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Want to save money this month? Need to save money this month? We’ve got you covered, friend!
Saving money really falls into two categories:
- decreasing expenses and
- building your savings (instead of just spending the money you saved on something else!).
So we’ll go over ways to decrease your expenses this month and ways to make sure you’re actually saving that money.
Here are 35+ ways to save money this month. By the end of the month, you could be several hundred dollars richer!
Decreasing Expenses
1. Remember: almost everything is negotiable
Try negotiating for a lower price or a free upgrade on everything from that vase with the little crack on the backside to your internet service.
2. Always ask for fees to be waived
See an ATM fee on your bank statement? Call your bank to see if they’ll waive it “just this once”. I’ve even had rewards cards’ annual fees waived simply by calling and asking. One call saved me $70! You have nothing to lose except the fees, so get out there and ask. It’s worth a shot!
Food
3. Brown bag your lunch
Making a turkey sandwich every workday for about $2/serving instead of spending $6 on a turkey sub from a restaurant will save you about $80 this month.
4. Host a game night in instead of club night out
Nights out are stupid expensive! You can hang with your friends (and enjoy better quality time!) by inviting everyone over for $4 Trader Joe’s wine and a game of Cards Against Humanity. If you were going out to meet people, just ask all your guests to bring an outsider to your game night as a way more interesting way to meet people than yelling at them over bar music.
5. Meal plan
Know what you’re having for dinner on Tuesday? Me either. But studies have found that we could both save some money by planning our meals in advance. When you know what you’re going to make, you can make a shopping list. And when you have a shopping list, you’re more likely to buy only what you need instead of a bunch of crap that you may or may not actually use. Less waste and less spending!
6. Get a Crock-Pot
Homemade dinners are so much cheaper than take-out! But what if you hate to cook (can I get an amen?!)? Well then, you need a Crock-Pot. You throw some raw meat and a Campbell’s Slow Cooker Sauce in your Crock-Pot before work, and come home to an inexpensive, delicious dinner. And crock-pots aren’t too expensive. Just a $20-$30 investment to save you money all month, every month!
7. Actually use left-overs
Here’s the trick to using left-overs: use them immediately. Like for breakfast or lunch the next day. Don’t even wait until dinner. The longer you wait, the grosser they look until you end up throwing them out. Just pack them up to take to work for lunch as soon as your meal is over.
8. Eat seasonally
Seasonal produce is always cheaper than out-of-season produce because the supply is higher. Added bonus: you’re getting the freshest fruits and veggies at the lowest price. And you’re mixing things up so you don’t get bored with the same ol’ produce month in and month out.
9. Coupon
I’m not a super-fan of couponing because I don’t have the patience to search out coupons and plan my life around them. But many people do, and they save a ton of money because of it! Try starting slow with the Target coupon app, Cartwheel. Who knows? You may be the next extreme couponer!
10. Use a water filter
I used to spend about $20/month on bottled water. Then my sister-in-law introduced me to the Brita filter pitcher. And now I can drink my tap water and just spend $5 every two months to replace the filter. Thanks, Stacy!
11. Skip convenience
If you’re using vending machines or convenience stores for drinks or snacks, you’re wasting money. But every day at 3:00 you need a bag of trail mix, right? Stock up at the grocery store and pack one in your bag every day to cut your snack habit costs in half.
Utilities
12. Cut your cable
Cable is pretty unnecessary today. Sure, we’re in a golden age of television, but it’s almost all available through cheap sources like Amazon Prime, Hulu, and Netflix. Plus, Amazon Prime comes with some crazy money-savers. Here’s how you can save $80 every month with Amazon Prime.
13. Get a smarter phone plan
If you’re paying over $50 for your cell service, it’s time to start shopping for new options. You probably don’t need the gigs you have available since you’re on WiFi most of the time anyway, right? NerdWallet has done the legwork and rounded up some great, low-cost cell options for you. Oh, and if you see fees on your cell bill, ask for them to be waived!
14. Lower the temp on your water heater
Your water heater probably keeps your water way hotter than you’ll ever need it. Just turn the dial down a touch so your water heater doesn’t need to use so much energy keeping water overly scalding.
15. Cut back on water
Water can be surprisingly expensive. Shorter showers will lower your water costs. And you can really see a difference in your water bill by replacing your grass lawn with drought-tolerant landscaping.
16. And electricity
For goodness’ sake, turn off the lights when you don’t need them! And did you know that every little appliance plugged into the wall draws a small amount of electricity even while it’s turned off? You can avoid these phantom energy leaks by unplugging small appliances and chargers when they’re not in use.
Transportation
17. Avoid parking fees and tolls
Leave the car at home and take public transportation downtown. You don’t have to pay for parking or tolls, you don’t have to worry about designating a driver, and you avoid the wear-and-tear on your car. All around win!
18. Get a gas card
Sign up for a gas card with your fave (least expensive!) gas station to save money on gas.
19. Trade in your car for a less expensive used vehicle
Sounds a little extreme, but this is one of the best ways to save money this month. Vehicles are a money suck that usually just lose value over time. So there’s really no need to drive an expensive car. Stick with a certified, pre-owned vehicle. Ideally, one that lasts a while so you’ll be able to drive it long after you’ve paid it off.
One of the biggest financial mistakes I’ve ever made was buying a new car. We had to sell it at a loss when we moved overseas. And if you’re thinking luxury cars are worth the “investment” because they’ll last longer, make sure you account for the added cost of maintenance and repairs on those cars. Our (certified, pre-owned!) BMW required the most expensive gas, pricey drive-flat tires, and $300 oil changes 😐
Personal Care
20. Cancel the gym
You don’t need a gym to get (or stay) in shape. There are so many videos on YouTube, you can just choose one/day for a totally free workout.
21. Don’t pay full price for clothing, shoes, handbags, luggage, or jewelry
With TJ Maxx and Marshall’s, you never have to pay retail prices to look great. And for a killer bargain, check out Ross for shoes and handbags. You’ll miss the shopping ambience, but you’ll get Guess stilettos for like $30.
22. Just say no to expensive make-up (except maybe foundation!)
Skip Sephora and head to Target. No one can tell if you’re wearing MAC or Maybelline. But, sorry, you probably still need to splurge a bit on foundation. It’s tough to get that just right!
23. Color your own roots this month
Salon color is crazy expensive. And you don’t need it every month. Balayage is super in right now, and grows out really nicely if you just touch-up the roots once/month. So invest in salon balayage now, and do your own root touch ups for the next six months while it grows out. Then head back to the salon for a fresh color just twice/year or so.
24. Find cheap entertainment
Are you taking advantage of the free events in your city? Jarrod and I just spent a great day at the Frankfurt Apple Wine Festival. Total cost for a full day of fun = $5 each for wine tastings. And your local museums probably offer free days once/month. Or you can use Groupon for deep discounts on otherwise-expensive activities like cooking classes or dance lessons.
25. Ditch your consumable habits
Smoking, drinking, and even fancy coffee are all expensive consumable habits. You may love them, but when you’re done, you’re left with nothing but a desire for more. Try giving them up this month to save big money. You can fill the void with tea, which is cheap and healthy 🙂 You’ll be a little healthier, wealthier, and maybe even feel a little better by the end of the month!
Other Household Expenses
26. Cancel unused subscriptions and memberships
The older you get, the more subscriptions and memberships you acquire. And really, how many of those do you need? And am I the only one who forgets I even have some of them? I don’t use them, and my credit card is quietly charged every year. Check your statements and cancel the subscriptions and memberships you aren’t in love with.
27. Sell your excess and get rid of your storage unit
If you have a storage unit, you probably have too much stuff. When was the last time you visited your unit or needed anything from it? Why not sell the stuff in your unit on eBay or in a yard sale to earn a little extra money, then cancel the lease on your unit to save some money this month?
28. DIY gifts
DIY gifts are the best because you know the giver really invested some time, thought, and energy into your gift. And Pinterest is full of DIY gift ideas that even the un-crafty can handle. Just don’t be one of those girls who spends $40 on craft supplies to make a gift you could buy for $20.
29. In fact, DIY everything
DIY-ing isn’t just for gifts. Try doing everything yourself: car washes, lawn care, home repairs, mani/pedi’s. You’ll save a fortune!
30. Stretch your vacation budget
Got a trip coming up this month? Don’t blow all your hard-earned cash on it. There are tons of ways to stretch your vacation budget. Here’s a whole list of ways to save money this month on vacations.
31. Swap services
Maybe your CPA aunt can do your taxes while you walk her dogs? Or your mechanic neighbor could look at your car while you mow her lawn or babysit her kids or something. The options are pretty much endless.
32. Change your insurance
Spend five minutes on Esurance to see if you can get a better car insurance rate than your current provider. We’ve also had great experiences with Geico and Progressive. And when you find a low-cost provider, you can lower your monthly premiums by choosing higher deductibles. You’ll have to pay more out-of-pocket in the event of an accident, but for many of us, the lower premium cost is worth the risk. Especially if you have your emergency fund in order.
Oh, and to our California homeowner friends: if you have earthquake insurance, seriously consider cancelling it! It costs a fortune, it only covers the structure (not the property inside), and the deductibles are crazy high. So even if you’re paying $500/month to have earthquake insurance, you’ll probably have to pay at least $75,000 out-of-pocket before your earthquake coverage will kick in. Sorry, but if there’s a big earthquake, we’re all financially screwed whether or not we have earthquake coverage.
33. Refinance your student loans
Your monthly student loan payments are probably one of your biggest expenses, right after housing and transportation. Refinancing for a better interest rate can save you money every month without extending the term of your debt, so you’ll also save in the long-run.
There are a few things to understand before you refinance your student loans. Here’s our post devoted just to student loan refi’s.
Building Your Savings
So you found some money to save by cutting expenses. Now you just need to make sure you’re actually saving it, not just blowing it on some other expense. Here are our top tips for building your savings.
34. Use your 401(k)
Ignoring your 401(k) is the biggest financial mistake millennials are making. For real, if your company offers a 401(k), jump on it! Like today.
401(k)s are employer-sponsored retirement accounts with some amazing benefits:
- Contributions are automatically transferred to your 401(k) account before you ever get your paycheck, so it’s a fool-proof savings plan. You couldn’t spend that money if you wanted to!
- There are tax benefits. These are pre-tax dollars, so you don’t have to pay income tax on the money going into your 401(k). It will grow tax-free, then you’ll just pay normal income tax on it as you use it for income in retirement.
- Your employer may offer contribution-matching. Many employers will match your 401(k) contributions (like, you contribute a dollar, they contribute a dollar) up to a certain amount or a certain percentage. This is completely free money! Don’t ignore it!
Learn more about retirement accounts, like 401(k)’s.
35. Auto-transfer money to savings and investment accounts
Auto-transfers to savings and investment accounts guarantees that you’ll save money, by taking the money out of your checking account right after pay-day and putting the money where you can’t easily get to it. This forces you to save money without even thinking about it. Love that!
36. Save your change with Acorns
If you use your debit card for everyday purchases, you can accumulate some serious savings without even realizing it by using Acorns. Acorns is a ground-breaking app that rounds your purchases up and drops the spare change into your Acorns investment account. Boom, you’re saving and investing with no time or effort required.
One Last Thing
Most people just throw their savings in a savings account and call it a day, but you’re not most people! You’re the person who’s online, actively looking for ways to save money and improve your finances. So you’re ready to learn the secrets of saving and investment accounts that will make you a fortune! Check out our 3 Accounts You Need to Grow Your Fortune. You’re welcome.
Feel Like Sharing?
Ok, we’re sure we missed some genius ways to save money this month. There’s just so many of them! What are your fave ways to save money that we missed?
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