Get Tips on How to Save Money in Your Daily Life

Saving Money in Small Ways Can Add Up

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Looking for more ways to trim a few bucks from your budget? Check out these tips that will help you save money in your daily life.


  1. Budget! It is the cornerstone of all savvy financial planning. Use these worksheets to guide your spending and saving habits.
  2. Along with budgeting, make sure you track your spending, so you know how much is going out and coming in each month. 
  3. Cut many "extra" expenses. Paint your own toenails instead of getting pedicures. Brew coffee at home rather than buying coffee out. I know "stop buying lattes" is a cliche, but it's become a cliche because it strikes a chord with so many people.
  1. Bundle your errands into one long, massive trip per week so that you can save on fuel costs.
  2. Reduce the amount that you dine out. It alone can save you $100 per month or more.
  3. Use the library instead of the bookstore. (Yes, the Kindle lending library counts!)

Paying Off Debt

  1. Clear all debts as soon as possible. You'll save hundreds or thousands on interest.
  2. If you're a homeowner, crunch some numbers to see if you can lower your monthly payments by refinancing your mortgage.
  3. If you're paying mortgage insurance (PMI), and you think you have enough equity to waive the PMI, call your lender to start that process.
  4. Pay off debt using the avalanche method to save more money on the interest you'd be paying. 
  5. If you're in credit card debt, call your creditors and ask them if there's any way they can lower your APR (interest rate).


  1. Buy groceries in bulk at wholesale stores like Costco or Sam's Club.
  1. Shop at garage sales, thrift stores, eBay and Craigslist.
  2. Check prices online before buying something at a retail store, and check for coupon codes.

Recurring Costs

  1. Minimize your cable/satellite TV and internet packages. Do you really need 500 channels? Switch to SlingTV or Netflix or Hulu.
  2. Reduce your cell phone minutes to the lowest amount you need. Set an automatic calendar reminder to check your minute usage 4 days before the bill is due, so you can change your plan to avoid overage charges.
  1. Plant shade trees around your house to help you save on the cost of air-conditioning.
  2. Plug appliances into a power socket. Flip the socket switch off whenever you're not using one of those appliances. You'll save on the cost of 'phantom energy' -- the slow drain of energy that comes from keeping things plugged in.
  3. Join a gym only if you'll use your membership regularly.
  4. Take shorter showers.
  5. Keep your home a little hotter in the summer and a little colder in the winter. You don't need to go overboard -- simply turn the thermostat up by an extra 4 degrees in summer and down by an extra 4 degrees in winter.
  6. Put an insulation blanket over your water heater. It prevents heat from escaping.

Money-Saving Tips for the Future

  1. Teach your kids about money. Let them earn money for chores -- 50 cents for this, $1 for that. Help them save their chore-money for the toy or video game that they want.
  2. Caulk and weather-seal all the drafts and gaps around your doors and windows.
  3. Sell or trade your gas-guzzler for a more fuel-efficient vehicle. If you live in an area with good public transit, commute on the subway or the bus, or consider becoming a one-car family.
  4. Service and maintain your car. It may feel like an extra expense, but you'll save big bucks in the long run.
  1. Use a bank with decent APYs, so the money that is sitting in your account accrues more interest over the year. 
  2. Keep copies of your receipts in an envelope or file folder, organized by store or by month. You'll need these if anything breaks.