23 Money Saving Hacks That Work

Looking for money-saving hacks that work?

Money-saving hacks can help you keep more cash in your pocket. These tricks make it easier to stretch your budget without giving up the things you enjoy. By learning a few simple money saving tips, you can find ways to spend less on everyday items and build up your savings.

Plus, many of these ideas are quick and easy to put into practice. From shopping smarter to cutting down on bills, there are lots of ways to save money in your daily life. With a little creativity, you can find new ways to reduce your expenses and reach your financial goals faster.

Best Money Saving Hacks

Below are my favorite money-saving hacks that actually work.

1. Use cash back apps

Cash back apps can help you save money on things you buy every day. These apps give you money back when you shop at stores, buy groceries, or fill up your car with gas.

These apps are free to use and easy to set up. You can get started by downloading them on your phone. Remember to check the apps before you shop to find the best deals.

I use the apps below ALL THE TIME, so I know they are real!

My top cash back apps are:

• Fetch Rewards – You just take pictures of your receipts to earn points. You can use these points to get gift cards for places like Amazon or Target.
• Swagbucks – Earn points for shopping online, answering surveys, watching videos, and more, then redeem them for gift cards or cash.
• Rakuten – Lets you earn cash back when you shop online or in stores. You can get money back on clothes, food, and even travel. This is real cash you can get, either through PayPal or a check.
• Upside – It shows you nearby gas stations where you can earn cash back. You might save up to 25 cents per gallon!
• Honey – Automatically find and apply coupon codes at checkout to save money while shopping online.

You can see my full list of favorites at 14 Best Cash Back Apps To Make Extra Money.

2. Get a library card

A library card is a ticket to lots of free stuff. It’s not just for books anymore. Many libraries now give way more than that.

You can borrow movies, music, and even video games. Some libraries lend out tools, kitchen gear, and art supplies too. My local library also lets you borrow state park passes, telescopes, hiking gear, and so much more.

Your library card might get you free passes to local museums and zoos. This can save you lots of money on fun outings.

Libraries usually have free classes and events too. You can learn new skills or enjoy family activities without spending a dime.

Getting a library card is usually free and easy. You just need to show proof that you live in the area. If you are seasonal or part-time somewhere, you can usually still get a library card but may have to pay a $10 or $20 fee, which still makes it a great value!

We usually go to the library once a week to get books and go to their children’s events. I love going and I feel like most people do not go enough!

Recommended reading: 13 Ways To Get Free Books Online and Sent to You

3. Buy generic brands

Switching to generic brands can save you a lot of money. Many generic products are just as good as name brands but cost less.

You can find generic options at grocery stores for everything like cereal, pasta, drinks, and cleaning supplies.

It’s not just for grocery shopping – you may be able to buy generic medications too. They have the same active ingredients as name brands but are much cheaper. Ask your doctor or pharmacist about generic options for your prescriptions.

4. Cook at home

Eating out can cost a lot of money. Cooking at home is a great way to save cash. You can make tasty meals for much less than restaurants charge.

My best tip is to plan your meals for the week. This helps you buy only what you need at the store, and it also stops you from getting takeout when you’re tired.

One thing I like to do is to make extra portions when I cook. Then, I can use the leftovers for lunch the next day, and this cuts down on food waste and saves you from buying lunch. Plus, it saves me a lot of time!

Don’t forget about your slow cooker. It’s great for making big batches of food. You can eat some now and freeze the rest for busy days. Personally, I have this Instant Pot (a slow cooker, pressure cooker, and air fryer all in one). If you want something more affordable, a Crock-Pot can usually be found for around $30 on Amazon – here’s a popular slow cooker.

Recommended reading:

5. Cancel unused subscriptions

Do you have subscriptions you don’t use anymore? If so, it’s time to save money by getting rid of them. I recommend that you look through your bank and credit card statements to find recurring charges.

My credit card actually will list out all recurring charges for me, so they are easy to find – you should see if yours does as well! If not, just comb through your expenses and see what you can find that you may be charged for perhaps each month, every 3 months, every 6 months, and once per year.

You should check for streaming services, gym memberships, or apps you’ve forgotten about. These small fees can add up fast without you noticing.

For iPhone users, go to Settings, tap your name, then click on Subscriptions. You’ll see a list of what you’re paying for from your phone. Android users can check the Google Play Store for their subscriptions.

And, don’t forget about free trials that turned into paid subscriptions. These can slip by unnoticed and cost you money each month. I know many, many people who are unknowingly paying hundreds of dollars for YEARS because they didn’t realize their free trials had turned into paid subscriptions, and they weren’t even using the subscription. $10 or $20 a month may not seem like much, but this can easily be $200 per year that you are wasting.

You can also try calling companies to cancel or get better deals. Some might give you discounts to keep you as a customer, so this can save you money if you still want the service.

6. Shop with a list

I know how easy it can be to go into a store like Target and feel like you want and need everything in sight.

Making a shopping list before you shop can save you money. Write down what you need before you go to the store as this helps you avoid buying things you don’t really need.

Stick to your list when you’re shopping. Don’t grab extra items just because they look good. If it’s not on your list, you probably don’t need it right now.

7. DIY cleaning products

Making your own cleaning products can save you money. You can use simple ingredients from your kitchen to create cleaners that work.

You can make all-purpose cleaners, wood polishes, and even laundry detergent.

8. Automatic transfers to savings

Setting up automatic transfers is a smart way to save money. You can ask your bank to move money from your checking account to your savings account on a set schedule (such as with each paycheck). This way, you don’t have to remember to save each month – there will be an automatic direct deposit instead.

Many banks let you do this for free. You can choose how much to save and how often. It could be weekly, every two weeks, or monthly. Pick what works best for you and your budget.

This method helps you save without thinking about it. The money goes into savings before you can spend it. Over time, your savings will grow without much effort on your part.

You can start small if you’re not sure how much to save. Even $10 or $20 a week adds up over time. As you get used to saving, you can increase the amount.

9. Use public transportation

Taking the bus or train can save you a lot of money. You won’t have to pay for gas, parking, or car repairs. Many cities also have cheaper monthly passes for regular riders.

Public transport is also good for the planet too. It cuts down on pollution and traffic. You can relax, read, or work during your ride instead of dealing with stressful driving.

10. Negotiate bills

Did you know you can save money by negotiating your bills? Many people don’t try this, but it can work well.

You can start by calling your service providers, such as cable, internet, and phone companies, and asking if they have any new deals or discounts.

You should be friendly but firm when you talk to them. Let them know you’re thinking about switching to a competitor, and they might offer you a better rate to keep you as a customer.

For medical bills, talk to the hospital’s billing department. They might be able to give you a discount if you pay in full or set up a payment plan.

11. Budget

I’m not sure if this really counts as a “money-saving hack” because it’s not a secret or a trick, but so many people skip having a budget!

Making a budget is the key to saving money. You can start by writing down how much you earn each month, and then list all your bills and spending.

Then, look at where your money goes. Are there things you can cut back on? Maybe you can eat out less or cancel some subscriptions. Or, maybe you can cut your utility bills by switching to a smart thermostat.

Make sure to review your budget often. Things change, so your budget should too. Update it when you get a raise or have new expenses.

Note: Also, don’t forget to have an emergency fund! This can help you to afford unexpected expenses that come up.

Recommended reading: The Complete Budgeting Guide: How To Create A Budget That Works

12. Buy secondhand

Buying secondhand is one of my favorite ways to save money, and I do it all the time! From clothing to baby gear, I’ve found so many high-quality items at a fraction of the price. I love visiting thrift stores and browsing online marketplaces.

It’s not just about saving money – it’s also fun to hunt for unique finds and give pre-loved items a new life. Shopping secondhand isn’t just budget-friendly either; it’s also a great way to be more eco-conscious.

Buying secondhand items can save you lots of money. You can find great deals on clothing, furniture, and electronics at thrift stores or online.

13. Use a high yield savings account

A high-yield savings account can help your money grow faster. These accounts can give you higher interest rates than regular savings accounts.

Many banks and credit unions have high-yield savings accounts, and you can open one online or at a local branch.

These accounts are great for emergency funds or saving for big purchases. You can easily transfer money in and out when needed.

Remember to shop around for the best rates. Interest rates can change, so check your account regularly. You might find better deals at other banks or credit unions.

I personally use Marcus by Goldman Sachs as they have a very good rate. You can get up to 3.90% at the time of this writing through a referral link bonus. According to this high-yield savings account calculator, if you have $10,000 saved, you could earn $390 with a high-yield savings account in a year. Whereas with normal banks, your earnings would only be $46.

14. Check your insurance rates regularly

Insurance rates can change often, so it’s smart to look at your rates every six months or so. This way, you can make sure you’re still getting a good deal.

Many things can affect your insurance costs. Your age, where you live, and your driving record all play a role. Even changes in the insurance market can impact your rates.

You might find better deals if you shop around. Different companies can give you different prices for the same coverage.

So, don’t be afraid to get quotes from several insurers.

15. Have no spend days

If you want to save money fast, try having no-spend days. Pick a day when you don’t buy anything at all. This means no coffee runs, no online shopping, and no impulse buys. Of course, you still pay your bills and other needed expenses, but you limit other areas.

It might sound tough, but it’s a great way to cut back on spending. Start with one day a week. You can plan ahead by packing your lunch and avoiding stores.

No-spend days help you see where your money usually goes. You might be surprised by how much you save. Plus, it can make you think twice about what you really need to buy.

As you get used to it, try longer no-spend challenges. A whole week or even a month can lead to big savings. Some people will even do things like have a no-spend challenge on clothing for a year.

No-spend days are a fun way to test your willpower. You can make it a game or challenge friends to join you. See who can go the longest without spending any money.

Recommended reading: The Power Of A No Spend Challenge

16. Buy gift cards at a discount

You can save money by buying gift cards for less than their face value. Many websites sell discounted gift cards for popular stores and restaurants.

These sites will usually have gift cards priced 1% to 30% below their actual worth. The exact savings depend on the brand and demand for the card.

Before you buy, check if the discount is worth it. A 10% discount on a $20 card only saves you $2. Make sure the deal makes sense for you.

17. Use rewards credit cards

Rewards credit cards can help you save money on things you already buy. You can earn cash back, travel points, or other perks just by using your card for everyday purchases.

Look for cards that match your spending habits. Some give extra points for gas, groceries, or dining out.

When you sign up for a new card, you might get a big bonus. This could be lots of points or cash back if you spend a certain amount in the first few months.

Of course, please make sure you pay your full balance each month to avoid interest charges. This way, you actually save money with your rewards instead of losing it to fees.

So, use your card for regular bills and expenses. The more you use it, the more rewards you’ll earn. Just make sure you can pay it off each month.

If you’re looking for an easy way to get started with rewards credit cards or want to stay updated on the best deals, I highly recommend checking out Daily Drop. Their free email newsletter teaches over a million readers how to book nearly free trips, find cheap flights, and maximize miles and points. You can join their free newsletter here.

Additionally, their Top Overall Cards page, updated monthly, highlights the best credit cards based on rewards, annual fees, and perks. It’s a great resource whether you’re new to rewards credit cards or looking for expert advice to get the most out of your spending.

18. Earn free gift cards to put toward your purchases

Want to save money on your shopping? You can get free gift cards to use at your favorite stores. This is a great way to stretch your budget without spending extra cash.

There are many ways to earn gift cards online. You can take surveys, watch videos, or even play games. These activities are easy and can be done in your spare time, such as when watching TV on your couch.

Some of my favorite sites to earn free gift cards include:

Recommended reading: 16 Real Ways To Earn Free Gift Cards (Amazon, Target, Visa)

19. Borrow items you’ll only use once or twice

There are so many times in life where you buy something but only use it that one time.

But, why buy something you’ll barely use? You can save money by borrowing items you only need occasionally, such as tools, party supplies, or camping gear.

Ask your friends and neighbors if they have what you need. Many people are happy to lend things out.

Don’t forget about your local library. They usually have more than just books. Some libraries lend out tools, hiking gear, bakeware, and even musical instruments.

Borrowing saves you cash and storage space. You won’t need to find room for rarely used items. Plus, you’ll avoid the hassle of maintaining things you don’t need to use often.

If you can’t borrow, you may be able to rent the items too. For example, Home Depot rents out tools.

20. Try the cash envelope system

The cash envelope system can help you stick to your budget. It’s a simple way to control spending. You use cash instead of cards for different expenses.

Start by picking your spending categories. These could be things like food, gas, and fun money. Then decide how much you want to spend in each area.

Get some envelopes and label them with your categories. Put the right amount of cash in each one at the start of the month. When you shop, only use money from the right envelope.

This method makes it easy to see how much you have left to spend. You can’t overspend because when the cash is gone, it’s gone. It helps you think twice before buying things.

Recommended reading: 15 Best Amazon Hacks To Save Money

21. Pay off high-interest debt

You can save money by paying off your high-interest debt fast. This means focusing on debts with the highest interest rates first.

You can start by listing all your debts and putting them in order from highest to lowest interest rate. Pay the minimum on all debts, but put extra money toward the one with the highest rate.

When you pay off that debt, move to the next highest rate. This is called the debt avalanche method. It helps you save money on interest over time.

Another option is the debt snowball method. You pay off the smallest debt first, then move to the next smallest. This can give you quick wins to stay motivated.

22. Find a cheaper cell phone plan

You can save money by switching to a less expensive cell phone plan. Start by looking at your current usage and check how much data and other cell services you use each month.

Many people pay for more than they need. If you don’t use all your data, you might be able to switch to a lower-cost plan.

You can also think about joining a family plan. These usually cost less per person than individual plans.

If you’re happy with your current carrier, call them. Ask if they have any special deals or if they can lower your bill. Sometimes just asking can lead to savings.

23. Think for at least one week before making a big purchase

I like to do this for all of my big purchases to stop impulse buying.

Waiting before buying something expensive can save you money on impulse purchases that you don’t need. When you want to buy a big item, take a pause first and give yourself at least a week to think it over.

During this time, ask yourself if you really need it. You might realize you can live without it or you may find a cheaper option that works just as well.

Or, you may even just forget about the item completely.

If you do still want the item, you can use this waiting period to look for better deals. You can search for coupons or sales that could lower the price.

If you still want to buy it after a week, go ahead, but you’ll feel better knowing you made a smart choice. You’ll also have time to save up more money if needed.

Frequently Asked Questions

Below are answers to common questions about money-saving hacks that can help you save more money.

What is the trick to saving money?

The trick to saving money is spending less than you earn. So, track your expenses, make a budget, and look for ways to cut costs (like using cash back apps or buying generic brands).

How to save $1,000 fast?

To save $1,000 fast, you can sell items you don’t need (like clothing, electronics, jewelry, and more), do a no-spend challenge for a month, cut out expensive habits like eating out, pick up extra work or start a side job, and put any unexpected money (like tax refunds) into savings.

Are there any fun challenges I can try to help me save money?

Yes! Try these fun money-saving challenges:

1. No-spend month: Don’t buy anything nonessential for 30 days.
2. $5 savings challenge: Save every $5 bill you get and put it into a jar.
3. 52-week challenge: Save $20 a week and you’ll have $1,040 at the end!
4. Pantry challenge: Eat only what’s in your pantry for a week instead of buying new pantry food.

How can I cut down on my monthly bills without feeling deprived?

You can lower your bills without feeling like you’re missing out by using a library card instead of buying books or renting movies, cooking at home, finding free local events for entertainment (like free concerts), and negotiating better rates for services like cable and internet.

How can I save with very little money?

Even with a tight budget, you can save by starting small – save spare change or $1 a day, using automatic savings apps that round up purchases, looking for free or low-cost alternatives to your usual expenses, taking advantage of free trials and samples, and joining loyalty programs for stores you shop at a lot.

What are the best homemade hacks to save money?

Homemade hacks to save money include making your own cleaning products, growing herbs or veggies at home, cooking in bulk and freezing meals, repairing clothes instead of buying new ones, and making homemade gifts for special occasions.

What’s the saving money hack with envelopes?

The envelope system helps you budget and save:

1. Label envelopes for different spending categories
2. Put cash for each category in its envelope
3. Only spend what’s in the envelope for that category
4. When an envelope is empty, stop spending in that area
5. Put leftover cash into savings at the end of the month

Money Saving Hacks – Summary

I hope you enjoyed my list of the best money-saving hacks!

Saving money doesn’t have to feel like a chore. By using these simple and effective money-saving hacks, you can make smarter spending decisions and stretch your budget further.

Whether it’s earning cash back, buying secondhand, or cooking at home, small changes can add up to big savings over time.

What are your favorite ways to save money?