11 Simple Ways to Save Money Today

by Carrie | Nov 23, 2021 | Saving Money

Saving money can be difficult with so many people and things all wanting a piece of your hard earned money. Try out some of these simple ways to save money to keep your money for more travel, more giving, paying off debt, or retiring early!

You may have been struggling to find ways to save money and wondered how it could even be possible with your income. I have totally been there and have found several ways to make small changes for a large impact with money.

You’ll see how there are many different ways to make small changes, so that you can go from being a spender to being a saver.

After learning these simple to implement strategies, you’ll be ready to save money like a pro for whatever your money goals might be.

This post is all about eleven simple ways to save money and get started today.

Table of Contents

1. Always Go Shopping With a Plan

Whether you’re going shopping for groceries, clothes, gifts, or any other purchase, do not leave your home without a plan. Impulse shopping is one of the biggest ways to overspend on shopping trips.

It’s hard to curb spending if you are like me and really enjoy a fun day out shopping, but in order to avoid impulse spending, I’ve found that it’s best to follow a few quick steps before leaving to go on any shopping excursion.

Brainstorm a list of items that you are planning to purchase and write them down.
Do your research before you leave to find out which brand is the best value and places where you can purchase.
If you are purchasing for yourself, check your home to make sure you aren’t purchasing duplicates. This could mean checking your closet or your pantry, depending on what you’re shopping for.
Have a set amount of money allocated to spend before you leave and don’t go over that amount.

These are some great ways to be sure that you stay on track with your spending while still enjoying a shopping trip. Another great way to save money is to use the 24 hour rule.

2. Use the 24 Hour Rule

The 24 hour rule is one that I was introduced to a few years ago when my husband thought we needed a new TV in the living room, while we were standing in the electronics store.

He thought we needed it right then, and I thought we didn’t need one at all. Someone mentioned to me about using the 24 hour rule, especially when making large purchases. Honestly, I’ve found that it works great with all size purchases.

The 24 hour rule just says that when you think you really want something, take 24 hours to think about it before making a decision. You must leave the store or turn off the computer (if shopping online) and after 24 hours decide if it is really something that you want to spend that money on.

This has curbed quite a bit of frivolous spending at our house, and allowed time to decide if that purchase was really on our priority list.

3. Measure Your Wants vs Your Needs

Of all of the ways to save money, this one can seem obvious, but can actually be one of the trickiest parts of saving money… measuring your wants versus your needs.

Sometimes in life, it can be difficult to determine if something is a want or a need. Also, are we only supposed to buy needs and never buy wants?

Attempting to cut out all wants and only purchase “need” items is a sure way to end up failing at saving money.

Don’t get me wrong, I believe that curbing spending is a good thing, as we are constantly being encouraged to spend, spend, spend; however, too much restriction on wants could only lead to a mental backlash, and could lead to out of control spending.

I recommend you first make sure that your needs are met each month, then make allowances for a certain amount of money to be allocated to wants. I like to call this “fun money.” Fun money is yours to spend how you like, but once that money is gone, then I like to say the fun is over for that month.

The money that is not allocated to needs or wants is your savings. I highly encourage you to save more than you spend on fun money each month.

If you want to learn more about ways to save regarding wants and needs, check out this article from Making Sense of Cents.

4. Create a Budget Every Month

Of all of the ways to save money, this is the one that has the potential to have the biggest impact on your life. Did you know that 8 out of 10 people live paycheck to paycheck?

Most people don’t know how much they owe to creditors or how much available money they have each month after paying their bills. I know, because I was that person just a few short years ago.

Creating a budget every month before the month starts is the most effective way to save money. I know that budgets get a lot of bad press.

However, a budget is simply what you make it. You can hate it and it will never help you meet your goals, or you can use it as a tool to take control. I prefer the second option.

Having a budget truly gives you permission to spend. You get to decide where all of your money is going, and how it will be allocated for the month. Then once you have the plan, all you have to do is execute it.

Need a new outfit? Put it in the budget, and go buy whatever you want for that amount. Need a better vehicle? Put it in the budget, and in a few months, you’ll have enough for it. Want to retire early? Decide how much you can budget each month to save in order to reach your goal.

The magic of a budget? You’re in control.

5. Use Cash Envelopes

Using cash envelopes can be one of the most fun ways to save. Follow these steps to begin using cash envelopes:

After completing your monthly budget, decide on certain categories that will be only paid for in cash.
Total up the amount that you’ll be spending in cash.
Withdraw that amount from your account
Place it in envelopes that are labeled for each category
Throughout the month, only spend on those categories out of the cash envelope
When the envelope is empty, you’re done spending in that category.

Out of all of the ways to save money on this list, this is probably one of the oldest. This is how my grandmother made sure not to spend too much each month, and my mother used this trick when I was just a baby.

Paying with cash has proven to be one of the best ways to save and ensure you spend less, because there is actually some pain associated with spending cash. When you spend on a credit or debit card, you don’t see the money disappear; however, with cash, you tend to get more attached to it and less likely to want to part with it.

Try out this favorite of my ways to save this month. I promise it will make a positive difference in your spending.

6. Calculate Purchases by Hours Worked

This was a real game changer for me when I started getting control of my money. When I started to get out of debt, I began selling items that were no longer used around my house. I quickly found that those items did not sell for anywhere near what I paid for them.

It suddenly hit me that all of that money that I was losing was hours of my life. I just worked 6 hours for those shoes that I hardly wore and just sold to someone else for $5.

Before you make a purchase, I’d encourage you to calculate the cost of time for that item. If you buy that tv in exchange for 134 hours of work… 134 hours away from your family… is it worth it? In some cases, it will seem totally justified, and in other cases, it will seem ridiculous.

This is a great way to not only save money, but also to really prioritize those things that are important to you.

7. Use Online Grocery Ordering

Have you used online grocery ordering in the last year? Statistics show that delivery service for groceries has increased dramatically in the last year and a half.

While it has been very helpful when you have sick family members, it is also one of the great ways to save money.

One of the main ways that we overspend at the grocery store is through impulse purchases. You can almost eliminate those last minute expenses by putting your grocery order online.

Ordering your groceries online also allows you to see exactly how much you’re spending as you add items to your cart. Of course, you can take a calculator with you to the store, but I have found this is difficult to do without accidentally clearing your total at least once.

Almost every week, I put a grocery order online and before I hit the checkout button, I remove some items. Looking at that total can certainly make you think twice about some of those items.

Another benefit to ordering online, is that you can look at a recipe while you’re ordering, which can eliminate extra trips to the store when you forget something. On the flip side, you can also check your pantry and refrigerator while you put in the order, so you don’t over order.

Online grocery shopping is a win-win for ways to save money.

8. Make a Plan For Eating Out

If you’re anything like me, you might spend the majority of your discretionary money on food, specifically eating out. It seems like every week, there are a few days that I’m fighting the urge to just go pick something up. Trust me, this can make a huge dent in your ability to save money.

A few years ago, we made a plan to only eat out two times a week. This may still seem like a lot to some people, but it was a huge and necessary cut back for us.

We made a plan to get something quick, like subs or soups for lunch on Saturdays. We like to sleep in on Saturdays, and this enabled us to do that and not worry about lunch.

On Sundays, after church, we would take our family out for a nice meal, often with my parents or other church members.

This gave us something to look forward to for the week, and it also kept us motivated to cook during the week. It also made it pretty easy to plan how much we were going to spend on eating out each week.

While we didn’t know where we would choose to eat on those two days, we did know that the Saturday lunch was going to be about $35 on the top end for our family of 4. We knew our Sunday lunch would be closer to $60 including a 15% tip.

By having a plan, it can help you stay on track with your savings, while still enjoying a meal out.

9. Skip Cable

I actually have been slow to come around to this way to save money. I’ll be honest, I like to watch tv or just have the tv running in the background while I work. You may be like me, and like to watch several different types of shows on different channels. It’s difficult to get this variety without cable.

However, cable is a huge money suck.

A few ways to save money once you ditch the cable, you can opt for streaming services, free offers and using an antenna.

Streaming Services

Using a streaming service is an affordable way to watch your favorite shows and movies or discover new ones. For a small portion of the cost of cable, you can watch tv on demand of almost any genre.

It seems like there is a new streaming service coming out every day, so you should take advantage of free trials. Most streaming services offer a free trial, where you can test it to see if you like the shows that they have available.

I recommend only testing one free trial at a time. This way you can fully look at their catalog and how their service works to see if it is a fit for you.

In many instances, these services are so inexpensive, you could sign up for 2 or 3 of them and still save hundreds of dollars more than with cable.

Free Offers

Many streaming services are now offered free with other services. For instance, as of the writing of this article, we get Discovery+, Hulu and Disney+ free with our cell service. Previously, we got Netflix free with a different provider.

Check with your cell providers or other services to see if they offer free streaming as part of your plan. In addition to free shipping, you also receive free streaming with a subscription to Amazon Prime.

Antenna

Depending on where you live, you may be able to get most of your favorite shows and movies through an antenna. Antennas work great if you are near a city, but don’t work very well if you are out in the country away from a signal.

If you have a house, an antenna that can be mounted in your attic is a great option. We have one of these in our attic, and we get all of the local stations clearly.

If you don’t have an attic or the ability to place one there, you can try an antenna that sits on your tv, like this bestseller from Amazon.

10. Utilize Your Local Library

This is probably the best alternative to cable of all for ways to save money, and that is to use your local library for movie rentals. Most local libraries boast a large movie library, and as long as you return them on time, you can watch them all for free.

Here are some of the perks of using your library as one of your ways to save:

Interlibrary loan– This is where you can request a video from another library that your library doesn’t have.
Check out for multiple days– with most rental services, you only get the movie for 24 or 48 hours, but with the library, you typically get a week or more to watch the movie.
New titles– Libraries often have quite a variety of genres of movies. Often, you can find a movie that you never would have normally known about.
Books!– Your library also carries books, and books are known to have amazing benefits.

11. Use Natural Cleaners Around the House

You may be unaware that there are several items around your house that are completely non-toxic and are every bit as good at cleaning your home as expensive and toxic chemicals.

Vinegar, baking soda, lemon and hot soapy water can clean almost anything around your home safer and at a fraction of the cost of those store-bought cleaners.

There is no research that using these items can kill viruses around your home, such as COVID-19 or flu, but they are very good at sanitizing a food prep station and basic kitchen and bathroom cleaning.

In my home, I use straight white vinegar to clean my kitchen and bathroom countertops, as well as mirrors and windows. Vinegar and baking soda is great for cleaning grout and stuck on messes.

For shower doors and bathtubs, try white vinegar with a little bit of dawn dish soap. Let it sit for about 10 minutes, then scrub with a sponge before wiping off.

For more info on using vinegar around the house, check out this article from 2018.