10 Smart Ways to Save Money In 2024. The best way to save money is whatever way will work for you. The easier it is for you to commit to saving, the more regularly you’ll do it and the faster you will be able to reach your goals.
1. Shop at Discount and Bulk Stores
Discount grocery stores and bulk stores like often have lower prices than traditional grocery stores. While these stores may have more limited selections, this can help you save time and money, when doing your groceries.
2. Meal Prep
Not only does meal prepping save you time during the week, but it also helps you avoid the temptation of eating out or ordering in, both of which eat into your bank account more than you might like. Plus, prepping your own meals makes it easier to meet your nutritional goals.
3. Stick to a List
Prepare a list before you hit the store and try not to stray from it so you can stay under budget. Try doing pick-up orders so you can see your total before you check out and delete any unnecessary items from your cart. Keep an eye on sales and plan your meals around what’s in season to score discounted prices.
4. Look for Coupons and Promo Codes
Stationery, decor and accessories may go on sale at different times of the year. Before you make a purchase, do a quick search online to see if there are any discounts available and try to purchase things several months in advance to give yourself more time to bargain hunt.
5. Temporarily Cut Down on Rent
If you’re renting, consider moving to a smaller apartment or sharing a living space with a friend or family member to reduce your rent and free up more money for a while. You may also be able to negotiate with your landlord to lower your rent.
6. Save on Transportation
Transportation costs can add up quickly. Consider carpooling, taking public transportation or biking to work to spend less on gas and ride-sharing services.
7. Use Energy-Efficient Light Bulbs
LED bulbs use around 70% less energy than traditional bulbs, and they can last up to 25 times as long too. This means you save money on your electric bill and on replacement bulbs by switching to LED. Dimmer switches also work well with LED bulbs to stretch your energy.
8. Have a “No Spend” Weekend
Challenge yourself to not spend any money for an entire weekend. Instead, find free activities to do and cook for yourself. Many people spend the bulk of their extra cash on the weekends, so even one or two spending breaks can make a difference in your house savings fund.
9. Cancel Subscriptions
Cancel any services you have but don’t need including streaming, gym memberships and food delivery services. Take that extra money and move it to your savings account each month. Try an app like Rocket Money to organize your subscriptions and see which ones you might be able to cut.
10. Round Up Your Spending
Saving in the background, or without thinking about it, is a smart solution for anyone who has trouble remembering to save. Many money-saving apps offer round-up transfer options to automatically send a portion of every checking account transaction to your savings account.