Lately we’ve been focused on saving as much money as we realistically can.
We haven’t made extreme sacrifices, but we’ve adopted several practical lifestyle changes to avoid unnecessary spending. Our main goals are to build a larger down payment for our next home, increase our investments, and save for more travel.
We save in many different ways beyond what’s listed below, but these are the primary changes we’ve made that currently total about $1,200 in monthly savings.
Continue reading the money-saving tips below to discover actionable ways to keep more of your income.
We’re eating out less.
This is something I haven’t fully shared before because I felt a bit embarrassed about how much we used to spend on dining out. We aren’t spending as extravagantly as we once did, but until recently we still ate out more than we should have.
I estimate we’re saving around $500 a month by cutting back on eating out compared to a few months ago.
The biggest changes have been consistent meal planning and reducing food waste. Now we shop with a grocery list and stick to it, which helps prevent impulse purchases and leftover food going to waste. I once read that an average family throws away roughly 40% of the food they buy—that’s a huge amount.
Meal planning is one of the simplest and most effective strategies to learn how to save more money. There are many practical ways to reduce grocery bills by buying intentionally and using what you already have.
We’re cleaning out our pantry.
Cleaning out our pantry has helped lower our grocery spending immediately. Our cabinets used to store many duplicate items, so we made a point of using what we already had before buying more.
We were amazed at how many pasta boxes, canned goods, and other unopened items were taking up space. After committing to eating through those supplies, our pantry is now nearly empty and we’ve avoided unnecessary purchases.
I estimate we’ve saved about $100 so far just by using what was already in the pantry. This is an easy, often-overlooked way to cut food costs.
We switched to a more fuel-efficient car.
We traded our Camaro for a 2015 Subaru Legacy, which gets significantly better gas mileage. Between that change and having a second vehicle that still uses more fuel, the switch has already reduced our monthly fuel costs.
The swap has saved us about $350 per month. On an upcoming road trip, driving the Subaru will save roughly $400 in fuel alone—substantial savings for a single trip.
We’re considering cutting cable entirely.
We recently downgraded our cable package to save $20 a month, and we could save an additional $40 by cutting more channels. Because we use streaming services like Netflix most of the time, cable has become redundant.
Eliminating cable and relying on streaming can result in approximately $50 a month in savings, and many people find they don’t miss cable after switching. For those who still want local broadcast channels, a digital antenna is an inexpensive alternative.
I’m on an unintended clothing fast.
I haven’t intentionally tried to reduce clothing spending; it just happened. I can’t recall the last time I bought clothes—probably around five months ago. Working from home and fewer social outings have contributed to this unplanned pause.
I estimate this clothing fast has saved me roughly $200 per month. I also sold some items recently for $40 and plan to donate several bags of clothing. Reducing wardrobe purchases is another practical way to cut monthly spending.
Negotiate insurance and shop providers.
Many people pay for coverage they don’t need. Evaluate your auto and home insurance policies—check deductibles, coverage limits, and available discounts. Often, simply calling your agent and asking for lower rates or bundling discounts can reduce premiums.
Shop multiple carriers, compare quotes, and consider adjusting coverage where appropriate. Small changes can add up to significant annual savings.
Find a more affordable cell phone plan.
Most households overpay for cell service. Comparing plans, switching carriers, or choosing a low-cost provider can cut monthly bills dramatically. Affordable plans start as low as a few dollars a month depending on usage, so review your needs and choose a plan that fits.
Earn small amounts with surveys and rewards programs.
Taking online surveys won’t replace a full-time income, but signing up for several survey sites can produce an extra $25–$100+ per month. These sites pay for opinions, product tests, and occasional tasks—useful for small supplemental earnings.
Additionally, loyalty and cash-back services can return money on purchases you would make anyway. Cashback portals, rewards browsers, or apps that offer grocery rebates are worth exploring.
Use automated savings tools.
Automated savings apps analyze spending patterns and transfer small amounts into a savings account. These tiny recurring transfers add up over time and make saving automatic and effortless.
Refinance student loans if possible.
If you have student loans, refinancing to a lower interest rate can reduce monthly payments and the total interest paid over the life of the loan. Compare offers from reputable lenders, and consider how refinancing fits your long-term financial goals before committing.
Other practical tips to increase income or reduce expenses
- Start a blog or side project. Building a side business or blog can generate additional income over time. Many people monetize hobbies through advertising, affiliate programs, or digital products.
- Search for coupon codes and discounts. Always look for coupon codes before shopping online and use price comparison tools to find the best deals.
- Use rewards search engines. Some search engines and browser extensions offer points or cash back that can be redeemed for gift cards or cash.
- Try online rewards platforms. Sites that reward tasks, surveys, and shopping can provide small but steady supplemental income.
- Consider part-time work. A part-time job or freelance gig can quickly increase monthly income and accelerate savings goals.
How are you currently trying to save money? How much do you estimate you save each month?