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INCREDIBLE HACKS TO SAVE MONEY THAT WILL MAKE A HUGE DIFFERENCE IN YOUR FINANCES WITHOUT HAVING TO COUNT THE PENNIES EVERY DAY
Found on Etsy
So, I talk a lot about how to make money!
After all, that’s what we’re all here for: to find a way to increase our earnings so that we can finally live the life we want, explore the world and do more of what we truly enjoy by taking back our time.
But what about how to save money?
I have a confession to make: as much as I can think of myself as a good saver, I am much better at making money than saving it! Plus I do love to treat myself, especially when it comes to traveling and eating out!
I do think that once in a while, it’s great to splurge a little at your favorite coffee shop or plan that vacation you’ve always wanted to take. You’ve earned it, and your hard work should be rewarded.
But, it’s always a good thing to plan for a rainy day!
Whether you have a job or work from home, things can always change in your life, and you just don’t know if the amount of revenue that you earn today will keep coming in at the same pace.
Plus the more you can save today, the earlier you can reach financial freedom!
How Can I Save Money Every Day?
Frugality is not about not spending money, it is about being as efficient as possible with it. It’s about not wasting resources and optimizing what you do with your time and your cash!
I want to show you that it’s possible to save without having to count pennies every day!
The best part?
You can do these things without sacrificing much in how you currently live and still be able to enjoy the fruits of your labor. I’m going to share with you 50 genius money hacks, so you can start doing this today. Read on and be sure to bookmark this page so you can come back and reference it – you’re going to want to keep these life hacks in mind.
Ready?
Let’s get started on the brilliant ways you can pad your emergency fund today!
MONEY HACKS: PERSONAL FINANCE
1. Automate your savings
Take the work out of savings by automatically placing money in your savings account. It doesn’t matter how much, just set aside a certain amount monthly. It will add up, and before you know it, you won’t even miss the funds.
The great thing about online savings accounts is that they normally offer much higher interest than bank-based accounts! For example, CIT Savings Builders will give you up to 1.75% if you deposit at least $100 a month! It’s one of the best rates you’ll get for your money, without having to invest it or lock it away!
2. Create a monthly budget
Ok, so maybe it’s not really a saving hack, at least at first glance. It’s true, though, that you can’t save if you don’t have any idea of where your money is going. So, first things first, you’ve got to get a budget.
If the idea of setting up a budget sounds about as fun as finding your receipts to give to your accountant, relax. There are easy ways to start tracking your money!
All you have to do is find a tool that works for you. You can use your own spreadsheet (or download my intentional budget system).
But if you love technology, there are plenty of apps that can help you! These programs are designed to do all the hard work for you! No receipts, no formulas. You just get to track your spending at the touch of a button.
Sound great? Well, here’s the money-saving hack part: these apps are free!
My favorite ones are Mint if you are in the US, and Wave Apps if you are everywhere else!
3. Discover if your employer’s 401K is the best option for you
Most employers use their own 401’k. The problem? You don’t see any of the gains, outside of your program. Blooom is an app that will give you personalized advice on growing your 401k steadily and efficiently by identifying hidden investment fees, analyzing your stocks and bonds and calculating your opportunity costs.
And do you want to know the amazing thing? Bloom will do this analysis for you, for free!
Get your free analysis in under 5 minutes!
4. Use a raise to save more
Getting a raise is one of the best ways to make more money! But it doesn’t mean you have to spend it all.
As soon as you get the extra money in your next paycheck, put a portion of it into savings. Not only will you still be able to enjoy a little perk from the rewards of your hard work, but you’ll save more, too. Don’t inflate your lifestyle and use this great opportunity as one of the best money-saving tips out there!
And if you need any help to finally get the raise that you deserve, check out my amazing tips! During the last 10 years, I’ve been both been an employee and a boss, looking after a big team of people, and I know exactly what techniques you should be using to get the raise you want!
5. Get a robot to save for you
Are you sure you are not paying for things you don’t even use anymore? Like that gym membership, you bought last January and used twice?
There is a free IOs app that can save you the pain of going through all your subscriptions. Trim shows you exactly how you spend and in what ways, which makes it easy to see where you can cut back, and find those expenses you didn’t even realize you had. It’s extremely secure with encrypted access, two-factor authentication, and read-only access, so you can feel safe saving money.
Trim can help you cut spending other ways, too, by negotiating with your service providers to lower your monthly bills. Plus, it analyzes your transactions so you can quickly and easily understand where your money goes.
You can download it for free here.
6. Buy term life insurance when you are young
It might seem counter-intuitive to purchase this while you’re young, but buying term life insurance now will save a lot of money in your premiums. It just makes sense to purchase it while the rates are the best, especially since the benefits stay the same.
For example, if you buy a $100,000 when you are 30, you could save over $1,800 over the life of the policy, compared to buying the same insurance at 40!
7. Try a non-spending day
Have you ever had a no-spend day? Ever tried not to touch your wallet for 24 hours?
The trick is to prepare ahead of time. It’s much easier if you do it during a workday, as you’ll probably want to treat yourself over the weekend. Walk or cycle to the office, bring your lunch in and drink the free coffee work provides. On your way home, don’t be tempted to stop at the grocery store. Cook a healthy meal for dinner, and read a book or watch a free movie in the evening. You’ll be surprised at how much you’ll learn.
And if you are up for a real challenge, go for a non-spending week! You’ll learn there are many things you can easily live without (and some that are really hard to give up!).
8. Become financially literate
If you want to transform your life, personal finance books are the right way to start. By learning how to manage your money the right way, you will start to feel in control of your life. Money might not buy you happiness, but in modern society being poor isn’t great either.
Once you know how to manage your money, pay off your debt and invest your savings, you might not be happy but you will have financial security which will give you more freedom for more important things in life: health, love, friends, family and personal growth.
MONEY HACKS: FOOD & SHOPPING
9. Use less plastic and save cash
It’s a surprise to many that you can save money buying the same things you normally get by skipping all the plastic waste that is generated with traditional grocery shopping. Many stores offer discounts on any number of these activities, from bringing your own reusable bags, refilling bulk containers such as water, coffee, soap and detergents to skipping the produce wraps as you shop.
Not only will you be helping your bank balance, but you’re also contributing to a cleaner, healthier environment.
10. Get money back every time you spend
I mean, if you’re going to shop at the store anyway, why not? It’s free cash!
Rebates are a great way to either snag incredible sales or get cashback on your purchases.
Rakuten leads the way in this area, by giving you up to 10% cashback on things you were going to buy anyway! Rakuten lets you start a shopping trip, and every time you find an item with a Rakuten link, purchase it through there. You’ll earn cashback.
Other apps I LOVE are Swagbucks, MyPoints, and Paribus. You’ll definitely find your favorite retailers listed in one of these apps!
I made over $200 with Swagbucks in only a few months! It works much the same, but with the added bonus of being able to watch videos or do surveys to earn gift cards to major retailers (I picked Amazon gift cards!).
11. Make a meal plan
Although I love cooking before I discovered meal planning I always had the wrong veggies in the fridge and I ended up throwing away and wasting food without reason. With meal planning, life gets much simpler and you only buy what you will use. Think about what you need in advance and check what you have left in your kitchen.
It’s a great way to eat healthy food while saving money on meals and reducing food waste.
Remember to also check out your local grocery fliers before you go shopping, and plan your weekly meals around the sales and deals advertised. Not only will you save money, but you’ll also have a constant rotation of items being served in your home.
12. Cook at home more
Get your Tupperware ready and go ahead and meal prep when you get back from shopping. Why? When you’re working all day, it’s too tempting to break your grocery budget with eating out. If you have everything prepped and ready to go, you’ll avoid the infamous time crunch that has us picking up the phone and ordering a pizza more times than not.
Not only will your meals be healthier, but you’ll also actually use the food you purchased at the store.
No waste, no fuss.
13. Try intermittent fasting
Why would you suggest a diet, I can hear you saying? The 16/8 intermittent fasting involves eating food and drinks containing calories to a set window of eight hours per day and fast for the remaining 16 hours.
But how is this going to help you to save money?
By eating only twice a day, you will save time and buy less food.
How does it work?
Many people prefer to eat between noon and 8 p.m., as this means you’ll only need to fast overnight and skip breakfast but can still eat a balanced lunch and dinner, along with a few snacks throughout the day.
If you are interested in getting started, check out this great book.
14. Write a list before you go shopping
Yes, everything from your weekly grocery plan to cute clothes. Plan it, set your buying budget and stick to it. It’s amazing how much money impulse buys add to our overall spending, so take the time to realize the savings yourself.
15. Drink water but stop buying it
It’s not a secret that by drinking water and giving up fizzy drinks, wine and beer you can save a lot of money. But by stopping buying water altogether, you can save much more!
Plastic water bottles are not only bad for your wallet but for the environment too: bottled water is about 2,000 more expensive than tap. It also takes three times as much water than that contained in the bottle to manufacture it, and less than 30% of plastic bottles are recycled every year.
Carry around a reusable water bottle and not only you will save hundreds of dollars per year. but you will help the environment too. If you live in an area where water is full of chlorine, you can install a water filter or use a Brita Pitcher at home to reduce chlorine taste, often found in tap water.
16. Eat less meat
Planning a few meatless meals a week is not only good for your bank balance, but it’s also great for your body too. Meat is expensive, and by making a few meals plant-based, you’ll not only see a saving in your grocery bill, but you’ll also be contributing to your future health. And when I say plant-based, I mean whole-food, plant-based diet. Avoid anything processed and buy real and simple ingredients like fruit, vegetables, grains, and legumes.
It’s all about getting a bit more creative in the kitchen! You can start with some delicious ideas here.
17. Shop for food online
When I started shopping for food online, I wasn’t sure I would be making much in terms of savings. But the reality is that by shopping online, you’ll be less tempted to buy food that you don’t need! You can save quite a lot, especially if you know what you need to buy (see above – write a list and stick to it!)
Plus you can find great offers online, and you’ll also save money on gas, and time.
Give it a shot and realize the savings and convenience.
18. Try generic brands
Ok, so there might be some things that you just don’t want to purchase the store-brand equivalent for, and that’s totally fine. But when it comes to basics like toilet paper, seasoning, spices and cleaning products there’s virtually zero difference but the price.
Generic brands are cheaper due to the lack of promotion (yes, marketing!) and less expensive packaging. But the quality is the same, if not better!
Be smart and snag the value.
19. Buy seasonal produce
It not only tastes better, but it is also better. Produce that is in season is more likely to have more of the vitamins and nutrients you’re looking for in your food, and because less money has been spent in shipping, it’s often cheaper.
20. Scan your receipts
Did you know there is a free app that gives you money back if you scan your recipe?
Ibotta is a fantastic app to save money on the things you already purchase. You need to take a picture of your grocery receipts with your phone and upload them to the app. You will then receive between $0.25 to a few dollars per receipt as cashback for buying certain products. It’s so easy I can’t believe they actually give you cash for that.
And you also get a free $10 sign up bonus! You can check it out here!
TIP: By using both Ebates and Ibotta, you can save up to 20% on your grocery shopping.
21. Bring your lunch to work
We all start the year with good intentions, going out with co-workers only on Fridays. But before we know it, we end up going out every day! With an average work lunch costing up to $10-a-day in a big city, you can end up spending over $2,500 a year on work lunches alone!
I am not asking you to pack your lunch every day, but if you prepare your lunch at home 2-3 times a week, you can easily save more than $1,000 a year!
22. Try the baby section for cosmetic products
It might surprise you, but the same products can have vast differences in price depending on where in the store you pick them up from. Items such as cotton buds and sunscreen are often cheaper in the baby’s section than the standard cosmetics aisle. Bonus? Lotions are often formulated with fewer chemicals as they are specifically made for children.
23. Use a reusable coffee cup to get a discount in coffee shops
Now you can have your coffee and drink it, too. Many coffee shops give customers who bring their own mugs discounts due to saving money on disposable cups.
Plus you are also saving the environment too! Did you know disposable coffee cups are not recyclable? What doesn’t help is the mixture of paper and plastic in their inner lining, designed to make them both heat and leakproof. This means that over 99.75% aren’t recycled.
Invest in a travel mug and start packing your own today.
24. Monitor Amazon for price drops
A friend thought me this just before Christmas last year! Put something you want in your Amazon watchlist or in your cart and monitor the price. Chances are, it will fluctuate and you’ll have the opportunity to snag it at a discount.
25. Write it down before you buy (The 30-day Rule!)
If you really want to purchase a high-ticket item, write it down. Keep it written for 30 days before you take the plunge. If you forget about it or just decide after a month that you don’t really need it, you’ve saved yourself from an expensive purchase.
If you still want it, at least you’ll know that the item will be used.
26. Stop upgrading your phone
Are you still paying for your cell phone in your contract? You might think you are getting a great deal, but you are pretty much renting your phone for a much higher price. You should simply buy your phone, keep it for a few good years and switch to a much cheaper plan.
If you are in the US and are looking for an affordable cell phone plan, check out Republic Wireless. They have monthly plans for as low as $15 per month + $5 for data.
It’s a great deal that can save you hundreds of dollars a year!
27. Join email and Facebook groups for your favorite brands online
It often pays to be a member of the club, especially with shopping and brand loyalty. In exchange for the following, many major retailers offer exclusive discounts to member-only clubs, so hop on to the ones you truly love and snag the deals.
28. Make your own gifts instead of buying them
Even if you don’t think you’re the creative type, you might surprise yourself. Everyone has a talent that can be developed. Not only will you gain a hobby, but you’ll also be able to gift your loved ones with special presents.
You can bake some delicious cookies, make a tasty jar of jam or pickles or some incredible homemade soap! Giving a present made with your own hands has much more meaning and it shows how much you care!
Found on A Beautiful Mess
29. Hunt for used items
It’s true. Whether you’re thrifting or going to second chance boutiques, you can find some great deals on clothing and housewares. Don’t be shy, go in and look around. Ask the staff what day they get their shipments so that you’ll stand a better chance of finding the really good stuff.
Don’t forget to check out the furniture items. Second-hand stores are often chock full of solid wood furniture that just needs a little polish to look good as new again and can be had for a fraction of the cost you’d spend on particleboard pieces at retail shops.
30. Borrow what you need just once
From lawn care tools to books, if you’re only going to need it once, try to borrow rather than purchase. Just ask your friends and neighbors. You’ll be surprised by how many things they have that they will happily lend you for a day or two.
You’ll save money and space!
MONEY HACKS: HOME & TRANSPORT
31. Bigger isn’t always better
Housing is one of the biggest costs we have in our life! You should never spend more than 30% of your income on housing (that includes taxes and bills as well!), but the less you spend, the more you can save!
About 6 years ago Dan and I had a choice: keep living in our 600ft apartment, or buy a bigger place for ourselves. We decided to stay put, and invested the extra money in a rental property. That decision was one of the best money moves in our life! Our housing costs haven’t increased, and we are now property investors and generate around $2,500 a month in rental income alone.
I know some people love to live in a huge house but remember: if you live in a big space, you will have more costs. And I am not just talking about your rent or mortgage.
A big house or apartment will mean:
- your house tax will be higher
- your utility bills will be more expensive
- you are going to have to fill a bigger space with furniture!
- the more space you have, the more room for the stuff you think you have, which leads you to buy unnecessary items!
32. Compare, compare, compare
This one often goes over many people’s heads, but how long have you had your insurance policy? If it’s over a year and your driving record hasn’t changed, chances are they’ll offer you a cheaper rate. The current rate you’re paying was established on your driving record however many years ago it was that you signed up. If you’ve been accident-free for a while, it can make a big difference to your premiums to make the call.
The same is true for your utility companies. There are often competing providers all with adjusted rates for new customers. Call and compare and you could start seeing substantial savings for the items you have to pay for.
I started doing this about 5 years ago, and I managed to save over 50% on my utility bill (that was over $500)! I now set a calendar reminder every year to let me know when my contracts are up, and to shop around again for the best deal.
33. Drive a used car (or get rid of it entirely!)
Transport comes second as an expense after housing for most people, and driving a car is often the culprit.
According to Consumer Expenditure in 2017, the average vehicle costs $9,576 per year to own and operate! That’s almost $800 a month!
If you live in a city, like Dan and I do, use public transport, walk or cycle around. You will save yourself a fortune! And if you really need a car, opt for a reliable used car, instead of buying a new car. New cars depreciate very quickly!
Buy a car that you can afford, and you’ll be much richer every single day.
34. Cut the cable & stop watching TV!
Are you still paying high cable prices for a package that you likely don’t use? Investigate whether you can see your favorite shows on another service, like Netflix or a streaming app, and cut the cable.
Also, as much as you might find it relaxing, watching TV is such a waste of time! In the last couple of years, I decided to watch a lot less TV, and I now spend that time reading more and learning how to generate passive income.
That’s how I started this blog!
35. Insulate your house
We all have to heat and cool our homes, but we don’t have to spend so much money doing it. Be sure that your home is well insulated against drafts by checking the caulking around windows. If you’re in an older home, you can have blow-in insulation added to bulk up your resistance to energy loss. What it costs will soon be recovered in savings.
36. Rent out a part of your home on Airbnb
Have you ever heard of Airbnb? Of course, you have! You’ve probably used it to save money on one of your latest trips!
But how about making money with it? If you have a finished basement, garage apartment or spare bedroom, you can turn it into cash by posting it on Airbnb. You’ll be surprised at how quickly the revenue adds up to something big!
Depending on your location, you can make over $100 a night for a room. And if you have a house, you can make much much more!
37. YouTube it and fix it yourself
We are all for hiring the pros to do the tricky work, but there’s no need to turn to expensive service with a lot of repairs. YouTube some how-to videos and hone your handyman skills. Not only will you learn new things, but you’ll also save a bundle on labor charges.
A few things I learned to do thanks to YouTube to save a lot of money:
- cut my fringe ($10 every 2 weeks – estimate savings $260 a year- a whopping $2,600 over 10 years!)
- replace a light switch (between $50 to $150)
- replace a radiator (yes, I am not kidding – go DIYers! Saved between $200 to $300)
38. Get a smart thermostat
I love my Nest Thermostat! We got it around 3 years ago and it has helped us to save hundreds of dollars on our home heating costs. Smart thermostats give you total control over your home temperature and allow you to program schedules for each day of the week. You can easily change your settings and see how much you are using every day!
I love how you can turn on and off the heating from far away. I can keep my heating low and then switch it on 15-20 minutes before I get home to get that warm feeling, without having to waste hours of gas for no reason!
Stop paying to maintain your home’s comfort when you’re not there, and invest in one today to see savings on your energy bill.
39. Switch to LED bulbs
With over 10 years of life, LED lights are so much cheaper these days!
By switching just the five most-used lights to LED in your home – for example, the lights in your living room, kitchen, and entryway – you could save around $44 a year on your electric bill.
Pretty nice!
40. Close the blinds
Your blinds help to insulate cool or warm air from penetrating your home. If they’re open, the interior of your house can be changed by external factors. Close the blinds and relish a little extra privacy.
41. Declutter: sell your junk for cash
I never really liked clutter! I find it hard to concentrate when I have too much stuff around me. I think I am probably a bit of a minimalist inside!
And I really can see how decluttering will help you in two ways: initially, by selling stuff that you don’t need, you’ll get a cash infusion that you can use to invest or treat yourself. After your clutter, you’ll save money and time with less cleaning required.
Extra money and less dusting is a win-win situation anytime.
MONEY HACKS: TRAVEL
42. Use foreign websites for cheaper prices abroad
It’s true that local is usually cheaper, so if you’re planning that vacation abroad, why not shop like a local? You’ll find spectacular deals on places to stay in the areas you were already planning on visiting while you skip the non-local price.
43. Stay for free or get paid to house sit abroad
If you’re really lucky, you can score a house-sitting job abroad. Not only will you get to stay for free in the location you choose, but you’ll also likely have the entire place to yourself. No motel room can match this deal, so don’t rule it out if you’re planning a vacation.
Some amazing websites to explore to find housesitting deals:
Some of these house sitting websites will charge you an annual fee, but you’ll save so much money by staying in some amazing homes that if you are serious about trying it out, it’s a no brainer to pay the fee!
44. Save money using Airbnb
If you don’t mind sharing your space, cruise through Airbnb for travel steals. You can find a comfortable room in nearly every city across the globe, so be open to new experiences. Some of the renters on Airbnb post multiple rooms while some allow the renters to have free run of the property, so it’s all up to what sort of experience you’re looking for.
Either way, you can be sure that you’ll have comfortable lodging and a kitchen nearby to avoid all those takeout expenses.
And if you have never tried Airbnb, you can save up to $44 on your first stay by using my link here.
45. Hide your search!
Some websites claim this isn’t true, but I have witnessed it with my eyes: if you keep searching for a specific flight route, prices go up!
Airlines use cookies in your browser to make you believe the prices are going up and up and you need to book NOW to save as much as possible.
Open a new incognito or private window between new searches, as cookies are reset and deleted between each session. By doing this you will have the best chance to find cheap flights without being fooled by airlines.
Check out more money-saving hacks to book cheap flights every time here
MONEY HACKS: HEALTH & FITNESS
46. Workout from home and save on gym membership
Every single one of us is guilty of it: we purchase a gym membership only to end up not going anywhere near as often as we promised we would. Take the time to work out at home and skip the monthly fees. After all, Gym You is always open and you don’t have to get ready to go, so you’ll likely end up working out more than you did at the gym.
YouTube comes handy again here. I started doing yoga classes at home and never looked back! One of my favorite yoga channels is Boho Beautiful!
If there’s a class at the gym you love, speak to the clerks about ala carte options. You might be able to still take part in the activities that you love with a cheaper fee than the membership.
47. Walk more
Save the gas money for trips and take a stroll. You’ll spend less on fuel, help the environment, work on your fitness and get to enjoy an up-close and personal view of your neighborhood.
EXTRA FREE MONEY HACK: if you are up for walking around more, check out Sweatcoin! It’s one of my favorite apps. It’s free, easy to use and you get paid to walk. You will not get rich by using it but it’s so much fun to see how much you can make by walking around! You can read my full review here!
Likewise, consider public transportation if it’s available in your area. Monthly bus passes cost about as much as a single tank of fuel, and you’ll be able to get around anywhere you need to go.
48. Exercise daily
This money-saving tip is a prime example of the domino effect. Exercising daily saves money in so many different ways! It brings better health, which means fewer doctor visits. It also helps you to feel good about yourself, so you’re less likely to indulge in expensive junk food. Lastly, while you’re working out, you’re not shopping!
MONEY HACKS: MAKE MORE!
49. Get a side hustle
It doesn’t have to be a full-time commitment, it can be something you truly enjoy. Are you crafty? Create a product like Chloe did, or open a booth at local markets.
Do you like to write? Consider taking in work as a freelancer or start a blog.
The possibilities are truly endless, and each task won’t take you long to complete. The more you do it, the better reputation you’ll have and the more you can charge.
Eventually, you might decide that your side hustle is better suited to your daily job.
SOME GREAT IDEAS TO START YOUR SIDE HUSTLE NOW:
25 Creative ways to make $100 Every Day
9 Quick & Easy Ways to Make Extra Money Fast
How to Make $150 in an Hour With Online Focus Groups
50. Get a raise
How long have you worked for your current employer? It might be time to trump up your contributions and go ask for a raise. If your boss is less than receptive, search the job market to see competitive wages for your position and duties, and apply for them. It might be scary to switch jobs, but the payoff in greater financial freedom is worth it. This is a combination of life hack and money-saving hack, but it’s true.
You have the power to make your life work for you, so take advantage of each opportunity!
There you have it!
50 + amazing ways you can start saving and earning money today. I hope you found some tips you haven’t thought of, and are inspired to take control of your finances.
Do you have any other great money hacks that you use? Let me know in the comments below!
Happy savings!
If you are interested in starting your own blog, have a look at my step-by-step guide! I will show you everything you need to do to start a successful money-making blog!
Check out all the best resources for your blog! I find all these resources so valuable and I am sure they will help you as much as they helped me.
melody says
Hi, Sara!
I just discovered the ‘trim’ app. This one is a game-changer: the ‘CHAT’ functionality VIA TEXT OR FACEBOOK MESSENGER is super cool, I just ask it what type of monthly subscriptions I’m paying for and how much my bills are costing me.
My favorite money-saving hack is to simply use what’s in my kitchen. I end up making a lot of meals with the food that I already own.
🙂 melody
Sara @ Gathering Dreams says
Hey Melody!
Yes, using what you have in your kitchen is a great tip! I do that all the time! We think we need to buy fresh food every week, but I bet I could go on for easily 2-3 weeks just by using what I have at home.
I normally do this if I end up going a bit over budget for a month, to save a bit of money and stretch my grocery spending.
It works every time! 🙂
Caverly Stringer says
Here’s one: Pay off installment debt sooner and pay less interest without paying a cent more, each month than you do now. While installment payments are scheduled monthly, most of us get paid weekly or every two weeks. So if your monthly payment is, say, $300.00, by breaking it into four weekly payments of $75.00 or $150.00 every two weeks, you will dissolve the debt sooner and end up paying less interest, since each early payment lowers the balance upon which the interest is calculated. In simply accelerating the pace of your payments, even though you are paying the same amount each month as always, you can save hundreds and even thousands of dollars over the life of the loan, Believe me. It adds up!
Sara @ Gathering Dreams says
Hey Caverly,
I completely agree and it’s a great tip! So true. And this is true of mortgage overpayments as well. Not only you will pay off your mortgage sooner, but you’ll save a ton of money in interest alone. Dan and I saved over $80,000 in interests by repaying our mortgage earlier!
Missi says
Oh my gosh! Love this list! I really like how you organized each hack and gave really detailed info. Learned some new stuff but glad to say that I do a good number of these. Yeah!!!! 🙂
Sara @ Gathering Dreams says
Thank you, Missi! And that’s great that you’re already following a lot of these money hacks 🙂
gursimrat thind says
He Sara, these are truly great ways to save money. Small things doesn’t matter alone but they add up soon and if we save small amounts from everywhere, we can save good mount of money on the long run. Thanks for sharing.
Sara @ Gathering Dreams says
I agree! Every little thing helps when you are trying to save money 🙂
Lena says
I really like your tips, especially the trim app. I think that’s perfect to stay on top of things, definitely gonna try it. Thanks for sharing!
Sara @ Gathering Dreams says
Yes, Trim is great 🙂
Dyana says
These tips truly do help come it costs! I found that reducing the amount of meat I eat helps my grocery budget stretch further. I’m also using my pay raises to pay off student loan debt which is saving me money on interest!
Sara @ Gathering Dreams says
Hey Dyana,
Yes, reducing meat is really helpful for both budget and your health! And it’s great to use raises to pay debt instead of spending it every month. During the last 10 years, Dan and I kept our expenses the same while our salaries went up by at least 10-15% every year. This is one of the best things we did to kickstart our financial freedom!
Elena says
So many great ideas! Shopping online is such a great way to save money since you can use cashback sites and are more likely to stick to your list! Thanks for these great tips 🙂
Sara @ Gathering Dreams says
Hey Elena,
Yes, I agree! I always look for cash back options every time I need to shop online! It’s free money 🙂
Randy Schultz says
Hi there. I’ve signed up for your emails but am unable to download the budget template. Any suggestions? Thanks.
Sara @ Gathering Dreams says
Hey Randy,
you should have it now in your email, but do let me know if any problems 🙂
Smech Chot says
Thanks for this article!
Sara @ Gathering Dreams says
You are welcome, Smech Chot! I hope you found some money-savings ideas in here 🙂