How to Save Money: 9 Simple Money-Saving Tips

So, you know you need to save money, but where do you start? Saving money doesn’t have to be complicated, and there are small things you can do that add up in a big way. Most of these money saving tips and tricks are fairly simple and easy to accomplish. It takes time to build a proper savings cushion, but you’d be surprised how quickly things can add up. Here are 9 of the best ways you can save money today: 

Write a list before you go shopping. 

Before you go into a store for any reason (yes, that includes Target) make a list of what you need to buy. Having a list allows you to stay focused on the task at hand, and it helps to avoid distraction. It’s also beneficial to research any sales or coupons that might be offered in advance of your shopping trip. Even if sales and discounts seem insignificant, remember that small savings add up over time. 

Find a better bank

Ideally, your bank should have no-fee checking, a wide ATM network, and good online banking services. If your bank regularly hits you with account maintenance fees or ATM fees, it’s time to research other banking options. Here are some great full service banks that offer these features and some great online-only banks that excel at online banking in particular.

Sign up for free customer rewards programs

If you’re already making a purchase at a store, see if they offer a free customer rewards program and sign up. They usually make it pretty simple to sign up on the spot. Create a new email address just for these rewards programs, that way your regular email isn’t overwhelmed with offers, then check that email before you head to the store. These programs will often result in discounts and rewards on things you’re already going to buy.

Pay off your rewards credit card in full each month

If you have a credit card, and you use it frequently, get into the habit of paying off your card in full each month. This ensures that you’re not hit with finance charges or interest each month. Once you’re in the habit of paying off your credit card each month, focus on using a rewards credit card that matches your spending habits, that way, the rewards are specific to your spending patterns and you’ll benefit even more. 

Negotiate rates with your credit card company

If you’re carrying a credit card balance, talk to your credit card issuer about lowering the interest rate. This one may take some sweet talking on the phone, but companies are usually willing to work with customers who take the time to ask. 

Transfer your credit card balance via a zero interest offer

If negotiating with your credit card company doesn’t work for you, look for a zero interest balance transfer offer. This will allow you to move your balance to a new card, and that balance will be interest free for 12 or 18 months. When you make payments on it, all of the money goes to reducing the balance instead of vanishing in the form of interest payments.

Clean out your closets

This money-saving (or really, money-making) tip can be a fun rainy-day activity for you and your family. Pull everything out of your closets and storage spaces. Decide together which items you actually use and want to keep, and put those back into storage (this is also a great opportunity to organize). Everything that’s left should be listed for sale. Facebook marketplace is a great place to list unwanted used items. Whatever money you make can be saved, or it can be used to pay down debts. 

Run your ceiling fans in the correct direction

I love this tip, and had no idea there was a correct way to run your ceiling fan. There are a number of great energy saving ceiling fan tricks, but this one is likely the best. There’s a little switch on your fan that sets the direction that the blades turn. In the winter, you want the blades to spin clockwise when you look up at them. In the summer, you want them spinning counterclockwise. This keeps warm air in the middle of the room in winter and cool air in the middle of the room in summer.

Buy appliances based on reliability

If you want to maximize your dollars, reliability, rather than aesthetics, should be the top factor that you consider when buying home appliances. Use Consumer Reports for reliability data, and stick to models and manufacturers with great reliability scores for the type of appliance you’re buying. When you buy an appliance that lasts 15 years instead of 10, you’re buying only two of them over the course of 30 years instead of three.

Above the Clouds can help

Do you need help building your savings? Or maybe you’d like to find some extra cash so you can stress a little less. There is a way to find extra money without adding any more work or income, which is where Above the Clouds LLC comes in. I take a deep dive into your finances and help you reclaim hidden money within your current income. I encourage you to celebrate the wins and allow yourself to enjoy the feel-good that comes with building a brighter future for yourself and your family.