57 Creative Savings Ideas You Can Start Now
Saving money sucks. We all wish we could just spend money frivolously on our favorite things without concern, but the reality is that many of us can’t and need a budget to make it work.
This article focuses on the most creative savings ideas that you can implement right now so you can start saving more money immediately.
So whether you want to start contributing extra money toward your savings account, investing into funds to build wealth, or just have some extra breathing room at the end of the month, you will find many creative ways to save money, some of which you may have not even thought of.
What Are Creative Savings Ideas You Can Start Now?
Here are 57 creative ways to start saving money now so you can reach your personal goals sooner than later.
1. Create a Budget and Stick To It
While not necessarily creative, this is one of the most basic ways of saving money for people on a tight budget. Regardless of your income or money goals, it would be best to always create a reasonable budget strategy for yourself and your family.
2. Cancel Subscriptions You Don’t Use
I did this recently with a streaming service. I realized that I had not logged into it in almost three months. I could have used that extra cash for more important things! If you rarely find yourself using streaming services and/or other subscriptions with monthly fees, consider ditching them. Even if just temporarily.
3. Switch To a Cheaper Phone Plan
If you aren’t using your current phone plan to its full extent, consider downgrading to a cheaper plan. Also, periodically checking with your current cell phone provider for new plans or promotions can lead to some surprise savings!
4. Cut Back On Eating Out
This goes without saying. Eating at restaurants always ends up being more expensive, especially on a regular basis. You should still treat yourself to your favorite local establishment from time to time, but consider how this can affect your budget and adjust accordingly.
5. Meal Plan and Cook at Home
Not only a healthier alternative but a cheaper one as well! Research your favorite recipes or watch a YouTube video to learn how to incorporate meal planning into your schedule. This will save you time and money, plus an extra few inches around the waist.
6. Make Your Own Coffee Instead Of Buying It
Buying coffee, especially in bulk, and making it at home is not only cheaper but way more convenient. I had a collection of Starbucks gift cards at one point and instead of buying individual coffees that would have lasted just a few days, I just bought one of their bags of coffee beans, had them grind it up (free of charge), and used it at home in my own coffee maker for the next couple of weeks. Boom!
7. Use Coupons When Shopping
Instead of just throwing away all of the free coupons that inundate your mailbox every day, consider checking to see if they include anything you buy regularly. You may be surprised how much money you could save on your grocery bill in just a short period of time without cutting back your purchasing frequency.
8. Buy Generic Products Instead Of Name Brands
Ever tried the generic cereal brands over the name brands? Can’t tell a difference (well, at least I can’t). Many generic or “in-house” brands contain the same ingredients as the popular name brands, so take a few extra minutes to see if you are really getting any benefit from buying the brand.
9. Shop at Discount Stores
Depending on your location, you’d be amazed at some of the deals you can find at larger bulk grocery stores. Places like Winco, Big Lots, and Food 4 Less (if in your area) are great places to find just about anything for your household at a decent price point.
10. Use Cash Instead Of Credit Cards
While there can be some benefits to using credit cards for certain purchases, cash is one of the most convenient and well-received ways of spending money. Plus if you pay cash you don’t have to worry about forgetting to make the credit card payment in the future and risk high-interest costs or late fees.
11. Cancel Unused Gym Memberships
I can’t count how many people I know that have a gym membership and never use it. With all of that money they wasted on the gym membership fee alone, they could have bought a complete home gym and workout from the convenience of their own home. Plus, you can save money on the extra gas cost of driving to the gym as well!
12. Buy In Bulk
I love bulk shopping. While it’s not as cheap as it used to be, you can still find many items at places like Costco and Sam’s Club that can help you save money in the long run. Especially if you have ample storage at home or are feeding a large family.
13. Use Public Transportation Instead Of Owning a Car
This may not work in many rural areas, but if you live in the city or the suburbs, taking public transportation is still a great cost-effective way to get around. Consider buying a monthly bus or light-rail train pass (depending on what you have in your area) and save even more cash!
14. Use a Programmable Thermostat To Save On Energy Bills
Technology just keeps making things easier and cheaper, so why not use it? Many thermostats these days have menus built in where you can program specific times and temperatures you want your heating and cooling system to shut on or off. Also, consider shutting off your heat and air altogether if you will be out of town for a few days.
15. Turn Off Lights and Unplug Electronics When Not In Use
As mentioned previously with your thermostat, consider turning off any lights and electronic devices when not in use. Even when turned off products that are plugged in can still draw energy, so you could be leaking extra money without even realizing it!
16. Switch To LED Light Bulbs
I personally hated LED lights when they first came out, but after much improvement over the last several years, I can’t see the point in not using them. Not only do LED lights run cooler and use less energy, but the cost savings alone are enough to consider the switch from traditional incandescent bulbs.
17. Shop at Thrift Stores
You can find some pretty cool things shopping at a thrift store. Anything from clothes to household items, the opportunities are endless when you take the time to browse the shelves. Not only can you save a ton of money on various types of products, but many of these items can be older and built better than most of today’s mass-produced plastic garbage.
18. Sell Items You No Longer Need
Put your emotions and nostalgia aside and ask yourself “do I really need this anymore?”. In most cases, the answer will be no. What’s even more disturbing is wasting extra money for storage on items you may never use again. That’s a double whammy! Not only can you save money from the extra storage costs, but you can MAKE money from selling these unused items.
19. Use Free Online Resources Instead of Paid Services
I have just one word for this….YouTube (or is that two words?) Anyway, finding information, how-to’s and personal advice videos have become incredibly popular these days. Anything from personal finances to personal health can be found in droves through these media platforms. Consider taking a few moments to search a specific service you may be looking for and you might be surprised at what you can find!
20. Take Advantage of Free Community Events
Most locations will have community centers, libraries, and schools that offer free seminars or workshops. Whether it’s learning a new skill or just networking with other local like-minded people around a shared hobby, this can be a good way to engage with the community and expand your knowledge all free of charge!
21. Rent Out Your Unused Space On Airbnb
Have extra space that may be of use to someone? Whether it be an extra room, in-law space, or a detached garage on your property, there are many folks looking to rent a place to stay temporarily or store additional cars, boats, and other recreational or personal items. Why not make some extra cash from that unused space?
22. Use a Cash-Back Credit Card
If used responsibly, taking advantage of the cash-back points on credit cards is an excellent way to save money on future purchases. I recently used almost $60 I had accumulated from the previous year on one of my cards to significantly reduce my shopping bill for some well-needed groceries.
23. Use a Budgeting App To Track Your Spending
Apps like Mint and Goodbudget have been able to make tracking your spending habits way easier than trying to do it the old-fashioned way. Also, with how much we rely on and use our smartphones it just makes sense to have an intuitive program at our fingertips to help us set financial goals and track our progress.
24. Plan a Staycation Instead Of a Vacation
It’s incredible how many people who have lived in an area for many years know little about their local recreational spots. Instead of spending astronomical amounts of money on resorts and flights, why not explore areas closer to home that you have never been to? Not only does it save loads of money, but you might discover a new favorite place that you can make a regular vacation destination in the future.
25. Use Free Online Education Resources Instead Of Paying For Classes
Again, YouTube is great for this. I personally love tutorial videos on how to do something myself to save money. I have also found uploads of many educational audiobooks that can teach you a new skill or help with personal development in various areas of your life.
26. Buy Refurbished Electronics Instead Of New Ones
This can be more beneficial than most people realize. Most refurbished products go through a thorough screening process so it’s like getting the product in new condition anyway. Plus, manufacturers will offer some incredible warranties for their refurbished products that are just as good if not better than their brand-new ones.
27. Use a Clothesline Instead Of a Dryer
This might not be as effective if you live in an area where it rains 359 days out of the year (I’m looking at you Washington and Oregon), but if you live in a drier climate, you could benefit greatly from just letting your clothes dry outdoors. Between a nice breeze and a little sunlight, your clothes can dry just as fast as a household dryer without the extra energy cost.
28. Grow Your Own Fruits and Vegetables
If you have the extra space, growing your own garden vegetables is not only more convenient but healthier too. Knowing your food isn’t being sprayed with harsh pesticides and other chemicals will add greater peace of mind for the health-conscious. Also, making the short walk to your backyard or micro garden to get your veggies will save on gas costs to the grocery store!
29. Use a Library Instead of Buying Books
I used the local library consistently when starting to educate myself on money management. Library cards are free and having the convenience of checking out books and renewing them online is really a no-brainer. Plus, paying upwards of sometimes 30 bucks for a book that you may only read once or twice can get ridiculous after a while.
30. Use a Water Filter Instead of Buying Bottled Water
I personally do this and wouldn’t go back to buying individual bottles of water again under most circumstances. With the easy availability of filters along with their long life, it’s much easier and more economical to filter the water directly from your tap.
31. Buy Used Instead Of New Items
While it may not be in shiny new packaging, buying used products can actually turn out to be a better deal in the long run. If you are buying older products or appliances, chances are the build quality will be better than most new products. Plus, some of these items are easier to do your own repairs on if need be as they are less computerized.
32. Use a Slow Cooker To Save On Meal Preparation, Time, and Energy Bills
Who’s never heard of a Crock Pot? These incredibly popular slow cookers along with deep fryers and Instant Pots have made preparing healthy meals at home easier and cheaper than ever. Start your slow cooker before you head out the door for work and by the time you get home, your meal is done and waiting for you.
33. Make Your Own Cleaning Products Instead Of Buying Them
From all-purpose cleaning sprays to laundry detergent, making your own household cleaning products can be incredibly cost-effective since you may already have most of the ingredients in your home. Things like baking soda, vinegar, and rubbing alcohol are just a few popular products used to make countless types of DIY cleaning agents.
34. Participate In Clothing Swaps With Friends
This is especially convenient and cost-effective for people who have kids. The sheer amount of clothes you have to continually buy to keep up with their growth rate can lead to excessive spending. If you have friends with kids who are older or younger than yours, consider swapping gently used clothing so you can all save money.
35. Use Energy-Efficient Appliances
Most if not all new appliances these days have some sort of energy efficiency built into them. If these appliances have a “green” option in their settings, consider using them instead to give yourself a little wiggle room on your energy bill.
36. Turn Off the Water While Brushing Your Teeth
This can be beneficial in two ways. First, you won’t have the water running for no reason while you’re brushing your fangs. Second, since the water is turned off it could subconsciously train you to brush longer over time saving your money and your teeth!
37. Purchase Items Out Of Season
When a holiday ends, stores want to get rid of the extra inventory as soon as possible. Take advantage of these deep discounts and have the items for the following year so you don’t have to spend full price during the peak season. Also, this can be a great opportunity to get a head start on gifts for future holidays without spending an arm and a leg.
38. Use a Reusable Water Bottle Instead Of Buying Disposable Ones
You can get these anywhere. Not only do they save you from constantly buying disposable water bottles, but many reusable ones are also insulated, built to last a long time, and are a convenient travel companion for your favorite beverages.
39. Make Your Own Gifts Instead Of Buying Them
If you are crafty, not only is making your own gifts for loved ones cheaper, it can really add a unique and personal touch for the receiver. Also, this can be a great idea for someone who wants a really hard-to-find item that you may be able to create for them.
40. Purchase Items During Sales and Clearances
This is really everyone’s goal. Watch for local sales and clearances at your favorite stores to score the best deals not only for yourself but also as future gift ideas for friends and family members.
41. Use a Rewards Program To Save Money On Purchases
Many stores offer rewards programs to take advantage of special offers and discounts. Plus, you can find free money-saving apps that can search out these rewards for you to simplify the process.
42. Use a Bike Instead Of Driving
This is ideal for people in cities and suburbs, but riding a bike instead of driving will not only save you a ton of gas expenses but will help you get a healthy workout in as you head to your destination.
43. Use Free Entertainment Options Such As Parks and Hiking Trails
I love this one as I’ve tried this locally where I live. You’d be surprised at how many parks and hiking trails are hidden around towns and cities in plain sight. I found a hiking trail behind a strip mall near my house and after a few steps in you wouldn’t even know you were still in the city. Not only is this free, but it’s also a great way to potentially meet new people.
44. Use a Prepaid Cell Phone Plan Instead Of a Contract Plan
If you are a light phone user, then prepaid cell phone plans can be an ideal money saver. Let’s face it, phone plans aren’t cheap, and if you can afford to not keep your phone in your face all day then you should definitely check out your prepaid options. Most major carriers offer these, so if you’re happy with your service then check out if they have a prepaid option instead.
45. Shop at Farmer’s Markets For Fresh and Affordable Produce
Not only does this idea help the local growers in your area, the produce ends up being more fresh and less expensive than in grocery stores where many fruits and vegetables can easily get overlooked. Plus there is a better chance that you won’t be dealing with any products containing harsh pesticides.
46. Use a Grocery Delivery Service To Avoid Impulse Buying
Grocery stores know just how to mess with customers. Notice how they put many junk food items right by the register? This can lead to impulse buying at the last minute and cause you to spend unnecessary money on items you didn’t need anyway. Grocery shopping online will keep you from going off of your specific list and making impulse purchases so you can stick to your food shopping budget.
47. Use a Travel Rewards Credit Card To Save Money On Flights and Hotels
If you are a frequent traveler, you know that it can get expensive. Flight and hotel costs have only gone up over time, so using travel rewards can help ease some of the financial burdens of regular travel. Be careful to not use your credit cards irresponsibly or it could completely cancel out all of the benefits through extra late fees and paying interest charges.
48. Take Advantage Of Free Trial Periods For Services
I’ve done this with Audible, Netflix, and stock photo websites just to name a few. While some online services will only let you take advantage of a free trial one time, there are some that will let you do more free trials after enough time has passed. Look out for offers in your email, especially if you have taken advantage of a specific offer before.
49. Negotiate Bills With Service Providers
While there are specific bill negotiation services out there, you may be able to do this yourself with a little bit of practice. You’d be surprised at how much you can negotiate with service providers and cut costs just by just speaking to them in a friendly and calm tone. I’ve been able to pause car payments without penalty and received refunds from periods of subpar service. Many companies are willing to work with their customers, so don’t rule out a little negotiating to help your bottom line.
50. Purchase Items In Bulk With Friends and Family To Split the Cost
Similar to how you would split bills between roommates, splitting the cost of bulk items or monthly services can really take the weight off of everyone in your family. You all not only get the benefit of enjoying the items but dividing it between several people can make sure everyone stays afloat without sacrifice.
51. Use a Fan Instead Of Air Conditioning
This can be hard to do in certain climates, but you would be surprised at how much of a difference just drinking some extra water and enjoying the steady breeze from a fan can make. Also, it can acclimate your body to heat tolerance over time so that you don’t notice the heat as much. A bonus is if you have a basement or cellar to escape to. We didn’t have air conditioning growing up but we had a basement that I would hang out in during summer days to keep cool.
52. Use a Budgeting Spreadsheet or Budgeting Planner To Track Expenses
Spreadsheets and budgeting planners have been around for decades and are one of the best ways to keep track of your expenses. Not only that but there are a ton of software programs that make it extremely easy to know how much of your income is going to specific monthly expenses. If you want to bypass the tech side of keeping track of expenses and want to go the pen-and-paper route, you can purchase a budgeting planner to help keep you on track. Knowing what expenses are going in and coming out makes your monthly budget plan much easier to maintain.
53. Make Your Own Dog Food Instead Of Buying It
My parents did this with one of their dogs. They didn’t originally do it to save money however, they did it to keep track of the ingredients to improve their dog’s dry skin condition. They soon realized that they were able to use many ingredients that they already had in the kitchen and not only saved money but improved their dog’s health in the process.
54. Use a Clothes Steamer Instead Of Dry Cleaning
Many people use a clothes steamer in place of a traditional iron. That is because they are cost-effective, ergonomically easier to use than an iron, and can do a better job in a lot of cases. They are also more versatile in that they can be used not only on just clothes, but on drapes upholstery, and even carpeting.
55. Switch To a Cheaper Internet Provider
Depending on your location, you may have various choices when it comes to internet service providers. Shop around and you may find that you can get a much better deal and service other than what your current provider may offer. Many cell phone providers like Verizon and AT&T offer home internet packages also, so check with them and get everything consolidated into one monthly bill to simplify things.
56. Plan Meals Around Sales and Discounts
We’ve all heard of happy hour and early bird specials. Planning your meal times when eating out can lead to some serious savings when you plan ahead. Many buffets and restaurants will also have discounts during certain times of the day where you can get all-you-can-eat meals that can save you quite a bit of cheddar.
57. Use a DIY Car Wash Instead Of Paying For One
Instead of paying 20 bucks or more for an automatic car wash, why not cut that amount by 60-70% and use a DIY car wash instead? While not as fun, it’s a good way to get some exercise, save some money, and make sure every part of your car is cleaned to your satisfaction. You can also just wash your car at home provided you have an appropriate area to do so.
Conclusion
Remember, every little bit helps, and by implementing even a few of these ideas, you can make a big impact on your personal finances and reach your savings goals. Whether you’re looking to save for a specific goal or just want to build up your financial emergency fund for unexpected expenses, these tips are a great place to start. So, start making some changes today, and see how these creative savings ideas can help you build a secure savings strategy and create a more financially stable future!
