance Your Mortgage

Have a look at your mortgage and interest rate.

Refinancing is a good option if you can get your interest rate reduced, which is likely to happen if you’ve been paying on time for years.

Plus, your credit score might be better now than it was back when you applied.

5. Scrimp where you can

We’re often guilty of using more of certain things than we have to.

For instance, the washing powder sold today is extremely concentrated and you only have to use a little to get your clothes clean, usually even less than the packaging suggests.

6. Turn down the heat

Water heaters are almost always warmer than they need to be. The Department of Energy recommends that a water heater should be set to 120 degrees.

Also, if things are too warm in the house, consider closing the blinds or curtains in the room (a very effective method for keeping the heat out) instead of turning on an aircon or fan.

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7. Grow your own

It’s much cheaper to grow your own food and many vegetables and herbs can grow in pots so you don’t even need a big yard to do it.

Entertainment Money Saving Tips

8. Find free activities

When you’re bored, find free activities like going for a hike and bringing a picnic instead of walking around the mall aimlessly and later walking out with a bunch of stuff you didn’t need and a meal at an attached restaurant.

9. Find cheaper alternatives

Things like cable bills can be cut in favor of streaming services.

These are often cheaper and provide the same amount of entertainment.

10. Try hobbies that get cheaper over time

Boardgames, for instance, may seem relatively costly when you initially buy them, but they’re one of the cheapest forms of entertainment.

It’s a one-off expense and you and others can get dozens or even hundreds of hours of fun out of it.

11. Look for discounts

Get the early bird tickets or keep track of your favorite places and see when they have discounts. Theme parks often have seasonal discounts.

Groupon is also still running. If you haven’t heard of this company yet, I suggest you read up on them now.

Money Saving Ideas For Shopping

12. Get crafty

Shopping may be a cathartic experience for some, but getting creative can feel just as fulfilling, and it’s often cheaper too.

You can make your own soaps, gifts, art, and even furniture.

13. Do it at home

Make your own breakfast and coffee at home in the morning instead of stopping for fast food or paying for the cafeteria at work.

14. Write a shopping list

Write down a shopping list (not when you’re hungry!) and stick to it when you go to the store.

That way you won’t impulsively buy treats.

15. Try the store brand

What name brand products do you use that could be replaced with the store brand?

If you hate it, go back to name brand the next month, but if you don’t notice a difference then you can save that much every time you buy.

Start with toiletries (toilet paper, paper towels, kleenex, shampoo, toothpaste, etc.).

16. Use rewards cards

Lots of retailers and shopping centers have rewards cards that you can use to both save money and earn rewards like points or cash.

17. Quality over quantity

People usually think it’s better to buy cheap clothes or furniture but prioritizing quality can be cheaper in the long run.

It’s better to buy more expensive clothes that last for years than having to buy new pieces every season.

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18. Eat out less

Cook more because it’s cheaper and you can reuse ingredients.

Instead of going out with friends, rotate who’s house you go to and make meals together or have everyone bring something.

19. Pick the cheaper option

When you do eat out at restaurants, first scan the menu for the cheapest items and see if they sound good.

You don’t always have to order the cheapest thing, but might as well check it out before jumping right to that $50 steak.

Most restaurants give you so much food that you end up with leftovers. Consider skipping an appetizer/upgraded sides.

Plus alcohol and drinks always have big markups at restaurants and you can save by opting for water (it’s healthier too).

20. Sell & Buy Cheaper Gift Cards

I talked about Cardpool a few years ago, but it’s still going strong, and a good way to save money through gift cards.

The basic premise of the site is that you can sell any gift cards you don’t want to use and, if you want, you can also buy discounted gift cards other people are selling on the site.

Saving on Transportation

21. Carpool

Do any of your co-workers live near you?

You could carpool and save money on gas and put fewer miles on your car for future car repairs.

22. Use public transportation

Public transportation is a cheaper alternative to driving yourself and you can try to find coupons or online deals that make it even cheaper.

Of course, this money-saving tip only works if there’s a reliable public transport system in your area.

23. Walk when things are nearby

Do you drive to places that are close by?

Could you walk or ride your bike?

Bonus – if you get extra exercise like this maybe you can cut your gym membership.

Saving on Healthcare

24. Use generic brands

Try the generic over-the-counter medicine and ask your doctor for generic alternatives when he/she is writing out a prescription.

25. Be healthy

Being healthy means you’ll have to spend less on your health overall through fewer visit to medical professionals.

It can also mean a reduction in your health insurance.

26. Let go of unhealthy habits

Stop smoking.

It’s expensive.

27. Exercise at home

There are plenty of ways to get a workout at home (YouTube can help, depending on what type of workout you want) and forego the expensive gym membership.

Save Money While Traveling

28. Try credit rewards cards

When used correctly, a credit card can be beneficial in more ways than one.

Many credit card companies offer travel rewards cards that collect points you can redeem for either cash or cheaper travel. There are plenty of cards to choose from these days.

29. Try backpacker hotels

Sure you’ll have to share the facilities with a few other people, but if you spend less on accommodation then you can both save and spend more on things like food and attractions.

There are plenty of tips online on how to choose a backpacker hotel and how to stay safe no matter where you are.

30. Make friends in new places

A great thing about the internet is that it’s possible to become friends with anyone anywhere in the world.

Take advantage of that and get a penpal who you can stay with when visiting a new country.

If you’re keen on saving for your next trip in addition to while you’re traveling, you can also check out these 20 ways to save for a vacation.

The Bottom Line

Changing spending habits to save money can be easy if you put your mind to it.

One final tip: Think of time worked instead of dollars spent.

That way, you’ll get a new perspective on spending money. For instance, if you want to buy something for $100, think of how many hours you had to work to afford that thing and then consider whether it’s worth it.

If you have any great money saving tips of your own, share them in the comments!

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