20 Practical Ways to Save Money

Now that we’ve hit the big picture items, let’s look at some smaller, more practical ways to save money regularly.

  • Use an automated tool or app to automatically put small amounts in your savings account.


  • Prep for grocery shopping so that you don’t overspend.


  • Order smaller servings at restaurants


  • Get discounts on entertainment.

  • Map out major purchases so that they fit into your budget rather than buying on impulse.


  • Restrict online shopping so that you’re not making impulse buys while surfing the internet.


  • Bundle cable and internet services to get a lower rate.


  • Switch your cell phone plan to a cheaper option.


  • Monitor your electric bill and take actions to reduce electricity usage (turn A/C off when leaving the house, turn off lights, etc.).


  • Lower your car payment by refinancing.


  • Lower your student loan payments by refinancing.

  • Cut your mortgage payment by refinancing.


  • Use a lower interest loan; such as a home equity loan or line of credit, to pay off high interest credit card debt.

Oftentimes, changing just one habit can you save you lots in the long run


  • Give up coffee or reduce alcohol consumption. It not only saves you money, but there are definite health benefits.


  • Cancel your gym membership and work out at home.


  • Take your lunch to work instead of eating out.

  • Borrow books, magazines, and videos from the library.


  • Lock up your credit card and checkbook and only pay in cash.


  • Review your bank statements and compare them to your budget.


  • Set limits for birthday and Christmas presents.

  • Share gardening tools and equipment with your family and neighbors.


  • Shop around for insurance especially car insurance.


All of these tips and strategies are great for creating immediate, short-term gains. But, it is also important to have a long-term plan, as well as a budget to help you implement your saving plans.