35 Simple Ways to Save Money Now

Kelley Olinger
Sep 6, 2018 · 10 min read

Saving extra money doesn’t have to be complicated or even restrict your daily life. There are so many simple lifestyle adjustments, that, when compounded can make a big impact on your bottom line. While you’ve likely thought of ways to save money, sometimes a simple new idea can get your money-saving-creative-juices flowing. Here are some great ways to save money now.

1. NEGOTIATE BILLS

When I felt I was paying too much for my cell bill I called my provider and said I wanted a reduction. They managed to reduce my bill while offering me more data. Sometimes bill negotiation is only a matter of effort. Consider combing through your bills to see those that haven’t been reviewed in a while. Call into customer care and ask for any reductions available. Additionally, you can employ services like Bill Shark who will work to cut your bills on your behalf. Just be sure to read the fine print as Bill Shark takes a piece out of the savings they find for you.

2. CUT EXPENSES

Different from negotiating bills, cutting expenses is reviewing all of your expenses — even those that aren’t necessarily bills per se. I try and make a habit of reviewing my expenses at least every quarter. Look at subscriptions that aren’t being used and consider cancelling them. Perhaps there are services you’ll want to cancel only for the time you’re looking to save money. Like, cancelling a gym membership during the summer months and exercising outside, for free, instead.

3. CANCEL CABLE

With streaming services so prevalent, cable is a money pit. Some people keep cable as they just feel weird about cutting it. Once you don’t have it though, you really won’t miss it. Network Apps like CNN, ABC, etc. often allow you to watch shows by trial, and streaming services like Netflix, Hulu, Amazon, etc. have more TV and movies available than you could reasonably watch in your lifetime. And, for a change, you might even consider podcasts which let you listen while you walk, exercise, clean the house, cook, etc.

4. CONSOLIDATE DEBT

Consolidating debt should be carefully considered as consolidation strategies like no-interest credit cards (sometimes) have scary terms and conditions. And, if you have debt resulting from bad money-habits, you only risk building more debt after consolidating. But, consolidating responsibly often decreases the overall interest rate (costing you less in the end), in addition to resulting in a single debt payment reducing the chances of late payments and related penalties.

5. SELL USED STUFF

I’ve made thousands of dollars selling my used stuff online. I’m continually scanning our house for things we don’t use anymore and purging. Not only do I love a clean, sparse environment, I love recouping the cost of items bought previously. Selling is possible through Craigslist and Kijiji, but more and more people are using simple and effective sites apps like VarageSale. I’ve written a guide on best practices for selling online. If you want tips for getting top-dollar, check it out here.

6. BUY USED STUFF

I have to admit, I’m not a fan of used clothes, like Thrift Store stuff — it smells weird and I just don’t like it. But, used furniture or electronics is something entirely different. After all, used furniture like tables, nightstands, etc. is as good used as new. And, with trends like chalk painting, used furniture can be repurposed and made new again. If you have to buy something, ask yourself first, could I buy this used? Again, check online through Craigslist, Kijiji, VarageSale or even local garage sales. You might even check thrift and consignment stores too.

7. WORKOUT AT HOME

If you’re so inclined you could definitely do at home workouts with great results. My gym membership is $60 per month, and with a simple investment of dumbbells, a mat and an exercise ball, there’s plenty I could do at home. In fact, once I tried P90X which is an INSANE at home work out. Consider ditching your gym membership and trading it for an at-home workout. Give P90X a try!

8. EVALUATE YOUR GROCERY PRICES

Do you shop where’s convenient? I do. I shop at the grocery store near my house because it’s the grocery store near my house, but it’s likely that using a farmers market or markets, in general, would make a big impact on the cost of produce alone. Go online and check grocery stores in your community, do a little price shopping. Take advantage of apps like FLIPP to consolidate flyers in one place, find coupons, and make grocery lists.

9. USE GROCERY STORE APPS

My girlfriend told me about CheckOut 51, which is likely only one app of many like it. Essentially you check items listed on the app before you go grocery shopping, and, if you buy those featured on the app (the ones you actually need of course), you get money back, even if they’re on sale through the store. After shopping, snap a photo of the receipt and receive cash back from CheckOut 51.

10. MAKE COFFEE AT HOME

Simple enough, quit buying coffee while you’re out, instead of making an effort to drink it at home, or using a to-go mug while you’re on the move.

11. PACK A LUNCH

Packing your lunch will save money and probably your waistline too. If you like eating out like me (guilty as charged), consider asking a friend to meet for a picnic instead. Or, if you can’t fathom packed lunches, ask a friend to share a meal, cutting the cost in half.

12. MEAL PLAN

Food is a HUGE expense for most people/families, and those who meal plan are most effective with their food budgets. Meal planning is essential for reigning in food expenditures. I’ve written a blog post on meal planning here. If you’re not interested in making your own meal plan, but still want to save on groceries, I highly recommend $5 Dollar Meal Plan.

13. MAXIMIZE YOUR GROCERIES

Have you ever moved into a new home and needed to buy things like ketchup, soya sauce, peanut butter, etc? OR, made a recipe that calls for something like peanut oil, that you know you’ll never use again? That’s why crafting meals with ingredients you’ll use over and over is a good saving strategy. The Fresh 20 is a subscription meal planning service based on buying only 20 fresh ingredients. Lighten the load in your grocery cart, check it out.

14. BULK BUY STAPLE GROCERIES ON SALE

When certain groceries that you always keep on hand are on-sale, consider purchasing extra quantities. While it’ll cost more now, it’ll save you (time and money) in the long run. Staple groceries might include boneless skinless chicken breast, pantry items, ketchup, peanut butter, etc.

15. BUNDLE UP / DRESS DOWN

Probably not a strategy I’d employ, but there are people who bundle up (turning the heat down) in the winter and reduce layers (easing up on cooling) during the summers.

16. INSTALL A PROGRAMMABLE THERMOSTAT

Thermostats are great for keeping household temperature regular and constant, but while you’re at work or sleeping, maintaining high or low temperatures is wasteful. Programmable thermostats are an upfront investment which provides big returns in the long run. Thermostats, like this one, automatically adjusts the temperature according to your schedule. Or, perhaps even more technologically advanced, are thermostats, like Nestthermostats, that learn and adapt to your habits, heating or cooling in the most efficient way possible.

17. USE LED LIGHT BULBS

LED lights formerly known as light emitting diodes (whatever that means), might be among the most simplistic ways to save on your electricity bill. LED bulbs (like these ones), when compared to traditional light bulbs, use 75% less energy and last 25 times longer. In addition, they release very little heat contributing less to warming homes during summer months. I replaced all the bulbs in my house with LED bulbs. Similar to a programmable thermostat though, they’re a bit of an investment up-front, but you’ll reap the rewards moving forward.

18. INSTALL SOLAR PANELS

This definitely requires research and isn’t something I’ve done myself (I live in a condo), but if you have a house, it’s worth weighing the long-term savings of solar energy. Additionally, many governments are offering rebates and subsidies for renewable energy.

19. WALK TO WORK

Walking to work saves your waistline, along with costs for gas, bridge tolls, and parking fees too. If walking isn’t possible, perhaps cycling, or transit could be a substitute. Carpooling is another option. Even if you don’t choose an alternate method of transportation every day you work, making an effort once a week will make a big difference over time.

20. HOST A POTLUCK

Too many people invite guests for dinner and carry the load of buying and cooking an entire meal, which is insanely expensive. Consider hosting a potluck the next time you have a larger group for dinner. Most people ask if they can bring something anyway. Divvy up the workload and the expense through a potluck dinner.

21. GET A LIBRARY CARD

I don’t mention a library card to suggest you loan books, I mention a library card because many people are surprised to know they offering streaming services providing music, movies and tv shows too. And, best of all, library cards are free giving you the chance to eliminate or reduce your existing streaming and cable services.

22. DITCH BANK FEES

If you’re paying bank fees, whether monthly chequing account fees or an annual credit card fee, you can easily find no-fee banking products. You can either inquire about switching to no-fee products with the same institution or switch banks altogether. I used to do all my banking with one of the big five but started getting frustrated with the never-ending service fees. I opted to switch to Tangerine (see my review here), starting with a saving, then chequing account, and now I use their cash-back MasterCard too.

23. CASH IN ON POINT PROGRAMS

If you’re anything like me, you collect loyalty points everywhere you go and really know nothing of what the reward programs offer you. And, it’s knowing a little more about loyalty programs can maximize your return. For example, some programs offer better value when larger point values are redeemed versus redeeming smaller point balances. Save and shopping and learn more about what your point programs will do you for (think gas stations, drugstore, retail stores, etc).

24. REVIEW BANKING STATEMENTS

So many people neglect their banking statements. Taking a quick glance once per month might highlight erroneous charges, fees, and interest. Some people even find subscriptions they’d forgotten about charging their accounts month after month.

25. TRACK BILL DUE DATES

Sometimes bills get paid late simply from losing track of time. Adding bill reminders to your calendar can go a long way to avoiding accidental late bill payments.

26. AUTOMATE BILL PAYMENTS

Not every bill can be paid automatically, but consider automation for those that can. There’s no sense having penalties and late fees just because you forget to pay something. Inquire with vendors to find out how you can have bills auto-debited, or if you’re responsible enough, paid through your credit card.

27. CONSIDER BUYING GENERIC PRODUCTS

When visiting the drug store and grocery store too, rather than buying branded products, look for the store’s generic version instead. Stores usually carry generic products at a discounted rate. In many cases, these products are using similar ingredients and are a similar quality too. Even prescriptions medications offer the opportunity for generic options. Next time you shop, check for generic options.

28. PAY BILLS ANNUALLY

Almost any bill, when paid annually rather than monthly, offers a discount. So, when given the choice opt to pay annually. Then start saving a monthly amount so you have the annual amount saved by the next year’s bill due date.

29. CONSIDER A CAPSULE WARDROBE

One day I went shopping and bought a neon green camisole. It sounds terrible, but it was silk from a downtown designer boutique. I came home and my spouse thought I was nuts. Not only did I overpay, but, he pointed out it was super limited with my existing wardrobe. A capsule wardrobe is a collection of staple items that can be mixed with a few seasonal items — the result, you need way less clothing — a big money saver!! If you’re interested in creating a capsule wardrobe, check out this great article, here.

30. LEARN TO BUDGET

Budgeting reduces overspending and resulting debt. It is essentially the only strategy that eliminated all my debt and helped me build wealth. It’s the single most important financial strategy in my opinion. YNAB is the software I used to learn and implement budgeting (full review here), although there are many to choose from. Whether you use software, a spreadsheet,

31. PLAN FOR THE UNEXPECTED

Did your last car repair or breakdown catch you off guard? For those caught off guard by unexpected expenses (vet bills, car repairs, emergencies, etc), they’re often left to reach for credit cards or lines of credit. Unexpected expenses totally derails, even the most well-intentioned, financial plans. The best strategy is working to plan for these things you can’t plan. To learn the best way to plan for the unexpected, read this.

32. DITCH THE DATA PLAN ON YOUR CELL PHONE

With wifi available everywhere, there’s less and less reason to have data. And, for most of us, data is just something we’ve become used to. Save some money by eliminating it for a while — you’ll likely never miss it.

33. HOST A CLOTHING SWAP

One of my girlfriends hosts an annual clothing swap with friends. Friends bring lightly used clothing and trade. Even Oprah offers rules for hosting a swap which includes things like suggesting the minimum and the maximum number of items each guest should bring, including friends of all shapes and sizes, and designating one room as a changing room. Clothing swaps quickly freshen a wardrobe for absolutely no money.

34. ASK FOR A DEAL

The squeaky wheel gets the grease, right? Well, sometimes purely asking a customer service rep, heck, even the grocery store clerk about any deals or coupon you should be aware of will result in savings. So, get over being polite, and ask for deals. Every time you buy something, you could ask if it’s the best price they can offer?

35. EMPLOY THE SHARING ECONOMY

Perhaps not your house, but you could consider dropping your car and your bike, instead of using the sharing economy for bikes and cars. We recently went down to one car in our household. We’re saving on car insurance and a rental fee paid for an additional parking stall. If we’re in a bind for transportation, there’s public transit, rental bikes, or a car share vehicle right down the street.

Kelley Olinger

Written by

Motivated by personal blunders. Working to spread Financial Literacy through coaching, teaching, and writing.

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