60+ Money Saving Tips You Can Start Using Today

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We’ve all wasted money at some point in our lives. I know for a fact that I could definitely do a better job at saving more money on energy and food, but then again it’s all a choice. 

Though we may not always be aware we’re wasting money, I was reminded fairly quickly after starting this list that if we just pay a bit more attention to our spending habits and our household budgeting habits, we could save up hundreds of dollars a month. Creating this list – while trying to figure out each different way I’ve saved money over the years – kind of reminded me how easy it can be to just throw away money without realizing it. It also reminded that if you just pay a little bit more attention to how you approach things, you could save quite a bit of money.

“Since Tax Day is approaching, I’ve created a separate article with “18 Secret Tips On How To Maximize Your Tax Deductions“. 

money saving tips

In general, I’d rather focus on making more money. Mainly because I’d rather focus on increasing my living standard by earning more. Then again, there’s nothing wrong with practicing your money saving skills. For this article I’ve decided to list over 60 of my most favorite money saving tips and tricks I’ve learned about so far.

In my daily life I try to save money with every purchase I make. I’m not a penny hoarder, but I don’t like wasting money either. I’ve gotten into the habit of doing extensive research before I buy anything to make sure I know where and when I can find the things I need as cheap as possible. There you go, I just shared my first money saving tip: “Always do extensive research and you may be able to find the thing you want for way less”.

I’ll give you one more GOLDEN MONEY SAVING TIP.

Do you like Apple products? I know I do. Here’s a tip on how you can get free stuff and discounts each time you buy one of their products.

Apple’s Business Account: Apple has a business program. You can only apply for one at one of their physical stores and will only be able to add items to your business account when you buy them at that specific store. Now, there is a threshold of $5000, which is reached very quickly since Apple’s products are pretty expensive. After you’ve reached that $5k, the magic starts happening.

You’ll be able to get free keyboards, mouses, track pads and other apple products or simply a 10% deduction on your purchases. And the good part is, the only thing you need to provide to them in order to open this “business account” is your business name. There is no other info required. No tax info or DUNS number or anything else.

Now let’s have a look at the actual list!

Saving more money can be very beneficial in your daily life. Here are some benefits:

When you save more money…

  • You’ll have a sense of having a financial safety net;
  • You’ll be able to create an emergency fund with the money you save;
  • It can help you retire sooner then you think;
  • It can help you relax a little more without having to worry about financial burdens;

Wether you save 10% of your income or 50%. Every bit can make a difference.

With that being said, let’s have a look at 60+ awesome money saving tips which could save you hundreds and sometimes even thousands of dollars per year in the long run.

Save Money At Home

1. Use a power strip: Power strips will give you the ability to turn off every single device connected to the strip. Unlike leaving each single device plugged in into the wall, you now have the ability to save energy and thus money by turning off the connected devices to the strip after usage.

2. Wash clothes on cold: Washing clothes in cold water is a world wide known rule and tip to reduce the energy usage of the laundry machine. Saving energy means saving more money.

3. Hang your clothes to dry: By hanging your clothes up to dry, you’ll be able to save not only money on electricity you would otherwise spend on your dryer, but also reduce the risk of fire in case of a clogged dryer duct.

4. Use programmable thermostat: Using a programmable thermostat will ensure that the desired temperature will only be obtained while you’re present in the room. It can also be programmed to prevent you from forgetting to turn off the thermostat.

5. Change AC filters: Keeping the air filters clean can lower your AC unit’s electricity usage by 5 percent to 15 percent according to the U.S. Department of Energy. There are several different kinds of air filters for AC units. Central and room AC units typically use washable or disposable filters. Disposable fiberglass filters are the cheapest, but usually the least effective at keeping out dust. Washable filters can be higher in terms of quality, but need a weekly maintenance wash to keep them going.

6. Lower your home temperature: You’ll be able to save energy and money by simply lowering the temperature on your thermostat.

7. Ditch cable: Giving up cable ended up saving me quite of money. If your the type of person who rather watches things on your computer, you may be able to save some money by canceling your cable. I don’t miss it at all.

8. Swap light bulbs: A ton of people have been switching out their light bulbs with energy saving light bulbs to reduce their energy usage. You can simply buy them at specific hardware stores. If you don’t know what to look for, ask for energy saving light bulbs. It will mention it on the label and packaging.

9. Get rid of your landline: More and more people are ditching their landline, only keeping their mobile phones as a contact number. Getting rid of your landline could save you a good amount of money.

10 Bundle your car with your homeowners insurance: This could save you up to 20% and is a trick that not a lot of people are aware of. Contact your insurance company to ask for more information.

11. Negotiate Your Car Insurance Quote: As I’ve mentioned in one of my previous posts, I was able to get a deduction of $140 on my car insurance because I negotiated my quote rather then accepted the quote they gave me. You can always try to do the same thing as there is nothing you would loose from it.

Save Money On Water

12. Take shorter shower: Taking a shorter shower is probably the easiest and fastest way to reduce your water bill, save energy and save money.

13. Use ground water for toilets: At my parents home in Europe, my dad and I have created a system where our toilets will take ground water. We also made sure that we had the ability to switch to regular water if we wanted to. Flushing a toilet wastes a TON of water. By creating a system where the toilets will take ground water from our tank, we’re simply using ground water over and over again. Now, I’m not sure how this would work in California, as they apparently don’t have that much ground water. It’s been 10 years since my dad and I have created this, but if you like more information you could always go to a local plumber or hardware store asking if they know anyone who could help you with this.

14. Time hot water availability: My dad put a timer on our hot water boiler. Because he has timed our boiler to be on when we’re awake, the boiler will turn off when we’re asleep. This ensures there’s no energy usage at night resulting in saving more energy, water and money.

Save Money While Shopping

15. Set a budget and stick to it: Budgeting is still one of the easiest and fastest ways to save money when it comes to grocery shopping. Simply set a budget lower then you are used to, to make sure you can save the desired amount of money.

16. Earn cash back rewards: If you end up buying groceries with your credit card, you could be eligible for cash back rewards which you eventually could use to shop again. Free money through your credit card company! For more info, contact your credit card company.

17. Use coupons: Using coupons is one of the most fun ways to save money. Almost every store has at least one coupon program. Nowadays you can find a coupon for almost anything online. Before I make any purchases online, I always type into Google the name of the store I’m shopping at followed by the word “Coupon”. So if for example I’m shopping on Barnes and Noble’s website, I simply type in Google’s search bar: “Barnes & Noble Coupon”. You may get lucky, so try it out!

18. Buy in bulk: Buying products in bulk is usually cheaper, especially when things are on sale or you can use several coupons on the same product.

19. Freeze meals: Pre-making meals and freezing them afterwards is a good back-up way to make sure you always have something to eat. This will prevent you from eating out more and will end up saving you a lot of money!

20. Take lunch to work: Making your own lunch in the morning to bring to work will end up saving you hundreds of dollars in the long run.

21. Don’t drink soda: You can save a lot of money if you decide to stop drinking soda. Imagine just drinking water each time you go out for dinner. You could save a ton of money if you give up soda.

22. Dine out less: Dining out less and eating more at home is a universal tip to save more money when it comes to eating food.

23. Bring your own grocery bags: Nowadays, quite a lot of stores will charge you 10 cents to purchase a paper bag. A few paper bags each time you go shopping could result into quite some money you spend on grocery bags. Try to leave your own bags in the trunk of your car, so that you’ll have your own bags with you each time you go shopping.

Save Money While Driving

24. Find the cheapest gas station: Via the phone app “Gasbuddy” you can find the cheapest gas station in your area. They aren’t always 100% correct, although the few times I’ve used that app while on vacation, the actual prices always matched the ones mentioned on the app.

25. Drive less offense and more defensive: You know those annoying drivers who are always tailgating you and then switching lanes every 2 seconds? They’re using A LOT of gas while driving reckless. Especially because their engine will be at a higher RPM resulting into using more gas. Driving more defensive will reduce the RPM and will result in your engine needing less gas, meaning saving more money.

26. Drive in higher gears (Lower RPM): This is a strange one, but it will save you money. Driving in higher gears will lower your RPM, resulting in again using less fuel. That’s why I am a fan of driving stick shift. You are the one in control and you can save quite some gas and money by driving more calmly in higher gears.

27. Try to break as less as possible: Braking means you’ve used too much gas. Less breaking means you’re using the appropriate amounts of gas. Sounds pretty straight forward.

28. Oil change yourself: Changing your car oil can be quite challenging, but recently more and more people in my environment have been doing it. You could save yourself some cash by doing it yourself. If you have any trouble figuring out how to change your car’s oil, check out a tutorial video on YouTube. I use YouTube for a lot of things when I’m trying to figure out how to do something.

29. Add car liquids yourself: Adding oil and other liquids to your car is something you can easily do yourself. You can look it up yourself or simply call a mechanic who can give you the rundown quickly.

30. Wash your car at home: Last time I went for an actual carwash, you could buy a cleaning package up to $150 or more. You could save all that money by simply washing your car yourself in your backyard or garage, taking your time and making sure you clean your car thoroughly.

Save Money On Personal Related Topics

31. Reevaluate cell phone carrier provider: Recently I started comparing my phone plan to my girlfriends. I realized we both had different plans yet, the pricing was different in a way which didn’t make sense to me. I decided to call my provider and ask for more information. I ended up changing my plan and am now saving up to $50 a month.

32. Check your data usage weekly to make sure you stay within your plan: It’s easy to loose track of your data usage. Try to instal your provider’s app on your phone so you can check your data usage weekly and in case you are approaching the end of your data usage you can limit your usage to prevent paying extra for just a few days at the end of your cycle.

33. Reduce IRA fees: You could save up to $100k during saving for your retirement by getting rid of hidden IRA fees. A lot of people don’t even know if they have any fees. Make sure you know exactly where your money is going to, who takes a cut and how you could cut some of those fees.

34. Say no to overdraft protection: Overdraft protection is an ugly thing. If you go below 0 on your debit card and forget to pay your balance at the end of the day, the bank may charge you a $30 overdraft fee. If you say no to overdraft protection you’ll be able to make sure that fee doesn’t apply to you.

35. Create a family budget: Creating a family budget will take some time, but it’s the perfect way to know what your expenses will be and how much money will go to what event. When you figure out what your expenses are, it’ll give you an overview and show you where you cut could your budget to save some extra money.

36. Quite Smoking: Although not a lot of people smoke anymore these days, you could save a ton of money if you do still smoke by quitting. A pack nowadays cost around $5 and sometimes even more. Imagine how much money you could save if you decide to stop smoking.

37. Go out less: Going out can be very relaxing and a good release after an intense week. But do you really have to go out EVERY week? Multiple times a week? Save money by reducing the times you go out.

38. Eat out less: Eating out less can reduce your cost by a lot, which could save you hundreds and sometimes thousands a dollars a year.

39. Buy less snacks: We all like snacks, cookies, you name it. You can save quite some money by reducing your snack purchasing habits. I know I love snacks, but still try to stick to an extremely low budget when it comes to buying snacks.

40. Buy less beer: Yup, you can save a ton of money by simply buying less beer or other alcoholic beverages. Drinking beer does more harm then good to your body anyways. Don’t get me wrong, I love beer. I’ll probably drink a pint a month, sometimes 2. But buying beer is simply not worth the money for me.

Save Money On Taxes

41. Self-employment deductions: Self-employment is the paradise of tax deductions. You can save tons of money when your self-employed, unlike working for an employer which has many deduction restrictions.

42. Car mileage: When you’re self-employed you can deduct a ton of car miles. Just make sure to keep track of your trips and destinations. Keep track of your receipts so it’ll be easy to add up all your deductions in April.

43. Entertainment while taking clients out: If self-employed, you are able to deduct all of your entertainment expenses when you are taking clients out. This because those events are business related and needed for you to establish your self employment relationships and possible work offers.

44. Meals and travel business related: All of your meals and travel arrangement which are related to your self-employment business can be deducted from your tax statement.

45. Business gifts: If you ever purchase gifts for clients or business related relationships, you’ll be able to deduct those expenses from your taxes.

46. License Fee Car Registration: You’ll be able to deduct only your license fee from your taxes.

47. Car gas: Keep track of all of your gas receipts related to work and time invested in building relationships work related. You can be creative here. All of these expenses can be deducted from taxes.

48. Car maintenance: All of your maintenance done to your car could be eligible for a tax deduction.

49. Having kids: Simply having kids will make you eligible for a specific tax deduction dedicated to parents.

50. Medical expenses: Your medical expenses need to be over a certain percentage related to your income for it to make a difference and tax deductible. A few years ago the percentage ratio was 7.5%. I recently heard it went up to almost 10%. If that’s the case and you made 100k you will only be eligible for tax deductions starting after the first $10k expenses. So basically you need to have a pretty bad year for it to count. The more you make, the less likely you’ll be able to write anything off. However if you’re really poor or don’t make that much money at all, you could really use this deduction if something really bad happens.

51. Charity deduction: All of your charity donations can be tax deductible.

52. Tax preparation deduction: All of the fees and expenses related to your tax preparation work could be tax deductible.

53. Attorney fees related to work: Any attorney fees related to work could be eligible for a tax deduction.

54. Child support & Alimony deduction: This is a weird rule/law, but you could be eligible for a tax deduction on your child support expenses.

55. Teacher expenses write off: School supplies and any other expenses made by a teacher could be tax deductible.

56. Job related Moving expenses: Any expenses made because of job relocation can be deducted from taxes.

57. Owning home: Interest on your mortgage could count for a tax deduction.

58. Property tax deduction: You’ll have to look into this a little more, but some people are eligible for a property tax deduction which could save you money.

Save Money While Traveling

59. Credit Card Rewards Points For Hotels: Again as with shopping, rewards points could be used towards renting a hotel room for a few nights.

60. Car Rental Insurance Opt-Out: Some credit cards such as Amex Platinum offer additional car rental insurance. You could save money by opting out of the rental companies rental insurance simply because your credit card company will coffer it.

61. Use Credit Card Points for flights: As with shopping, hotels and renting cars, you could save money by using rewards points for your flight.

Save Money While Eating Out

62. Find give-aways on Yelp: Some restaurants will give out free drinks if you find them through Yelp. Sometimes it’s as simple as checking in and clicking on “Claim Your Dish/Drink”. I’ve had two times already where I’ve received a free drink.

63. Go during happy hour: Happy hour could save you tons of money. I’ve recently started paying a lot of attention to which of our favorite restaurants have happy hours Money Saving Tipsand if they have some, what their times are. Each time my girlfriend says she wants to go out, I’ll know exactly what place is doing their happy hour for how long. Definitely recommend this one.

There you have it. Over 60 awesome money saving tips. I think I’ll keep updating this article with more tips as time goes on, but for now enjoy these! Stay tuned for more!

If you liked these tips, go ahead and check out my “18 Secret Tips On How To Maximize Your Tax Deductions“. 

In case you are interested in starting your own blog, feel free to check out my FREE “How To Start A Blog” step-by-step tutorial where you’ll also have access to my Bluehost discount link, which will not only allow you to get hosting at a discount, but will also provide you with a FREE domain!

 

  1. Nice post Peter. It’s like an ultimate list. I’m surprised you had the time to do it with the new baby 🙂 I was afraid you were going on haitus or something. Glad to see that’s not the case.

    1. Haha, I started this list/post probably a month ago. At the moment I probably have about 10 unfinished posts. The kind of articles you start writing because you’re excited about them, but never finish because you think they’re never good enough. So I’ve just been slowly trying to finish them up one by one.

      For now, our daughter is still in the NICU. She was born a bit too early and had to be taught how to eat properly, which is taking some time. Hence the reason I still have time on my hands to write. I visit her at the hospital every day and bring my laptop with me to write. The real shock will probably hit me when she’s finally home. So I’m trying to get as much done while I can. Hopefully I can finish up a good amount of posts before she’s ready for discharge, so I’ll have something to work with when I have my hands full. Even then, I love blogging so much that I’ll make time for it. I’ll have to find a good balance :-).

  2. Great tips Peter. Out of this list eating out less has helped us so much. Anyway, where is your social media? I went to both your about and contact pages and you don’t have any social media.

    1. Hi Jaime! Thank you for the nice comment! Eating out less does do miracles to the budget! As far as social media goes… I do see I haven’t mentioned it anywhere on the site. I just realized I forgot to add the links after I last switched to a new design. Let me add the links right now and you should see them shortly.

      Thanks for stopping by!

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