Saving Money 101: 20 Best Money Saving Tips

Could you use more money in your bank account? Of course, you could. Who wouldn’t like to have a little extra money for a rainy day or to pay off debt?
If you’re ready to take control of your spending and committed to saving money, we’ve created a list of the 20 best money saving tips. This list if perfect for beginners, but anyone who is interested in saving money can take advantage of these top money-saving tips. ​

1. Go Cheap on Child Entertainment

We all want the best for our children, but that doesn’t mean we should go broke entertaining them. Young children can easily be entertained by simple things like cardboard boxes or newspaper. Doesn’t building a cardboard box fort or newspaper hats and swords sound like fun?

2. Buy Complex Games

Are you a gamer? Instead of buying new games every week, try investing in complex games that can be played multiple times. Quest and puzzle games make excellent choices and can be enjoyed many times, thus saving you money.

3. Embrace Casseroles

Casseroles are a quick dinner-time staple for many families, but who knew that they can also save you a little money. The key is to prepare two or three casseroles at once. Throw the extra casseroles in the freezer for a quick dinner in the future.
Having these back-up casseroles in the freezer will prevent you from eating out and will save you money on your grocery bill.

4. Buy Used

Whether it’s a car, household appliance, or jeans, buying items used is a way to save some considerable money.

5. Shop Store or Generic Brands

Have you ever compared the ingredients between name brand and generic products? There usually isn’t much of a difference. So, why pay more for the same thing? Choosing the generic brand of many items, especially prescription medications can add up to huge savings.

6. Rent out a Room

Do you have a spare room or garage apartment in your home? Well, don’t let that space go to waste. Clear out the clutter and put the room up for rent.

7. Be Handy

Are you good with your hands? If so, you can save money by putting those hands to good use. Instead of hiring a handyman to for minor household repairs, do it yourself. You can also earn some extra cash by completing odd jobs for your friends and neighbors.

8. Search for Free Events

From free adult sports leagues to outdoor concerts and sporting events, you may be surprised at the number of free events in your community. Check out your community newspaper for a list of free events and activities in your area.

9. Be Your Own Barber or Stylist

If you’re uncomfortable with cutting your own hair, we understand. However, if you have what it takes cutting or styling your own hair is another excellent way to save a few bucks.

10. Consolidate Debt

Are you plagued with student loans? You may want to consider consolidating your student loans. You can usually take advantage of lower interest rates by consolidating all your loans into a package that offers a lower rate.

11. Don’t be Afraid to be Cheap

When you make the decision to save money, others around you may start to view you as a cheapskate. Don’t let this discourage you. There is nothing wrong with being frugal or monitoring your expenses. Stay persistent and keep your end goals in mind.

12. Downsize

Do you drive a large SUV? How big is your home? Think carefully about the size of your home or vehicle. Can you downsize and still meet your needs? A smaller home or more fuel-efficient vehicle is certainly better for your wallet.

13. Invest in a Surge Protector

To prevent damage to any of your electronics, you should invest in a reliable surge protector. This will prevent any damage that may occur from a power surge.

14. Mix & Match Your Wardrobe

Everyone likes to look nice and presentable, but you don’t have to spend a lot on your wardrobe. Invest in a few key pieces such as a pair of neutral colored slacks and dress shirts or blouses. Buying clothes in neutral colors allows you to mix and match your outfits.

15. Stay Positive

It can seem like you’re missing out on all the fun or not living life to the fullest by saving money and being careful with your spending. Try your best to remain positive. Keeping a positive mindset will help you stay on track with your goals.

16. Volunteer

Volunteering is not only a way to give back to the community, it’s also a great way to make new friends and be social. Best of all, volunteering is free. Certain volunteer programs will also help you pay back student loans.

17. Embrace Leftovers

Leftovers don’t have to be boring. With a little creativity and inspiration, you can spice up your leftovers into new, delicious meals. Leftover chicken can be turned into a chicken salad or even tacos.

18. Avoid Spending Triggers

Certain places can trigger spending, such as the mall or outlet shopping centers. Avoid these and other places where you know you’ll spend money unnecessarily.

19. Get a Deep Freezer

It’s been proven that buying in bulk helps to save money in the long run. A deep freezer allows you to stock up on meat and gives you space to store pre-prepped meals.

20. Stay Motivated

It is easy to get discouraged when trying to take control of your spending. Do your best to stay motivated, despite slip-ups and failures. Creating a list or a visual representation of your goals is a way to stay motivated and on track. ​