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Mastering the art of saving money—keeping more in your pocket and avoiding debt—is no easy task. One of the most impactful steps you can take toward financial stability is learning to budget effectively. With a solid budget, managing financial goals like paying off debt, preparing for retirement, or buying a home becomes much more achievable. Without one, saving small amounts of money will only take you so far.
While discovering effective money-saving techniques is crucial, it doesn't change the reality that the cost of living in many areas is rapidly outpacing minimum wage and median incomes. When you're not earning a sufficient wage, affording the essentials becomes a challenge, and no amount of frugality can completely solve that. The same goes for those affected by the coronavirus crisis—if you've been laid off or furloughed, major steps like applying for unemployment benefits, requesting forbearance, and seeking leniency from creditors become essential.
If your finances are relatively stable, or if you've secured financial assistance during tough times and want to save wherever possible, these methods can quickly add up. Depending on your lifestyle, these savings tactics could help you put thousands of dollars back into your pocket each year. In an era of financial instability, it's always a good idea to boost your savings when you can. A budgeting app can help you stay on top of your finances.
Try out these money-saving techniques, and you might be amazed at how much you can save over time. Editor's tip: There are numerous ways to save money here. Use the navigation on the left to jump to specific sections or hit Command and f on a Mac (Control and f on Windows) to search for topics in this article.
How to Save Money on Everyday Purchases
Use a gift card to manage your budget.
If you have a tendency to overspend on certain items (like eating out for lunch), consider purchasing a gift card at the start of the month for the set amount you plan to spend, advises Anna Newell Jones, author of The Spender's Guide to Debt-Free Living: How A Spending Fast Helped Me Get From Broke to Badass in Record Time ($18; amazon.com). Once the card is depleted, you’re done spending for that category.
Use cash instead of cards.
Alternatively, opt for cash rather than credit or debit cards. Carry cash with you for nights out or casual activities to avoid overspending. Handing over physical money makes you more mindful of your spending—and it might even reduce your expenses.
Set a personal spending limit.
It’s not just for kids: Giving yourself a weekly or monthly budget for discretionary spending lets you treat yourself without going overboard and wrecking your finances. Figure out how much you can afford to spend, then stick to that amount until your next payday.
Implement no-spend days.
"Whether it’s for a few days, a week, or a whole month, taking a break from spending can help you refocus and stay on track with your savings goals. Some of our clients have saved up to $50 a day, and others have put aside more than $3,000 a month using this method," says Shannon McLay, CEO and founder of The Financial Gym in New York City.
Stop paying unnecessary bank fees.
"A lot of people have no idea if their bank is nickel-and-diming them every month," says Erin Lowry, founder of Broke Millennial. Some banks charge checking-account holders up to $12 in monthly service fees. Setting up direct deposit and maintaining minimum balances is often enough to get these fees waived. Additionally, some banks charge even higher fees for using out-of-network ATMs. In 2022, the average ATM surcharge reached $3.14, according to Bankrate, and in major cities, the fee can exceed $5. To avoid these fees, use your bank's app to find in-network ATMs, or visit a convenience store or grocery store to get cash back for free at checkout.
Unsubscribe from unnecessary services.
That free trial for a wellness coach you signed up for and forgot about. The credit-monitoring service you keep meaning to cancel. The gym membership you never use. While none of these individual subscriptions will break the bank, the total can add up quickly to triple digits each month. These "gray charges" (as they’re called in the industry) cost us $14 billion a year. "Companies exploit people's apathy," says Emily Guy Birken, a personal-finance expert and author of End Financial Stress Now ($13; amazon.com).
You can eliminate these recurring charges by regularly reviewing your financial statements or by using a free, AI-powered app like Trim or Truebill. Both apps securely sync with your bank and credit card accounts. Trim will send you a text each month listing your recurring charges, and even cancel any unwanted subscriptions on your behalf.
Become an AARP member.
There are many discounts available, and you can become a member at 18, despite what you might have heard. "I joined at 35, and the $16 annual fee was quickly offset by a discount on a hotel stay," says Roger Ma, CFP, founder of lifelaidout in New York City.
Sign up for rewards programs.
You don't have to give up your morning coffee ritual, but make sure you're getting the most value out of each purchase. If available, join a free rewards program: Starbucks' program is easy to use and offers rewards after spending just a few dollars at the store. Download the app to start earning. For local businesses, check if they have a punch-card system to reward your loyalty.
Always pay on time.
"I've made this mistake myself," admits Annie Logue, an investing and money expert. Most late payments come with a fee, and if you're seriously behind, it could negatively affect your credit score. This could mean higher interest rates in the future, such as on an auto loan. To prevent this, Logue recommends setting up automatic payments. If you're worried about cash flow, use a credit card for these payments and set a calendar reminder for that one monthly due date.
Remove your credit card details from stores.
If you're a regular online shopper, you may have your credit card details saved on your device or on certain shopping websites. While this makes checking out easier, it can also lead to more impulse purchases. Remove your card information so that each time you want to buy something online, you have to find your card and re-enter the details. This added step might give you enough pause to reconsider whether you truly need the item. If you've memorized your card number, try to forget it.
Tips for saving on entertainment.
Don't assume you can't bring your own.
"Snacks and drinks can be pricey at events like sporting games and concerts. Do a bit of research to see if you’re allowed to bring your own. Our family recently saved about $30 at a baseball game by doing this," says Brooke Napiwocki, CFP, former financial planner at Crescendo Wealth Management in Grafton, Wisc.
Request gifts that help you save money.
When friends or family ask what you'd like for a birthday or holiday, consider requesting a membership to places like the zoo, aquarium, or children's museum. A toy might entertain your kids for one afternoon, but a zoo pass can provide months of fun, says Laura Vanderkam, author of Juliet's School of Possibilities ($12; amazon.com) and All the Money in the World ($14; amazon.com).
Throw more events at home.
Rather than heading to bars and restaurants for celebrations or get-togethers, offer to host at your place. (If you're concerned about the coronavirus, try to host outdoors, keep the group small, and encourage social distancing and hand-washing.) You can ask everyone to pitch in for the event, either by bringing food and drinks or contributing a few dollars. Buying food and drinks at the store and enjoying them together is still cheaper than eating out at a restaurant.
Make use of the library.
Your local library offers more than just physical books: Most libraries now provide e-book services, allowing you to download and read books anytime, and many also lend DVDs. Make a habit of borrowing everything you read or watch (outside of streaming) from the library. You’ll be surprised at how much you save. Plus, library cardholders can often score discounts at local businesses.
Buy workout studio class packages.
Purchase class packages (such as 5, 10, or more classes) at your favorite yoga or Pilates studio and enjoy significant savings compared to paying per class.
Use your gym's childcare services.
Many gyms offer affordable childcare services while you work out. "For us, it’s only $30 a month," says Lina Kristjansen, blogger at Five Year FIRE Escape. "Without this, we'd be spending hundreds on babysitters for those hours. This solution has saved our family thousands, helped me get fit, and most importantly, given me the energy I need to keep up with two kids."
How to Save Money on Insurance
Eliminate your mortgage insurance.
If your home equity is below the recommended 20 percent, your lender will charge you private mortgage insurance (PMI), explains Carol Fabbri, CFP, principal at Fair Advisors and executive director at Fair Advisors Institute in Denver. Once you reach 22 percent equity, PMI should automatically be canceled. However, once you hit 20 percent, you can request your lender to remove it. PMI usually costs 0.5 to 1 percent of your loan each year and could rise to 5 percent. For instance, a 1 percent fee on a $200,000 loan would cost you $2,000 annually. If you saved that amount for 20 years (earning 5 percent annually), you’d have more than $68,000.
Eliminate auto insurance fees.
Contact your insurance agent to ask if you're being charged a fee for paying your bill monthly. If so, you can reduce your insurance costs by switching to a six-month or annual payment plan (if you’re able to) to avoid the monthly fee, suggests Amanda Grossman, founder of Frugal Confessions.
Review your car insurance coverage.
If your car holds a low resale value, consider removing collision coverage. Check Kelley Blue Book to find out your car's current worth. Then, take your comprehensive and collision premium and multiply that amount by 10. If your car is valued less than that total, it's time to cancel the coverage, advises Bob Hunter, director of insurance for the Consumer Federation of America, a consumer-advocacy organization.
Notify your insurer about home improvements.
If you’ve installed smoke detectors or an alarm system to enhance the safety of your home, your insurance provider might reward you by lowering your premiums by up to 15 percent. Companies like Allstate, State Farm, and Nationwide offer discounts for home-protection upgrades.
How to Save Money on Clothing
Shop a little off-season.
Retailers receive fresh clothing deliveries regularly, often every two weeks, pushing them to quickly clear out old stock. This means season-specific items—such as summer shorts, sandals, winter hats, and gloves—are often marked down halfway through the season, even though they're still trendy. Avoid rushing to buy the latest pieces for the upcoming season and instead, wait for the discounts when they're still in-season and wearable for months ahead.
Invest in better basics.
When it comes to wardrobe essentials—like a white button-up shirt, black trousers, or a reliable tee—the choices seem endless and available at all price ranges. However, for pieces you'll wear time and time again, it's worth putting your money into higher-quality items. While a cheap black pencil skirt and a pricier version might look almost identical on the rack, opting for the better quality now will save you from constantly replacing the cheaper option, which will wear out more quickly.
Skip the dry cleaning.
Keep your laundry costs under control by always checking the care tags before you buy. If you purchase items labeled "dry clean only," remember that the initial cost is not the final price—consider the cost of dry cleaning each time you wear it. Stocking your wardrobe with clothes you can wash at home will save you a significant amount in maintenance costs.
Pay attention to care tags.
If you're already avoiding "dry clean only" items, go a step further and make sure you're properly caring for the clothes you already own. Just because an item doesn’t need dry cleaning doesn’t mean it doesn’t require special treatment. Check the care instructions and follow the manufacturer's recommendations, whether it’s washing with cold water, laying flat to dry, or hand-washing. This will help preserve your clothes and extend their lifespan.
Ask for a discount.
Have you ever found a piece of clothing you loved, only to notice a small imperfection, like a tiny stain, a torn seam, or a missing button? Instead of walking away, see it as a chance to ask for a discount. Many stores offer damage discounts, typically about 10%, even on sale items. You can easily repair minor flaws at home, making it an opportunity to get a deal.
Explore alternative shopping methods.
Mass-market retailers aren’t your only shopping option for refreshing your wardrobe. Consider hosting a clothing swap with friends, browsing eBay for valuable investment pieces, and checking out your local thrift, consignment, and discount stores.
Protect your clothes.
To keep moths away and prevent holes from forming, line your drawers and closets with cedar sachets. Invest in beautiful padded hangers to help your clothes maintain their shape and look as neat as when they were first bought.
Make bargain finds look luxurious.
Find a skilled tailor (or a family member or friend who’s handy with a needle and thread). A few small adjustments can transform even budget-friendly clothing into something that looks tailored just for you.
Extend the life of your shoes.
Instead of buying a new pair when your shoes start showing signs of wear, invest in having your favorite pair repaired and maintained regularly to keep them in good condition.
Ways to Boost Your Savings.
Start collecting spare change.
It might seem trivial, but coins do have value. If you carry loose change around in your wallet or purse, you're more likely to spend it or lose it in places like your car or couch cushions. By placing your extra change in a jar, you reduce the temptation to spend it unnecessarily. Once your jar is full, you can take it to the bank and deposit the savings.
Stop carrying a credit card balance.
In 2022, the average household with debt paid $1,380 in interest, as reported by the personal-finance site NerdWallet. This interest can trap you in a cycle where it becomes even harder to reduce your principal, leading to more interest payments. Consider using a no-fee balance transfer offer, which could provide you with a 0% APR for up to 18 months, allowing you to make significant progress on paying off your debt. If you’re unsure whether you can clear the balance within the promotional period, be sure to check the APR that will apply after the offer ends.
Set up biweekly mortgage payments.
Switching to biweekly payments instead of monthly ones means you’ll make the equivalent of 13 payments in a year instead of 12, says Fabbri. This reduces the amount of interest you pay and helps you pay down your principal balance faster. Check with your loan servicer to see if they can set up this payment schedule for you.
Use completed debt payment to save more.
Once you pay off a loan, such as a car, home, or student loan, redirect those monthly payments toward building your savings. You can deposit the funds into a high-interest savings account to grow your emergency fund, or put them towards your children's 529 plans, as suggested by Napiwocki.
Invest a month's paycheck without feeling it.
Many individuals receive their paychecks over 26 periods each year, according to Patrick B. Martinez, founder and former CEO of 3/axis Wealth in Chicago. This means that twice a year, you could have three paychecks in a single month. Mark these extra paydays on your calendar and consider putting the additional income into an investment, retirement account, or a high-interest savings account.
Flip work reimbursements.
If you have reimbursable expenses, consider having the funds deposited directly into your savings account rather than your checking account. It can feel like bonus money, says Bola Sokunbi, founder of Clever Girl Finance.
Automate to accumulate.
Many employers offer an auto-increase feature for workplace retirement savings accounts, allowing you to automatically raise your contribution by at least 1 percent at regular intervals, explains Ellen O'Connell, CFP, financial consultant at Fidelity Investments. Set it to increase each quarter until you hit the recommended 15 percent contribution. You likely won’t even notice the gradual increases, and the impact on your savings will be rewarding.
Sneak more money into a Roth account.
Once you've maxed out the $22,500 annual pretax contribution limit for your traditional 401(k), you may still be able to contribute up to $66,000 on an after-tax basis. Some plans allow you to transfer after-tax contributions to a Roth 401(k) or Roth IRA. With these accounts, your withdrawals in retirement can be tax-free. Be sure to check your plan’s contribution rules and limits, advises Ma.
Build an emergency fund.
You might already be working on saving for an emergency fund, but even setting aside a few hundred dollars—before tackling high-interest debt—can be a lifesaver when unexpected expenses arise. Whether your car breaks down or your pet needs urgent medical care, this small buffer, often called a rainy-day fund, can help you stay afloat when disaster strikes. While it may not be the full three to six months' worth of expenses, it’s a start.
How to Save Money on Travel and Vacations
Streamline your errands.
Running errands every day can quickly drain your gas and time, especially when you consider the distance to the nearest shopping area. Save money, gas, and reduce your carbon footprint by grouping errands together on one or two days a week. This approach not only conserves fuel but also minimizes exposure to others during times like the coronavirus crisis.
Be a calm driver.
Aggressive driving can increase fuel consumption by up to 33% on highways and 5% in urban areas, as reported by the U.S. Department of Energy. To save gas, imagine there’s an egg under the gas pedal, advises Christie Hyde, former AAA spokesperson. 'Drive gently, as if you’re trying not to break the egg beneath your foot.'
Take the quickest route.
The shortest route doesn’t always equate to the most fuel-efficient. Driving three miles with stop signs and traffic may burn more gas than driving four or five miles on clear roads.
Plan rental car reservations ahead.
Booking a car for a midweek pick-up often means you’ll pay a lower rate, as weekend demand tends to drive prices up. Additionally, pre-paying for your reservation can save you up to 35% off the total price.
Buy theme park tickets early.
Avoid buying tickets at the entrance of busy theme parks. By purchasing them ahead of time at stores like Sam's Club or Costco (membership needed), you could save up to 25%. Some employers even offer discounted tickets to popular parks, so be sure to ask HR about any employee perks you can access.
Pay tolls smarter.
Sign up for an electronic tolling system like E-ZPass, which works on toll roads, bridges, and tunnels across 19 states from Illinois to Maine, or FasTrak in California, SunPass in Florida, Peach Pass in Georgia, or PikePass in Oklahoma. This will save you time and fuel by letting you skip toll lanes, and many toll systems offer commuter discounts of up to 50%.
How to Save Money on Utility Bills
Ditch cable.
The typical cable bill now exceeds $100 per month, according to a report from Allconnect, but cutting cable doesn't mean giving up live TV or sports. While streaming platforms like Netflix and HBO Max are popular for binge-watching, services like Sling TV and Hulu with Live TV offer live programming for less. Choose the services that meet your entertainment needs, but be cautious—ensure your streaming costs don’t exceed what you paid for cable. If you need everything, cable may still provide the best value.
Shut off and unplug electronics.
Even when you're not using them, electronics and chargers still consume electricity, which can increase your utility bill. Turn off devices, lights, and unplug anything you don’t need to help save on your energy costs.
Go paperless for paying bills.
With stamps now costing 63 cents each in 2023, you’re looking at spending nearly $100 annually just on postage for bill payments—not to mention the risk of late fees if your checks get delayed in the mail. Save both time and money by switching to paperless billing. Most utility companies, phone and cable providers, and medical offices offer digital statements, and some even charge for paper ones. Create online accounts with your recurring services and opt for paperless billing—you’ll receive your bills by email each month and can pay online.
Turn off the water.
Shut off the tap while brushing your teeth or shaving—this simple action can save you around 5,700 gallons of water a year, according to the Environmental Protection Agency. Wash full loads of laundry and dishes to use water more efficiently. Water your plants early in the morning to prevent evaporation, and wash your car using a bucket, rinsing it off quickly with a hose to conserve water. These changes could significantly reduce your water bill annually.
How to Save Money on Taxes
Invest before tax time.
Rather than waiting until tax season in April, consider making your IRA or SEP (Simplified Employee Pension) contributions throughout the year. Historically, the best time for stock market growth is during the fourth quarter, followed by the first quarter. By contributing in September instead of waiting until April, you gain an extra six months of growth during these peak-performing periods. Be sure to estimate your yearly income to ensure you're eligible for contributions, advises Andrew Casteel, CFP, chief investment officer and financial planner at Acorn Financial Services.
Get a tax credit on some home improvements.
When remodeling or purchasing items like solar panels, researching available state and federal tax credits or rebates can be quite beneficial. Fabbri suggests checking resources like DSIRE, which lists renewable energy and efficiency incentives and policies in the U.S., managed by the N.C. Clean Energy Technology Center at N.C. State University.
Take advantage of transportation benefits.
Many employers provide pre-tax benefits to cover commuting expenses such as parking and public transportation fees. These deductions are taken directly from your paycheck and deposited into a special account. You’ll either receive a card for payments or can submit receipts for reimbursement. Depending on where you live, this could save you hundreds of dollars annually. Contact your HR department to learn about the options available to you.
How to Save Money on Your Cell Phone Bill
Call and ask your provider for a better rate.
Some phone providers will offer a discount to loyal customers who pay their bills on time. Kimberly Palmer, a personal finance expert at NerdWallet, advises keeping your request polite and straightforward when calling customer service. Simply ask if there are any better rates available or if it’s possible to negotiate a discount. If they can't offer anything and you’re considering switching, let them know.
You may end up speaking with a different representative skilled in customer retention, so be patient. Palmer suggests mentioning any better deals you've found elsewhere and asking if they’d be willing to match them. There's no harm in asking. If you're not comfortable negotiating yourself, services like BillAdvisor and BillCutterz offer to negotiate on your behalf and split the savings if they succeed in lowering your bill.
Check your data usage.
You can easily monitor your data consumption either on your device or by logging into your service provider's online account. For iPhone users, head to Settings, tap on Cellular, and scroll to see how much data you've used and how much you have left. For Android users, go to Settings and then tap on Data Usage.
Once you're in, you can view your monthly data totals and break it down by app to see which ones are consuming the most. If you’re using less data than your current plan provides, consider downgrading, especially if you're on an unlimited data plan. Keep in mind that data usage increases while traveling, so if you're planning a trip or travel frequently, think about your needs before switching plans, advises Palmer.
Join a family plan.
By sharing the cost of a family plan with others—whether it’s your partner, siblings, or parents—you can lower your individual monthly payment. "While the total cost may be higher, it gets divided among multiple people," says Palmer. "This can save you up to 10 percent per month, which can really add up over time." You don’t need a big family to benefit; just team up with someone in your household who’s also looking to save, and make sure they are reliable enough to reimburse you.
Update your address.
This can work both ways, but Palmer suggests that those who move out of state might find savings. "Taxes and fees tied to your bill are influenced by your state of residence, so if you’ve recently moved, updating your address could lead to savings," she explains. However, you may also face higher taxes or fees in your new state, so it’s wise to research the tax rates first.
Switch providers.
Many service providers now require you to commit to two-year contracts, often with steep penalties for breaking them, assuming you can even exit early. It's generally best to wait until your current contract expires to find a better deal. "Once your contract ends, the power is back in your hands," says Palmer. Some cell phone companies, including Verizon and T-Mobile, offer to buy out your existing contract, but be sure to ask whether they'll cover all early termination fees before making the switch.
How to Save Money on Cleaning Supplies and Household Goods
Skip name brands.
When you don't have a favorite brand, choosing generic options can save you up to 25% of your grocery budget, according to research from Consumer Reports. Many store-brand foods and drugstore products share the same ingredients as their more expensive branded alternatives, says consumer savings expert Andrea Woroch.
Go green.
Opting for reusable containers—such as water bottles, lunch bags, and sandwich holders—rather than single-use plastic ones can save you money in the long run, even with the initial investment. It's also a step toward a greener environment. By bringing your own food and drinks, or using refillable containers, you're less likely to spend on expensive sodas, coffees, or takeout.
Buy concentrated formulas.
When buying products like dish soap, hand soap, or laundry detergent, concentrated formulas may cost a bit more upfront, but they last much longer because you use less of the product. If you're going through bottles of laundry detergent quickly, consider switching to a concentrated version, such as Method Concentrated Laundry Detergent ($10, amazon.com), to reduce the amount per load and avoid hauling heavy bottles. If you have a high-efficiency washing machine, ensure the detergent is compatible and use the correct amount to prevent excess suds.
Mix up homemade cleaning solutions.
Want to skip the inflated prices of trendy cleaning brands? Create your own cleaning solutions at home. Instead of purchasing pricey multi-purpose sprays, combine rubbing alcohol, dish soap, and essential oils following this formula. Common ingredients like vinegar and dish soap are inexpensive, and buying them in bulk saves even more money.
Transfer your homemade cleaning solutions into reusable glass spray bottles for easy use and portability. Plus, mixing your own solution takes just seconds, making it much quicker than heading to the store.
Swap in reusables for disposables.
Disposable cleaning products like paper towels can quickly add up, straining your grocery budget. If your family uses several rolls every week, consider switching to reusable cleaning cloths that can be washed and used again, saving you money in the long run.
Purchase in large quantities.
If you have the necessary storage, buying cleaning supplies in bulk can save you a significant amount over time. Paper products are ideal for bulk buying since they don't spoil or get damaged before use. Plus, having a stocked pantry ensures you won't run out of essentials like toilet paper unexpectedly.
Opt for foaming hand soap.
If you're frequently refilling your hand soap container, consider switching to a foaming soap formula. Since it's already lathered, you'll use less with each pump, making it last much longer.
Though it may be the most budget-friendly choice, liquid soap has been proven to kill more germs compared to foaming soap. If you prefer sticking with liquid soap, make sure to purchase the refill soap in bulk and refill your dispenser, so you avoid constantly paying for a new pump every time.
Look for coupons.
Finding discounted cleaning products is a great way to get the best deal. If you're not keen on sifting through newspapers, you can find printable coupons on Coupons.com, which frequently offers discounts on brands like Mrs. Meyers and Clorox. For Target shoppers, don't forget to use the latest version of the Target app (previously called Cartwheel) to ensure you're not missing out on any available coupons.
Keep a permanent marker in your bathroom.
When purchasing toiletries, especially makeup and skincare products, write down the price and purchase date on the item. When you're ready to buy again, you'll be able to quickly see how much it cost and whether it’s worth finding a better deal. This also helps track how often you use the product, says Brianna Firestone, money coach in Denver and founder of the financial and lifestyle platform The School of Betty.
Keep in mind that vinegar and baking soda are versatile cleaning agents.
While many of us spend a significant amount each year on cleaning products, don’t overlook the powerful cleaning potential of some basic pantry staples. Vinegar can be used to clean everything from floors to clogged pipes. Similarly, baking soda can scrub and deodorize everything from bathroom grout to your gym shoes.
Purchase wine by the case.
Many retailers offer a 10 percent discount when you buy wine by the case, according to Bob Luskin, owner of Bell Wine & Spirits in Washington, D.C. If you're not keen on purchasing 12 bottles of the same wine, ask the manager if you can mix different types of wine in the discounted case.
How to Save Money on Healthcare and Prescriptions
Purchase medications at warehouse clubs.
Warehouse clubs often offer great prices on prescription medications, and you don’t need a membership to buy them. Stores like Sam's Club and Costco allow non-members to use their pharmacies, says Bill Kampine, co-founder of Healthcare Bluebook.
Pay out of pocket for certain medical services.
"Depending on your insurance, it could be more affordable to pay for MRIs, ultrasounds, lab tests, and CT scans upfront with cash. I know of one patient who was quoted $550 for an MRI through insurance, but it only cost $300 when she paid out of pocket. Additionally, consider going directly to the lab for blood tests instead of through your doctor; you could save up to 50 percent," says Kampine.
Use your flexible healthcare spending dollars.
Employees with flexible spending accounts (FSAs) often end up losing money each year by not using their pretax funds before the company’s deadline of December 31 or March 15. Set a reminder on your calendar to stock up on essentials like bandages or even buy a spare pair of glasses. FSAstore.com offers thousands of items that are guaranteed to be covered, making it easy to shop without needing to research the details. Be sure to check your FSA's specific rules, as some plans may let you carry over money or offer a grace period to spend it.
Consider using a retail clinic.
If you have a non-life-threatening condition, such as a rash or a sore throat, consider visiting a medical clinic at a nearby pharmacy (like Walgreens or CVS) instead of going to your doctor, an urgent-care center, or the emergency room. These clinics, run by nurse practitioners or physician assistants, can treat minor conditions at a lower cost.
Try Planned Parenthood.
If you need a routine Pap smear, a new birth-control prescription, or even a flu shot, visit a Planned Parenthood clinic. Call your local office to learn about the services they offer and their fees (which can vary by state but are generally more affordable than private doctors). Most locations accept insurance.
Shop for eyewear online.
Brands like Warby Parker have revolutionized online glasses shopping, making it easy, budget-friendly, and even enjoyable, even if you don't have insurance. If you do have eye insurance, check which online retailers are covered by your provider for prescription glasses and contact lenses. Common options include 1-800-Contacts and ContactsDirect.
Invest in pet insurance.
Ensure your pets are covered with insurance, which can help pay for emergency medical treatments that could otherwise cost thousands.
How to Save Money on Beauty Treatments
Visit the salon less often—while maintaining your style.
Extend the time between salon visits by properly caring for your hair. Limit the use of heat styling tools and wash your hair only 3-4 times a week to avoid stripping it of its natural oils. By taking better care of your hair, you can significantly reduce how often you need to go to the salon, saving money throughout the year.
Skip the shampoo.
When at the salon, ask if you can get a dry cut at a discounted price. While you'll miss out on the relaxing scalp massage, the haircut will be quicker, and you'll save money in the process.
How to Save Money Eating Out
Order drinks individually.
When dining with a group, opt for individual sodas or cocktails instead of ordering a pitcher. Although the large container seems like a better deal, it usually contains more ice than liquid, making it less of a bargain, according to an anonymous restaurant employee who spoke to Mytour.
Choose the right entrée.
When selecting an entrée, avoid chicken and pasta, which are often the cheapest items to purchase, leading restaurants to mark them up higher. Seafood, beef, and pork offer better value for your money, says the anonymous restaurant employee.
Ask if you can bring your own alcohol.
At restaurants, check if you can bring your own bottle of wine and just pay a corkage fee (typically $10 or more). A gracious host won't mind.
Choose tap water.
Bottled water can be marked up by as much as 300%, while tap water is free at most restaurants in the U.S.
How to Save Money While Shopping
Match spending and savings 1:1.
Imagine you're eyeing a $100 pair of jeans. Set a rule: If you buy the jeans, you must also put $100 into savings. This can help control impulsive spending. Even if you give in to the temptation, you're still benefiting your finances, says Kristin Wong, author of Get Money: Live the Life You Want, Not Just the Life You Can Afford ($14; amazon.com).
Time your big purchases.
Big-ticket items often have designated sale periods throughout the year. For instance, September is prime time for deals on kitchen appliances, lawn mowers, mattresses, grills, and bicycles. Keep a list of major purchases, noting the brand and price, on your phone. If possible, wait for sale periods, suggests Firestone. Learn the best times to buy appliances (consider used ones) and cars, and research other large purchases for their optimal sale dates.
Use apps to check prices in real time.
"The ShopSavvy app is really helpful when you're shopping in-store because it lets you scan product barcodes to find better deals elsewhere," says Kimberly Palmer, personal finance expert at Nerdwallet. Andrea Woroch, the money-saving expert, is also a fan of ShopSavvy, along with Flipp, which gathers circulars in one place so you can compare prices and plan your shopping trips more strategically.
Download apps that help boost your savings.
Swagbucks, a favorite of Woroch, lets you earn cashback for your shopping. It puts money back in your pocket by rewarding you with points whenever you shop online or search the web. Once you've accumulated enough points, you can exchange them for gift cards from popular stores like Amazon or Walmart.
Install a browser extension.
Capital One Shopping is a free browser tool that helps you shop smarter online. It securely searches for online coupons, better prices, and rewards at over 7,000 retailers, ensuring you always get the best possible deal.
Consider your credit card.
Be strategic about the credit card you use for shopping to maximize your cash back or rewards, advises Palmer. "For instance, when shopping at Amazon, you can earn 5 percent cash back with the Amazon Prime Rewards Visa Signature," she explains.
Save even more money by shopping with discounted gift cards.
"Platforms like CardCash and Raise offer gift cards at up to 50 percent off, meaning a $100 gift card could cost you just $50," says Regina Conway, vice president of PR and events at Slickdeals. "Some gift cards for popular stores may offer a smaller discount, but every little bit helps, especially on larger purchases."
Mark your calendar for major sales.
Amazon Prime Day and the Nordstrom Anniversary Sale are just a couple of examples of sales that offer significant discounts on a wide variety of items like clothing, home goods, and kitchen products, and typically take place around the same time each year.
Sign up for discount sites' newsletters.
Websites like Promo Codes for You gather discount codes, free shipping offers, and more from popular online stores. You can either check the site frequently to see if there's something you'd like to use or sign up for their email newsletters to stay updated on the best deals. (Promo Codes for You is owned by Dotdash Meredith, the parent company of Mytour.)
Shop sales critically.
Have you already marked Black Friday on your calendar? Are you subscribed to the email lists of your favorite stores to receive special discounts and offers? While it might feel like a savvy shopping move to buy discounted items, you’re really just playing into the strategies retailers use to increase sales. Instead of impulsively buying, ask yourself: "Would I pay full price for this, or am I only tempted because it's on sale?" It’s time to reconsider those email subscriptions.
How to Save Money on Car and Home Repairs
Plan your repairs.
Consider upgrading your air conditioner in the winter and your heating system in the summer. Repair costs peak when demand is high, so taking care of maintenance during off-seasons can help you save on repairs and replacements.
Master your car.
"I’ve learned how to replace a tire, add air, and change my windshield wipers and air filters—each task takes under an hour and saves me hundreds annually. I also only change my oil once a year after checking with my car company, who confirmed it's fine for my engine type and driving habits," says Kara Perez, founder of the financial platform Bravely Go.
Develop a relationship with your mechanic.
"It's really like going to the doctor," says Amy Mattinat, shop owner and president of Auto Craftsmen Ltd. "A mechanic is your car doctor, and each one is different." Mattinat suggests looking for auto shops certified by AAA or the National Institute for Automotive Service Excellence (ASE).
"If a customer is seeking quality service, those technicians have the experience, skills, and pride in their work," Mattinat explains. AAA-approved shops undergo regular inspections and must pay fees to maintain their status. ASE certifications are granted to technicians specializing in engine repair, transmissions, or HVAC systems.
Get a second opinion.
If you haven't found a trusted mechanic yet, Mattinat advises exploring different options. When receiving an estimate, ask for a detailed breakdown of parts and labor. Take that estimate to another mechanic for a second opinion. Since each car requires specific parts based on its make, model, and year, a fresh set of eyes can provide a fair assessment. And if the second opinion offers a cheaper solution, you’ll save money.
Ask about used parts.
Once you've decided to proceed with a repair, inquire about using used parts. "Occasionally, a headlight gets cracked or waterlogged, or you might break a side-view mirror," Mattinat explains. "We can sometimes replace those with used parts, which can save quite a bit of money." However, as with any used item, ensure you're not opting for the cheapest option; aim for the highest quality. Investing in a used part that fails soon after installation could ultimately cost you more in the long run.
Save money for sudden repairs.
Car repairs often come with unexpected costs. By saving for potential repairs, you'll be prepared for emergencies. "This way, when your car needs a new battery, for example, it won't be such a shock," Mattinat advises. After your vehicle is paid off, set aside half of what you were paying on the loan each month. Don't use this for gas; instead, save it for maintenance like new tires or windshield wipers. "Parts wear out, that's just how it goes," Mattinat says. "Your car will always require some level of investment."
Maintain your vehicle
The most effective way to avoid costly repairs is to keep up with regular maintenance, including oil changes and brake checks, says Mattinat. Follow the guidelines in your owner's manual for the specific type of oil your car needs and how often it should be changed. In areas like Vermont, where winters are harsh, you may need more frequent servicing than the general recommendations. Spending $50 on an oil change now could save you hundreds later.
Disregard the tire manufacturer's advice.
Instead of relying on the number on the sidewall of your tire when adding air, inflate your tires to the pressure listed on the sticker inside the driver's-side door frame or in the glove compartment. Doing so can boost your fuel efficiency by 3 percent. Keep in mind, the number on the tire is not tailored to your vehicle’s specific needs, as different cars have different weights. Ensure your PSI is adjusted to suit your car’s requirements—but avoid overinflating your tires.
Additional reporting from Stephanie Taylor Christensen, Rebecca Daly, Kristine Gill, Katie Holdefehr, Maggie Puniewska, Elizabeth Razzi, and Rachel Sylvester.
