Want to learn 15 quick money saving hacks that you can implement right now to save hundreds of dollars? These are my favorite money saving tips that have allowed me to save tons of money over the years. I am still paying off my car and student loans so I am very conscious about where I spend my money. These hacks have allowed me to put more money towards my loans and even save some too!
If you’re looking for more money management tips, read my 9 Money Saving and Spending Tips that I Live By to reduce debt, reduce financial stress and reach your financial goals!
Keep reading to learn my 15 favorite and super simple money saving hacks that you need to know!
1. Skip the Uber
Walk, bike, take the bus, have a designated driver, etc. There are other options to choose from in terms of transporation, other than always relying on Uber. Now, I get that in some cases, an Uber is necessary. Which I understand, but, I know a lot of people that use Uber regularly to get around and it’s just not necessary. It’s convenient, but costly.
2. Pack your Lunch for Work
You can save SO much money here. Even if you only spend $5 per meal at work. That $5 a day, can add up to $25 a week, $100 a month, and over $1000 per year! You probably didn’t think about it that way. But, it’s a lot of money you could be saving if you just pack your lunch at home.
I used to buy food at work when I was in college, but after I graduated and started hard-core budgeting I decided to cut out spending on food at work entirely. Now, I make all of my lunches at home, which saves me money and is actually way healthier too!
3. Don’t buy coffee (or any drink) every morning
I don’t like coffee so I really lucked out there! But instead of buying Starbucks every morning, make your own coffee from home before you leave for the day. Paying for coffee or any drink in the morning is another thing that can add up quick. Especially if you buy lunch at work too. Then you’ve got your coffee expense AND lunch expense, that you could completely eliminate if you did both at home.
4. Don’t go out for drinks every night
As a young millennial I know how tempting it is to go out with your friends every night. Your friends text you to ask if you want to watch a sports game, meet up for margs or just sit at the patio of a restaurant. Pretty soon you’ve got plans almost every day of the week that involve you spending money on drinks.
I personally don’t drink alcohol, which in itself saves me TONS of money. But, if you do, try analyzing how much you’re spending on drinks per week. Can you cut down on your drink spending? If so, set a strict budget for yourself when it comes to going out with friends and the amount you can spend. Whenever we go out to watch a sport’s game at a bar, I always opt for water!
5. Sign up for Rakuten
I signed up for Rakuten almost 3 years ago and it has saved me so much money. If you haven’t heard of Rakuten, it’s a company that gives you cash back for your purchases! By adding the Rakuten browser extension to your computer, it will automatically give you a notification of the cash back you can receive from the retail site you’re on. It’s so simple!
If you’re an avid online shopper and aren’t currently using Rakuten, you’re losing out on cash back that you could be earning EVERY purchase! Literally, I earn cash back on almost everything I buy online.
Keep in mind, the amount of cash back you earn per purchase depends on the retailer. Cash back amounts can range from 1% to about 10%. Honestly, this is one of the best ways to earn money on items you’re already purchasing.
I have a referral link if you want to sign up and get $10 added to your account!
6. Budget your Money
Every single person needs a budget. A budget is simply a plan for your money. It doesn’t have to be scary or intimidating! Start by creating a monthly budget for yourself and track every incoming and outgoing dollar. This way you know exactly where all of your money is going.
I started budgeting right after I graduated college, and in a year and a half I was able to pay off over $27,000 worth of debt. I was able to pay off so much of my debt simply by budgeting and managing my money correctly! Here’s the exact budgeting sheet I use to track my monthly bills, expenses, income and debt!
7. Drink water when you go out to dinner
I don’t like soda or alcohol so it’s pretty easy for me to just drink water when we eat out. But, if you are someone that is always ordering a soda or an alcoholic drink with you meal, try sticking with water for once! It’ll save you a few dollars every time you go to a restaurant. And if you go out a lot, you’re going to see a huge difference in your savings.
8. Make it a goal to lower your monthly grocery bill by $20
I can almost guarantee you that you can easily cut $20 from your grocery budget. Since I’m still paying off my student loans, I make sure I only buy food that I absolutely need. I don’t go wild when I’m grocery spending and my budget document proves that. My monthly grocery spending is roughly $100.
If your grocery expenses are extremely high, try cutting back on the unnecessary snacks foods (those can add up). If you’re a snacker like me, that can be hard. But I can tell you, there are always deals going on for snacks! I recommend trying to only buy snack foods when they’re on sale.
9. Shop for things out of season
Shopping for anything out of season will save you major money. I know it can be hard to wait until the season’s over, but that’s usually when the best sales are! If you need new Christmas decorations, you’ll want to buy them after December 25th. They’ll be 50-75% off, which is huge!
I keep an ongoing list on my phone of things I need to buy, and when I notice that it’s off-season for that item, that’s when I’ll go buy it!
10. Rent books from the library instead of buying them!
I love the “new book” smell and when the pages are crisp and clean, but honestly, most of the time I only read a book once and then I never pick it up again. It’ll save you so much money if you just check books out of the library or use the Libby app.
The Libby reading app is pretty awesome because it’s completely free and it works just like the library. You borrow e-books or audio books from your library through Libby and you can read/listen to the book on your phone or iPad! Pretty neat. Plus it saves you time and money! Now that I rent all of my books from the library, I noticed that I read a lot more too because all of the books are free!
11. Always ask if there are sales going on in stores or if you get a discount for signing up for their email list
Sometimes stores have secret sales or deals going on that aren’t broadly advertised. The other day, I got $20 off of $50 just for signing up to a store’s email list. I had already picked out the clothes I wanted, not knowing about the deal, and when I got to the register I asked about extra sales they had going on. They told me if I sign up for their emails I’d get $20 off. Honestly, my day was made! Make sure you always ask the sales associate about the sales.
12. Cut down on weekly/monthly beauty services
I have never been big into getting my nails, hair, eyebrows or eyelashes done. I think this has saved me the most money out of all of these tips. Routinely beauty services are expensive and can add up quick! If you’re getting weekly manicures or pedicures, paying to have your eyebrows done, your hair done, your eyelashes, or whatever else you need done, you are probably spending thousands and thousands per year on services.
I get about three haircuts a year and that is all the “beauty” services I pay for. Everything else, I do myself. I pluck my own eyebrows, I paint my own nails and toes and I color my own hair. If you’re paying for a ton of beauty services right now, think about which ones aren’t a necessity. What services could you cut back on?
13. Don’t order food delivery
As millennials, getting food delivered has become the new norm. However, I can tell you that I have NEVER (not once) ordered food delivery. You’re probably thinking I’m crazy! But, I can’t tell you how much money this has saved me. Personally, I think of paying for food delivery the same way I think about paying for shipping on a product. And I absolutely hate paying for shipping, which is why I never do it.
If you really want to get food from a certain restaurant, drive or walk to pick it up instead. You don’t need to always have it delivered. If you want to save even more money, don’t eat out as much!
14. Work out at home
If you are paying for a gym membership and not going to the gym. Cancel your membership. There’s no point in paying if you never go. If you love exercising and you actually go then definitely keep your membership! But, if you are just paying so that “maybe” you’ll go, save your money and cancel your membership.
If you follow me on Instagram, then you know how much I love my home workouts. I even have an entire blog post rounding up all of the best free at-home workouts that will tone, sculpt and burn fat! Personally, I’ve been doing BBFIT by Bailey Brown and I’ve seen incredible results. She has some awesome YouTube videos too that you should check out!
15. Alter your plans to be more *budget* friendly
If you are planning to go out to lunch with a group, plan a picnic instead (when it’s warmer obviously)! Or go on a hike or a bike ride, host friends for a game night, etc. There are so many free activities that you could do with your friends that aren’t going out for dinner and drinks. You could even suggest making dinner at home! No matter what, there are tons of free activities to do in any city, so try Googling free activities or events to do in your specific area. I guarantee you’ll find so many ideas.
Okay so there you go! If you’re looking for new ways to save money, try using some of these tips! Most of these are very simple and require only minor changes to your spending habits. Little changes that will have a big impact!
If you’re looking for more ways to save money, click here to read the 9 money saving and spending tips that I live by!
{Related Post: Pay Back Your Student Loans Faster with These 8 Tips!}
