40 Ways To Save Money

by TK on March 25, 2021

Looking for a way to save money?  We’ve compiled a list of 40 creative ways to save money.

1) Instead of heating the whole house with a thermostat, why not buy a portable heater and heat the sections of the house that is used most often.  Better yet, use a really portable heater so you can carry it with you whereever you go.

2) If your credit card bill is insanely high, it is time to start thinking about a balance transfer.  There are added fees to balance transfers so you will have to calculate if it is worth it.

3) Call your credit card company every six months to ask your rates be lowered.  Threaten to switch credit card companies if they do not.

4) Stock up on daily deals from sites like Groupon and Livingsocial.  You have a year to use them so buy them even if you do not see yourself using it in the coming weeks or months.  However, buy only deals at places that you would normally go to without deals.  If you buy deals from places that you never intended to go to, then you are not saving money—you are spending money.

5) Cut your land line.  Seriously, who uses land lines anymore?  You can save yourself at least $15 every month by cutting your land line.  If you don’t want to cut your land line, consider using VOIP services such as Magicjack.

6) If you can, pay in whole for membership.  Monthly memberships are a ripoff.  You can save up to 50% (and sometimes more) if you are willing to pay in advance.  If you can pay for everything 1 or 2 years in advance.  However, the caveat is that you must know that you are going to use the service for that long.  I know a lot of people who pay for 2 years worth of gym membership in advance and stop going after the first month.

7) If you are not picky, buy from Craigslist.  You can find a lot of barely used items at a basement bargain prices by using Craigslist.  There are a lot of desperate sellers on Craigslist who have cash flow issues.  I found someone selling a brand new DSLR camera for $200 below the market price because they needed the cash and couldn’t wait for a refund because they bought it online.

8 ) If you own a home and your mortgage was originated before 2008, refinance now (February 2012) to lock in on historically low rates.  We may never see rates this low again in our lifetime.

9) Buy online.  You will save quite a bit by buying online because the online retailer has less overhead.  You may think that shipping is the equalizer.  But it is not—because you save quite a bit on taxes by buying on the internet.

10) Buy wholesale.  Everything will be cheaper if you buy wholesale.  Yes you will have to pay membership to get access to wholesale items (think Costco) but that cost is nothing compared to the savings you get by buying wholesale.  It may pay for itself after one shopping trip to your local Costco.  Costco’s annual membership is $55 but you can potentially save hundreds if not thousands per year.

11) Shut off your cable tv.  Instead, subscribe to online subscription services such as Netflix, Hulu, and Amazon.  Netflix and Hulu’s subscription is both $7.99 at this time (February 2012).  Both combined will still be cheaper than most basic cable subscriptions.

12) Buy a used car instead of a new one.  You will save tons.  Depreciation is horrible on a new car.

13) If you are an avid reader, buy a tablet/e-reader and buy electronic books.

14)  Make coffee at home instead of getting Starbucks.  If you absolutely cannot avoid going to Starbucks, then go twice a week instead of everyday.  Also, get the Starbucks Gold Card, you can get free coffee that way.

15) If you own a really old house, consider replacing the windows and putting in insulation.  Houses built before the early 1970s did not have insulation and their windows were not energy efficient.  Putting in insulation isn’t as expensive as it is laborious.  However, replacing windows and window panes are both expensive and laborious.  However, the savings are extremely huge and the value of your house when you sell it will more than pay for the costs.

16) Bring food from home instead of buying lunch everyday.  Assuming each lunch costs you $10, that’s $50 a week and over $200 a month you can save.

17) Buy clothes during holidays or during the end of each season when they have clear out inventory.

18) Alternate your work schedule either by teleworking part-time or condensing your schedule to a 4-day workweek.

19) Negotiate and haggle for (almost) everything you buy.  You will be surprised by how much of a discount you can get just by asking for it.

20) Use store credit to buy your merchandise.  For instance, Macy’s will give you 10% off if you buy their products with a Macy’s card.

21) Use a credit card with rewards and/or miles.  Just make sure to pay it off at the end of every month.

22) Try to wait a few months before buying a new gadget.  Price for electronics is pretty inflated when it first comes out.

23) Become a minimalist.

24) Shop second-hand.  I know this may seem grotesque to some of you but you can pick and choose what you want to buy second-hand.

25) Bundle up your phone plans with friends, family, or significant others.  Be careful with significant others though, they might not last forever and the break up might not be so amicable.

26) Share a wireless connection with your neighbor.  I know this is kind of a grey area to some of you but you can save bunches.

27) Shop second-hand using Craigslist and/or Ebay.

28) Go to credit unions for loans

29) Go shop at liquidation sales

30) Buy clothes towards the end of the season—they will have huge sales to get rid of their merchandise to bring in new merchandise for the new season.

31) Use flourescent lights for your house

32) Get a netbook instead of a laptop.  You won’t notice the difference in performance if you are not a gamer.

33) Stock up on Black Friday and Cyber Monday.  The savings are incredible.  If you do all your big purchases on those two days, you will save tons throughout the year.

34) Invest in a tax-deferred retirement plan.

35) Learn how to fix household items.  Whether you like it or not, things will break around the house.  Learn to fix it and it will save you tons of money.

36) Live in a house with a lot of natural light.  That way, you won’t have to turn your lights on as often.

37) If you have a yard, plant your own garden vegetables.  That will save you tons of money because you won’t be buying produce from the markets anymore.  People charge an arm and a leg for fresh produce.  Why pay for it when you can literally grow it in your yard.

38) Use a price check app on your phone when buying at physical retail stores.

39) Schedule and plan your vacation way in advance.  The travel industry makes a butt load off of last minute travelers.  Don’t be one of them.

40) Drink fountain water instead of bottled water.


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