She Strengthens

Savings Strategies to Boost Your Finances

Regardless of your financial goals, reducing expenses is key to achieving them faster. The good news is that even small changes can add up to significant savings over time. Here are 101 simple ways to get started today.

Smart Savings Habits

1. Stockpile spare change: Save $1 or $5 bills as soon as you receive them.
2. Open a separate savings account: Choose a bank that’s not easily accessible to avoid unnecessary withdrawals.
3. Create sub-accounts for specific goals: Track your progress and make adjustments easily.
4. Nickname your accounts: Emotional connections can motivate you to save more.
5. Set up automatic transfers: Transfer funds to savings and investment accounts after payday.
6. Get a cash-back credit card: Earn money as you spend.
7. Take advantage of birthday freebies: Enjoy treats on your special day.
8. Get cash back at grocery stores or pharmacies: Avoid out-of-network ATMs and earn up to $40 back for free.

Home and Utilities

13. Conserve water: Turn off the tap while brushing your teeth to save 8 gallons per day.
14. Take shorter showers: Collect water to nourish your lawn.
15. Adjust your thermostat: Save up to 3% off your bill per degree.
16. Unplug appliances when not in use: Save $75 per year on laptop costs alone.
17. Invest in energy-efficient appliances: Replace old ones with low-flush toilets and high-efficiency models.
18. DIY when possible: Save on repair costs, but avoid shoddy work.

Shopping

19. Make a shopping list: Stick to it and avoid impulse buys.
20. Buy floor models for discounts: Score deals on big-ticket items.
21. Ask for in-store coupons: Look for them behind the register.
22. Buy last year’s model: Negotiate discounts on electronics and other items.
23. Buy holiday items on sale: Stock up on decorations, candy, and wrapping paper.
24. Join loyalty programs: Earn coupons and credits towards future purchases.
25. Consider clothing rentals: Services like Le Tote start at $39 per month.

Food

38. Eat at the bar: Enjoy better deals and cheaper fare.
39. Try lunch menus: Save on dinner prices at your favorite spots.
40. Plan home-cooked meals: Use the same ingredients in multiple dishes.
41. Save and eat leftovers: Reduce food waste and save money.
42. Invest in a slow cooker: Make delicious meals with plenty of leftovers.
43. Avoid pre-cut produce: Save by buying whole fruits and veggies.
44. Buy in-season produce: Enjoy better taste and lower prices.
45. Bring your own grocery bags: Recoup the 10-cent bag charge.

Bills and Loans

50. Refinance your auto loan: Save on interest rates, but avoid extending the loan term.
51. Refinance or consolidate student loans: Research the impact on repayment and interest rates.
52. Negotiate down your cell phone bill: Save hundreds over time.
53. Negotiate your paid TV or cable bill: Use current deals for new customers to make your case.
54. Cut the cable cord: Save at least $100 per month on alternatives like Hulu and Netflix.
55. Negotiate your credit card interest rate: Show your record of on-time payments and cite competitors’ offers.

Work and Career

57. Use your work phone as your personal phone: Save on phone costs if permitted by your company.
58. Ask about reimbursements or discounts: If you use your personal phone for work.
59. Participate in employee wellness programs: Enjoy discounted health insurance premiums or cash incentives.
60. Ask about discounts or subsidies for health club memberships: Stay active and healthy.

Health and Fitness

67. Use pre-tax medical savings programs: Save on expenses like prescriptions and co-pays.
68. Choose in-network specialists: Ensure you’re covered before selecting a physician.
69. Buy vitamins and contact lenses in bulk: Save on everyday health expenses.
70. Negotiate your gym membership fees: Ask for promotional deals or discounts.

Travel

73. Cash in credit card rewards: Enjoy free hotel stays and perks.
74. Pool your frequent flyer miles: Apply them to upcoming travel.
75. Join hotel loyalty programs: Score upgrades and discounts.
76. Choose budget-friendly destinations: Visit off-the-beaten-path spots or tourist hotspots during the off-season.
77. Travel by train or boat: Plan your vacation to train-friendly destinations or book a cruise.

Socializing and Entertainment

84. Order drinks on happy-hour special: Save on beverages and snacks.
85. Negotiate group rates: Pay a discounted per-person price for activities with friends.
86. Host a social swap: Exchange items with friends and donate leftovers.
87. Take a class with friends: Use Groupon or Living Social to score a deal.
88. Opt for outdoor activities: Go for a hike or walk instead of grabbing lunch or drinks.

Family, Kids, and Pets

93. Enroll in subscription services: Save up to 20% on diapers and everyday baby and kid items.
94. Get on childcare waitlists early: Plan ahead for full-time work after starting a family.
95. Find out what new-baby items your health insurance covers: Apply for reimbursement on eligible expenses.
96. Purchase gently used clothes and toys: Ask friends for hand-me-downs or use online marketplaces.
97. Open a 529 plan: Save for college little by little.
98. Take advantage of children’s tickets or free entry: Enjoy theme parks, museums, and other kid-friendly activities.
99. Cultivate useful hobbies at home: Grow your own vegetables and save on produce costs.
100. Research pet breeds: Learn about potential health conditions and grooming needs before selecting a pet.
101. Make the most of free resources: Take advantage of free days or nights at museums, zoos, and art galleries.