45 Brilliant Ways To Save Money Right Now

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best ways to save moneyThere are always more ways to save money. I love writing posts like this because no matter how diligent I am in keeping our budget, there’s always more that I can do to cut expenses. Researching this content forces me to take a good look at new ways that I can cut from my own budget.

No matter where you are in your financial journey, you can start turning things around today. It all starts by getting control of the money that you already have in your budget. Once you’ve done that, then you’re in a good place to go out and start finding ways to earn more money!

Not all of these strategies will work for everybody, but I believe there’s something here to help anybody do a better job of managing their money.

45 Brilliant Ways To Save Money

Refinance Your Student Loans

Why not look into refinancing your student loans? Have you heard of LendEDU? It’s a tool to compare your student loan rates against rates available from other lenders.

Learn How LendEDU Can Save You Money

Attack Big Budget Drains

Check over your budget for major drains. Overspending on certain things (ahem…groceries…), recurring payments that you could drop, expensive internet packages etc.

Slash Grocery Bill By Making Freezer Meals

We started doing this last year. On a good Saturday two people can make 20-30 freezer meals no problem. Cooking a lot of meals at once allows you to take more advantage of sales. It also saves you time cooking dinner every night!

Trade Vehicle In For Something More Fuel Efficient

Let’s be honest here – many of you are driving big, inefficient cars and don’t need to be. If you’re driving a gas guzzler, consider trading it in for a smaller, more fuel efficient car.

Upgrade Your Current Car, Instead Of Upgrading To A Newer Car

If you’re thinking of upgrading your car to get a certain feature, why not just upgrade your current car? Power locks and windows, GPS, Bluetooth, heated seats and many other goodies are available as aftermarket add-ons.

Ditch Cable For Netflix

It’s not 1993 anymore. If you’re watching cable rather than Netflix, you’re spending a lot of extra money and missing out on some great shows. If it’s news that’s keeping you from pulling the trigger, most news channels can be watched online.

Switch to a Voip Phone

If you’re sick of paying for a home phone, but don’t want to ditch it completely, consider switching to a voip phone. Some plans are only around $20 per year. I have a friend who has been using the Magic Jack for years and it’s worked great.

Turn Down Your Water Heater

Did you know that the temperature setting on your water heater is adjustable? You can save money on your electric bill by turning down your water heater a little bit.

Swap A Couple Of Meat Meals For Veggie

Why not swap a few meals per week for vegetarian equivalents? There are lots of great veggie protein sources that are less expensive than meat. Chick peas, lentils and beans are a few good examples.

Change Your Own Oil

If you’re up for getting a bit dirty, try changing your own oil instead of taking your car to the shop or dealership for basic service. I pay about $20 for oil and a filter and can change it out in around 25 minutes. In my town, the local oil change place charges $69 + tax for that service.

Cut Subscriptions

Have a look over your subscriptions and cancel anything you’re not using. Hosting plans, magazine subscriptions, online tools you’re not using etc. If you’re not using it regularly, there’s no reason to be paying for it.

Take 52 Week Money Challenge

Want to save $5,000 in a year? Check out the 52 week money challenge. It’s great exercise for the mind to try and find creative ways to come up with the deposit every month!

Sell Something You Don’t Need To Buy Something You Do

Instead of just buying something new, why not finance the purchase by selling something you don’t use much? This is a great way to buy tools. If you have something that you only bought for one project like a tile saw, why not sell it to pay for something you need right now?

Buy Fewer, Higher Quality Clothes And Commit To Take Care Of Them

I’m terrible for buying low-quality clothes. This year I’ve started buying better quality stuff and committing to take care of it. A nice pair of leather boots can last years and years if taken care of.

Purchase Clothes That Are More Useful

Basically, maximize your investment by purchasing clothing that goes well with lots of things. A bright red jacket might be nice for one occasion, but if you wouldn’t wear it to work or out with friends, you’ll never get it’s maximum value.

Buy Meat On Sale

Every now and again stores offer an amazing sale on expensive things like meat and cheese. The best way to really take advantage of these sales is to buy larger quantities when they’re on sale and freeze it for later use.

Learn How To Cut Your Kid’s Hairnew ways to save money

It’s not that hard to cut kids hair. I had never cut hair in my life and I did my son’s hair last week after watching a few YouTube videos. Get a decent pair of scissors and a comb and you’re good to go.

Know What Staples To Buy At Costco

Some things are way cheaper at Costco. Diapers, wipes and TP are all things that I only buy from Costco. Cereal and cheese are good ones as well. Lately, we’ve been thinking of making some of these larger purchases through Amazon Prime rather than Costco.

Take Advantage Of Company Benefits

Use up your health benefits! You never know when you’re situation might change so you should be using up your dental and other benefits every year.

Slow Down And Stay Off Your Phone While Driving

Tickets and points on your license are really expensive. Being more responsible while driving can save you lots of money.

Ride Your Bike More

Gas is expensive, leg power is free! If you have a good bicycle, why not ride it just one or two days per week? The savings will add up!

Insulate Your Home

A can of insulating foam is only a few bucks at the hardware store. It’s a good idea to find places where air can escape to save money on your heating bill.

Take A Staycation

Going to Hawaii or Mexico is really expensive. Why not do a staycation this year? Offload the kids to their Grandparent’s place for a week and explore your own town. Eat out, watch movies and save money while doing things you typically wouldn’t in your hometown.

Learn To Negotiate

Almost every big purchase is negotiable. Even some smaller things like thrift shop finds can be bartered down. Honing your negotiating skills can save you a fortune over time.

Stop Paying For Banking

Are you still paying banking fees? Check out offers from local banks and credit unions. These days lots of institutions offer free checking accounts. We’ve had a free credit union account for years and haven’t ever looked back.

Make A Gift Calendar To Get Deals Farther In Advance

If you can plan out who you’re going to buy for this year, you can keep an eye out for good deals while you’re out and about. This can save you from spending too much on last minute gifts.

Start Making Gifts Rather Than Buying

Are you crafty? A good builder? Why not try making something for somebody this year? Refinishing an old piece of furniture, building a picture frame or even gifting an oil change are great, practical ways to give that don’t cost much.

Downgrade Your Fitness Membership

The great outdoors is free and for most of us, it’s warm for a good part of the year. If you want to keep going to the gym you can cut your cost in half by exercising outdoors in the summer and keeping the pass for the winter.

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Install A Programmable Thermostat

Household thermostats are getting really good. Learning thermostats such as Nest can save you a lot of money. It’s an up front investment, but if you have a large home, you will see the savings fairly quickly.

Start Doing Your Own Vehicle Maintenance

An oil & filter change done at home costs around $20. The same oil change done at a shop will cost closer to $60 and up depending on the vehicle. Learning how to change oil can save you a good bit of cash this year.

Maintain Your Appliances

Your old appliances can last a long time if maintained and treated well. Check over your appliances regularly. Empty drain traps, check for leaking seals and worn out cords. Learning how to repair your own appliances can save you a lot of cash as well.

Give Up Amazon Prime

That’s right, I said it. Amazon holds your credit card information so it’s easy for you to make purchases. If you have Prime, it’s easy to justify the cost by spending more than you would typically. If you’re somebody who struggles with spending, Amazon Prime makes it really, really easy to spend.

Rent Out Space In Your Home

There are lots of ways to do this. AirBNB, VRBO, roommates, renting out a garage etc. Renting out space in your home can be a great way to bring in some income whether you’re home or on holidays.

Trade Babysitting With Friends Rather Than Hiring Somebody

I don’t know what happened between when I was babysitting at 15 and now, but I wasn’t making the kind of money we’re paying our sitter! Instead of hiring a babysitter why not do an exchange with a trusted friend? They get a night out, you get a night out, it’s a win-win.

Stop Buying Lunch Out

Spending $10 on lunch just once per week is $520 per year. It’s a lot of money to spend. I find that I can actually make better lunches at home if I put a bit of effort in!

Do Group Gifts Whenever Possible

For Christmas and birthdays, try to organize group gifts rather than buying individually. The person you’re buying for gets a better quality gift and everybody saves money and a trip to the mall. Win-win.

Eat Before Shopping And Bring A List

I don’t know about you, but I spend a lot more money at the grocery store when I’m hungry. Try eating a meal right before you shop. Then make a list and bring it with you. Only buy what’s no the list!!

Stop Spending Big Money Entertaining Your Kids

Trampoline parks and theme parks are fun, but why not reserve those experiences for birthdays and special occasions? Most cities have nice parks, trails beaches and libraries that can entertain kids for hours and don’t cost a dime.

Transfer Any Credit Balances You Have

If you’re carrying a balance on your credit card and you’re unable to pay it off just now, try transferring it onto a 0% balance transfer card while you pay it down. Be careful with this strategy as missed payments often result in interest being backdated to the date you signed up for the card.

Start Using Your Local Library

Libraries aren’t just for books anymore. Libraries have movies, magazines, audiobooks and our local library even ‘loans’ a pool pass for the family.

Replace Your Lights With LEDs

LED bulbs have dropped in price over the last few years. Good quality LEDs can be bought in packs for around $3 per bulb now. Replace a few per month and you’ll have your whole house switched over in no time.

Start Investing

If you’re not investing for your future, this is the year to start. You don’t need much to get started. Contributing just $50 per month is enough to start building the habit of investing.

Negotiate A Pay Raise

Negotiating a pay raise is probably the simplest thing you can do to improve your finances. Making more money for doing the job that you’re already doing is a great deal!

Make Your Coffee At Home

I know that I’ve said in the past I won’t talk about how much money you can save by making coffee at home. We’re looking at the big picture for the entire year here and dropping the coffee shop lattes can make a real difference over the course of a year.

There you have it, 45 of the best ways to save money, starting right now. Try implementing some of these strategies today!


Question for you:

What is a unique way that your household saves money?

5 thoughts on “45 Brilliant Ways To Save Money Right Now

  1. We save a ton of money shopping at Costco, and as long as you’re aware of what things cost elsewhere you can find some killer deals. I recently wrote about a trip to Costco where I saved over $250 in ONE shopping trip. There are great deals if you do your homework.

    Oil changes on the other hand I can’t be bothered with. A standard oil change is like $25 by me and that’s just not worth the effort.

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