15 Quick Ways to Cut on Spending and Save Hundreds a Month
You may have sensed the growing sentiment that consumer debt is no longer cool. Young people, near-retirees, and Americans of all ages are no longer content to hand over thousands per year in interest payments to Wells Fargo, Capital One, Citi, and Yuri’s Used Auto Lot.
Saving money is easier said than done. Once you’ve said, you need to obliterate your debts and start stacking that retirement fund. It’s time to do it. We have several tips about how you can get started.
1. Fire Your Household Helpers
You’re a decent person. You don’t want to put any added financial strain on the maid or the nice fellas who mow your lawn every other week. You’re not a charity, though, and it’s high time you get out of debt.
For most, a quick vacuuming or Saturday morning behind the push mower is far less costly than paying for a professional to do the job. Spend the $400 on a mower, break out the Clorox and rag, and take care of your home instead of watching that extra episode of The Office for the 24th time.
2. Consider a Roommate or a Downsizing
This is a big ask, and it may not be a sacrifice you’re willing to make. That being said, housing accounts for about 26%of the average American household’s total pay. If there’s one area where a 50% split of costs would create a windfall, it’s your rent or mortgage payment (not to mention utilities and internet if you get a roommate).
Ask yourself if you could do more with less or if there’s a tolerable, psychologically stable friend you wouldn’t mind splitting a living room with. The financial benefits of a little less comfort could be immense.
3. Start Intermittent Fasting
The average American household spends almost $800 a month on food. This accounts for most breakfast, lunch, dinner, and snacks.
Have you heard of intermittent fasting? Not only do followers of the fasting doctrine swear by its health benefits, but the financial benefits of cutting out a meal (or two) daily are obvious. If you’re open to switching up your eating habits, intermittent fasting may be the most excellent antidote to crushing grocery prices.
4. Call Your Insurance Providers and Give Them a Hard Time
Auto insurance prices have risen by 20% on average between June 2023 and June 2024. This is one of countless instances of Americans—speed limit-honoring, red-light-stopping Americans—losing money through no fault.
It’s time to go shopping for better rates. Whether it’s GEICO, Blue Cross, Nationwide, or any other insurance company that takes your business for granted, call them up and demand they do better.
5. Swear Off Food Delivery
You can justify, rationalize, and self-deceive until the cows come home. It won’t change the fact that food delivery is an absolute rip-off that prolongs your insolvency and holds you back from your financial goals.
Not only do you face exorbitant fees on the customer side, but services like Uber Eats often charge restaurants substantial fees too. Your laziness isn’t just hurting you and your family but also the restaurateurs you think you’re supporting. Just go get it, if you can.
6. Take Advantage of Free Trials
The free trial is your cheat code in the age of bottomless streaming platforms. With Netflix and Max bumping their monthly prices ever-higher (and now punishing the frugal customer with ads), you must leap all over that week of free streaming from Apple+.
If you can binge-watch a TV show or consume a handful of worthwhile films before the trial ends, you’ve conned the system without breaking any laws. You’re basically the modern-day John Dillinger; you outlaw you.
7. Buy BOGO in Bulk
When a store offers you a free item, you take it. So long as it’s a product you would have bought anyone (or are willing to swap in for another item that’s not on sale), buy in bulk when you see BOGO.
The pain of stocking up may sting in the short term, but in a month or two, you’ll be glad you took full advantage of the vendor’s charity. This rule applies specifically to non-perishables and freeze-able groceries.
8. Identify More Cost Effective Leisure Activities
Going to the movies every weekend or the weekly date night isn’t incredibly frugal. If you can stomach a weekly hike or backyard barbecue instead of your more costly alternative hobbies, it’s a sustainable way to grow your savings account.
You don’t have to relegate yourself exclusively to free activities. Little steps matter, and a museum and lunch at home are far superior to bowling, a movie, and brunch.
9. Throw Money at Your High-Interest Debt (For Real This Time)
Yes, we’re suggesting that you cut spending by increasing your spending. Not just any spending, though. Spend on the spending you’ve already done—pay the price of being a dirty debtor and pay it down as promptly as possible.
You don’t get any points for paying interest to Citibank (even if you earn points for the initial purchase). Stop doing it, even if it means a bit less breathing room in your checking account for the short term.
10. Become a Youtube-trained handyman (or Woman)
Plumbers, handymen, HVAC specialists, and other professionals who work with their hands demand a premium. They know they can charge a pretty penny because they have tangible skills and because many customers will never give DIY Life a fair shot.
Have you ever tried to fix a leaky toilet or spray for ants on your own? You might be surprised at how effective Professor YouTube is as a teacher.
11. Make Frugality a Competition
It’s no coincidence that those who try to lose weight or cut back on alcohol consumption engage in challenges with like-minded loved ones and pals. Sober October? No-Carb November? Repurpose this self-improvement gamification for saving money.
For instance, you might create an informal competition with your spouse, friends, or kids. Whoever can avoid purchasing non-essential items the longest will win some prize (ironically, money is always a solid incentive) from the others.
12. Get Comfortable Buying Store Brands
If you are committed to buying organic, I can’t blame you. However, the difference between store brand and name brand (pesticides and GMOs aside) may be little more than your ego.
If you choose a well-regarded store brand over a name-brand alternative on a long enough timeline, you may find an extra few hundred dollars in your bank account by year’s end. Invest wisely, and those kinds of savings can be life-changing.
13. Promise Not to Use Amazon for a Month (Except in Emergencies)
Amazon has wreaked havoc on Americans’ disposable income and savings accounts. When you don’t have to pry yourself off the couch, take a shower, and go to the store, it turns out that spending money is a heck of a lot easier.
The Amazon Abstinence Challenge should become a national competition throughout the country. We could all use the motivation to stop handing Jeff Beez our hard-earned Gs.
14. Cut Up Your Credit Cards (Some of Them, At Least)
The odds are that you have several more credit cards than you need. As the balance grows on one card, you probably justify spending money on the card you (finally) got down to zero just a month ago. In other words, you’re a human being.
Stop kidding yourself into thinking you’ll only use your cards in emergencies. Cut up all but a couple of cards, deactivate accounts as necessary, and watch yourself spend more responsibly.
15. Before You Purchase, Sleep On It
Whether you struggle with food, substances, or spending, the “sleep on it” rule is one to live by.
If you think you need to purchase that new gaming console or pursue a spontaneous painting project, take a beat. Sleep on it, review that $5,000 credit card balance, and ask yourself just how essential that purchase is. Impulse is the enemy of financial freedom.
16 Items That Should be Free But Cost a Ton
Living costs a few dollars, a few more dollars than what we’d like to spend. But how should we live a worthwhile life without indulging? I’m not discussing indulging in lavish items like luxury cars or week-long vacations to Switzerland. I’m speaking about spending money on items that should be free. Education, healthcare, public toilet access, and even our own money are expensive today. What else do we yearn to make free yet continue to donate our paycheck to?
16 Items That Should be Free But Cost a Ton
14 Things That You Should Always Buy at Walmart to Save Money
Walmart’s famous slogan, “Save money. Live better.” promises customers an affordable store. A wonderland of a supermarket selling the same products as other stores at reasonable prices. Part of what makes Walmart accountable for its low prices is its dedication to providing generic copies of name-brand items for half the price. Other stores do this, too, but Walmart’s low prices stand out. We’re comparing Walmart’s prices to those of other superstores, such as Target’s prices. This will highlight the discrepancies between the sales prices in the two busy markets.
14 Things That You Should Always Buy at Walmart to Save Money
Saving Money At the Library: 10 Things You Can Get For Free Besides Books
You might think libraries are just about books, but they’re so much more. From free internet access to workshops, movie nights, and even baking tools, you’ll be amazed at the goodies waiting for you.
Saving Money At the Library: 10 Things You Can Get For Free Besides Books
