Whether you are on a tight budget or just looking for easy ways to save money around the house or as a student, we have you covered. Use the following easy ways to save money month after month and see your savings grow! After all; a dollar saved is a dollar earned!
Table of Contents
- 1. Analyze where the money is going
- 2. Save on energy costs
- 3. Make a budget and get everyone involved
- 4. Shop smart
- 5. Stay in shape
- 6. Ways to save money on car costs
- 7. Invest smartly
- 8. Save money on the house and around the house
- 9. Save money on telephone bills
- 10. Eat out less
- 11. Adjust your tax withholding
- 12. Kick bad habits
- 13. Dream big
- 14. Differentiate between needs and wants
- 15. De-clutter your home and host a yard sale
- 16. Count your pennies
- 17. Recycle
- 18. Buy generic drugs/cosmetics
- 19. Avoid bank surcharges
- 20. Be a do-it-yourselfer
- 21. Say it loud and clear
- 22. Save on entertainment
- 23. Save on travel
- 24. Baby-money saving tips
- 25. Grow your own food
1. Analyze where the money is going
This is especially one of the easy ways to save money for students on a tight budget. Carry a little memo pad and write down every little expense you make. Take a look at the memo pad every month and determine areas you can save in.
2. Save on energy costs
One of the easiest ways to save money around the house is to do an energy audit every month. See where the energy is getting drained- seal and caulk leaks where possible to prevent cool or hot air from escaping. Use drapes to prevent the sun rays from heating up the interiors. Turn down the thermostat to see huge savings-even 2 degrees down can help you save up to 24 KW per month! Buy appliances having Energy Star rating.
3. Make a budget and get everyone involved
This is one of the easiest ways of saving money around the house for a family. Once you make a fixed monthly budget, make sure everyone sticks to it. A family committed to saving has greater success at doing so.
4. Shop smart
In most families, the monthly grocery shopping is one area where money flows into. So use following tips to save money on grocery bills each month:
- Buy in bulk from discount or wholesale stores. If yours is a small family, you can share the stuff with neighbors or extended family members.
- Clip coupons
- Buy stuff offseason
- Shop online-many online retailers have great discounts and bargain deals. But make sure there are no hidden costs.
- Use the pre-holiday sales
- Shop alone- when you shop with kids or partner/spouse you would be tempted to spend money or give in to their whining.
- Make sure you keep receipts and use rebate coupons
- Do not shop when you are hungry-you will be more likely to buy food you will regret later
- Make and stick to shopping lists.
- Do not pay for added features or bells and whistles that you do not need.
5. Stay in shape
Doctor’s bills can be very high especially when you do not have insurance. You need not pay for expensive health clubs; rather get in shape by walking or jogging in the fresh air. Use the local community pool to swim and if needed, buy inexpensive aerobic videos to workout at home.
6. Ways to save money on car costs
If needed, buy a good quality used car. Make friends with a mechanic who can inspect the car for you. Shop around for used cars and choose the correct make and model known for reliable service. Keep your car tuned and tires checked regularly. If possible, car pool or use local public transportation.Be a safe driver and flaunt it to your insurance company to lower premium. Shop around for insurance to get lower premium each year.
7. Invest smartly
If your employer has a retirement saving plan, do sign up. You can also invest in mutual funds and buy stocks if you know how to. These are easy ways to save money and also make it grow.
8. Save money on the house and around the house
You could create a real estate portfolio or give away a room on rent. If you are living in a rented unit, make sure you negotiate the rent with the landlord. As stated above, use energy audits every month to save money on energy bills. Use fluorescent bulbs, wash clothes once a week and run the dishwasher every other day to save up to $100 per week. Run ceiling fans instead of air conditioners and make sure you insulate the home well to keep out cool/warm air from outside.
9. Save money on telephone bills
If possible, use the Internet to make calls. Always buy your own phone instead of leasing from the company. If you need to make long distance calls, negotiate the rates with your service provider. Even going in for family cell phone plans is one of the easy ways to save money each month for families.
10. Eat out less
Even by simply cutting your eating out at restaurants by once or twice each month, you can save hundreds of dollars per month. Remember, a meal costs at least $15 per person-plus you need to pay a tip! Also take home lunches to work.
11. Adjust your tax withholding
If you have been receiving tax refunds, it means you are paying too much to the government. So talk to your accountant/tax consultant and find out how you can save. You can use the IRS withholding calculator to determine your withholding rate. Then talk to your employer to change the rate on the W-4 form.
12. Kick bad habits
Bad habits like smoking, excessive alcohol, eating out, bingeing on sodas etc can all add up to your monthly costs. Instead, try and quit the habits and see the savings add up.
13. Dream big
This might seem like an odd way of saving money but it is simple and it does work! When you have dreams you are likelier to work towards them and fulfill them. Make sure you talk to your family and loved ones so they too can help utilize these easy ways to save money.
14. Differentiate between needs and wants
Once you are clear between your needs and wants you can reduce purchasing the wants and save big.
15. De-clutter your home and host a yard sale
One man’s trash is another man’s treasure-so go on and use this opportunity to remove unwanted stuff around the house and also make money in the process.
16. Count your pennies
Did you know: the average American has at least $99 worth of pennies and loose change around the house? Yes-this is clearly the easiest ways to save money around the house.
Recycling cans and beer bottles can promote a green lifestyle and also help you save money.
18. Buy generic drugs/cosmetics
If you stay healthy, you won’t need drugs. Just in case you do- make sure you buy generic products which cost much less and give the same results. Many generic brands can help you save as much as 50% on their products.
19. Avoid bank surcharges
Bank surcharges can really add up. ATM withdrawal fees amount to $2.50 on an average per withdrawal. So, as far as possible, use your own bank or credit union card and use ATM card at grocery stores and ask for money back.
20. Be a do-it-yourselfer
As far as possible, do your own stuff- wash your car, build your things, mow and landscape your yard etc. This might not be one of the simple ways to save money but if you can you will really see some big savings.
21. Say it loud and clear
Asking for discounts really works- the key is to ask. For example, mention you are a senior citizen (if you are, that is!) and get senior citizen discounts. Also, let your vet know that Fido was a stray and you picked him up from the street-this can get you discounts on vet trips. Likewise, in every area you can easily save money-make sure you ask always!
22. Save on entertainment
Watch movies at home by picking them for free from the local library. Your tax payer’s money is funding the library-so go ahead and make use of it. Read books and newspapers from the library as well, instead of buying them. If you are a student or a teacher, say it loudly and proudly to get discounts at bookstores.
23. Save on travel
Avoid traveling in peak season when flight and hotels are expensive. Travel in off season and if needed, work with an agent to get the best deals. Tourist spots sell everything at a higher price, so do shop around for things before hand. Look for short term rental accommodations instead of pricey hotels-many homesteads allow you to cook your own meals which works out much cheaper. Do not hesitate to ask for price match with online travel sites-many hotels are willing to do so.
24. Baby-money saving tips
Use reusable diapers instead of disposable ones. Make your own baby food instead of buying it. Breastfeed for as long as you can-it’s free and healthy! Rent your baby furniture from consignment stores-one of the simplest ways to save money on babies.
25. Grow your own food
This is a fun and easy way of saving money, if you have time. Growing organic fruits and veggies can help you save money on grocery. You can even sell the excess stuff. It is also a good idea to buy direct from the local farmer’s market to cut middle men costs.
These are 25 easy ways to save money around the house on a tight budget. Use your creativity and imagination and get into a habit of saving. This way, you will definitely start seeing your savings double up in no time!