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25+ Ways To Save Money Each Month

Are you looking for ways to save money this year? How nice would it be to have a little extra money to use each month? Taking part in these money saving tips could help change your financial life in many ways.

There could be a number of reasons for why you might be looking to save money, but whatever the reason may be, if you’re looking for some of the most cost effective and easiest ways to save money in 2020, then you are in the right place!

Let’s stretch that income, save some money and get some more flexibility in your budget!


It may seem obvious, but;

Start Saving Now.

Just start saving! Without thinking of income or wages, dig out those quarters and behind-the-couch coins and start putting anything you can aside. Open your wallet and see what you could start with right now. Whether that be $1 or $10, whatever you can, whenever you can. Better yet, get one of those tins you can only open with a can opener, it helps stop the temptation to just open the jar and grab some saved-up cash.



Think Before You Spend.  

Another seemingly obvious or simple money saving tip, but this is something many of us do not do regularly. If we could get into the habit of doing this, not with only large, but all purchases, it could drastically help your money situation for years to come. Ask yourself, does buying this really make me happy?

We have all had that splurge at the mall or supermarket and then felt that purchase regret later on, mad at our self for wasting money or adding to our debt. Sometimes it takes months to dig something out of the wardrobe or drawer, that has never been worn or used, and understand that, that purchase was a complete waste of money.

Next time you’re about to make a larger purchase than usual, or buy something just because you want it, not need it, stop and ask yourself some questions;

  • Do I need this item?
  • Can I afford this item? (Especially if buying with a credit card).
  • What else could I use this money for?
  • Is this item available from a friend to borrow or buy second hand instead of paying full price?
  • Is there a return policy if I do not want this item later on?
  • Would saving this money instead of spending it right now make me feel good about myself?

Many couples also get into angst by making financial decisions with their partner that they later regret. Find out what financial decision 20% of Americans Regret Making With Their Significant Other.


Do Not Pay to See Your Credit Score.

It’s always good to know your credit score as it can affect whether or not you are approved for a loan, alter your interest rates and more. There’s no reason not to be able to know this without cost to yourself. You could soon be saving money that may be unnecessarily being spent right now.

Many companies charge you for your credit score, and some people even pay for this on a monthly basis. Now though, you can find out your credit score, pretty much easy-peasy, and for free.

Sites like Credit Sesame and Clear Score give you the tools so you can check your credit score for free! This is a great step towards improving your credit score and possibly saving money in the long run.


Budget Your Spending.

Simply, budgets help people manage their money better.

Budgets are one of the best ways to save money because they keep you mindful of your spending and of your general income and expenses. Budgets help people reach their goals, feel better about money, pay off debt and much more. When utilizing a budget, you will know how much you have to spend each month and how much you have to work with. It helps to budget in different categories and really know your incomings and outgoings.

Start to budget your today and watch how much money you save by not allowing yourself to overspend on items or things you do not need or cannot afford.

Related content on Budgeting:


Stop Gambling Now.

While it’s nice to dream big and just hope you’ll win the lottery or have that lucky roulette spin, realistically gambling is an extremely risky action that could land you into a lot of debt and cost you a ton of money. Like with budgeting if you are going to allow yourself to gamble, you need a budget and know your stopping point before you potentially get in too deep. Keep in mind that casinos exist for a reason and why they make so much money; people lose their money.


Stop paying for TV.

The average TV package is over $100 a month and this figure has no plans on stopping its increase. If you’re looking for another easy and simple solution to saving money, no longer paying for TV packages is one of them!

There are so many low-cost streaming services that can sort your entertainment needs, and lower your costs to do so. Including Youtube, Amazon Prime Video, Netflix, HBO Now and many, many more!

Also, check out more reasons to cancel cable tv and save money.

Find Easy Ways to Save Money on Entertainment

Like stopping paying for TV packages, there’s many ways to cut-back, and even more inexpensive ways to enjoy yourself and have some fun. Have a good look at what your monthly “fun” spend is and you might be surprised. That “fun” can end up turning into a lot of financial stress! Using your credit card wisely as mentioned within this article can get you many free perks. Lots of people have a fear of missing out on fun that they later find out was silly.


Visit the Library

The library is a super easy way to have fun, expand your knowledge base or test out some new equipment. Your local library will have internet facilities, books to your hearts content, free movies to take home and watch and many have borrowing facilities for such things as telescopes, professional camera’s, GoPros, and more! Get yourself down to your local library and grab yourself a library card. Your taxes pay for it, so use it, it’s free!


Shop for Your Insurance Needs

Insurance can be an annoying but necessary expense. You may be wasting money by not switching or stopping plans that you may no longer use, or could find a better tariff for.

It’s quite possible that you could be paying a much higher rate for various forms of insurance and even more than likely than you are paying too much for car insurance.

The average person doesn’t fully understand how insurance works, but it’s something that you’ll definitely want to learn about because it is one of the best ways to save money!

By understanding insurance terms as so not to get caught out, shopping around at different companies and changing some of your coverage amounts could stop you wasting money today. Many insurance companies will offer a discount if you just call and ask! Seriously try it, they want your business, so see what they are willing to offer you. This is one of the super easy ways to save money and it is just a phone call away!


Get Cash Back On Credit Cards or Credit Card Travel Rewards

Now this is not possible for everyone. You need to be good with credit cards and managing your money, but getting cash back and other perks are easier than you think. The best way to get free rewards, points and cash back is to use your credit card to pay off most, if not all, of your expenses for the month. Once you are paid your wages, completely pay it off and you could be rewarded handsomely for using your credit card like this over a period of time. Think free hotels, free vacations and more!


Stop Eating-out

This includes eating-in with takeaways. Many people are surprised when they actually sit down and track how much they’ve spent. A couple can easily spend $50 on a meal out, and if you do that multiple times a month, that soon adds up to hundreds of dollars. Buy consciously deciding to not eat out or keep grabbing takeaways in, and instead whipping something much cheaper together at home, there is the potential to save a ton of money over the period of a year.


Meal Prep and Save Money

Another very easy way to save money is by meal planning. Not only will it help save money, but you will notice less food waste and feel better from eating better. Deciding what to eat can be the most frustrating and time consuming thing, and there’s many free meal plans you could find and structure, but if you’re looking to save time as well as money, for just $5 a month you can get meal plans sent directly to your email! Start your 14-day free trial today, click here! And check out our recipes on making homemade snacks.


Take Lunch to Work

I used to work in the city and without travel expenses I would spend anything between $10-20 buying out lunch every day! I used to think it was a small purchase but it soon crept up and after working it out I realized, that’s way too much to be spending on food during a working lunch break! Especially when most of my purchases were made with my credit card. Taking meals to work from home, has the potential to save you at least $100 a month. If you’re not doing the meal prep, just make an extra portion of what dinner is the night before and pack it away for lunch the next day!


Save Money on Your Grocery Shopping

We have all put a cheeky cake, that bottle of booze or packs of chips in the basket when we walk blindly into the supermarket, having no noted list or budget. By implementing just a few easy tips you can save money on your food and grocery expenditure.

  • Sign up to all the stores you use for loyalty cards.
  • Remember to use these cards every time you go (as little as some points are, if used regularly you will end up getting something back).
  • Meal prep will help to decide exactly what you do and don’t need from the store.
  • Always go in the store with a list.
  • Never go grocery shopping when you are hungry, even with a list, you will go off-list!
  • See if there are any decent items you need in the sale aisle/section within the store.
  • Use coupon codes when you can.
  • Always re-use your bags. Put them somewhere that will remind you to use them. How frustrating is it having to buy bags at the end of your shop with a drawer full of bags at home that you forgot to take?

While seemingly simple, this is something many of us do not do. Try them and I’m sure it will help you to save some money on your food shopping.

Stop Buying Bottled Water

Many of us buy bottled water for our homes when you can probably drink the water straight from your tap in your kitchen.

If drinking straight from the faucet is not possible in your area you can buy a water filter. There are many inexpensive home and travel filters now and you do not need to keep spending $$ each month just for water. Buy a water filter and just feel that quench of money being saved!


Get More Affordable Transportation

Whether it is bought used, new or rental, motor expenses go up, and up, each year. We can get caught-up in a web of car debt when most likely we are overpaying for what we are using. According to Motor1.com the average American spends nearly $800 a month on their car! If your car expenses are more than 10%-15% of your monthly income you need to start making things more affordable for yourself and start saving some money!


Get rid of your car

Now you might be reading this and thinking I’m crazy for including this but I have gotten rid of my car in the last two years. By doing this I have I saved money on gas, insurance, tax, MOT, general servicing, maintenance and more, and you can too! There are literally thousands to be saved by ditching your car. If you are a two-car household, you should think of getting rid of one as this could be the best way to save money in 2020. You could also carpool with friends and family whenever possible, use ridesharing services like Uber or Lyft if you really need some wheels.


Get on Your Bike

If you can ditch four wheels for two and your destination is pretty close, always choose your bike! Not only does it save on petrol or travel expenses, get you that little bit fitter every-time, it’s also eco-friendly!

If you have shopping to do and the store is close enough, attach a basket to your bike so you can grab some bits. It might not be a weeks’ worth but you’ll be much more mindful of what you buy.

Remember to wear a helmet and take other safety precautions that you deem necessary, and always bring a lock to keep your bike safe!


If you have implemented the above, and you haven’t already;

Cancel Your Gym Membership

Get walking. Get running. Keep cycling. Go to your local baths and get swimming. Gym membership can be a costly yearly expense and cancelling this today or ASAP if you are set into a plan is one of the easier ways to save money. While some gym memberships can be beneficial there are a number of free ways to get fit and save money!

This is one of the best ways to save money and one that also encourages you to get outdoors more and explore the world around you!


Find Freebies Online

You can now find people listing free stuff on sites like Facebook Marketplace or Craigslist. People love to get rid of things and you’ll be surprised and what you can find. The same goes for you. Give anything you don’t need away; donation places may sometimes be full but there are people like us looking for a bargain or a freebie online! Doing this long run can save everyone money in the long run.


Buy Used Furniture

If searching for freebies is not for you then another way to save money is to stop buying your household items new! Many people are looking to sell good condition second-hand sofas, beds, stands etc and many are just a click away! There are tons of second-hand furniture stores, online stores and markets to choose from that there will most certainly be a bargain out there for you!

*PRO TIP* – you can also go to CraigList and get practically brand new furniture for free! As in 100% free. When people are moving and can’t sell a $800 for $50 because they listed too late, which is often, you’ll see tons of listings for “pick it up, it’s yours for free”. I actually had to do this in Los Angeles and gave away over $3000 in perfectly good furniture that was in 99% new condition.


Have Some Savings or Emergency Funds

While it can be difficult to put funds away to save, hopefully implementing some of the techniques above will greatly save you in the long run. Not only can you make interest on funds left within a savings bank account, it will give you piece of mind for those surprise expenses. Without emergency funds you could end up taking out a loan you really didn’t want to, or spending more than you’d like on your credit card.

And shop online for the best interest rates today!


Stop Comparing Yourself to Others

With the world showing-off their best life it’s hard not to get caught up in the desire to keep-up with trends. With so much temptation at the click of any button nowadays, you need to keep yourself focused on what it is you need, and not what others and have. Remember people don’t share their financial woes or worries from buying all these nice things. Paying off any debts and saving for a hopeful early retirement will allow you to live a healthier and more mindful life.

Instead of thinking you need to keep up with others you should try and stay focused on what it is that will actually make a difference in your life.


Go Minimalist

This can scare people off as it can be a daunting task, but trying to manage everyday life, sort your finances, keep the house and a number of other things can be difficult. Starting to declutter your life today will help you in all aspects of your life including financial, health and home.

There’s many ways you can start to declutter, and simplifying can include;

·       Decluttering or even downsizing your household cupboards and wardrobes

·       Having less clothing options (we all have multiple things in our wardrobe we never wear!)

·       Spend less time on social media or have a break (does it really enhance your day?)

·       Sort your finances and make a plan to get your debt down or completely paid off within the year

·       Automating payments or paying expenses annually instead of monthly

Related Content to Minimalism:

These are just some of the many ways you can start to simplify your life today.


Just do what YOU can.  Every little really does help, but you just have to do it!

Which money saving tips have you implemented? Any of them not on this list? Do share below.

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