Take just a few minutes to think about your debt—really think about it—and you’ll no doubt begin to feel overwhelmed.
It’s weird, isn’t it? You might spend years swiping credit cards and signing for loans without a moment’s hesitation. And then one day you wake up with a gasp and a realization:
I have to get rid of all this debt!
But like most things that take time to build up, paying off debt doesn’t happen overnight. Thankfully, you’re not alone. Plenty of folks in the EveryDollar community have been right where you are.
And we’re here to offer you the best method for getting rid of debt faster and easier than you ever thought possible: the debt snowball.
The Debt Snowball Explained
Picture a snowball rolling down a hill at high speed. It starts small, but with each turn down the hill, it adds another layer of snow, growing larger and larger and gaining momentum. By the time the snowball reaches the bottom of the hill, it looks more like a boulder than a ball.
This is the theory you’ll apply to paying off your debt. You’ll start small with focused intensity. Over time, you’ll gain momentum. You may even surprise yourself with how quickly you crush debt after debt on your way down.
How the Debt Snowball Method Works
In short, you’ll pay your debts from smallest to largest regardless of interest rate. That’s it. Easy enough, right?
Start by grabbing a sheet of paper or opening Google docs and listing all of your nonmortgage debts from smallest to largest. Remember, we’re not worried about interest rates and we’re not worried about your home loan. We’ll tackle that debt later.
Make minimum payments on every debt except the smallest one, which should be at the top of your list and your top priority for now.
Now attack the smallest debt with a vengeance. Give it everything you’ve got. You might take on a second job, start a business on the side, or sell your stuff in order to earn more money. Do whatever it takes to kick the first debt on your list to the curb.
Once you pay off the smallest debt, add the freed-up money from paying off the first debt to the minimum payment of the next to get that snowball rolling! Now you have even more money to throw at the next debt!
Work hard on your second debt while continuing to pay minimum payments on all other debts.
As soon as you say goodbye to the second debt, do what you do best: send all that money to the next debt on your list. Keep at it until you’ve crossed off every single item and you are debt-free!
Imagine what other money goals you can conquer with all your debt paid off!
Why the Debt Snowball Method Works
This approach is all about behavior modification. By seeing results fast you’re more inclined to stick with the program until the end.
The first time you ditch a debt, you’ll experience a high of sorts. You’re making progress and it feels so good! Makes sense, right? That little nagging debt is no longer a part of your life. And the idea that you just might be able to beat your other debts too starts to sound more like a reality rather than just a possibility.
And so, you tighten up a bit. With momentum on your side, you’re no longer just working an extra job, you’re also watching how often you go out to eat and thinking long and hard before buying a new sweater or saying yes to a weeklong ski trip with friends.
As your thoughts about money change, your behavior changes. Before you know it, you’ll have tons of cash freed up to tackle your debts. You might end up throwing hundreds of dollars a month toward your bills when not too long ago you couldn’t imagine finding a few extra bucks anywhere.
And we’re not the only ones touting the virtues of the debt snowball. Researchers call our approach the most efficient and effective because it works.¹
The Debt Snowball in Action
Let’s walk through a debt snowball example together, shall we? We’ll list the non-mortgage debts of our fake friend, Fred. Here they are from smallest to largest with no concern for interest rates:
$500 medical bill
$2,500 credit card debt
$7,000 car loan
$10,000 student loan
Total: $20,000
Using the debt snowball method, Fred will make minimum payments on the credit card, car loan and student loan. Then he’ll put every extra dollar he can find toward paying off the medical bill.
Let’s say he stops grabbing coffee on the way to work and sticks to the basics on his weekly grocery run. He sells a guitar, designs websites on the weekend, and finds he can put $250 a month toward the first debt on the list. Bravo, Fred!
In just two months, he’ll say goodbye to that medical bill. Feels good, doesn’t it, Fred?
The next month, he’ll continue paying minimum payments on his car loan and student loan. He’ll also add $250 toward the minimum payment he already makes on his credit card debt. So if he was sending $125 a month to the credit card company, he’ll now be able to pay $375 each month.
In just six months, he’ll kiss his credit card debt goodbye for good.
By now you know the drill. A car payment of $300 becomes $675 for a while until there’s nothing left. And his student loan lender won’t know what’s happening when Fred starts forking over a total of $800 each month for the privilege of parting ways.
Imagine a $20,000 debt gone in just two years! Of course, we’re not here to play pretend. Our fake friend’s future can be your reality!
By using the debt snowball method you’ll free up your finances, so you can focus on bigger and better things, like retirement, vacations, and giving.
First up, truth: In what area of the budget are you most likely to overspend?
Pretty sure we can all answer that one together: food—especially restaurants. Going out to eat has a way of burning through money like no other expense. After all, we have to eat.
Of course, when we’re hoping to reach our big money goals—like saving for a dream vacation or paying off debt or buying a new home—busting the restaurant budget ends up being a real bummer in the long run.
Which brings us to the dare portion of our game. We dare you to take action. We dare you to save more money by sticking to your restaurant budget for the next three months. Don’t worry—we’re here to help with five easy ways to stay on track.
1. Set the right expectations.
This is the month you’re finally going to say no to blowing the restaurant budget. That means you may not be able to swing by the coffee shop on your way to work, accept last-minute lunch plans with friends, and take the kids out for pizza after soccer practice.
So go ahead and set up a few boundaries in your brain. Remind yourself often that the food you make at home is just as filling to the stomach (and way more filling to the wallet) as what you’d buy out.
2. Consider your personal preferences.
What do you love about going out to eat? You may enjoy spending time with friends, trying new and exciting restaurants, or relaxing while someone else does the work for a change. With these ideas in mind, consider how you might best utilize your budget.
In order to make your restaurant budget last, you could split a meal with a friend, eat at recommended hole-in-the-wall spots, or make sure to bring home leftovers for lunch the next day. Or you might save your restaurant stash for splurging on fine dining once or twice a month. That’s the beauty of the budget: You’re in charge!
The calendar is your restaurant budget’s best friend. Trust us on this one. At the start of each week, take a look at what you’ve got going on.
Do you have dinner plans with friends on Friday? Does it look like you’ll need to snag lunch out in the midst of a crazy Saturday? Eat at home the rest of the week, and you’ll be set! Or pack yourself a meal for Saturday lunch to make room for a Sunday date with your spouse.
4. Cut down on convenience buys.
Perhaps the biggest drain on our restaurant budget comes from convenience (and impulse!) buys. You know the type: easy drive-through orders, last-minute pizza deliveries, and the inevitable “I don’t feel like cooking” dinner at the local Mexican restaurant.
Stave off decisions based on hunger or convenience by keeping quick snacks in your car (things like peanut butter crackers and healthy granola bars) and previously made meals or even frozen pizzas in your freezer.
5. Make your restaurant budget last all month.
There’s nothing quite worse than spending your entire restaurant budget in the first two weeks of the month. It makes the rest of the month feel like a restaurant famine. Even the most committed among us are bound to break the budget in times like these.
Keep some money in reserve for the end of the month. If you find that you’re getting low—let’s say you have only $20 left with 10 days to go—challenge yourself to eat at home as long as you can. Until you spend that last $20, let your dinner daydreams carry you.
When you were young, you probably believed in the tooth fairy: a spritely creature with an affinity for enamel who fluttered in and traded quarters for dislodged teeth.
You’re all grown up now and put those flights of fancy behind you—yet maybe you still hope for a budget fairy to track your expenses, update your spending totals, and set up next month’s budget categories.
Nope. This is the real world, with adult teeth and adult financial responsibilities. One of those responsibilities is closing out your monthly budget. Even though that sounds overwhelming or like one more task to clutter your to-do list, it isn’t that bad. We promise.
If you want to know how to close out your monthly budget, you don’t need magic. You just need to follow these six, simple steps.
Mid-Month Actions
Step One: Go ahead and create next month’s budget. You’re not going to fine-tune it yet; you’re just copying it over.
Why now?
At this point, your budget hasn’t gone too crazy with all the adjustments you need to make throughout the month. So just copy over your current budget. Later, you’ll refine it for the upcoming month’s specific needs.
Step Two: As you’re tracking your expenses, now’s the time to see if any totals need to be tweaked. Did you pay the electric bill, but all your energy-conservation speeches to the household created a lower payment than you budgeted for? Change your planned amount to what was actually spent!
Why?
Because life has a way of balancing out. And just as sure as the electric bill goes down, the water bill goes up. Blame the stressful week that meant the need for three detoxing bubble baths. Or stop blaming anything and just keep on budgeting. So, you have to change the water bill’s planned amount—it’s okay!
We know some of you are gasping in utter indignation right now and thinking: Change the planned amount? But it was the plan. And plans don’t change.
Just like life, the phases of the moon, and the cuteness of child actors—budgets change. If you’re able to properly estimate every single budget line amount in your entire budget, you might want to try out for America’s Got Talent because you have an act ready for Vegas.
If you’re like the rest of us, you try to get really, really close—based on the last couple months of expenses and what you know might change in the upcoming month. But you’re rarely spot on, unless it’s a stable bill like your streaming services or your ribbon-dancing class tuition.
You want to keep a zero-based budget, so you’re going to alter the planned amounts when they don’t align with the actual amounts. Keep doing this until you get back to zero. Then you’ll be able to see where the spending needs to slow down to make up for anything that was more than you’d bargained for.
End-of-Month Actions
Step Three: It’s time to tweak those totals again! We know some EveryDollar users prefer to tweak throughout the month. Our recommendation is to adjust as needed at least twice a month, but the more the merrier!
Step Four: Is there extra cash? Bravo! Do the running man in your kitchen and high-five the nearest person or pet. Then send that money on its way to make a money goal happen. Pay extra on debt. Build up that emergency fund. Whatever Baby Step you’re on, you’re hitting it harder this month. We’re so proud!
Step Five:It’s time for a reality check.
As you close out your budgets over the months, you’ll start to notice a few spending trends on your part. But there’s a difference between, “The kids had some sport or musical practice every night for two weeks, so we ate out too much this month,” and “Wow, we’ve been living that restaurant lifestyle pretty hard for a while now.”One indicates an off month. The other indicates an off priority. You’ll probably need to spend more time on your meal planning and less time in the drive-thru.
What budget lines were set on unreasonable or unrealistic plans? They need to be changed next month. What budget lines were blown because of poor planning? Those habits need to be changed next month as well.
Step Six: Armed with all that learning—and the commonly missed budget items we email you each month—you’re ready to review, revise and revamp the next month’s budget.
That’s it. Follow those six steps, and you’re ready to move from one month to the next.
You have your list in hand, your reusable bags in the car (you finally remembered!), and a pre-budgeted amount to spend. But as you’re checking out, the dollar signs keep on coming. By the time you’re done, you’ve paid $30 more than you budgeted.
Don’t worry. There’s probably an easy fix!
Look back at your receipt and scan for non-food items. Did you buy shampoo? Toothpaste? What about dishwasher tabs? An impulse magazine at checkout?
These shouldn’t be coming out of your food budget in the first place. That’s great, you say, but you can’t go back in time and separate your items at the check-out with those handy divider sticks! You’re right. But you can do something much easier: split your transactions.
Simply make a habit of revisiting your grocery receipts and putting everything in its proper place. That way, you have an accurate picture of how much you actually spent on groceries.
Here’s what we mean: Drop that $12 you spent on shampoo and toothpaste into the toiletries budget. Move the $14 you spend on dishwasher tabs into the household budget. And place that $4 magazine in your fun-money budget.
In a matter of a minute or so, you’ve got $30 back in your food budget!
That’s way less time than it would take to divide up your items and pay for them separately. Imagine the glares you’d get from the people in line behind you. Yikes.
After you start splitting your transactions on a regular basis, you may discover you’re still spending a lot on non-grocery items. Here are three suggestions for scoring those items for less:
Try the dollar store. The dollar store is a great place to get household stuff. Think soap, dental floss, birthday cards and hairbands. Keep an ongoing list of what you need throughout the month and hit up the dollar store once or twice. You’ll still need to split your transactions, but at least they’ll be way cheaper!
Make your own. You can make affordable cleaners with items you already have on hand, like baking soda and lemons. Some vinegar, Dawn dish soap, and water in a spray bottle will keep your shower sparkly clean.
Buy in bulk. Another great money-saving idea is to buy in bulk from Costco or Amazon. Consider purchasing your paper towels, paper plates and toilet paper in one big shopping trip (or online order). The more you can buy at a time, the less you generally pay.
Your budget should put you in control of your spending. So if your grocery bill is higher than you’d like, try splitting your transactions or even buying non-food items elsewhere. When your budget works better, your life gets easier. And that’s a win in our book!
Sometimes it’s worth paying a higher price for a name-brand product. Maybe you like the taste of a particular food or you want a certain brand of baby diapers—we totally get that.
But what about those items you hardly think about, like trash bags or sugar? You could save a hefty amount, possibly to 20–30%, by purchasing the generic version instead. You probably won’t even notice a difference in your daily routine. Plus, that extra money can make a big impact on your budget.
Sound too good to be true? It’s not, and here are 10 ways we can prove it to you. Next time you go shopping, look for the generic versions of these items.
1. Paper products. Having a cookout or taking birthday treats to share with your co-workers? That’s the time for paper plates and plastic cutlery. It’s also the time to save money by buying the generic versions. You spend your time enjoying the meal, not thinking about the napkin you clean up with. Remember, it all ends up in the trash can anyway, right?
2. Medication. The FDA requires generic medicines to use the same ingredients and go through the same tests as the name-brand meds. They are just as safe and effective. In fact, from 2005–2010, pharmacists went from prescribing generics 49% of the time to 71%. Use generics to get rid of that headache and save money. That gives you two reasons to feel better.
3. Cleaning products. You don’t need a bald guy with a pierced ear or some scrub bubbles to clean your house effectively. Like medication, the same ingredients can be found in name-brand and generic floor cleaners, dishwashing soaps and detergents. There may be some slight differences, but not much—certainly nothing that warrants spending a lot more.
4. Trash bags. Commercials talk about how trash bags need to be Hulk-strong so they can handle heavy loads. What are you throwing away, a pile of bricks? Buy the generic brand and empty your trash before it overflows. That way you’ll throw out only junk, not your money.
5. Condiments. In a 2009 Consumer Reports study, 29 brand-name foods went up against their generic counterparts. Of the 29 pairings, 19 generic items scored “equally good” in the blind taste test. Even better, store brands cost an average of 27% less than big-name brands. If your cheeseburger in paradise always comes with Heinz 57, try a blind taste test with store-brand ketchup.
6. Pantry staples. Everyone needs things like flour, sugar and salt in the kitchen. But no one will notice if you prepare your meals using generic brands. In fact, even chefs at restaurants believe in generics. A 2014 study found that chefs were much more likely than non-chefs to buy generic! Also, have you ever met anyone who took a bite of your home-cooked dinner and said, “Wait a minute—you didn’t use Morton’s salt!” Yeah, neither have we.
7. Toppings. Who doesn’t love an ice cream sundae with all sorts of sweet toppings? You’ll love it just as much with generic chocolate syrup (or any other flavor) on it. Don’t forget the non-name-brand whipped cream and chopped nuts!
8. Pet food. We all love our pets. We play with them, talk to them, and occasionally put sweaters on them. A loved pet has a good life, so you certainly aren’t a bad owner if you don’t feed them the most expensive food on the shelf. Ask your vet if there’s a generic brand that that has the same nutritional value as some of the pricier options. They can tell you what works best for Fido that fits within your budget.
9. Shampoo. The way commercials talk to you, you’d think washing with anything less than designer shampoo will leave you looking like you belong in a 1980s rock video on MTV. That’s bogus, dude! Generic shampoo cleans your hair fine without cleaning out your bank account.
10. Storage bins. If you’re moving to a new house or have some books or clothes to put in the garage, buy plastic storage bins that aren’t name brand. It’s a lot better to put that extra money toward your money goals than spend it on something that just sits around.
Don’t be surprised if making the switch to generic brands frees up $50 or $100 each month. You may not notice the difference in buying generic, but your budget will!
It happens to all of us: You’re staring down an open fridge door with these words stammering through your tired brain, What on earth will I make for dinner? At this point, either everything or nothing looks good. You end up tossing together what you call a “one-pot wonder,” knowing it would make Gordon Ramsay burst into fury. Or more often than not, you throw in the kitchen towel and run to the nearest burger hut.
At the end of the month, despite the lack of food in the fridge, your grocery budget is still absolutely annihilated. How does it happen? Why does it keep happening?
We know! It’s because you don’t have a plan. But don’t worry. We’ve got so many plans, and we want to help!
Let’s start with this: We’ll show you how to save major cash on groceries each month. The next 11 tips will help you spend better, save more, and eat well.
Easy Tips to Save Money on Groceries
1. Budget first.
You don’t jump in a pool if you aren’t sure there’s water in there. You don’t go on a road trip without snacks. And you don’t spend without a budget—if you want to be in control of your money, that is.
Before you shop, set up monthly budget. How do you know what to allot for your grocery line? Pull on your inspector hat and do some solid Sherlockian detective work: Look back over last month’s expenses. What did you spend? Start there.
Now do a little math. If you budget $400 for the month, and there are four weeks, that gives you around $100 a week to spend. We picked this number because of its simple math-ness, so don’t feel like your total has to line up with our example.
And some weeks you’ll overspend or underspend—but it’s about balancing out and staying at, or under, budget by the end of the month.
2. Spend time meal planning—every week.
“P-l-a-n-n-i-n-g: Find out what it means to me.” This isn’t one of Aretha Franklin’s lesser-known hits. (Though, admit it, you sang along. Or tried to. Rhythmically, we admit it was flawed.) It’s the second-best piece of advice we have on how to save money grocery shopping.
Why does meal planning save you dough? Because intentionality breeds frugality.
Just like a budget tells your money what to do, meal plans tell your food what to do. When you know what you’ll be eating, you know what to buy. When you know what to buy, you waste less. It’s a different kind of food chain.
Set up a plan for each day of the week, each meal of the day. That doesn’t mean you’re promising everyone gluten-free, blueberry-coconut pancakes for breakfast, but it does mean you’ll have stuff on hand for morning, noon, snacks and night.
By the way: If meal planning seems like too much work, look into a service that makes it easy by providing menus and grocery shopping lists—like emeals. Once you pick your preferences, all that’s left is the shopping. And EveryDollar budgeters can try emeals for free for 14 days! Yes, seriously!
The next couple tips will help you refine your weekly meal plans.
3. Shop your pantry, fridge and freezer.
As you’re plotting what you’ll be preparing, check your kitchen. Are there meatballs in the freezer, noodles in the pantry and salad in the fridge? You’re just sauce and garlic bread away from an easy American-Italian night. Build what you’ll cook on the foundation of what you already have.
4. Consult your social calendar.
You’ll also want to think about the week’s upcoming activities. A study on U.S. Grocery Shopper Trendsshares that 63% of households think eating meals together as a family is important.(1) But we all know life gets busy. With kids participating in croquet, chess club or choir, some of your nights aren’t conducive to a three-course meal. To beat the drive-thru temptation, know those nights are coming, and plan easy-to-make meals.
Even no-kid couples and singles have to deal with active evening itineraries. Look ahead as you plan.
5. Clip and click coupons.
Some people are couponing bosses. They know the stores that double or accept both a manufacturer and a store coupon. Other people don’t know what half the words in the previous sentence even mean.
And that’s fine! Both of you are awesome, and both of you can save money with coupons.
No matter where you’re starting out in the world of couponing, just know they’re a powerful and beautiful tool. Use them! You can clip paper versions, print paper versions from a store’s website, or click digital versions in your favorite store’s app. Let the coupons guide some of your meal planning as well.
6. Shop the sales.
If you find a coupon for an item on sale–you win! Pass Go. Collect the savings.
Even if you aren’t feeling that level of saving and shopping savvy, use the store sales to help you plan—especially the carnivores out there. Meat is expensive. When poultry’s priced right, plan your white chicken chili. When steak’s on sale, fire up the grill. When . . . you get the picture. Take advantage of weekly store ads. And make sure you know the start and end dates of those specials. Some stores restart on Sunday, others on Wednesday. There are few things as saddening to a grocery shopper as missing out on the perfect BOGO.
7. Go generic.
Many off-brand and name-brand products have very few differences. That’s not true for everything, of course. You can be a brand snob—about a few select items. But there are plenty of things you should buy generic. Don’t spend more because you like a label or know a name. Sometimes you like a look and have heard a name just because that company spent more on design and marketing—not because they’re delivering a higher quality product.
And never think we’re telling you to buy junk. You can be healthy and thrifty. You just have to be purposeful in your purchasing.
8. Stick to your list.
It’s time to be firm. With yourself. Are you ready? Practice saying these words in your head: It’s not on my list. Remember that carefully crafted grocery list, guided by store sales and coupons? That list helps you avoid the pitfall of “but it’s on sale!” If it’s not on your perfectly planned list, don’t buy it.
If you realize you legitimately forgot something you needed (because we all do!), that’s fine. But grocery shopping is no time to go off script.
9. Eat before you shop.
You’ve heard it before because it’s true: If you shop hungry, your stomach will steer your spending. Suddenly, even bags of pickle-flavored jellybeans look appetizing. We’re friends, right? Well, friends don’t let friends shop hungry. Snack before you shop.
10. Communicate with your spouse or roommates.
If you aren’t talking about what you’re buying with the other people in your house, you could easily end up with multiples upon multiples. Of course, you might prefer having separate items for each roommate—but you probably don’t need three gallons of milk in a two-parent, two-kid household. Probably.
Plus, if you’re planning to make enough beef bourguignon and chocolate soufflé for everyone, you’re going to want everyone to know. That way you aren’t interrupted and irritated by a pizza delivery scheduled by a well-meaning, yet uninformed, family member or friend.
11. Carve out the appropriate amount of time to shop.
Never shop when you don’t have time to shop. That seems nonsensical, but we all do it. Adulting is hectic. We squeeze every to-do item in between another to-do item. Grocery shopping can be the same. But if you don’t go in with a list and a plan—with the appropriate amount of time to get everything on that list—you’re setting yourself up for failure.
And not only do you need enough time to shop, you need the right time of day as well. Nothing says flustered-therefore-forgetful like a bustling grocery store. If you’re able, shop at non-peak times. You don’t want to have to stick your hand through a crowd and grab whatever bottle of salad dressing you can. That’s how you end up at home with overpriced, limited-edition, nacho-cheese-flavored ranch. A clear mind and clear aisle mean the ability to compare prices and brands.
12. Always track your expenses.
Last but not least, track those expenses! After you load up the car, pause momentarily before pulling out of the parking lot and enter that total in your EveryDollar grocery budget line! Oh, and don’t forget to split those transactions—otherwise your makeup remover or beard oil will spill into and wipe out your grocery budget. Tracking what you spend is the only way to know what’s left to spend! Knowing what’s left, and not going over, is how you call the shots with your money!
We’ve got a lot more tips and tricks in our Complete Guide to Grocery Savings. Check it out if you’re into free advice that could save you tons of cash.
And remember our number one step in saving on groceries? Budget first. So . . . start now!
Meal Planning Saves Time, Money and Sanity. Here’s How You Can Make It Happen in Your Home.
Ever follow an Instagram account just to see regular posts of amazingly perfect food photos? Yeah, us too!
Add in all those time-lapsed videos of the cooking process, and you’ll be salivating before your kids can interrupt to say, “What’s for dinner?”
But there’s food fantasy and then there’s reality. And while almost no one can whip up dinner in 60 seconds flat, you can make the journey from store to table a whole lot easier with meal planning.
What Is Meal Planning?
A meal plan is like a budget for your food. You decide up front and on purpose what you’ll eat for dinner throughout the week. You can have pizza seven nights in a row, go out to eat on odd-numbered days, or cook every single meal at home. It’s totally up to you!
Meal planning done right can change the game for both your family and your budget. Read on to learn how.
Three Reasons to Give Meal Planning a Try
Meal planning offers a kitchen trifecta by returning a sense of chill to your afternoon, dollars to your pocket, and joy to your cooking. We’ll prove it:
1. Meal planning saves time.
At the start of each week, you’ll spend about 30 minutes planning for the next seven days. That’s probably more time than you’re spending now, but by working a bit more on the front end, you’ll save tons of time on the back end.
Imagine going home in the evening and knowing exactly what needs to happen to get food in the mouths of your people. Imagine no more running to the grocery store after a long day or brainstorming last-minute ideas with an open fridge door and a sad, sad pantry. Planning ahead saves time!
2. Meal planning saves money.
Get organized before you hit the grocery store, and you’re less likely to buy food you don’t need. Do some recipe research, make a list, and come up with a grocery game plan. By planning, you’ll get full use of the ingredients you do buy and won’t end up throwing food away. What could be more convincing than that?
Maybe this: Get frugal with your grocery budget, and you could reduce the amount of money you spend on food each month. That means more of your hard-earned cash can go toward financial goals like paying off debt, building an emergency fund, saving for a vacation fund, or even enjoying more date nights with your spouse!
3. Meal planning saves your sanity.
Now that you’ve planned ahead, you can come to the kitchen totally prepared. You can even challenge yourself with a new recipe or invite your kids to join in as you whip up a family favorite together. Put on a little music, listen to a podcast, or chat with your crew as you relax your way to dinner.
There’s no reason Instagrammers should have all the fun! Cooking really can be a joy.
How to Create a Meal Plan That Works
Think back to your elementary or middle school days. Did you ever write a how-to paper on making a peanut butter and jelly sandwich or brushing your teeth? You could produce a PB&J with zero help from mom or dad and brush your teeth with your eyes closed—but putting all the steps down on paper took a little thought and effort.
It’s the same concept with meal planning. Getting a plan down on paper might look intense now, but it’ll feel like second nature in no time.
Your Step-by-Step Guide to Successful Meal Planning
Grab your calendar, a notepad and a pen and head to the kitchen (or use your phone!).
Decide when you’ll shop for groceries. Write this day down as the start of your meal planning week.
Consult your monthly budget to figure out how much you can spend on food each month. Divide your total grocery budget by four. Write this number down as your weekly spending limit.
Take a look through your pantry, fridge and freezer. Make a list of any items that are expiring soon or could be put to good use in the upcoming week.
Peruse your favorite cookbooks, food blogs, Pinterest and family recipes for meals you’d like to make. To make research easy, we love getting ideas from eMeals!
Take a look at the list of items you already have on hand and compare with the recipes you would like to make. Look for crossover—any place where what you already have can be used toward a meal you’d like to make. Circle those ideas.
Check your calendar and make note of any dinners already on the schedule, including meals out with friends or date nights.
Plan your meals for the week ahead. Your notebook should look something like this:
Sunday: Chicken sausage with sweet potatoes and brussels sprouts
Monday: Spaghetti with meat sauce
Tuesday: Dinner at the Smith’s house
Wednesday: Leftovers
Thursday: Black bean tacos
Friday: Pizza night!
Saturday: Cookout at Mom’s house—bring potato salad
Make a grocery list based on your meal plan. (Double check your kitchen for items on your list and mark off what you already have. Don’t forget to check your spice cabinet!)
Shop for your groceries, come home, put them away, and bask in the knowledge that you just did a good, good thing.
More Meal Planning Tips
In all the excitement of creating your first meal plan, you might forget a few key things. That’s why we’re here to remind you!
Keep basic breakfast, lunch and snack items on rotation in your grocery list. We eat three square meals a day around here. And chances are, you do too. An easy place to start is to focus your meal planning on dinner, but that won’t be enough to get you through the week. Remove decision fatigue by eating mostly the same foods for breakfast, lunch and snack.
Leave room for leftovers (and life) in your weekly plan. You won’t finish every meal you make, and that’s a good thing! Build leftovers right into your schedule to cut down on food waste. You might also want to make allowances for days when you’re just too tired to use any appliance but the microwave.
Don’t complicate dinner. Ditch the idea that you need full-on recipes for every meal. Grilled cheese, tacos, spaghetti, a simple pizza, and meat with a veggie and potato are all easy and delicious.
Fine-Tune Your Meal Plan for Greater Savings
If you really want to see more time in your day and more money in your budget, take it to the next level. Make an Instagram-worthy meal plan by following these tips:
Stock your pantry, fridge and freezer with staples. Think long-lasting, flavorful or nutrient-dense items like rice, pasta, canned beans, canned tomatoes and sauce, chicken broth, frozen veggies, minced garlic, butter, milk, eggs, and grated parmesan cheese.
Keep a running list of favorite meals. Whenever dinner’s a hit, jot down the recipe title, source and helpful hints in a notebook or your phone. Make it easy and cook those meals the most!
Simplify the planning process with themed nights. Assign categories based on days. You might try: Meatless Monday, Taco Tuesday, Crockpot Wednesday, Breakfast-for-Dinner Thursday, Pizza Friday or Soup Saturday. Be sure to mix things up. For example, Taco Tuesday can look like crunchy beef or soft chicken tacos, black bean and cheese quesadillas, pork nachos . . . the list goes on!
Plan a weekly cleanout. Speaking of themed nights, this might be the best one of all! You’ll essentially plan not to plan. You can eat leftovers, a frozen meal made by you, or get creative in the kitchen by throwing a bunch of ingredients together. When you use what you already have, it means more money in your pocket and less food waste.
Try a meal planning service. Not sure what to plan? Or how to even get started? Check out e-meals for budget and family friendly meal plans.
Make it easier to stick to your shopping list.Order your groceries online and pick them up in the store or visit a bare-bones grocer like Aldi or Trader Joe’s. The best way to reduce overspending is to remove the option.
Add meal prep to your to-do list. Look over your recipes for cooking tasks you can do ahead of time. Spend an hour or two washing, chopping, baking, and boiling individual ingredients. Store prepped food in the fridge and enjoy the easiest week ever.
Double recipes whenever possible. Making two lasagnas today takes less work than making one today and another next week, right? Up your efforts for double rewards and throw that lasagna in the freezer to enjoy at a later date.
Don’t forget about your leftovers. Make sure your leftovers make it to the freezer if you won’t be able to enjoy them before they go bad. Or better yet, bring leftovers for lunch! Packing your lunch is an easy and delicious way to save money.
If learning how to save money were a sport, reading this post would feel like cheating. Why? Because we have so many money-saving tips packed into one place! If you follow enough of these, you will win with money. And because we know you aren’t here for a gripping introduction, we won’t stretch out the beginning. Let’s get right to the savings tips.
How to Save Money on Groceries
1. Meal plan.
Meal planning: healthy for your body and your budget. Create a calendar of meals for the week, starting in your own kitchen. Find out what you already have, see what’s on sale at the store, and look at recipes. Yes. All three at once. They work hand in hand (in hand). And let the first two guide the last.
Dinner isn’t the only thing to plan out. Don’t forget beverages, lunch, breakfast and snack foods. If you build your meals and grocery list around what’s on sale that week and what your pantry and freezer already offer, you’ll save more and waste less.
2. Make a shopping list.
And check it twice. Once you know your meals for the week, and what ingredients and items you already have, you can make a list of everything else you need. The best shopping lists are organized by aisle or at least store section. This keeps you from going back and forth while shopping—which is one of the best ways to get caught up in flashy endcap temptations.
3. Don’t buy what’s not on your list.
It’s time to be firm with yourself. Are you ready? Practice saying these words in your head: It’s not on my list. Remember that carefully crafted grocery list, guided by store sales and coupons? That list helps you escape the pitfall of the excuse, But it’s on sale! You knew what was on sale going in, and you knew whether you needed it or not.
If you realize you legitimately forgot something you needed (because we all do!), that’s fine. But grocery shopping is no time to go off script.
4. Never shop hungry.
You’ve heard it before because it’s true: If you shop hungry, your stomach will steer your shopping cart. Snack before you shop, or you’re sure to overspend.
5. Simplify your suppers.
Meat and three: It’s a common meal misconception. You can have a delightful dinner without using this standard practice. Not only is it often cheaper to change it up, it’s also simpler. Make a great soup in the slower cooker and serve with French bread and a salad. Now “lettuce” talk about what to do with the rest of that greenery sitting in the fridge. How about adding beans, salsa, cheese and chips for a meatless taco salad? Plus, you know that leftover soup’s going to make a lunch appearance this week.
Don’t be afraid of simpler suppers! They can taste just as fantastic as a complicated dinner but can be stretched into other meals with some careful planning—all while reducing stress and spending!
6. Sample, but don’t buy.
You can say yes to product demonstrators asking, “Would you like a sample?” But don’t forget your focus. You’ve got a list to follow and savings goals to hit. We’re all about a free sample. But don’t feel obligated to buy just because you tried.
7. Use a service.
Try an online meal-planning service like eMeals. Each week they send new recipes, including entrees and side dishes, along with a complete shopping list organized by grocery store section. (Genius!) This discourages buying unnecessary items while you shop and keeps you from going out to eat as much—because you’re actually excited about eating at home. Our favorite part? eMeals offers a free 14-day trial so you can give stress-free meal planning a try!
8. Take advantage of store incentives.
Fuel credits, reward points, shopper’s cards: Figure out which stores offer the best—as in, most useful to you—incentives. Not all are created equal.
9. Test out grocery stores.
Loyalty is a highly desirable quality in friends and employees, but don’t let your blind loyalty—or your creature-comfort tendencies—keep you going back to a grocery store that isn’t serving your budget well. As the old Motown hit explains, “You better shop around (shop shop).” Look online at store promotions. Ask friends where they go and why. Those who say they like the music selection over the loud speaker aren’t the ones to listen to. Those who say they started saving hundreds when they switched grocery storesare. With all that gathered information, step foot into someplace new. Test it in real life!
10. Order your groceries online.
Have you looked into buying your groceries online? Now you can fill your virtual shopping cart from anywhere. Check into your options: delivery or pickup. Consider the added costs. Some stores don’t charge for this service, while others do. But don’t let the fee discourage you. If you get sidetracked in the actual store, this option can force you to shop with a plan. You’ll probably save more in the long run, fee or no fee. Plus, as you fill that virtual cart, you can easily watch what you’re spending. You can delete some items or look for cheaper options before you check out, and you’ll never be surprised by the total in the end.
11. Coupon.
Whether you clip or click them, don’t forget their potential. Most supermarkets have mobile apps full of coupons that will score you great savings. Download the apps to use as you make your grocery list. Always remember—never buy something just because you have a coupon or it’s on sale. If you aren’t going to eat it, you don’t need it.
12. Be generic.
Not in your personality. In your brand choice. Many times, the off-brand and name-brand items differ very little in actual ingredients or quality. That isn’t always true. And it’s fine be picky about your favorite cereal, chocolate or coffee as long as you budget it in and plan to save in other places. But give generic brands a chance. Sometimes you like a look and have heard a name because that company spent more on design and marketing—not always because they’re delivering a higher quality product.
13. Look at price per ounce.
Which is a better deal: the 5 ounces of sour gummy bears for $2.95 or the 10 ounces for $7.95? Does it feel like math class? Thankfully, most stores do that division for you, posting the price per ounce right on the tag. When in doubt, your phone is also a calculator. Price divided by ounce equals price per ounce. Bigger isn’t always cheaper. Plus, don’t buy the larger bag of spinach if you know half of it will go bad before you can eat it anyway. That’s wasteful, not frugal.
14. Shop alone.
You know the best way to get derailed from your shopping list? Bring the kids. Even if they don’t ask for all the toys and treats they see, their sweet chitter-chattering can cause you to lose focus. Shop alone, and your ears and eyes can be on the shopping and saving prize.
15. Beware the bakery.
The smell of freshly baked bread, cakes and cookies is a temptation to all warm-blooded carb lovers. It beckons to you from the moment you walk through those automatic sliding doors. But if it isn’t on your list, don’t let this aroma lure you into unnecessary purchases.
16. Buy in bulk.
Bulk purchasing isn’t always the best way to save—but it very often is. Ask yourself these questions: 1) Can I eat it before it’ll go bad? 2) Is the price per ounce cheaper? 3) Do I have space for this larger quantity? 4) Will I use it? I mean. Really? Your answers will reveal whether buying in bulk is the best deal for you.
17. Don’t use credit cards.
The reason credit cards become such a trap is because they get us in the mind frame of spending play money—or of putting off until later the money problems of today. Even if you’re in the routine of paying off your balance at the end of each month, it’s too easy to overspend when the money isn’t actually coming out of your hand or bank account.
18. Track your grocery spending.
Once you get home from the store, or before you even leave the parking lot, enter your grocery total into your budget. Tracking grocery expenses is the best way to keep from overspending your grocery budget line.
19. Keep non-food items out of your grocery budget line.
Don’t forget to split your transactions if you pick up household or beauty items along with your groceries. You don’t want your toilet paper purchase wiping out your food budget line.
20. Get real at the end of the month.
Give yourself a little reality check as you’re closing out your budget at the end of the month. Look at what you’ve budgeted versus what you normally spend. What’s off? Are your expectations unreasonable, or is your spending? Both can be adjusted. You’ll just need to work at it. Make changes where you need to—your spending habits or your budgeted amount—for the next month.
How to Save Money at Restaurants
21. Go out early.
The early bird gets the worm, and the early eater gets the deals. Plenty of restaurants offer discounted menu options for people willing to eat outside of the normal bustling dining room hours. You can still eat at your favorite places while paying quite a bit less.
22. Have a late lunch.
Instead of dinner out, what about lunch? Eating at a restaurant before prices flip to dinner and when lunch specials are still on the table (yes, we said it), gives you that dining-out experience without the evening price spike.
23. Sign up for emails.
We know the last thing you feel your inbox needs is another promo email subscription, but the deals that come through can be worth it. Exclusive offers, reminders of routine specials, and digital coupons will pop up with no effort on your part beyond the initial sign-up. You can always unsubscribe later if the emails aren’t offering enough to make up for the inbox clutter, or if you stop craving that coconut-cream-pie-flavored donut that once drew you into the local artisanal donut shop doors in the first place.
24. Buy used or discounted gift cards.
You can purchase gift cards online with sites like Cardpool and Raise. Check out your warehouse store for deals on gift cards to your favorite restaurant, or check your grocery store for dollars-off gas cards with a minimum purchase. Cheers to a 10–20% discount!
25. Get a birthday discount.
“Happy birthday to you! Happy birthday to you! Now get all the discounts that you can accrue!” If you already know where you want to go on your special day, sign up for their online birthday club now. They’ll probably send you a buy-one-get-one coupon or a free appetizer or dessert. But don’t limit it to birthday dinner deals. Your favorite coffee or confection shop may want to celebrate your birth as well. You can live it up like it’s your birthday (because it is) without paying for all the goodness.
26. Skip the appetizer.
If your restaurant of choice offers complimentary bread or chips and salsa, you can forgo buying an appetizer. Save yourself $8 by nibbling on the free stuff before your entrée comes.
27. Drink water.
Look at any menu these days, and you’ll notice buying a beverage is the latest extravagance. You can purchase a dessert for the same price in many instances! A quick way to save cash when you’re eating out is ordering a glass of water (not bottled water, mineral water, or water gathered in solid gold buckets in the fresh springs of Iceland). Don’t drink your dollars away in tea and soda.
28. Split your meal.
Portion sizes today can get out of control. Save calories and cash by splitting a meal with someone. If it isn’t quite enough food, catch a restaurant at half-price appetizer time, add one of those into the mix, and you can fill up for less.
29. Pick places without servers.
If you love the feeling of eating out, you can also save that 18% by picking places where you serve yourself. You know, the kind where you order before you sit. You’ll still get the restaurant vibe but without the additional tip cost. Because listen—when you’re eating out somewhere with a server, you need to budget at least an additional 15% (preferably 20%) for a tip. Serving jobs often pay practically nothing, and these workers thrive on what you provide for their service to you. Saving money by skipping the tip is not cool.
30. Doggie-bag it.
Don’t throw away those leftovers! And don’t eat beyond being full. Instead, box it up and take it home. You can get two meals for the price of one!
31. Order like a kid.
If the kids’ menu doesn’t say 12 years or younger, please, then take advantage of that child portion and price. If you need a little bit more, add on a side. You’ll still come out ahead—or behind, technically—in cost.
32. Go on a Monday or Tuesday.
Having a case of the Mondays gives people the overall blahs—and apparently makes them too tired to eat out. It seems that desire doesn’t return until hump day, so Mondays and Tuesdays are both low traffic days for most restaurants—which means promotions aplenty. Take advantage of these by eating out on less popular days.
33. Avoid major holidays.
Fixed-price menus are becoming increasingly popular for major holidays. For $49 a person, you can get a three-course meal, but what if the entrée you want is only $15? Um. No thanks. If you’d like to eat out for Valentine’s Day or Mother’s Day but want to avoid the upcharge of your celebratory meal, try going out the day before or the day after.
34. Save your lunch money.
Making your lunch at home or bringing in leftovers is a major way to save serious cash. If you’re eating out for your mid-meal five days a week, you’re spending $25–60 a week. This is an easy $100–200 a month you could free up by changing one habit. It requires forethought and shopping for an adult lunchbox (or reawakening your youth with a superhero or unicorn theme). But the benefit beats the bother!
How to Save Money on Everyday Items
35. Use or sell your gift cards.
Check the back recesses of your wallet and catchall kitchen drawer. How many half-used or never-used gift cards can you find? Even the ones that have a dollar or two left come in handy—a discount is a discount! And what about all those cards to stores you’ll never shop at? Turn them into cash or cards you will use! Do a gift card swap with friends or check out the previously mentioned Cardpool or Raise.
36. Stop using credit cards.
One of the quickest ways to save money is to spend only what you actually have. Stop using credit cards. Yes, we said it before, but it’s worth repeating. On top of that, don’t be lured into taking out a store credit card. They trick you into turning today’s wants into tomorrow’s problems—or thinking the spending doesn’t really even count. The rewards they promise aren’t worth it. Don’t go in debt for coffee, haircuts, computers—anything! Stop using credit cards today, and you’ll start owning your spending habits instead of owing interest. That kind of accountability is a life—and money—saver.
37. Keep a shopping list on your fridge.
When you notice you need more toothpaste, toilet paper or tea, make a note on an ongoing shopping list. Don’t wait until the last minute for those first two—or anything, really. Quick trips out for this and that mean spending extra on this and that, plus gas. These extra outings add up. Instead, keep your eye on your items and make note when supplies are getting low. You can pick these items up on your regular shopping trip to make sure you grab the best deals.
38. Go generic.
If you want expensive hair or face products that make you look and feel your best, then work that into your budget. But just like your groceries, go generic when you can. Do you need designer dental floss? We’re guessing no.
39. Take advantage of dollar store deals.
You shouldn’t buy everything for a dollar, but some things are excellent deals, especially for gifts. A witty or motivating mug with hot cocoa and a bag of peppermints would cost you around $3. Kid sunglasses (for littles who lose and break things) plus a plastic bucket and shovel would make for a splendid beach vacay present. Gift bags or greeting cards for any occasion abound. Visit your everything-for-a-dollar store to see what items are good enough quality to make them a good deal.
40. Buy gently used clothing.
Get your thrift on! Get into Goodwill or consignment shops. Search online at Poshmark or ThredUP. You don’t have to buy new to buy well.
41. Find deeply discounted running shoes.
Go to that fancy-schmancy shoe store, get sized, try on different brands—but don’t buy. Take your newfound foot knowledge online and search for overstocks, less popular colors, or even used pairs. With all you save on those running shoes, you can buy compression socks and a couple extra sticks of deodorant.
42. Search online for promo codes.
Google, RetailMeNot.com and Coupons.com are your three new best online friends. Before you buy, search for discounts. Percentages off, free shipping, or specific-item discounts will pop up before your very eyes. It’s like pulling a rabbit out of a hat. Only better, because you don’t gain a rabbit to feed and clean up after.
43. Buy the men’s version of some products.
A study of gender pricing done in New York City shows that women’s products cost more than men’s products 42% of the time.(1) Why are women’s razors twice as expensive as men’s? Is it the pink? It’s the pink, isn’t it? Well, until they figure out how to make things pink in more cost-effective manners, consider buying the blue triple-blade option. This works with other products as well: shave gel, hair care and even plain white T-shirts!
44. Get a library card.
Know what’s better than cheap? Free! Okay, not all the time. A half-eaten burrito in the garbage is free, but not a good idea. Libraries, however, are a good idea. Check out books and movies, enjoy their programs, and sign up for eBook and audiobook options as well. Unlike that trash burrito, your free library card brings a wealth of goodness.
45. Go outside.
When we plan activities, why do we default to things we have to pay to enjoy? The great outdoors boasts incredible no-or-low-fee adventures. Take a hike, fly a kite, ride a bike. Get some fresh air and feel the wind in your hair. Eat outside, walk outside, talk outside. Nature offers oodles of opportunities for dates, family outings or even some much-needed alone time.
46. Join loyalty programs.
According to a recent report, there are roughly 3.8 billion customer loyalty memberships in the United States.(2) Take advantage of these to score deals on restaurant meals, airline tickets and more. Start by visiting the websites of your favorite restaurants or clothing stores to see if they mention perks for frequent shoppers. Of course, if you see the program involves signing up for a credit card, run quickly in the opposite direction. You don’t need that kind of negativity in your life.
47. Sign up for balance alerts.
Money spent on overdraft fees is like cash flushed down the forgetfulness toilet. If your bank allows you to set up a notification when your account is running low, do it! You can even set the amount. This free service is a great way to stop the fees before they start.
48. Make your own coffee.
If you find yourself handing over cash for coffee every morning because it’s easy or quick or delish, drop that habit for a set period of time. Buy and brew your own. You might find a new taste for savings. Or you might work fancy coffee back into your budget now and then as the treat it truly is.
49. Get creative for date night.
Think quality time over quantity spending. You don’t have to pay a lot to enjoy each other’s company. Eat out, but enjoy movie night in. Eat dinner in, then grab your dessert out. Stroll through a local thrift shop and try to find the oddest item. Download a stargazing app and enjoy nature’s night-lights. Sit around your own backyard firepit and ask questions about your hopes and dreams. Is it all sounding like a Hallmark movie? Good. That’s how you know it’s romantic.
50. Negotiate with your internet provider.
Most internet providers offer an introductory rate and then try to hike up your rate by $30 to $40 when it’s time to renew. Call them and ask if they can do better. Keep calling until someone is willing to listen and lower your rate. Be as annoying to them as their telemarketers are to you.
Download Money-Saving Apps
51. Check out cash-back apps.
Ready to kick app and take names? Start downloading money-saving apps. First, look into cashback offers like Ibotta, Receipt Hog and Dosh. You can get rewards in the form of cash and gift cards for your regular shopping habits!
52. Download those coupon apps.
Honey, SnipSnap, Target App: Each of these save you money up front by showing sales and offering coupons without the hassle of snipping and sorting—and then remembering—all those pieces of paper.
53. Don’t forget deal-scanning apps.
Try out GoodRx, ShopSavvy and the Coupons.com app to search for the best deals and prices on the things you need. And don’t forget the honey—meaning Honey, the browser extension that searches through the best coupons available for a store’s site and applies it to your cart at checkout! Sweet.
54. Save more with store apps.
Walmart’s Savings Catcher, Target, and Whole Foods all provide offers, discounts and deals for these stores. Scan your Walmart receipts into the Savings Catcher, and it searches for stores offering a lower price. If it finds a better deal, it gives you the difference. That’s price matching for the modern age. Target’s app pulls up deals you can download and scan at the register. Whole Foods teamed up with Amazon. If you’re a Prime member, the Whole Foods app brings store savings (plus an extra 10% off sale items) to your fingertips.
55. Have a heart: test out some health and wellness apps.
Whether you’re training to run your first race, trying to get cut like Mount Rushmore, or keeping an eye on your caloric intake, you don’t have to pay for a gym membership, personal trainer or wellness advisor. Just download one! Map My Run, My Fitness Pal, BeachBody, Happy Scale, Ultimate Food Diary—the options are nearly endless. Some are free, some charge a fee, but all put your path to wellness in the palm of your hand.
56. Get it together with organizational apps.
When you realize it’s time to get your life together, you might be tempted to buy a $200 planner and the accompanying supplemental stickers and motivational pages. If a pricey physical planner is your yearly spending pleasure because it helps you streamline every part of your day—then budget for it. But if you’re bettering yourself on a budget, check out Wunderlist or Grocery iQ to plan grocery lists and also remember to create your budget. And don’t forget to make use of the built-in calendar and reminder apps already on your phone!
How to Save Money on Your House
57. Downsize.
There are plenty of financial reasons to downsize. Maybe your mortgage is taking up a huge chunk of your income, your baby birds recently flew off to adult on their own, or you just don’t need a place in the center of the action anymore. If any of these apply to you, it could be time to move on. Literally.
58. Make extra payments.
Maybe it sounds counter intuitive. How does spending more on your mortgage help yousave more on your home? Because, interest. Each year you keep your mortgage, you pay more interest! If you make just one extra house payment each quarter, you can pay off your house five years sooner! So it’s the long game in savings, true, but the size of the savings is worth the wait.
59. Refinance.
People refinance when they want to pay a lower monthly payment, drop their interest rate, or switch from a longer loan to a 15-year fixed-rate mortgage. That last change might mean a higher monthly payment, but it’ll bring you into that 100% debt-free lifestyle far quicker—freeing up a huge amount of money to save, invest, give and spend on travel. Refinancing doesn’t make sense for everyone, but it’s worth looking into if you have equity in your home, an interest-only loan, a high interest rate or a mortgage with more than a 15-year term.
60. Do a YouTube reno.
It’s pretty fantastic what you can learn to do on YouTube these days—things like minor home renovations and repairs, for example! This online video wonderland comes in quite handy when you’re needing to fix a simple leak in your toilet but don’t want to pay an hourly rate for what might be a five-minute job. Please note: Certain jobs—such as electrical or structural repairs—should be left up to the professionals. Don’t risk life and limb to save money!
61. Barter for repairs.
When you do need to hire an expert, for safety or your own sanity, consider doing a trade. They rewire the lighting fixtures in your kitchen, and you tutor their kid in Victorian poetry. They replace your missing or damaged roof shingles, and you give voice lessons to prep them for their audition on “So You Think You Can Sing.” They . . . you get the idea. Barter your talents for theirs, and everyone comes out ahead.
62. Drop cable.
It’s time to break up—with cable. Pull out your best“it’s not you, it’s me” speech. Because you are ready for a better, cheaper option! Netflix, Hulu, Amazon Fire TV Stick, Apple TV, Sling TV, YouTube TV. Cutting the cable and adding in a less expensive option can save you up to $1,000 a year!(3) Now you can binge your favorite rom-com or medieval dramedy series for far less.
63. Reexamine your bills.
Chances are, you could be saving more money on your fixed monthly bills. These are easy to overlook because you’ve probably paid the same amount every month for what seems like forever. But are you missing out on special rates for your cell phone? Internet? What about your monthly gym membership—could you walk around the neighborhood instead? Call and ask for deals and do some old-fashioned negotiating. You never know if you never ask.
64. Switch insurance agents.
Most people set up their homeowner’s or renter’s insurance and leave it be. But insurance isn’t a slow cooker, and you won’t have a meal at the end of the day if you leave it be. Things change. Check in on your insurance. Be sure to talk to an independent insurance agent. Their loyalty is to you, not a specific company, so they’ll shop around until they find the best fit and rate for where you are in life. You can save hundreds a year with minimum effort.
65. Be more intentional with your utility use.
Be intentional isn’t just a motivational phrase to be more present in the moment and thoughtful in your choices. It’s also a lesson to live by with your utilities. Turn off the light when you leave a room. Wash your clothes in cold water. Only run the dishwasher when it’s full. Change out your air filters. Adjust the thermostat when you leave the house. Little changes can add up to big savings.
66. Upgrade to energy-efficient appliances.
As you replace your appliances, consider upgrading to more energy-efficient models. These save energy (hence their name), which —in turn—saves you money! If this seems like too large an investment right now, start small. Replace your lightbulbs with ones carrying the ENERGY STAR logo, and you can save about $75 a year.(4)
How to Save Money on Transportation
67. Gas-Saving Apps
GasBuddy searches your local area to find the cheapest gas prices around. They even have a GasBuddy card that links to your checking account. (So, not a credit card, of course.) When you use it, you save every time you pump.
68. Rideshare Apps
If you want to save money on transportation, look into Hytch, Swift or NuRide. These reward you for carpooling! Not all states have the same offerings, so find out what’s available to you.
69. Stop making car payments.
Did you know there are about 100 million auto loans floating around out there today, totaling about $1 trillion?(5) Our next tip is not tobe one in a million. Or, specifically, one in 100 million. The number one way to save money on your ride is to eliminate your car payment. With the average car payment being $525 per month, that’s a lot of savings to be had.(6) A good rule of thumb is this: If you can’t pay off your car in two years or less, sell it. Use the profits to pay off the remainder of your loan and buy a cheaper car in the meantime. You can always save for your dream car down the road.
70. Pay cash for your next vehicle.
Instead of $525 going to a car loan, save it up! In a year, you’d have $6,300. In two, you’d have $12,600. Save until you can pay cash for your next vehicle—then you’ll own it instead of owing someone for it.
71. Save on auto insurance.
You could have an outdated policy—or worse, you could be overpaying. Independent insurance agents can shop and compare policies from several companies to find the right coverage at the best price. Amy from Tennessee was able to save $600 a year when she worked with an independent agent. That’s worth a couple phone calls and some paperwork!Find a local independent insurance agent in your area to see how much you can save.
72. Get gas rewards.
Your grocery store may offer discount gas cards or reward points. If you’re picking up acetaminophen and triple chocolate ice cream, take advantage of this! And don’t forget to use your points when you get your gas. Or else, what’s the point?
73. Shop around for repair work.
Don’t rely on the dealership to do the work. Ask your friends and family for a reliable, honest mechanic in the area. And before you give the go-ahead on repair work, get a quote and perhaps a second opinion from another mechanic.
74. Carpool when you can.
When you’re able—ride with others! Most people think only of the drive to and from work or school when this topic arises, but piling into a van together to get to girls’ night out saves gas and provides the opportunity for some quality car conversation and seat dancing.
75. Check out public transportation.
Save mileage on your car and gas money by using a bus or train. A monthly pass costs less than a month’s worth of one-day tickets, and they’re easier to track. Plus, when you aren’t driving, you can spend more mental energy focusing on your favorite podcast, planning your next birthday party theme on Pinterest, or even reading through the classics. Save money and free up some mind space.
As you’re working through some of these, remember: The first step to saving is having a plan for your money. That’s what EveryDollar’s here for! This budgeting app will reveal your spending habits and help you reach each saving milestone. And—it’s free! Sign up today and show your spending who’s boss.
This is the first post on my new blog. I’m just getting this new blog going, so stay tuned for more. Subscribe below to get notified when I post new updates.
Finance Blog 