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23 Money Saving Tips To Keep Your Dollars In Your Wallet

July 10, 2020

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You work hard for your money, but spending comes all too easy. 

We’ve put together this list of money saving tips to help you keep more of your cash where it belongs—with you. Pick the tips that work best for you and watch the savings add up. 

1. Be intentional

Establish a budget for yourself to keep an eye on how you spend. You can do this the old-fashioned way or with a budgeting app.

With a budget, you know exactly how much you’re making and where you’re spending, so you can keep yourself accountable.

2. Pay with cash

It’s tougher to let go of a crisp twenty than to swipe your plastic. Pay with cash as often as possible to keep unnecessary spending at bay. 

3. Switch to a higher yield savings account

You worked hard to earn your money. Make it work for you, too.

If you’re using a standard savings account, try a high-yield savings account. They generally have higher interest rates than standard savings accounts, so your money can grow faster without any extra work on your part. 

4. Buy in person

Online shopping is easy—too easy—which means it’s easier to spend, too.

Just like paying with cash hurts more than paying with credit, shopping in person hurts more than shopping online. 

5. Bundle your insurance policies

Insurers reward you when you buy more than one insurance policy with them. 

Bundle your auto insurance with home or renters insurance from the same provider. Most companies will give you a discount. 

6. Plan big purchases

If you know you need a high-price item, wait for sales. 

Memorial Day, Labor Day, or Black Friday are great times to save big on an item you’ve been eyeing. 

7. Look for water leaks

If you pay your own water bill, make sure you’re not pouring money down the drain, literally. 

Turn off all water in your house. Then, find your water meter. Look at the gauge on it. 

Don’t use any water for a couple of hours (that includes flushing the toilet). Check your water meter again. 

If the gauge has moved at all, you probably have a leak. Fix it (or call a professional). Your wallet will thank you.

8. Look for air leaks

A drafty house can lead to energy waste. 

Check for air leaks and caulk anywhere you find them. This makes your heater more efficient in winter and AC more efficient in summer. 

9. DIY

Gifts are an easy way to spend a lot of money. To avoid the temptation to overspend, plan gift-giving in advance and DIY whenever possible. 

A thoughtful, handmade gift can be just as special as something store bought, and you’ll save on cash. 

10. Review your subscriptions

Make a list of all of your weekly, monthly, and annual subscriptions. 

Write the amount you pay annually next to each subscription, then go through the list. 

Axe all the ones you aren’t using.

11. Split meals out

Dining out is a luxury—and you’re always the one paying. 

To lower the cost of dinners out, split meals with your friends and get creative.

If you’re clever with your combinations of apps and sides, you can get out for less than the cost of an entree.

12. Pay off your credit cards as soon as you can

Every time you leave a balance on your card, you commit to giving your credit card company money each month in interest. 

Make a plan to pay off your credit cards in full.

Moving forward, pay them fully each month to avoid that pesky interest.

13. Learn to love your local library

The average American spends thousands of dollars on entertainment each year, but it doesn’t have to be this way. 

Besides books, your local library probably also has movies, CDs, comics, and community events.

14. Set your bills to auto-pay

There’s no reason to pay late fees. Save yourself the headache and hassle of missing a bill by putting all of your recurring bills on auto-pay. 

15. Celebrate spend-free days and weeks

Set a spend-free day. It’ll be a challenge but it gets easier with practice. Do this on a regular basis and watch yourself rack up savings.

If you want to take this to the next level, try a spend-free week. 

16. Plan your meals

Make a meal plan and follow it when you grocery shop. Shopping with a guide helps you avoid throwing food in the trash because it’s gone bad. 

17. Pack a lunch

Take a few minutes in the morning to prepare a bagged lunch for yourself. 

Eating out is pricey. It’s better to save it for occasions when you’ll actually have time to enjoy it, not crammed in the middle of a workday. 

18. Choose generic brands

Pick generic to save money. Often, the product quality is the same, and you’re paying for branding. 

19. Keep your cool

In the summer, keep your AC bill as low as possible by drawing your shades in the day. 

Also, remember that fans cool people, not rooms. Turn them off when you leave a space to avoid unnecessary energy usage. 

20. Download coupon apps

You don’t have to clip paper coupons to save. Plenty of stores offer apps so you can conveniently scan coupons at checkout. 

21. Look for rewards cards

See where you shop most frequently and ask if they offer reward or loyalty cards. It’s a great way to save a few bucks over time.

22. Cut the cord

Cable TV costs a pretty penny. Streaming services offer many of the same shows for a fraction of the cost. 

23. Plan vacations in advance

Don’t wait until the last minute to book flights and hotels. Book your hotel in advance but choose a pay when you arrive option. Then, regularly check for better prices as your trip approaches.

For airfare, try to book seven weeks in advance to score the lowest rates. 

Use these tips to keep your money in your pocket. Your fattest savings account is waiting. 

Opinions, advice, services, or other information or content expressed or contributed here by customers, users, or others, are those of the respective author(s) or contributor(s) and do not necessarily state or reflect those of The Bancorp Bank (“Bank”). Bank is not responsible for the accuracy of any content provided by author(s) or contributor(s).
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Kacie Goff

Kacie Goff

Kacie Goff has over five years of experience writing personal finance content for a wide range of audiences. She's always loved taking complex concepts and distilling them down so they're more accessible to others. As she creates content, she aims to educate and engage, helping people discover that successfully managing their money can be easier than they ever imagined. Over the last five years, she’s also covered personal and commercial insurance, home design, health and wellness, and more for publications including Bankrate, Freshome, The Simple Dollar, and websites of a broad variety of businesses. Her brand is Jot Content (

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