How to Save Money in 5 Easy Steps

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How to Save Money in 5 Easy Steps

Whether you are trying to save for an emergency, pay off debt, or just getting your budget under control, saving money and cutting expenses should be the first step. There are lots of ways to save money and here are 5 ways to save money today.

No Spend Challenge

One way to save money is to do a “no spend challenge”. This would consist of using up everything you already have and not buying anything, including groceries. This will take some planning obviously but the goal is to clear out the pantry and freezer and use up all that you already have. There may be a few things that you may forget and need to grab at the store but it shouldn’t be much.

Make a List & Meal Plan

One way to save on groceries is to make a meal plan and a list. A list is good when going to the store for anything really but it is essential when going to the grocery store. I was able to save $600 a month by meal planning and making lists. I only buy what is on the list and use a calculator while I shop. This has helped me cut my budget in half. My budget includes household supplies and dog food and I am still under budget most months.

save on groceries

Buy Used

Buying used is a great way to save money on cars, clothes, toys, furniture, and numerous other things. Most people buy things and don’t use it or don’t use it very long and you can get a great deal if you take the time to look. We were able to save hundreds and technically thousands buying a used playhouse bunk bed on Craigslist. I found one for sale on Facebook Marketplace then looked on Craigslist and found the exact one $400 cheaper. We saved over $2500 buying it on Craigslist compared to buying it new.

Use Cash

Studies have shown that when people use credit cards they spend on average 12%-18% more than using cash. Cash is harder to give up than swiping a card. Not to mention that you save money by not paying interest if you carry a balance on your credit card.

credit cards

Avoid Temptation

Another way to save money to avoid the temptation of spending money. A couple of ways to do this is to unsubscribe from emails, avoid going to stores, and avoiding impulse buying. It’s a lot easier to not be tempted if you aren’t getting the “save 50%” emails and coupon codes several times a day.

There are numerous other ways to save  money, what are some ways that you save money?

Let me know on Facebook, Twitter, or in the comments!

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34 comments on “How to Save Money in 5 Easy Steps

  1. Great tips!! I also believe in buying used, and try to do it as much as possible. And love your “No Spend” challenge!! I’ve been trying to do that, especially with toiletries…it’s crazy how much you can accumulate!

  2. We use Dave Ramsey principles and went a step farther trying to buy as much reusable as possible. So no paper in the kitchen, garden, canning (we buy less plastic that way and it’s cheap!), make lotions and soap.

    I did a no spend January with a Facebook group and it was super helpful to have the sounding board!

  3. These are awesome starter tips! Thanks!! I’m a Non Consumer (as much as possible with a family of 5) and I find the best way to save money is to avoid spending lol sounds simple but it’s harder than you’d think! The best way I can avoid spending is by not taking my kids with me when I go grocery or other shopping (the candy at the checkout line and the quarter machines gets us every time!!) THANKS for this great list!!

  4. Great tips! Making a list and meal planning is one that I need to work on. It’s so hard not to get sucked into everything at the grocery store. Esp. trader joes and sprouts!

  5. Some of my friends have been complaining that they’re spending all their money and can’t save for the life of them…I may have to institute a no spend challenge! That’s a great idea!

  6. Great list!! I save money by doing as you advised plus: making my own cleaning products, cooking, growing some of my own food and swapping with neighbors that grow as well. And I junk for practically everything, lol. I’ve decorated my house by junkin.

  7. Great tips! We have grown to love Craigslist over the years, and have scored some amazing furniture for super cheap. Unsubscribing from emails is something I definitely need to do.

  8. Totally agree with all of these! Admittedly, this has been the first full year I’ve been actively saving and these are so on point! Especially with meal planning–I had no idea how much we spent going into the store blindly, and we saved a ton when we stopped going out to eat/ordering in!

  9. My husband and I switched to a cash envelope system and it has definitely helped us with overspending! We also finally set down and made a firm budget. I use meal planning to make sure I stay within my grocery budget and it helps a lot!

  10. We have cut our grocery budget considerably since keeping an inventory of the food we have and being creative in our meals. Rather than sticking strictly to a recipe’s ingredients list, I substitute similar items with what I have on hand. Keeping track of what we use (and what is still sitting on our food storage shelf months after that great sale) has helped me save more and spend more wisely. Great tips! Thanks!

  11. Thanks for the tips, love! The cash / credit card thing is SO true, haha! It’s definitely a mentality thing w/ the fact that you don’t physically see the stack of money when you use credit cards.

    xx, Kayla // thesummerlover.com

  12. Great advice! I always make a meal list before I go shopping makes it so much easy.
    Hadnt thought of just taking cash but makes so much sense. Thanks

  13. Thanks for this post! Great reminders, especially using cash. I need to do this more often!! That tangible money definitely makes me think a little more before I spend!

  14. No spend challenge is hard lol, but that’s what I’m doing when it comes to clothes and shoes right now. I also need to start using cash more.

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