Buy staple ingredients instead of pre-made meals. You will be able to make much more food for much less money, for instance, by buying a bag of uncooked rice than by purchasing microwaveable rice bags. If you eat large portions, cutting down a little can save you money. Try to save part of the meal for later. Freeze leftovers if you won’t eat them right away. [1] X Research source Try new flavors and spices. A fish fillet or chicken breast can become a more exciting dish with a novel sauce or seasoning. Try a spice you are unfamiliar with, or a condiment from an Asian, African, or farmer’s market in your area.
Don’t shop while hungry. If you make a weekly menu, use that to draw up your shopping list. Stick to the menu during the week. Use coupons. A great way to save money is to find store or product coupons and then plan your meals around them. [3] X Research source If there is an excellent sale on meatballs, consider a meatball sub night. If you find a coupon for bread, it’s time for bread pudding or French toast.
View the menu before you go to dinner. Otherwise, you may feel “put on the spot” if prices are more expensive than you anticipated. Take home your leftovers, and turn one meal into two. Look for restaurant specials. Some places offer free or discounted kids’ meals. Others may offer daily specials or discounts for police, senior citizens, or active military personnel. Drinks, especially alcoholic ones, can be the most expensive part of a meal. Cut down on beverages, and you will save on your restaurant bill. Drink water.
Make sure you take your supplements, or you could get deficiency diseases.
Split a membership with a friend. Wholesale stores usually have a small membership fee, and if you split the fee with a friend, it will be worth the money. Another option is to start a food co-op with nearby families. You can save money by combining purchases and buying in bulk. See how to start a food co‐op for more information.
In the U. S. , you can apply for SNAP, the federal Supplemental Nutrition Assistance Program, [5] X Research source or apply for state assistance. Often income requirements are more lenient than you might expect, or there are sliding-scale options to provide partial funding.
Move closer to work. This could save you money on housing and transportation. Look up prices in various neighborhoods through websites like Zillow. While you’re at it, look up your own neighborhood. You may find you’re paying too much where you live now. [6] X Research source
If you’re able to, ask your landlord if you can pay for a full year upfront. They may discount the total price by a month or 2. [8] X Expert Source Samantha Gorelick, CFP®Financial Planner Expert Interview. 6 May 2020.
Buy a bank-owned property. These homes have typically been foreclosed upon, and the bank doesn’t want to hold them, so they may auction them at less-than-market value. Consider refinancing your mortgage if you’ve held it for several years. You might be able to find a better interest rate. [9] X Research source To keep your long-term costs down, retain the original payoff date, but the lower interest rate will reduce your monthly payment. Consider a micro-house. These homes are short on space, but they’re easier on the wallet. In the U. S. , the most popular micro-housing company, Tumbleweed, allows you to pay around $6,000 down and make monthly payments of less than $500. [10] X Research source
For instance, you can apply for affordable and middle-income housing in Manhattan, NY, though you might end up on a waitlist. [12] X Expert Source Samantha Gorelick, CFP®Financial Planner Expert Interview. 6 May 2020.
If you have a computer, use an HDMI cord to display it on your TV (even if you just want to listen to music). The NBA offers “League Pass,” a streaming service for basketball fans who prefer not to use cable. Check your area for blackouts, but this can be a great way to watch live basketball without cable. [13] X Research source Similar passes are available for other sports, such as the NFL’s “game pass. "
Just hanging thick curtains to keep heat inside your home overnight, caulking gaps in windows, and placing a blanket against the air gap below an external door can save you money on heating. [14] X Research source Replace furnaces, heaters, appliances, windows, doors, insulation, and other parts of your home with energy-efficient alternatives. These investments can be expensive initially but will pay off over time.
Never leave refrigerator doors open or run a less-than-full dishwasher. Use laundry equipment for full loads and not just a few items. Even these small steps will increase your energy efficiency. Switching to more efficient appliances can further reduce your costs over time. See how to cut down your electricity bill for more information.
Use one electronic device at a time. Don’t leave the TV on when you are on the computer.
In an energy-independent home, you’ll have power when everyone else loses theirs. You don’t even need a huge amount of sunlight to make a solar system pay off. Solar panels are extremely popular in Germany, for example, which sees less sun than Seattle (which has 200 or more rainy days per year). Installing solar panels on an average American home usually costs around $10,000. You can get a bank loan and tax write-offs for doing so. [16] X Research source In some cases a power company may even pay you for your extra electricity if you make more than you use. However, this is only a viable option if you will actually save money in the long run. See consider installing a renewable energy system for more information. Alternately, you may be able to switch energy providers and get a lower rate. This option is only available in deregulated markets, however.
You might find, for example, that the community center shows a popular movie on Friday nights or that there’ll be a free music festival in the park next weekend. Donation-based yoga classes are available in some areas. Many cities sponsor free art exhibits once or twice a year. Museums may offer free admission every so often.
Try the classic games (Life, Monopoly, Sorry) as well as newer ones (Apples to Apples, Settlers of Catan, Ticket to Ride, etc. ). You and your friends can have a weekly Game Night and rotate it among your homes. Cards Against Humanity is another good money savers option because it’s available for free download at home. This game may not be appropriate for kids (or extremely polite society), but many people find it exceptionally entertaining.
Start with easy-to-read classics, like Harry Potter and Game of Thrones, if you’ve been away from the literary world for a while. Get a library card. Borrow books for free. With the appropriate reading device, you can borrow e-books for free. Cheap, used books are available online and at many bookstores. Additionally, many older books in the public domain are available for free and can be read online or downloaded to an e-reader.
Carefully choose where you stay. Check out hostels, Airbnb rooms, and campgrounds to save on lodging. Plan your travel in advance to save on the cost of tours. Planning ahead will make the trip more fun, and you will be more knowledgeable about the location when you get there. Travel during the “offseason,” when flights are cheapest. You can research your tickets, find good deals, and buy at least six weeks in advance so that even if you are traveling during the busy season, you’ll pay less than regular price. [17] X Research source
Look for specials like “All coats 1/2 price on Tuesdays” or “Everything with a pink tag 50% off. . . " etc. Remember that anything you buy on sale is a bargain only if you were already planning to purchase it. Before making a purchase, always research your options online to make sure you’re getting a good deal.
Using public transportation, it will probably take longer to get where you want to go, but you can use that time to drink coffee, read the news, check your email or talk on the phone. A monthly bus pass is usually cheaper than a tank of gas, to say nothing of car payments, registration, insurance, maintenance, and repair. Try biking or a combination of biking and public transport. Most modern buses and trains allow you to transport your bike, so you can combine the two to make your trip as quickly as possible. Biking helps you exercise and saves you money on gas. Consider getting an electric car or trading your car in for one that is smaller or that you can buy with cash. Each of these options can save you money.
While you’re at it, take a close look at your bank statements, too. [21] X Expert Source Samantha Gorelick, CFP®Financial Planner Expert Interview. 6 May 2020. Credit card companies and online banks offer a feature that will summarize your spending for a given period of time, based on the names of the businesses where you spend money. If you don’t use debit or credit cards, keep a careful accounting of your monthly expenses. For example, keep track of your food spending, both at the grocery store and at restaurants.
Include a target for retirement savings, even if it’s quite small to begin with. Start by saving at least 1% of your monthly income for retirement. Slowly increase that percentage over time. You’ll find you can gradually adjust to that allocation. The more you save for retirement, the better your later years will be. (If you don’t think that’s important, talk with someone who is already retired. ) Generally financial experts recommend spending less than 30% of your monthly income on housing. In some locations, this may not be realistic. If that’s the case where you live, it may be necessary to change neighborhoods. [22] X Research source In addition to saving for retirement, build up a savings account as an emergency fund. Set aside about six months’ worth of living expenses in case you lose your job or become incapacitated. [23] X Research source Be sure to base your budget on your actual spending habits. If your budget and spending habits don’t match up, then your budget might not last very long. [24] X Expert Source Samantha Gorelick, CFP®Financial Planner Expert Interview. 6 May 2020.
For example, if your monthly rent is $900, and you spend $300 a month on food, you might consider finding a cheaper rental. If you have a mortgage, think about refinancing at a lower interest rate. Meanwhile, look for ways to lower food costs. Don’t eat at restaurants. Find recipes utilizing nutritious but inexpensive ingredients. If you could use help tracking your spending, consider using an app like Quicken, Mint, or PocketGuard.
