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29 Genius Ways To Save Money Each Month

Brittany Kline | Updated May 19, 2022 | Save Money

Do you think it's hard to save money each money? Some people believe that when we say "save," it actually means cutting back on the things you like or enjoy. Definitely not! It's time to bulk up your bank account without giving up the things you want!
save money each month Young Girl Lying On Couch And Putting Coin In Piggybank
This article may contain links from our partners. Please read how we make money for more info.

This is a sponsored article with Tada. All opinions are 100% our own. 

We have plenty of $avvy ways to save money and promote good spending habits without getting rid of all the pleasures in life!

Making ends meet can be tough, but if you’re looking to save money each month then it’s time to get creative!

It’s no secret that saving money is a challenge in today’s economy- people even create money-saving challenges to be more proactive! In fact, the average American has less than $1,000 in savings and many people are living paycheck to paycheck.

But it doesn’t have to be this way!

There are countless ways to be frugal and save some dollars here and there without too much sacrifice. Over the course of a year, even small savings every month add up to thousands of dollars saved.

Here are 29 savvy ways to save money each month with no hassles!

Table of Contents

  • 29 Savvy Ways To Save Money Each Month
    • 1. Cut The Cable!  
    • 2. Create A Shopping List
    • 3. Find Coupons, Cash Back, & Rebates
    • 4. Pay Off Debt
    • 5. Make Your Drinks At Home
    • 6. Cut Down On Non-Essentials
    • 7. Trim Monthly Subscriptions
    • 8. Do DIY Gifts
    • 9. Budget Yourself
    • 10. Rethink Your Phone Service
    • 11. Price Compare Your Purchases
    • 12. Review Your Home & Auto Insurance Policy
    • 13. Join Reward Programs
    • 14. Smart Shop For Appliances
    • 15. Leave Your Credit Card At Home
    • 16. Use Cash More Often
    • 17. Buy Off The Beaten Path
    • 18. Join A Warehouse/Wholesale Club
    • 19. Track Items Before Buying
    • 20. Downsize or Utilize Your Living Space
    • 21. Wait To Buy It
    • 22. Declutter Your Life
    • 23. Create A Home Gym
    • 24. Borrow, Don’t Buy
    • 25. Eat Out Smartly
    • 26. Meal Plan
    • 27. Cook In Bulk
    • 28. Find Free Fun
    • 29. Shut Your Lights Off
  • What To Do With Your Monthly Savings
    • 1. Emergency Fund
    • 2. Invest
  • What NOT To Do With Your Monthly Savings
    • 1. Inflate Your Lifestyle
    • 2. Stop Budgeting
  • Our Thoughts

29 Savvy Ways To Save Money Each Month

1. Cut The Cable!  

Get Paid to Watch Movies Smart TV with icons of video streaming services and apps

Did you know that the average cost of cable is over $200 each month? And that doesn’t even include premium channels like HBO and Showtime!

You can easily save a ton of money each month by simply cut your cable bill.

In fact, many savvy households have completely replaced their television with high-speed internet and streaming services like Netflix and Hulu Plus.

2. Create A Shopping List

This is one of our favorite savvy money-saving tips! Start saving money at the grocery store by making a list before you go and then stick to it while shopping!

By sticking to your shopping list, you’ll keep money in the bank by buying only what you need. You’re less likely to end up making unnecessary impulse purchases and overspending.

3. Find Coupons, Cash Back, & Rebates

Save money on your groceries and other items by finding coupons, cash back, and rebates online or with a phone app!

Search online or download coupon apps like the Tada app to get access to coupons, rebates, and cash back offers when you need them, even in-store for more savings.

With Tada, you can see item offers under Magic Receipts before you go shop. Then simply “add the offer” to your list and go shop. Scan the receipt after you’ve purchased the item and you’ll get the cash back added to your Tada account.

Don’t miss out on free cash offered to sign up with cash back and rewards programs! After you sign up, just link your email address or store rewards cards to the apps and start saving each month.

Some of the online programs that help you get big savings include:

  • Swagbucks
  • Ibotta
  • Honey
  • Rakuten
  • Capital One Shopping

4. Pay Off Debt

Paying off your debt can seem like an uphill battle but you can do it if you take it in baby steps.

Making small changes to how much you pay each month could save more money down the road in interest and put you in a better position to pay off your debt for good!

Use a debt calculator to see how paying extra each month will help reduce your personal loans, credit card debt, and student loans quicker. Then you can get your payoff plan in place and get debt knocked out of the park!

Not sure where to start with paying off your debt? Our Savvy Debt Payoff Planner will help you minimize your anxiety about your debts and get you on track to being debt-free!

5. Make Your Drinks At Home

drinking starbucks coffee

Many people don’t realize how much money they spend each month on buying drinks like coffee, tea, or smoothies every day- and we definitely did the same before we realized our mistake!

$5 every day for a drink can seriously add up- that’s an average of $150 per month! Save each month by making your own drinks before work and bringing them with you.

To save money on drinks, make your coffee at home and then bring it with you in a travel mug or 2 to enjoy throughout the day. You can even steep tea bags the night before to take with you as well!

Pick up frozen fruit so you can whip up an easy smoothie to drink on the go, and you can buy little coolers to keep them cold with you during the day.

If you truly need to get your Starbucks drink then why not earn a free Starbucks gift card so it pays for itself? 

You can sign up for Swagbucks and earn your FREE $5 sign up bonus! 

6. Cut Down On Non-Essentials

One of your savings goals should be to cut down on non-essential items. By cutting down on a few here and there, you could save quite a bit of money per month.

It may seem like it is a bit much to suggest but skip going to the nail salon once a month or get your hair cut once every few months.

Another big one we’ve seen is to stop smoking and you’ll save a ton of money each month!

7. Trim Monthly Subscriptions

Do you have a gym membership, magazine subscriptions, and others that you don’t use? Need to lower your monthly insurance rates?

By cutting back on your monthly subscriptions, you’ll save money each month while also freeing yourself from paying for something you won’t use.

Trim is an artificial intelligence aid that will negotiate with your cable, phone, insurance, and even medical bills to save you money. It also will cancel subscriptions and memberships that you aren’t using.

8. Do DIY Gifts

Consider making a gift for someone instead of buying one. You can make homemade cookies, bath salts, scrapbooks, photo albums, or other DIY gifts to give to loved ones.

These are not only cheaper than store-bought items, but they are also more meaningful because you put time and effort into making them! And I’m sure you can make some great quality gifts too!

9. Budget Yourself

Creating a budget is a good way to help you save money every month.

First, sit down and figure out your monthly expenses to know what you spend your money on by writing it down. Once you know where your money goes, you can take steps to reduce certain spending.

Track your spending for a couple of weeks so you can see where your money is going. Then create a realistic plan to cut expenses and work toward a savings goal.

A good family budget isn’t complicated to make and the time you take to create it will reflect in how easily you can track your money from then on.

Savvy Tip: Want to save more money with less hassle? Grab our Budget Binder to help you budget like a pro today!

10. Rethink Your Phone Service

phone and money to show free stocks and earning money with investing apps

It may be time to shop around to find the best cell phone plan with lower costs. Reduce the amount on your monthly bills by changing your cell phone plan to something cheaper.

For example, if you have an older phone that doesn’t need all the bells and whistles, consider downgrading to a cheaper plan. Monitor your usage so you don’t overspend each month on data charges or minutes!

11. Price Compare Your Purchases

Price comparing is all about finding the cheapest price of an item. This is something that anyone can do by simply doing some research shopping online before making a purchase at the store!

For example, if you are buying a new pair of pants, find other outlets where they are selling them so you can get the best deal. You can often find plenty of other options online for les.

12. Review Your Home & Auto Insurance Policy

It’s a good idea to review your home and car insurance policy every year before you renew.

If you have made any changes to your house or got a new car even, contact your insurance company to see if it is possible to reduce your premiums per month.

If not, you should simply compare prices with other insurance companies for a better monthly rate. You may be surprised at how much money you can save each month!

13. Join Reward Programs

To save money each month, take advantage of the reward programs for your favorite stores.

Check out Tada to see what stores offer store rewards, coupon codes, and promo codes for signing up for email or for opening store credit cards.

For example, if you regularly shop at a grocery store, become a member of their rewards program. You’ll be able to save money with discounts on future shopping trips, and some stores have extra coupon offerings for members!

Savvy Tip: Add the Tada extension to your Chrome browser to find extra coupons and apply savings directly to your online purchases.

14. Smart Shop For Appliances

Appliances like fridges and washing machines are big-ticket items that can cost thousands of dollars!

But smart shopping and comparing prices could save you hundreds of dollars on those important appliances. Research your options and shop at the best time for appliances.

Plus check for promo codes or coupon codes online and you may be able to save 5% – 15% off the price of the appliance!

Savvy Tip: Don’t forget good maintenance to make your appliances last! Clean the lint filter in your dryer and vacuum your refrigerator coils to keep them running efficiently. By doing this you can cut back on a lot of money going to repair bills!

15. Leave Your Credit Card At Home

credit cards in a wallet

One of the best ways to save is to leave your credit cards at home and use only your debit card.

If you don’t have your credit cards with you, you won’t create more credit card debt by using them! Using your debit card will help you stick to your shopping list and prevent overspending.

Your account is your limit, meaning you’re less likely to talk yourself into buying something that is not in your budget!

16. Use Cash More Often

Next time you’re out shopping, pay with cash. Shopping with a credit card can easily lead to a spending spree and put you in a bind with overspending!

Cash is king because it limits the amount of money you can spend each day. Be smart and only bring the amount of cash you need for the day.

17. Buy Off The Beaten Path

You can save hundreds of dollars each month just by thinking outside the box and looking around before making your purchases!

Try buying refurbished instead of new. Many sites like Amazon offer used and refurbished with their money-back guarantee.

Also, buy generic products at the grocery store instead of the brand name- they’re often made by brand-name companies anyways and are usually cheaper.

If you need an expensive item like a washer or dryer but don’t need anything fancy, check out Craigslist or garage sales for used models that are still in great condition- even if there are no warranties included, they’ll still do the job at a much lower price!

18. Join A Warehouse/Wholesale Club

Warehouse stores like Costco and Sam’s Club offer lower prices on most items because they buy large quantities and pass discounts on to you.

By buying in bulk, you can save hundreds of dollars each month by stocking up on household supplies and food.

19. Track Items Before Buying

You’ll be surprised by how much you can save simply by comparing prices. This technique is a great way to avoid impulse purchases and increase savings for the month.

Check the price of an item online at several stores before you buy it. You can even track items that you may want to purchase with the free Honey app.

Honey will also tell you when the item goes down in price, which helps you get the discounted rate without having to check yourself!

20. Downsize or Utilize Your Living Space

empty room and closet

If you live in a big house, consider downsizing to free up some money in the budget. By living in a smaller home, you can save hundreds of dollars in expenses each month by spending less on bills, rent, or a mortgage.

Another idea would be to utilize your living space by renting out your extra space. Rent out a bedroom or the entire house on Airbnb and make money by the day, week, or long term.

You can still rent out the extra room and make some extra cash without having guests stay with you. Companies like Neighbor Storage connect you with people looking for storage space in their neighborhoods rather than using traditional storage buildings.

21. Wait To Buy It

If you see something that you really want, try waiting a couple of days before buying it. The price may go down- or you may not want it as much. It’s always got to try and avoid buyer’s remorse!

You can sign up for an app like Honey to show you how much the price has dropped or get notifications when the item goes down in price.

Plus, think of the holidays- you can always make a wish list and ask for them as gifts rather than buy stuff yourself right now.

For large purchases, like new furniture or even a new car, you definitely want to research your options and wait to buy. Those big expenses can really rack up, so starting a sinking fund and planning that purchase wisely can make a difference.

22. Declutter Your Life

Clutter can be expensive, and frankly just stressful. We love the minimalist lifestyle we’ve created, and it saves us space and money.

Take some time to declutter your home and sell things that have value on Decluttr or through Facebook Marketplace.

When you sell your things, there is no need to pay for a storage unit when you quickly run out of house space. Sell items that have little intrinsic value and you’ll have extra money to put in your savings account!

23. Create A Home Gym

By creating your own gym, you’ll be able to exercise in the comfort of your own home and save money every month.

This is a great money-saving tip since your workout gear will be less expensive compared to gym fees in the long run! You can buy equipment on sale or even used ones online through Facebook Marketplace or Craigslist.

24. Borrow, Don’t Buy

There are many things that you may find yourself using every once in a while. Instead of buying, consider borrowing these items.

Sometimes we buy things that need assembly, but don’t have the tools to get them put together.

More often than not, you’ll only use the tools one time, so why spend more money on something that will collect dust?

Borrow the tools from your neighbor or friend instead of buying your own set. You’ll save money by borrowing items that you may only use once!

25. Eat Out Smartly

Four friends eating dinner at rooftop restaurant

Eating out can get expensive, and being smart when eating out is one way to save money

One trick is to get appetizers instead of entrees, some places have lower-cost apps that are the same size as an entree!

Or if the restaurant will let you, order from the kid’s menu- it’s the same food at a smaller portion and oftentimes at a very reduced cost.

Or if you still want an entree, check for coupons or deals the restaurant has, or simply split it between yourself and your companion and split the bill.

26. Meal Plan

Save time and money by meal planning! As a mom, this has made my life easier and saved our wallets.

Pick out recipes for the week, planing around what you already have at your house. This will prevent you from running to the grocery store for ingredients and spending money when you already have a kitchen full of food!

Plus a meal plan will help buy only what you need when shopping and create a strict list to stick to.

Savvy Tip: Use a meal planning service like the $5 Meal Plan or My Freez Easy to help you get started on easy meals your family will love.

27. Cook In Bulk

Help reduce the amount you spend in the food category of your budget by cooking in bulk!

By cooking more than one meal at a time, you’ll have food ready for the week or you can freeze them for future use.

Frozen foods will also keep you from eating out- we’re guilty of wanting to grab some quick fast food when we’re tired, but the frozen meals keep us from wasting that money!

28. Find Free Fun

There are all sorts of free activities that you can do with your family or partner so you don’t have to limit yourself in your budget for fun!

Look for free museums, free cultural events, free concerts, and other things to do in your town!

You’ll save money on admission fees, parking costs, and gas by doing these fun activities for FREE without sacrificing your entertainment.

29. Shut Your Lights Off

If you live in an area where electricity is expensive, every little bit helps. Turning your lights off will make a difference and can help keep more money in your bank account per month!

Save money on your electric bill by shutting lights off whenever you leave a room and turning off all of your lights at night to save money.

Savvy Tip: You can also buy smart lights/bulbs to hook up with your smart home devices, like Alexa.

What To Do With Your Monthly Savings

Now that you’ve reduced your monthly expenses and started to save money, what do you plan on doing with your extra funds?

It’s important to set up financial goals and stick with them – that way, you’ll stay motivated to save more!

Here’s a couple of suggestions on what you can do with your new monthly savings.

1. Emergency Fund

Best Investing Books

If you are like most Americans, emergencies happen, and using your credit card to deal with the costs can rack up your debt!

Make sure that you have an emergency fund- Dave Ramsey, a finance guru, suggests you save $1,000 in emergency cash.

By having an emergency fund, you won’t need to rely on credit cards or loans if your car breaks down or there is a medical issue.

Start an Automated savings plan where your bank automatically transfers money from your checking account to your savings account.

2. Invest

Start investing in your future by opening up an investment account, like a 401(k), IRA, or even just stocks and bonds.

There are many different types of investment platforms out there, like Robinhood and Betterment, so do your research and find one that fits you!

Try to increase the amount that you are contributing or try to bump up the percentage of income that you are putting into your investment accounts.

What NOT To Do With Your Monthly Savings

1. Inflate Your Lifestyle

Once you have your debt paid off and have more money in the bank, don’t inflate your lifestyle!

It’s easy to slip into the habit of splurging when you have the extra money, but don’t change your personal finance habits completely after you become debt-free.

Be sure that you are still living within your means and not spending money that you don’t have!

2. Stop Budgeting

It’s important to stick to a budget even after you are living debt-free and with reduced expenses, because it will help you stay organized and avoid accumulating debts and paying too much in the future!

You’ll need a plan in place to make sure that you can continue saving money and avoid going back into debt, so keep that budget current and don’t abandon it!

Our Thoughts

multiple hands holding pink piggy bank with coins underneath it

Saving money is easier said than done, but by following these tips on ways to save, you’ll be able to take control of your finances and get a bit richer!

Now experts say e should be saving about 20% of our income every month– with these tips, you could be saving even more!

There are little and big things you can do to save hundreds, and good habits you should get into once you have saved money every month.

Having your savings and emergency fund will help you with the unexpected, and sticking with your budget will give you more leeway and keep you from living paycheck to paycheck throughout life.

You don’t have to cut the things you like completely, like eating out once in a while or your fancy coffees from your favorite shop- but spending less on those will load up your bank account and give you money for more down the road!

Now that you’ve for the know-how, put it to use! Go save some money and get that financial freedom you deserve!

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About Brittany Kline

Hi, I'm Brittany Kline! A money-saving frugal mom, budgeting fanatic, and personal finance expert. With my master's degree in education and life experience, I help families save money, make money online, and reach financial freedom. I have been featured in online publications like Forbes, USA Today, Huffington Post, Business Insider, Marie Claire, The Penny Hoarder, Bankrate, Nerd Wallet, CNBC, Acorns, Yahoo Finance, MSN, GoBankingRates, Her Money, Thrive Global, The Simple Dollar, Money Crashers, Readers Digest, FinCon, Best Company, Rent Cafe, Romper, Intuit Turbo, Opp Loans, CreditCards.com, Debt.com, Discover, LifeLock, Quick Sprout, Money Geek and many more! Click here to read all of my posts.

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