50 Ways To Save Money Fast (2024)

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There are so many tips on how to save money everywhere online.

Whether your goal is to save money for retirement or to prepare for a recession, these money saving tips are simple things that just work no matter what.

I’m sure your grandma told you many horrifying stories about the Great Depression and taught you a thing or two about frugal living.

Your grandparents truly understand how it feels to go through the lowest times, so don’t neglect their teachings about money – it’s always good to prepare for the worst-case scenario despite how rosy things seem to be!

While there’s no easiest way to save money, everyone has their own way of saving money and there is no right or wrong way of doing it.

You can save money by pinching pennies or you can save big looking for strategies that give you the most return.

Either way, you’re still saving money and it’s a good start. So no matter how small or big the impact is in your bank account, the most important part is you’re making an effort to save for the rainy days. You’ll just never know when unexpected emergencies pop up or when the next recession comes.

When you’re in a ton of debt or living paycheck to paycheck, it can feel hard to get started.

But don’t let these setbacks get in your way of developing a smart savings plan today.

All it takes is that first baby step to gain momentum and get things moving in your favor. With patience and a few lifestyle changes, you’ll become a smart money saver and on track with reaching financial independence!

How to Save Money

After discovering that 58% of Americans have less than $1,000 in their savings account, I created this timeless and step-by-step guide for how to save money fast to help you create a simple and effective savings strategy.

This is an ultimate guide to saving money and they will never go out of style.

There may be a few new and different ways to save money today thanks to advanced technology, but some of these are old fashioned lessons that were adopted from our grandparents’ generation. No matter your income level, these saving tips are very realistic and anyone can do them.

I have to admit that these won’t be life-changing unless you actually put the effort to do them.

This is a very long list so it may feel overwhelming for beginners, but I don’t expect you to do all of them.

Even starting with just 10 to 15 tips from this list could help you save $1,000 fast. You could even see a savings of several thousands of dollars when you ditch the bad habits and change your lifestyle.

Of course the more you implement from this list the more money you’ll save each month.

Now, let’s dive into the “best ways to save money” list so you can save for all your short- and long-term savings goals.

💡 FREE MONEY TIP: Before we take a look at this ultimate guide to saving money, I want to mention about a free resource I like to use because it helps me save money and reduce my expenses each month.

This free money-saving app called Swagbucks allows you to earn FREE gift cards to the places you normally buy things from. You can earn free Amazon, Walmart, Target and many more gift cards just by surfing the web, watching videos, taking easy surveys and playing games online – things you normally do every day!

For example, I chose a free $100 Amazon gift card so I could redeem an Instant Pot and other kitchen utensils. This allowed me to cook fast and healthy meals at home to save more money!

I’ve been using Swagbucks for over 10 years because it helps me save money by getting things for free.

Sign up for Swagbucks here for FREE and start earning free gift cards instantly so you can save money and get the things you love for free! You’ll even get a $5 welcome bonus just for signing up today!

🔔 Reminder: Verify the e-mail from Swagbucks in your inbox after signing up to claim your FREE $5!

How to save money from your salary

1. Create a budget that works for you

Like many, I have a strong aversion to traditional budgeting, which often feels restrictive and tedious, akin to relentless penny-pinching or exhaustive oversight of every expense. The effectiveness of a budgeting approach is highly personal, aligning with one’s unique temperament and financial habits.

For me, the meticulous tracking of every transaction and scrutinizing the minutiae of my spending, although beneficial when initially assessing financial habits, eventually proved to be both overwhelming and time-consuming.

This realization led me to adopt a different strategy, one that aligns more closely with my lifestyle and preferences: the reverse-budgeting method coupled with the automation of finances. This approach minimizes the need for constant, detailed monitoring of expenditures, offering a more streamlined and less intrusive way to manage money effectively.

2. Automate your finances

Despite my aversion to traditional budgeting, I’ve found a balance that works for me by adopting a more flexible approach to managing my finances. Each month, I harness the power of automation to allocate funds directly into my savings, simultaneously keeping an eye on my overall spending without obsessing over every detail. This method proves that meticulous penny tracking isn’t mandatory for effective financial management.

What resonates with me is the strategy of automatically saving at least 20% of my net income, effortlessly contributing to my savings account. This approach not only simplifies the saving process but also ensures that I’m consistently building my financial reserves. By focusing on broader financial goals rather than the minutiae of daily expenses, I maintain a healthy financial outlook and avoid the burnout associated with traditional budgeting methods. This higher-level monitoring, coupled with automated savings, strikes the perfect balance between discipline and flexibility, offering a sustainable path to financial well-being without the stress of micromanagement.

3. Save 10% to 15% of your after-tax income for retirement

According to financial experts, it is recommended to save 10% to 15% of your pre-tax salary for retirement, especially for beginners who are starting from scratch.

This is a good place to start but keep in mind that this number is only general advice. You can adjust your savings rate depending on your financial situation and your future plans.

4. Take advantage of free money from your employer

As mentioned, saving up to 15% of your paycheck is a great start. Fortunately, this recommended number includes savings in your employer matching plan.

If you haven’t taken advantage of your employer matching plan for retirement, then it’s time to start. This is free money you can’t afford to miss out on!

With matching benefits in place, you’ll have a much easier time saving money aside for other things like vacation, wedding, your first home, and other essentials for everyday living.

5. Create sub-savings accounts

Of course, the more you can save without having to scrimp on your current lifestyle, the better.
Aside from retirement, savings for your other life purposes like a wedding, house down payment, vacation, Christmas fund, etc. can also be automated by creating multiple “sub-savings” accounts as long as your bank has the feature.

Come up with realistic goals that will allow you to hit your desired target for each desired sub-savings account.

By automating your savings with a realistic plan, you won’t have to rely on a manual tracking or budgeting system that may make you go nuts and quit.

General tips on how to save money each month

6. Save for an emergency fund

Knock on wood, but it’s important to save money for an emergency fund in case of a job loss, medical bill, car troubles, unexpected home repairs, or any unplanned for expenses.

Saving money isn’t as simple as most people make it sound, but with a little bit of effort on your part, it will be less painful when an actual emergency hits you.

7. Use the 30 day rule

Do you want to say goodbye to being broke and stop spending money on unnecessary things?

Try using the 30 day savings rule to restrain yourself from buying more stuff.

How this rule works is you deposit that money in your savings account. When you buy on impulse it’s unplanned for so go home or log off Amazon and let it sit for 30 days. If you’re not thinking about that product again, that means you don’t really need it or want it.

Out of sight, out of mind. You’ll save money without noticing.

However, if you still think about the item, then go ahead and buy it. If it’s always on your mind, then it’s money worth spending on.

8. Practice gratitude and you’ll stop overspending

While you’re assessing all the unnecessary stuff you’ve bought, it helps to practice gratitude every day. You’ll appreciate what you have and you won’t feel the sudden urge or rush to spend.

Whenever I’m feeling down, I think about what I have instead of what I don’t have.

Studies have shown that being grateful for what you have will make you happier. It also won’t fool your mind into thinking you need more and more things to feel a sense of fulfillment.

9. Make extra money on the side (and bank those into your savings)

Along with practicing gratitude and putting a stop to collecting unnecessary things, you may want to consider making extra money in your spare time.

What better way than to sell the things you don’t use or need for some extra cash!

Arrange a garage sale or post a picture on sites like eBay in exchange for money. This could add up to hundreds or even thousands of dollars which could go towards one of your savings funds.

💵 Do you want to make extra money now?

I recommend taking fun and easy surveys during your spare time to earn an extra $100 a month. That’s like an additional savings of $100 a month!

I personally love using Survey Junkie on my smartphone because I get paid just to answer simple questions in my spare time.

For example, I was asked questions like which restaurants do I like to go to and what appetizers, drinks and meals I like to order. I was also once asked which designer clothes and bags I like to buy, along with what I like or didn’t like about the last item I purchased.

Sign up for Survey Junkie here (joining is FREE) and you could earn as high as $45 per survey! It only requires your e-mail to start earning cash immediately! It’s a free way to earn extra money online. 💻

10. Earn additional cash by taking surveys

Aside from selling your junk for money, there are many different ways you could make extra cash on the side.

That includes taking online surveys for money. They’re all free to join so you may want to consider learning more about the best survey sites to try today.

By taking surveys, you could earn extra money or FREE gift cards to help reduce your expenses at the stores you love to shop at!

How to Save Money on Groceries and Food

11. Turn your grocery receipts into cash!

Another added bonus is getting FREE money on your purchases at grocery stores, fast food joints, and restaurants.

I recommend using FREE money-saving resources like Fetch Rewards to get cashback just by uploading your receipts via your smartphone.

Fetch works directly with popular brands to help you save on thousands of your favorite products every day, no matter where you get your groceries. Just scan your receipts and they will do all the work for you!

Sign up for Fetch Rewards HERE and save money on your groceries every day. It’s fast and easy to become a member. You’ll also receive 4,000 welcome bonus points for using this special code APREWARDS. Did I also mention that it’s absolutely FREE to use? 🙂

12. Avoid convenience, junk, and fast food

Takeouts, Uber Eats, and delivery can add up to a significant amount each year. In addition to that, it’s not good for your health.

Reduce your waistline and spending by avoiding fast food and cooking your own meals at home.

13. Meal plan to save money on food and save over $5,000!

Speaking of cooking your own meals, you can save time by meal planning at home.

In fact, you’d be surprised by how much money you can save when you shift your habits from eating out almost every day to meal planning at home. On top of that, you’ll be eating A LOT healthier too which reduces your medical bill in the long run.

I used to spend a lot of money eating out because I didn’t have time to cook. I honestly wanted to vomit when I realized how much I was spending on food and groceries each year.

However, I now use this healthy grocery list and the$5 meal plan to help my family save over $10,000 on food costs each year. The best part is I’m still able to eat healthy with a few organic choices while spending WAY less than I used to.

MEAL PLAN SOLUTION: If you want to save thousands of dollars on food, then consider joining this $5 Meal Plan. For only $5 a month, they will send you delicious and healthy weekly meal plans straight to your inbox helping you save time and money on food.

Each meal works out to be $2 per person. They even have gluten-free options available!

Once I stopped eating out frequently and started meal planning at home, my family saved over $10,000 each year!

You’ll even get a FREE 14-day risk-free trial when you join here. They are serious about customer satisfaction, so for any reason, if meal planning is not right for you, then cancel anytime with absolutely NO questions asked. You’ll even get to keep your trial version for free after you decide to cancel your plan. 🙂

Related post on how to save money: 15 Cheap Healthy Meals That are Delicious ($2 Per Person)

14. Bring your own lunch and save almost $3,000!

Food costs vary based on where you live, but it’s conservative to say that a typical decent lunch combo goes for $10 to $12 today.

Imagine spending $10 each day on lunch. When you add the numbers up, that comes out to be a total of $300 each month. That’s over $2,600 per year!

Now, if you pack your lunch, and let’s assume you are using this meal plan, each lunch will cost on average $2 per person. You’d be spending only $60 each month on lunches. That’s $720 for the year.

Here are your results on savings.

Assuming the scenario where you pack your lunch every day, you’d see a lunch savings of $2,880 per year.

Remember, this is just lunch savings alone, so imagine how much more you’d save when you consider breakfast and dinner – likely AT LEAST $5,000 per year in savings plus get healthy delicious meals that make you feel great!

Of course, I’m not recommending you bring lunch every single day. It’s important to treat yourself on occasions, but you can do the math and see how much money you’d save just by making a healthy habit to avoid takeouts, fast food and dining out!

💡 LUNCH SAVINGS TIP: I recommend using these safe-to-use lunch packs. They are BPA free and great for long-term use! It’s what I use to pack my lunches to work!

15. Buy generic (only when it makes sense to)

You always hear that buying everything generic will save you money. This may or may not be true depending on a few factors.

Generally speaking, yes, buying generic compared to brand name can save you a ton of money each year (we’re talking about up to $3,000 per year). That’s also assuming you don’t put in the effort to find deals or coupons for brand name items.

But if you can buy your favorite brand name item on sale and if you have a stackable coupon, you could actually save more than your regular generic product.

Keeping that in mind, you may want to go generic on foods that don’t matter to you as much and find ways to save money on the brands you love and prefer via couponing, store promos, price match, and cashback apps.

16. Price match

Another way to save money on food is to do a price match at participating groceries. Most stores that guarantee the lowest price will allow price matching. This can save both money and time since you’re price matching most of your groceries at one shop.

I save over $2,000 per year just by shopping deals, using coupons, and doing a simple price match every week when I go grocery shopping.

If saving money is on the way and not a hassle, then why not?

17. Make a grocery list and stick to it

You’ll save both time and money when you make a list and stick to it. You won’t get frustrated or try to remember what you need when you’re actually at the grocery store. This will also save you from buying items based impulse and emotion.

18. Don’t shop on a hungry stomach

Ever heard of the “big eye small stomach” syndrome?

When you’re hungry, your eyes will light up to all the delicious food you see, but the reality is your stomach can’t take it.

This causes you to overbuy and all that food may end going to waste because you can’t really consume it all.

How to Save Big Money on Your Daily Purchases and Shopping

19. Set a monthly budget for each category

Whether you’re shopping for groceries, clothes, beauty, personal care, or random splurges, it always helps when you know where your money is going each month.

Having that said, you’ll want to set a monthly budget for each category to get a better picture of your spending habits so you don’t go out of control with your spending.

20. Create a budget with a sub-savings fund called “EFF IT”

What I like doing is setting aside a fund that allows me to splurge on whatever I like. I call it my “EFF IT” or “YOLO” fund.

I really dislike strict budgets so this fund helps me stay within budget without going nuts. Once it’s done for the month, it’s done and I wait until next month for it to reset.

💡 SAVINGS TIP: You can use these timeless and popular mason jars in a set of 4 and insert labels on them so you have a goal of what you’re saving for. For example, you can set one jar called the “My Favorite Restaurant” for your dining out expense and another jar called the “YOLO” fund that allows you to spend in on whatever you like.

21. Save money with Amazon Prime

If you shop online and buy from Amazon, consider investing in an Amazon Prime membership to save money.

What’s included in Amazon Prime?

• Super-fast delivery, even for groceries, with flexible delivery options to fit your life. Plus, Prime members get FREE One-Day Delivery on millions of items.
• Watch exclusive Amazon Originals and thousands of popular movies and TV shows—all at no extra cost. Watch at home or on the go with practically any device.
• Stream over 2 million songs ad free, listen on any Echo device, and take your music anywhere with offline listening.
• Enjoy early access to deals, Prime exclusive brands, and savings.

⭐ You can learn more about Amazon Prime and actually get a 30-day FREE trial here. You can cancel at any time with no questions asked!

22. Use Swagbucks to get free $50 Amazon gift cards

Speaking of saving money on Amazon purchases, did you know you could save even MORE money when you use free resources to earn FREE Amazon gift cards?

I love to use Swagbucks because it’s free and it’s my secret weapon to getting things I love for FREE like Amazon, Sephora, and Starbucks gift cards.

This helps me save money and reduce my expenses each month on things I actually buy and use.

How it works is you earn just by surfing the web (like what you’re doing now), answering quick and easy survey questions, playing games online, and watching video trailers – these are things you normally do on a daily basis, so you may as well earn free gift cards with them.

This is pretty awesome because I can redeem a FREE $50 Amazon gift card right now when I log into my Swagbucks account:

I’m a very content and happy user of Swagbucks! They are legitimate and have paid out over $300 million in cash and gift cards to help people like you who want to save money!

EARN FREE GIFT CARDS AND SAVE BIG! I recommend you to sign up for Swagbucks here. It’s totally FREE and you’ll even get a $5 sign up bonus!

🔔 Be sure to verify the e-mail from Swagbucks in your inbox so you can claim your $5 bonus and start earning the free gift cards you want. It’s such a great way to save money each month!

23. Save money with cashback credit cards

If you’re in credit card debt or living paycheck to paycheck, then I don’t recommend using credit cards. Instead use an envelope cash system to help you curb your spending.

However, if you can control your spending and you’re not addicted to shopping, then consider taking advantage of rewards and cashback credit cards.

I love using credit cards that offer perks because it helps me save at least $1,000 each year. I also like the fact I can use them to stack on top of store promos, coupons, and other discounts to save extra money.

24. Avoid credit card debt by paying back full payment each month

To reap the full benefits of credit card rewards, make sure you ALWAYS pay back the balance in FULL every month.

Don’t spend more just to “save more”. You’ll save money on high interest rates and stuff you didn’t need in the first place.

Only spend as if you were going to buy it regardless of the rewards and benefits.

25. Save money and get cashback on almost everything with Rakuten!

If you haven’t started using Rakuten, then you’re seriously missing out on FREE money!

The great thing about Rakuten is you can still take advantage of getting cashback without using a credit card. Anyone can benefit from using this popular and free money-saving tool.

I LOVE using Rakuten to earn cashback on most of my online purchases at stores and retailers I normally shop at (Expedia, Travelocity, Macy’s, Kohl’s, UGG, Walmart, Groupon, and thousands more).

You can expect to earn 3% to 6% cashback on average, but expect to even double or even as high as 18% cashback on their special days!

Take a look at a snapshot of my account and how much money I saved this year just by using Rakuten – $1,226.53! Holy moly!

🛍️ Shop. Earn. Save BIG. Get cashback with Rakuten here for FREE. You’ll even get a $10 bonus when you sign up with your e-mail today. Who can say no to FREE money?

26. Get price adjustments to save money

If you notice any item you recently purchased goes down in price, don’t hesitate to go back to the store to get a price adjustment.

I only recommend doing this if the price difference is substantial and worth your time. For example, if the price of your TV reduced by an additional $100, then it’s definitely worth your time going back to the retailer to get the difference back – that’s an additional $100 in savings!

Related posts on how to save money shopping:

• Sephora Shopping Hacks That Every Girl Should Know
• How To Get Sephora Gift Cards For Free
• How To Stop Spending Money on Unnecessary Things

27. Don’t go shopping when you’re bored

Don’t shop when you’re bored. Seriously, don’t do it.

Just like the advice of don’t shop when you’re hungry, you should stop yourself from walking the malls or browsing online when you’re bored. This is when you’re likely to spend based on impulse.

28. Make extra money and put that towards your savings

Instead of shopping on impulse when you’re bored, consider using this time to learn about fun and creative ways to make extra money. I recommend checking out the 21 ways to make money during your spare time. You could earn as high as $3,000 a month in extra money in your spare time!

Take surveys for money in your spare time instead of heading to the mall!

I recommend taking fun and easy surveys during your spare time to earn an extra $100 a month. That’s like an additional savings of $100 a month!

I personally love using Survey Junkie on my smartphone because I get paid just to answer simple questions in my spare time.

For example, I was asked questions like which restaurants do I like to go to and what appetizers, drinks and meals I like to order. I was also once asked which designer clothes and bags I like to buy, along with what I like or didn’t like about the last item I purchased.

Whenever you’re feeling bored, don’t feel tempted to go shopping just to spend for the sake of spending.

Instead, sign up for Survey Junkie here (joining is FREE) and you could earn as high as $45 per survey! It only requires your e-mail to start earning cash immediately!

Save money by shifting to a healthier lifestyle:

29. Add more fruits and veggies to your diet

Science and numerous studies have shown us over and over again that the more meat we eat, the higher our risk of diabetes, heart disease, and strokes.

So, it’s safe to say that adding fruits and veggies into your diet is healthy for you and could prolong your life.

It may also reduce your financial worries about those expensive medical bills as you get older.

30. Stop buying juice boxes

As mentioned, adding fruits and veggies in your diet is good for you, but the fruit juices you buy from the grocery stores aren’t.

Fruit juice with labels “100% natural fruit juice” is generally perceived as healthy and a better alternative to sugary soda, but studies have found that they’re just as bad.

Instead, homemade juices compared to store-bought juices are healthier and more beneficial as they do not contain any preservatives or sweeteners.

31. Invest in a juice blender for health and financial benefits

Now that you know juice boxes aren’t good for you, consider shifting to a healthier lifestyle by using a good blender to make fresh juice or delicious smoothies at home.

You’ll save money by cutting the juice boxes and reducing the number of trips to your favorite juice bar or franchise.

32. Drink more water for health and financial benefits

In addition to consuming more fruits and vegetables, it is recommended to drink plenty of water each day.

There are so many health benefits to drinking water including financial benefits.

When you drink more water, you’ll feel less hungry which means you’ll have less desire for cravings for junk or fast food.

33. Invest in a water bottle and filter to save money

If you’re someone who consumes a lot of caffeine and sugary drinks, then it’s going to take a few lifestyle changes to make drinking water become a habit.

If you want to become healthier and save money in the long term, I recommend buying a good refillable water bottle so you can take it everywhere with you.

At the same time, it’s important to invest in an affordable water filter like this one.

Save money on entertainment and going out

34. Do potlucks or picnics

If you like entertaining and having a great time with friends, consider arranging more potlucks, picnics, or summer barbeques compared to dining at the restaurant.

It won’t be troublesome since each person brings in a dish. Not only will you save money but the food is healthier compared to dining out. At least you know you can control what ingredients you put in your meals and dishes.

35. Add some BYOB and fun board games

In addition to arranging potlucks at home, consider bringing your own booze and popping out those fun board games.

Just by doing that, you’ll have even more fun with your friends without spending a lot of money. As a result, both you and your wallets will be happier. 🙂

36. Eat out on special occasions

It was mentioned above that just buying a simple $10 lunch every day could add up to $2,880 per year alone.

If you eat out a lot especially for dinner at restaurants, it could add up even more. When you work out the numbers, the total amount will likely alarm you.

What seems like a small expense of $20 to $35 each time can quickly add up to another $2,000 to $3,000 on top of your daily lunch expense. That’s a running total of more than $5,000 a year depending on your eating habits and lifestyle! Take for example a story of a couple who spent $30,000 eating out in just one year.

To save some serious money, consider reducing your bill on eating out to a few times a month. You’ll be happier and appreciate going out more when you make it a habit to eat at home.

You can start preparing healthy and delicious meals at home with a budget-friendly meal plan that works for you.

Save money on energy and utilities

37. Switch all your lights to LED

Consider replacing most of your lights to LED bulbs like these ones to save on energy.

I decided to switch most of my lights at home to bank in some savings for the long term.

If you don’t want to switch them all, or the upfront cost is too much at once, then I recommend switching the lights in areas you spend the most time in such as your kitchen or bedroom.

You can even use this LED calculator to see how much money you’ll save.

38. Adjust your thermostat

According to Energy.gov, you can save as much as 10% a year on your heating and cooling bill by simply turning your thermostat back 7° to 10°F for 8 hours a day from its normal setting.

39. Install a smart thermostat

You can install a thermostat like this smart one to save more money on your energy bill per year.

This particular model is one of the most popular and best-selling thermostats in the market.

It learns your schedule and turns down when you’re not home. This thermostat literally does all the work for you to help you save money and energy usage!

It automatically adjusts the temperature in your home throughout the day. The settings will adjust based on the changes in the weather.

Depending on factors like where you live, the size of your home, and the type of heating system used, you can expect to save up to 13% on heating and up to 15% on cooling when you switch to a smart thermostat.

40. Don’t let the water run

When you’re brushing your teeth, cleansing your face, shaving, etc. stop the water from running.

Based on a Middlesex University research, 1 in 3 people leave the tap running while brushing their teeth.

Check out how much water a person is wasting each day.

According to waterwise.org, just 1 running tap wastes over six liters per minute. That means if you brush your teeth twice a day for two minutes – you could be wasting over 24 liters of water a day per person.

That’s 720 liters of water per month just from letting the water run when you’re brushing your teeth. This is an unnecessary cost!

To put that into perspective, an average person uses 80 to 100 gallons of water per day, so that translates to 302 to 378 liters a day.

That doesn’t even include the water a person leaves running when washing their face or shaving.

Depending on your location and water charges, you could save as much as 10% to 13% on your water bill when you turn off your taps.

Wrap up on how to save money

Be sure to save this page so you can check for updates and new tips on how to save money.

My goal is to keep adding new saving money tips to this list to help you become a smart money saver so you can achieve financial independence sooner.

Also, make sure to check out my pages here on how to make extra money.

By now it is clear that saving money is a great start to achieving financial freedom, but there is a limit to how much money you can save. However, there is technically no limit to how much money you can make.

Having that said, it definitely helps A LOT when you find ways to make extra money in your spare time.

I hope these tips help you with your personal finance goals.

Related posts on how to save money:

• How To Stop Living Paycheck To Paycheck and Save Money
• Big Impact Frugal Living Tips To Help You Save More Money
• This is Why I’m Broke: How To Stop Being Broke
• How To Save Money on Beauty