15 Ways to Start Saving Money Today!

Here are 15 ways to save money today to pay down debt faster, invest more, or treat yourself. Start optimizing your spending with these ideas to build upon your saving techniques. Try 1 or 2 things at a time and stack new habits on top. Soon, you could be investing an extra $100/$200… or even $500 a month!

1. Manage Your Recurring Subscriptions Effortlessly

When was the last time you reviewed your bank statement for those recurring charges that happen every month or year?  Take inventory of all your recurring charges and assess if you really use the service(s) or product(s). Create an action plan to either start to use the services or start to cancel subscriptions.

2. Optimize Your Inbox: Unsubscribe from Mailing Lists

How many daily emails do you receive from stores sharing the latest trend, sale or offer?  Corporate marketing professionals are trained get you to make a purchase.  Unsubscribe from the mailing lists so it’s out of sight, out of mind!  If you really don’t want to unsubscribe, then set up a separate email where all the daily store emails go and make it difficult to access so you only do so you only look at the emails from time to time.      

3. Convenience at Your Fingertips: Order Your Groceries Online

Rather than going into the grocery store (especially hungry), order your groceries online through your local stores website or Instacart.  You are more likely to stick to your list and not make impulse purchases.  Even if you have to pay a delivery fee or tip, it will surely be less than the extra 5 items you pick up and might not even consume!

4. Unlock the Power of Your Local Library Resources

When was the last time you visited your local library?  A lot of local libraries have their own apps that you can use to obtain discounted museum, zoo, etc. passes.  In addition, you can download the Libby app which is an audio/reading book app that you link to your library card.  You can get a library card for free by providing residency in your city/town to enjoy all the apps from home. You also might be able to access free notary services and attend other free events.

5. Avoid Saving Your Credit Card Information on Websites

When you save your credit card information on store websites it makes it very easy to make impulse purchases with a few clicks.  Don’t save your credit card so you have to go get your card to make a purchase. Another useful trick - don't memorize your credit card info!

6. Skip the Drycleaners

If you frequent the dry cleaners to keep your clothes laundered, then you might want to consider doing it at home.  There are good at home dry cleaning kits, like Dryel.  You still might want to bring some things to the professionals but most can be done at home for a lot less money. 

7. Cook With Leftovers in Mind

If you are going through the effort of cooking a nice meal, then you might as well make sure there are enough servings to eat leftovers for lunch the next day!  Save the extra $10 or $15 that you would have spent on lunch and put it into your emergency fund instead!   

8. Discover How to Eliminate PMI from Your Mortgage Payment

If you were not able to put 20% down when you purchased your house, then you are likely paying PMI each month, which can be a significant.  PMI stands for Private Mortgage Insurance, which helps to protect lenders in case you don’t make a mortgage payment.  You can request that the PMI is canceled earlier if you have 20% of equity in your home.  Given recent home values have gone up significantly, then you can have your home reappraised (meaning to determine if your home’s value has gone up) to see if you have 20% equity in it.  You can do a quick sanity check on a real estate website like Zillow to make sure you think you are in the range so you don’t waste the appraisal cost (usually a couple hundred dollars).    

9. Transfer Your Credit Card Debt to a 0% APR Card

If you have credit card debt, then you might want to consider transferring the balance to a new credit card that is offering a promotion for a 0% APR on balance transfers.  You should carefully weigh this option to make sure it's right for you.  There will be a balance transfer fee and there is only a certain amount of time (typically 12-18 months) the interest rate will remain at 0%.  So if you do choose this option you need to make sure you are paying down this debt as fast as possible.  This can be a great way to save in interest payments if done right.

10. Discover Fun and Free Activities for Date Nights and Family Outings

Are you in the dating scene and seeing your bank account dwindle because of date nights?  Do some quick google searches near your town or city to find free local events or ideas.  Need to keep a child entertained?  You can google many activities in your local city or town that are put on for children.  One popular monthly event is the Home Depot Kid Workshops put on the first Saturday each month. 

11. Save Money with Discounted Parking Apps

If you need to find parking a lot, then it’s worthwhile to find a parking app that has discounted parking passes.  One popular and easy to use app is called Spot Hero.  The app is easy to download and utilize to find discounted parking spots.

Bonus Tip: If you work in an expensive city and drive into work some employers offer parking plans where you can contribute pre-tax dollars towards a parking fund to help lower your tax bill.

12. Think Before You Buy: Implementing the 24-Hour Rule for Impulse Purchases

It is quite easy to make quick impulse purchases with all the shopping apps and stored credit card information.  Make a rule for yourself if you see something that you “really want”, then wait 24 hours to see if you still have that strong urge to purchase whatever it is that you wanted 24 hours earlier.  If the urge is still going strong then make the purchase.  If you don't have the urge, then take the money you would have spent and pay down some extra debt or contribute to your emergency fund!

13. Strategic Gift Giving

It’s a wonderful thing to be able to give someone a gift.  However, make sure its something they really want/need (and aren’t going to stick in a closet to collect dust).  Also, don’t be afraid to shop a sale for a gift or even better take someone on an experience instead!  Do you have a nephew/niece/grandchild?  Take them to the aquarium or zoo (using discounted library passes)!  That time together will be priceless and create many memories! 

Bonus Tip: Make a card instead of purchasing!  The personalized touch will be remembered much more than a company generated card and save you $5-$10!

14. Maximize Savings: Buy Big Ticket Items During the Best Sale Period

Start to learn when certain items go on sale throughout the year and try to make the purchase at that time.  For example, a new TV during SuperBowl, mattress on Memorial Day, appliances during Black Friday.  And, every January is a great time to buy all your bedding and linens!

15. Choose Sustainability: Say No to Bottled Water!

Are you still buying bottled water?  Well, stop!  Not only is it bad for the environment, it's bad for your wallet.  Pick yourself up a reusable water bottle (only 1!) and start drinking from filtered water from your fridge or sink!

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