60 Ways to Save Money (2024)

There are so many ways to save money. Here are 60+ ways to save money this summer, get out of debt and stick some extra cash in your savings account!

60 Ways to Save Money (1)

  1. Get as many free samples as you can through social media, newsletters and on freebie websites and blogs. The stuff you get here prevents you from having to buy it.
  2. Eat smaller portions. The less you eat, the less your grocery bill will be. There are also great grocery money tips to check out to help you save on your grocery bill.
  3. Buy seasonings and spices in bulk. You will pay approximately 75% less for them than if you buy them in packages/jars.
  4. Downgrade your living space and rent somewhere smaller. If you are not renting, where can you downgrade in your home?
  5. Weatherize your home for both warm weather and cooler weather. Air leaks lead to lost energy in both heating and air conditioning.
  6. Cut your own hair and your children’s hair.
  7. Borrow everything you can. This can be tools, books, and movies or anything you can think of! Look in your community for resources and lending libraries. Many communities even have lawn and garden lending libraries, so save your money on purchasing these and borrow instead.
  8. Wash some of your clothing by hand. Delicates, jeans, and rags can often be washed by hand and hung up to dry.
  9. Make your own cleaning supplies. Just do a quick search on Pinterest and you will find many recipes for anything from laundry soap to toilet cleaner.
  10. Use vinegar to clean. It is amazingly versatile and had antibacterial uses. And, it is really cheap!
  11. Buy dry goods for baking in bulk. Don’t pay extra for packaging.
  12. Use coupons whenever it makes sense to do so. You can find these in newspapers, on websites and available to print online.
  13. Find free ways to entertain yourself. The best places to look for free entertainment is your local independent newspaper and the public library.
  14. Maintain your vehicle with regular tune-ups and oil changes.
  15. Carpool to work. If there is not a carpool system formed, make one!
  16. Take your lunch from home. Brown-bagging it can save you hundreds of dollars a year.
  17. Buy your clothing second hand. You would not believe all the name brand clothing in excellent condition at thrift stores.
  18. Create a gift closet. This is an area in your home where you store generic gifts for things like house warming, wedding, children’s birthday parties, and holiday white elephant gifts.
  19. Avoid paying any fees by paying things on time.
  20. Do the 52 Week Money Challenge. By the end of the year, you will have almost $2,000 by just putting away a few dollars each week!
  21. Stop buying convenience food. Many of the things you pay for are simple things you could do yourself with just 5 minutes of your time.
  22. Learn to mend clothing so it lasts longer. If you have no skills, getting things like jeans fixed usually only costs $5 or less. This will save you from having to buy another pair.
  23. Know when to splurge and when to save. Some things really are “you get what you pay for”.
  24. Wash your clothing less frequently. If you only wore it for a couple of hours or used a towel once there is really no need to wash it right away.
  25. Create a price book so you know when a sale is a good one so you can stock up.
  26. Cut off cable. Instead, so a streaming service.
  27. Cloth diaper. While this may not sound initially appealing, you will save hundreds of dollars over the course of your child’s diaper years.
  28. Buy from farmer’s markets. You can often negotiate the price and most of the time, the food is local. This is a great way to get organic at a lower price.
  29. Get regular doctor and dentist checkups. Keeping an eye out for any medical issues before they become expensive problems will not only save your health but your wallet, too.
  30. Send in rebates. It is easy once you get the hand of it.
  31. Wash your car at home.
  32. Utilize leftovers.
  33. Buy cheaper cuts of meat and cook them in your slow cooker. Doing so will tenderize them.
  34. Make your own bread. A homemade loaf can cost as little as a quarter.
  35. Teach your children about responsible money use.
  36. Eat food that is in season.
  37. Don’t automatically buy the larger package. Sometimes, the smaller one is cheaper per unit.
  38. Only make as much food as will be eaten and watch food waste.
  39. Re-use everything you can.
  40. Don’t automatically call an expert to fix your problem. You may be able to do it yourself.
  41. Go meat-free once a week. Doing so can save you up to $10 a week or more!
  42. Drive less often. Walking is not only good for you but good for your car’s wear and tear and your gas tank.
  43. Drink more water. It’s practically free!
  44. Skip eating out as much as possible.
  45. Don’t shop for entertainment. Instead, find something else to occupy your time or set a very strict budget for it.
  46. Sign up for rewards programs. You could save on gas and groceries!
  47. Stock up when you find a good sale. If it is something you use a lot of, get ion the habit of buying at least 6 month’s worth when the sale is good.
  48. Comparison shop. You can do this in-store by just looking online.
  49. Apply for any help you qualify for. WIC, SNAP, and LIEAP is there to help low-income folks make ends meet. If you qualify don’t feel any share about taking the help that is there.
  50. Make lists before you go shopping. You will feel less tempted to do impulse buying.
  51. Plan your meals. Even if you just do it weekly, you will see the savings add up.
  52. Do some gardening. Just growing a little can save you when it comes time to harvest.
  53. Know when the sales cycles are and shop them.
  54. Buy off label medications. They contain the same ingredients as the name brand stuff and in the same formula.
  55. Don’t impulse shop. Practice waiting to buy especially if the purchase is big.
  56. Buy quality furniture. This is one area where you don’t want to go cheap.
  57. Sign up for Amazon Prime. You can get a free 30-day trial and with it comes free 2-day shipping on many products!
  58. Shop discount stores. You never know what you will find.
  59. Buy meat in bulk. If you don’t have the storage space, go in on a bulk purchase with a friend or family member.
  60. Don’t buy disposables items. Use rags instead of paper towels.

60 Ways to Save Money (2)

There are so many other ways that you can save money. I know we just listed 60, but there are hundreds of ways you can save money. If you’re working out in the yard, there are ways to save money Landscaping. Then you can go all hardcore- extreme like and find extreme ways to save money.

If you have teens, they can learn how to save money by reading tips on ways to save money teenagers.

Plus if you have someone going off to college soon, be sure to check out ways to save money college. And for the younger kids, we have great money-saving tips for them too with.

What are some ways that you save money?

60 Ways to Save Money (2024)

FAQs

What is the 60 saving rule? ›

Key Takeaways:

The 60/30/10 budgeting method says you should put 60% of your monthly income toward your needs, 30% towards your wants and 10% towards your savings. It's trending as an alternative to the longer-standing 50/30/20 method. Experts warn that putting just 10% of your income into savings may not be enough.

How to save $5000 in 12 months? ›

Here are eight ways to save $5,000 in a year with small, manageable steps.
  1. “Chunk” Your Savings. ...
  2. Automate Your Savings. ...
  3. Save in a High-Yield Saving Account. ...
  4. Track Your Cash Flow. ...
  5. Boost Your Earnings. ...
  6. Declutter for Cash. ...
  7. Evaluate Your Subscriptions. ...
  8. Challenge Yourself.
May 3, 2024

How to save $1,000 in 6 months? ›

How to save $1,000 in six months
  1. Open a savings account. What's the value in putting your emergency fund in a savings account? ...
  2. Automate. ...
  3. Cut back. ...
  4. Cut out. ...
  5. Don't give up. ...
  6. Work both ends of your budget.
Dec 11, 2015

How to save $10,000 in less than 6 months? ›

How I Saved $10,000 in Six Months
  1. Set goals & practice visualization. ...
  2. Have an abundance mindset. ...
  3. Stop lying to yourself & making excuses. ...
  4. Cut out the excess. ...
  5. Make automatic deposits. ...
  6. Use Mint. ...
  7. Invest in long-term happiness. ...
  8. Use extra money as extra savings, not extra spending.

How to live off $3,000 a month? ›

Tips for Living on 3000 a Month
  1. Maintain a Monthly Budget. ...
  2. Use Low-Risk Investment Accounts. ...
  3. Track Your Monthly Living Expenses. ...
  4. Think! ...
  5. Put On Your Apron and Start Cooking at Home. ...
  6. Look Beyond Walmart & Target to Save Money. ...
  7. Optimize your Credit Card Usage. ...
  8. Avoid Impulse Buying.
Nov 30, 2022

What is the 70 30 savings method? ›

The 70 part of the 70/30 rule refers to what you do with 70% of your net income every month. That means if you receive $6,000 per month, you would take 70% of that, or $4,200, and use that to cover all of your expenses. If you make $3,000 per month, applying the 70% rule, your budget would be $2,100.

What if I save $100 a week for a year? ›

The first thing we need to know is how much $100 per week works out to on an annualized basis. There are 52 weeks in a year. That means that, after a full year of saving, $100 per week adds up to $5,200.

How can I save $100000 fast? ›

7 tips for getting your first $100,000
  1. Figure out how much money you can safely save each month. ...
  2. Automate your savings. ...
  3. Maximize your employer-sponsored savings and investment accounts. ...
  4. Save your tax refunds and work bonuses. ...
  5. Pay off existing debt. ...
  6. Seek a raise or some other way to increase your income.
Jan 2, 2024

How to save $5000 in 3 months with 100 envelopes? ›

The 100-envelope challenge is pretty straightforward: You take 100 envelopes, number each of them and then save the corresponding dollar amount in each envelope. For instance, you put $1 in “Envelope 1,” $2 in “Envelope 2,” and so on. By the end of 100 days, you'll have saved $5,050.

What happens if you save $100 dollars a month for 10 years? ›

How $100 a month can help make you wealthy
If you invest $100 a month for this many years......this is how much you'll end up with.
10$21,037.40
15$41,939.68
20$75,603.00
25$129,818.12
2 more rows
Oct 1, 2023

How to save $100 in 30 days? ›

The goal of the Challenge is simple: save $100 in a 30-day time period through a series of gradually increasing deposits. November has 30 days so every day is a savings day. As shown in the picture below, daily savings deposits start at $1 a day for five days followed by $2, $3, and $4 each for five days.

How to save $1000000 in 30 years? ›

To save a million dollars in 30 years, you'll need to deposit around $850 a month. If you make $50k a year, that's roughly 20% of your pre-tax income. If you can't afford that now then you may want to dissect your expenses to see where you can cut, but if that doesn't work then saving something is better than nothing.

How to save 1k a month? ›

The experts we spoke to recommended taking these steps.
  1. Analyze your finances. If you want to save $1,000 in a month, then you need to earn $1,000 more than what you spend. ...
  2. Plan your meals. ...
  3. Cut subscriptions. ...
  4. Make impulse purchases harder. ...
  5. Sell unneeded items. ...
  6. Find extra work.
Sep 26, 2023

How hard is it to save 10K? ›

To reach $10,000 in one year, you'll need to save $833.33 each month. To break it down even further, you'll need to save $192.31 each week or $27.40 every day. These smaller chunks are much more realistic and simple to comprehend, making it easier to track your progress.

How to save $1000000 in 5 years? ›

Saving a million dollars in five years requires an aggressive savings plan. Suppose you're starting from scratch and have no savings. You'd need to invest around $13,000 per month to save a million dollars in five years, assuming a 7% annual rate of return and 3% inflation rate.

Is it possible to save 60% of your income? ›

That's where we start talking about those 30-40% numbers. Some experts will even suggest saving more than that; fans of the FIRE movement tend to cheer for saving 60-70% of your income. You can do that, of course – but there are many reasons I tend to advocate for the 30-40% range instead.

What is the rule of 60 investment? ›

The 60/40 rule has been widely recognized and recommended by financial advisors and experts for decades. The idea is that over the long haul, stocks have historically provided higher returns, while bonds offer fixed income and can act as a buffer during market downturns.

What is the rule of 60 for retirement? ›

A participant meets the Rule of 60 if his or her age plus full years of service equal at least 60 and he or she either: (i) is at least age 50 with at least five full years of service; or (ii) is under age 50 with at least 20 full years of service.

How much should I have in savings by 60? ›

And by age 60, you should have six to 11 times your salary saved in order to be considered on track for retirement. For example, a 35-year-old earning $60,000 would be on track if she's saved about $60,000 to $90,000.

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