Money saving tips flood the internet, but most don’t work in real life.
Two-thirds of Americans say saving money is a financial goal, but knowing you should save and actually doing it are two completely different things as per my knowledge. I’m 26. Not so young . The average American household now spends $219 per month on subscriptions – $133 more than most people realize.
So this is not another generic “skip your latte” article. Those tips are insulting and useless. Well, most of the time. Instead, I’m going to show you 14 practical ways to save money that actually work, and I personally follow them.
3 Categories of Money Saving Tips That Work
Quick Wins: Easy changes that save $20-50 monthly. Start here for immediate results.
Medium Impact: Requires some effort but saves $50-200 monthly. Do these once quick wins are automatic.
Big Moves: Harder to implement but save $200+ monthly or thousands annually. These are your long-term targets.
I will recommend starting with quick wins. Build confidence. Then tackle bigger stuff.
Quick Money Saving Tips:
1. Cancel Subscriptions You Forgot About
Americans waste $219 monthly on subscriptions, and most don’t even remember half of them. Netflix. Spotify. That meditation app you used twice. The news subscription that auto-renewed.
Action step: Open your bank statements right now. Highlight every recurring charge. Cancel anything you have not used in 30 days.
Potential savings: $50-150/month easily.
I can assure you, If you haven’t used it in a month, you won’t use it next month either. So do not hesitate. If you need any subscription again, this is the easiest work in the word to get it back again.
2. Switch to Store Brands
Name-brand cereal costs $5.49. The store brand sitting right next to it costs $2.99. Same factory. Same ingredients. Different boxes.
This applies to almost everything. paper towels, cleaning supplies, medicine, canned goods, pasta. The average family can save $50-100 monthly just by switching.
Action step: In the next grocery trip, do compare prices. Buy store brand for anything you’d use up in a week anyway.
Potential savings: $50-100/month
3. Use the 24-Hour Rule for Non-Essential Purchases
See something you want? Please wait 24 hours before buying it. Just simply put it in your cart. Close the tab and come back tomorrow.
You’ll be shocked how many things you “needed” yesterday that you don’t care about today. This simple trick stops impulse buying cold.
Action step: Delete shopping apps from your phone if possible. Make buying things slightly more annoying. Friction helps.
Potential savings: I do not know your buying habits.
4. Meal Prep One Day Per Week
Eating out costs $15-25 per meal. Cooking at home costs $4-8 on average. If you eat out for lunch five days a week, that’s $400-500 monthly.
Action step: if possible cook 2-3 meals in bulk every Sunday. Portion them out. Now you have lunch all week for under $30.
Potential savings: $150-300/month
The mistake to avoid: Trying to meal prep every single meal. Start with just lunches. Master that, then add dinners if you want.
Medium Impact Money Saving Tips:
5. Negotiate Your Bills
This tip is not a sure thing. But we can give it a shot. Your internet bill, Phone plan companies are counting on you being too lazy to call. so , call them. Say you’re considering switching for a financial reason. Ask what discounts they can offer.
Action step: Block out 2 hours this week. Call your three biggest recurring bills. Ask for lower rates.
Potential savings: with a good luck $30-100/month
6. Set Up Automatic Savings Transfers
The fun part is you can’t spend money you don’t see. The day your paycheck hits, automatically move money to savings before you can touch it. Cool, right?
Action step: Log into your bank right now. Set up an automatic transfer of $50 (or whatever you can afford) on payday.
Potential savings: $1,000+ annually
Pro tip: Start small. $25 is better than $0. You can always increase it later.
7. Use Cash-Back Apps for Things You Already Buy
Many apps like Rakuten, Ibotta, Fetch Rewards give you money back for shopping you’d do anyway. Groceries, Gas, Online purchases etc. although It’s not life-changing money. But 2-5% back on everything adds up to $200-400 annually without changing your behavior at all.
Action step: Download one cash-back app and Connect it. Use it for your next three purchases.
Potential savings: $200-400/year
8. Drop Your Car Insurance Costs
I saw in real life, most people overpay for car insurance because they never shop around. Get three quotes and you’ll almost always find something cheaper.
Action step: Visit three or four comparison sites. Get quotes. Switch if you find something $20+ cheaper monthly.
Potential savings: $240-600/year
One suggestion from me, avoid Choosing the absolute cheapest with terrible coverage.
9. Cut One Expensive Habit
Now this one is not for everybody. I’m talking about those who have smoking or drinking habits. Well, you don’t have to quit completely today. Cut from seven days to three days per week. Then three to one. The rest is your decision.
Action step: Identify your most expensive recurring habit. Keep the savings visible in a separate account so you see the impact.
Potential savings: $700-1,500/year
Best Money Saving Tips for Big Impact:
10. Refinance High-Interest Debt
If you’re carrying credit card debt at 18-25% interest, you’re hemorrhaging money. A $5,000 balance costs you $900+ annually just in interest. This is a scary dream to me.
Refinance to a personal loan at 8-12%, or transfer to a 0% APR card. Cut your interest payments in half or eliminate them entirely for 12-18 months. This is the most important work of your life now.
Action step: Check your credit score. If it’s 650+, apply for a balance transfer card or personal loan to consolidate high-interest debt.
Potential savings: $500-2,000/year in interest alone
11. Move to a High-Yield Savings Account
As per now, your regular bank probably pays 0.01% interest. High-yield savings accounts pay 4-5% minimum. On $10,000, that’s the difference between earning $1 and earning $400 annually.
Action step: Open a high-yield savings account at Ally, Marcus, or Discover. Move your emergency fund there today.
Potential savings: $300-500/year on a $10,000 balance
12. Stop Paying for Convenience
Services like DoorDash, Grocery delivery, charge 30-50% extra. A $30 meal becomes $45 after fees and tip. Order that three times weekly and you’re paying an extra $1,800 annually for convenience.
Action step: Delete delivery apps. Commit to picking up your own food for 30 days.
Potential savings: $100-300/month
13. Take Advantage of Your 401(k) Match
If your employer matches 401(k) contributions and you’re not maxing the match, you’re literally declining free money. No, I’m not making fun at all. A 3% employer match on a $50,000 salary is $1,500 of free money annually. That’s $125 monthly you’re leaving on the table.
Action step: Check your 401(k) match percentage. Adjust your contribution to get the full match. Even if you have to start at 1% and work your way up.
Potential savings: $1,000-3,000/year in free employer money
14. Try a No-Spend Challenge
Last one. Hold tight. Pick one category. Commit to spending zero dollars on it for 30 days. Restaurants, Clothes, Entertainment or Whatever your weakness is.
Remember, the goal isn’t permanent deprivation. It’s breaking the autopilot spending habit and proving to yourself you can live without it.
Action step: Choose one spending category. Go 30 days without spending on it. Track how much you save.
Potential savings: $100-400 for the month, plus new habits
Why Most Money Saving Tips Fail (And How to Succeed)
Most people try to do everything at once.
Don’t do this.
Pick three tips from this list. Just three. Well maybe four. Master them for 30 days. Then add three more. Slow progress beats no progress every single time.
Putting it all together:
You don’t need a perfect plan. You need a plan you’ll actually follow. Start with one category. Feel the win. Then tackle the next thing.
Thank you for being with me.
Mehrab Musa From Asset Stories Signing Off.
