47 Creative Money-Saving Tips

1. Do not buy things just because they are cheap.
It is human nature to want to take advantage of a great deal, but do not purchase something that you do not need just because it is cheap. It is irrelevant what the price is if you do not need the product in the first place. If you find yourself searching for items that you “could” use, get out of there!

2. Meet your neighbors.
When it comes to saving money, your neighbors are an invaluable resource. If your mower breaks down, would you rather buy a new one right away, or would you rather borrow someone’s for a day and then take the time to find a great deal? If you are going away for the weekend, would you prefer to take your pet to an expensive pet hotel, or would you prefer to give your key and $10 to your neighbor? You get the point.

3. Shop for appliances with the “Energy Star” sticker.
The “Energy Star” sticker is included on products recommended by the Environmental Protection Agency, because they use up less energy than their counterparts. Less energy = less money to the electric company.

4. Take advantage of student services.
There are a wide variety of personal services that you can obtain very cheaply through students. Veterinary schools, beauty schools and dental schools (to name just a few examples) all offer services by students under the supervision of professionals. Because you are allowing them to gain experience, the cost will be very low -- or even free -- for you.

5. Go to the library.
If you do not already frequent the library, you are missing out! Not only does it give you something to do and negate the need to purchase books, but you also can cancel your magazine subscriptions and burn your movie card. All are available free of charge.

6. Be a stay-at-home parent.
If you are married and have young children, then consider the possibility that it might make more financial sense if either you or your spouse becomes a stay-at-home parent. Particularly if a spouse works part-time, compare one’s wages to the cost of travel, childcare, and that valuable time away.

7. Get flood insurance.
Even if flooding might seem unlikely in your area, the truth is that it is the most common type of natural disaster. Insuring yourself against potential flood damage could save you thousands of dollars in repairs.

8. Track your expenses.
It is difficult to budget money and cut back on spending without first knowing where exactly your money is going. For one week, write down everything on which you spend money. You may be quite surprised to find out how much of your cash is eaten up by “small” expenses, such as coffee or parking meters.

9. Set both a monthly and a weekly budget.
Developing a budget that you can stick to necessarily must begin with your monthly intake of cash and expenses. Make sure to break down your “expendable” income into weeks, however, so that you can track expenses more easily.

10. Pay in cash.
It is much more difficult to hand over a wad of hard-earned cash that it is to swipe a little piece of plastic. Credit cards many be handy, but paying in cash will cause you to spend less.

11. Try the envelope method.
Combine the practice of paying in cash with sticking to your budget. Once you have set your budget for the month, label an envelope for each expense – for example, “entertainment”, “food”, etc. Put the appropriate amount of cash in each envelope. When the cash runs out, you no longer can spend money on that expense for the month.

12. Do not allow past spending to affect present spending.
When we already have spent money, it makes it easier to spend even more. Do not allow yourself to turn a small spending mistake into a much larger mistake by thinking “well, since I’ve already blown my budget…” What you save from here on out counts.

13. Turn down your heat or air conditioning.
Every degree that you “save” on your heat or air conditioning – that is by keeping it cooler in the winter and warmer in the summer – can save you 3% on your energy bill. At the very least, alter the temperature when you leave the house or go to bed – we have blankets for a reason!

14. Rethink taking a second job.
Second jobs almost always help one’s finances, but understand how your taxes will be affected before you decide to take such action. It is possible that a second job could catapult you into the next tax bracket, and all of the hours you put in may not add up to very much money after all.

15. Recycle.
Recycling is not just good for the environment – it also can be good for your wallet. Many recycling centers offer cash incentives for the products that you collect. In addition, you should “recycle” household items for which you may have other purposes… i.e., there is nothing wrong with “re-gifting” if it is a nice gift for which you simply have no use.


16. Use Froogle.com.
The name says it all. Shop online at froogle.com to search for the best price on the items that you need.

17. Unplug your appliances.
Unplugging your appliances before you go to bed may seem insignificant, but it can save you money on your energy bill. As an added bonus, your house will stay naturally cooler in the summertime.

18. Get rid of your land line.
Many people nowadays choose to forego their land line phones in lieu of cell phones, and this can have financial benefits as well. Most cell phone plans provide free long-distance, so this is great perk if you have distant family or friends. You also can save on the monthly service fee of your land line.

19. Shop at thrift stores and dollar stores.
Thrift and dollar stores sometimes get a bad rap, but you will be amazed at the deals you can find. Thrift stores offer name-brand clothing for a fraction of their retail values. Dollar stores consistently offer the exact same products offered in other stores, but for a much cheaper price.

20. Alter your date night.
Nothing says “date night” like dinner and a movie, but switching up this trend can save you a lot of money over time. Matinee movies (which generally start before 6pm) are much cheaper than are later movies, so perhaps go to a movie and then to dinner. Similarly, dinners are much more expensive than lunches, so invite a friend or date to join you early in the day.

21. Treat savings just like you would a bill.
It is much easier to save money if you consider it mandatory. As you write out checks to the realtor, phone company, and electric company each month, put a specified amount into savings as well. Consider automatically transferring money into your account.

22. Check your credit report.
Frequently monitor your credit report for errors, because even small mistakes of the negative variety can translate into very real differences in the interest rates you receive. By doing so, you also will be able to spot any unusual activity with which you are unfamiliar – a key method of protection against identity theft.

23. Clip coupons and sign-up for store discount cards.
It can be a pain to gather coupons and even harder to remember to use them, but the savings really do add up very quickly. Store discount cards, such as the “Kroger Plus” card, for example, are another great tool. At some stores, you can save money on nearly everything just by being a card-holder.

24. Beware of the bar.
Keep the same financial goals in mind when you are at the bar that you do when you are going about your daily business. Alcohol can aid us in making some very foolish purchases, i.e. “drinks for everyone!” Let “everyone” take care of their own drinks.

25. Buy food from the generic brand.
Do you think that the generic brand food is less quality than the name brand? Are you sure?? In actuality, many “generic” brands actually are manufactured by the same company as the name brand!

26. Buy generic medicines.
Medicine is something that you do not want to skimp on, so the hesitancy in buying generic medicines is understandable. If you just read the labels, however, your fears should be calmed. In large part, national brands and generics brands of medicine contain exactly the same active ingredients in the same concentrations.

27. Increase the deductible on your insurance.
You may have to pay more for small expenses than you would otherwise, but increasing the deductible on your insurance will save you more money in the long-run.

28. Do not shop for tonight’s dinner right before dinner.
It is best to go shopping for groceries once every week or two. If you shop right before dinner, you will end up spending much more on a single meal than you would have otherwise.

29. Buy gently-used appliances.
If people have no problem buying used cars, then why not buy used appliances as well? When shopping around for a big-ticket item, check the newspaper or eBay to explore your options. Buying new is not the only way, and you can find a great deal by purchasing used.

30. Look for coupons online.
Many stores and restaurants put valuable coupons on their websites. Take a look!


31. Insulate your windows and doors.
Make sure that there are no drafty gaps near your windows or doors. This lack of insulation can cost you big bucks in energy bills from your heater and air conditioner.

32. Go for a buffet.
Seriously, who doesn’t love a buffet? Something for everyone in the family, all you can eat, and - most importantly - a fixed price.

33. Comparison shop on your utilities periodically.
Once you choose companies to provide you with utilities, you probably never think twice about the decision. Very often though, people miss out on better options because they do not bother to investigate. Periodically compare the companies with which you work to others, to ensure that you’re getting the best price possible.

34. You will not miss money that you’re not used to having.
If one of your bills is less some month that it usually is, then save the difference. Unless you have debts to pay off, that money is better spent in your bank account than anywhere else. Similarly, if you receive a raise, consider depositing all of your additional income into savings.

35. ATMS are convenient, but…
… you should not have to trade convenience for costs. Avoid ATMs that are not part of your bank’s network, because “convenience” fees at these machines can be up to $2.50 per transaction! Whenever you find yourself using an ATM, take out more money than you immediately need so that you do not have to search around for your bank’s ATM later. (Or, if you choose to ignore the above advice, so that you do not have to pay $2.50 again!)

36. Get pre-approved.
Obtain pre-approval for important financial products such as mortgages or auto loans. By doing so, you are in a much better position to bargain than you otherwise would be.

37. Quit smoking.
The financial perks of not smoking are three-fold: You can save money (1) by not buying cigarettes, (2) by paying less for health insurance, and potentially (3) by having less medical bills in the future.

38. You do not need an extended warranty.
Many electronics and other big-ticket items offer extended warranties for an additional cost, but this expense very rarely is necessary. Think about how often an item actually breaks during this time period – pretty unusual, isn’t it? The basic warranty is just fine.

39. Get a pet from the animal shelter.
If you are thinking about getting a cat or dog, then visit your local animal shelter. Not only will you be saving a pet, but the minimal adoption fee usually includes spaying or neutering, as well as vaccines. Furthermore, a pet will give you something to do and more of a reason to stay home – instead of being out and spending more money!

40. Few things in life are more frustrating than overdraft fees.
Sometimes it is easier to part with your hard-earned money when you ignore your bank account, but this method is not the smartest. Though it is quite counter-intuitive to take more money from someone whose bank account is insufficient to cover costs in the first place, this is reality. Overdraft fees can be huge, and often are taken for each separate transaction. Paying a minimal fee for overdraft protection can be a great investment.

41. Keep your receipts.
If you throw away your receipts after a purchase – or if you fail to remember exactly what you’ve done with them – then you are missing out on the whole concept of receipts. If you are unsatisfied with an item that you have purchased, then your receipt is as good as money in your pocket. Receipts also come in handy at tax time, so that you can write-off all deductions for which you are eligible.


42. Purchase goods at the best place possible.
Some items are priced more cheaply at certain stores than at others, so do not pay more than you have to just because you already find yourself in a store. For example, toiletries and medical products tend to be highly priced at grocery stores, while convenience stores tend to price everything highly. Of course, the cost of gas to take you from one store to another must be taken into consideration, as well.

43. Stop junk mail.
It can be difficult to try to save money when every day you are inundated with offers for new products in your mailbox. Contact the Direct Marketing Association to take your name and address off of the contact list.

44. Have a yard sale.
It may be easy to throw or give away the possessions you no longer want, but such methods mean you literally are throwing or giving away money. There are lots of frequent yard sale shoppers, and your time and effort in organizing your own definitely can pay off. If you prefer to donate your items to charity, however, then ask for a receipt so that you may write off donations from your taxes.

45. Consider the total cost of an item.
When you are deciding whether or not to spend money on a big ticket item, consider if you have the funds to pay for the item in full – not just the ability to make the monthly payments. Contemplating your purchase in this context is a good indication of whether or not the expense is a responsible idea.

46. Drink tap water.
Hard as it may be to believe, there is nothing wrong with drinking tap water. If it has passed inspections, then it is fine to drink -- and much, much cheaper than bottled water. Of course, that does not mean you should waste it. Running water when it is not necessary – such as when you are brushing your teeth – is washing money right down the drain.

47. Everything is negotiable.
If you think the prices that you pay for goods and services are set in stone, then a little bit of bargaining could prove you wrong. It might seem crazy, but simply asking for a better price or better interest rate actually works in many cases! In particular, you may want to ask if expensive medical bills can be adjusted, if interest rates on your credit cards can be lowered, if your monthly insurance payments can be lowered, or if a creditor will settle your debt for a smaller sum.