The holidays are approaching very quickly and with that comes a lot of stress caused by money issues for so many people. Just recently, I took a look at my own finances to see if there were any areas where I could save a little cash each month. It was such a good exercise that I decided to expand my view and look at ideas that would fit a wider range of people. Some of the following ideas will save a substantial amount of money while others only save a few dollars here and there. Keep in mind as you read through that these small savings add up very quickly and before long you’re saving a decent amount of money!
This is not an exhaustive list so if you have ways that you save money each month, please share them with your fellow readers in the comments section. This is one area where we can definitely help each other!
General Purchases
- Tax Benefit of Ordering Online. If you’re gearing up for a substantial purchase, such as a new laptop, take a look at ordering the item online instead of walking into a local store. If you were to purchase the new Macbook Pro laptop from Apple (without an educational discount) you would spend $1,999 plus an additional $119 on sales tax at 6%. Ordering through Amazon would get you the same laptop $4 cheaper and you would save the $119 tax. Don’t worry about shipping either–Amazon picks up the tab.
Savings: Around $60 per $1,000 spent - Search For Promo Codes and Coupons. A quick Google Search for Promo Codes will give you a treasure chest of results! Make your search even more effective by putting the name of the website in as well.
Savings: Varies - Sign Up For Coupons Via Email. So many of the local stores you frequent will have a place on their website for you to sign up to receive coupons via email. Papa Johns and Borders are just two examples. Borders will send you a 20% off coupon quite often which is very useful this holiday season.
Savings: Varies - Buy In Bulk Where Possible. If you have children, this suggestion can be a huge saver. Items such as snacks, paper towels, sodas, trash bags and detergent can all be found in larger sizes at big box retailers. Consider joining Costco but take into account the cost of the membership. If the membership cost is prohibitive, look for bulk items in your grocery store or Wal Mart.
Savings: Varies - Consider Open Source Software. It is very easy to log on to your website of choice and order Microsoft Officeor Quicken but it is just as easy to download a free alternative. OpenOffice is a fantastic alternative to Microsoft Office and will save you hundreds of dollars in the long-term.
Savings: Varies - Buy Store Brands For Common Items You’re throwing money away if you’re buying name-brand aluminum foil, Ibuprofen or paper towels! Switch to a store brand and save!
Savings: About $5.00 per grocery store visit or $20 a month
Entertainment
- Cut Back On The Movie Theater Experience. Going to the movie theater to catch the latest releases just isn’t worth it. Consider renting a DVD instead. When considering concessions and ticket prices, renting a DVD from Blockbuster and making your own popcorn will save a couple around $20 for the evening.
Savings: $20 per movie - Rent DVD’s From Netflix. Take the above idea one step further and rent your DVD’s from Netflix instead ofvisiting your local movie shop. Netflix doesn’t have the high overhead that those retail stores carry and the savings is passed on to you.
Savings: Roughly $3 per movie - Invite Friends Over Instead of Going To The Bar. Going to the bar can be a very expensive evening! Oftentimes, the cost of a few mix drinks out on the town would buy you a bottle of liquor to have at home. Instead of venturing out, consider inviting friends over for a cheap poker night. The savings on your drinks will surely provide you with the $10 buy-in!
Savings: Varies on your lushness - Drink Some Beers Instead of Cocktails. I know James Bond wouldn’t be the same if he didn’t order that trademarkMartini but does it matter as much to you? Beer is usually had for $2 at a bar while a mix drink costs around $4. If you buy beer, you can drink double-fisted all night for the same cost!
Savings: $2 per drink - Visit Your Local Library Reference books are great to own but how many novels do you read for a second time?Do you really need to own that book? Instead of buying your books, take a look at your local library. Most libraries get the new releases the same time as your local book store.
Savings: Varies
Home - Utilities and Other Bills
- Cut The Home Phone Line. Old-fashioned land line telephones are being tossed aside by so many households these days for good reason. Avoid the taxes and fees by going through Vonage. You get the same quality service and also save on long distance!
Savings: Varies by location but around $15 per month - Are You Watching Your Premium Channels? I carried HBO at my home for the longest time because I wanted to watch The Sopranos. That $13 per month is now back in my pocket since the show is off the air. If you aren’t watching your premium channels, call the cable company and cancel. You can always add them again when the show you like comes back on the air.
Savings: Around $10 per month - Look At DSL and Cable Internet Pricing. Cable Internet costs around $55 per month in my town. DSL’s normal rate (after the introductory $19/month offer) is $30 per month. I personally think the extra speed is worth the $25 premium but consider the switch if you’re just checking your email and browsing the web.
Savings: Varies by provider - Are You Using Your Cell Phone Plan? So many of us purchased our cell phone plan based on what wethought we would need. Now that you have a history of bills to look over, try and determine whether you really need the plan you’re on. Most of the time, cell phone plans go up in $10 increments so see if it might be time to drop down to the plan below.
Savings: $10 - Consolidate Your Cell Phone Accounts. If you are married and both spouses have their own cell phone accounts, stop throwing money away! You can definitely save by combining your two accounts into one “family share” plan.
Savings: Varies by company - Group Errands Together And Save On Gas. Do you go to the grocery store on one day, Home Depot the next, WalMart one other day and so on? Group all three of those trips into one. Cutting out that back-and-forth mileage should save you a little bit of cash every month at the pump and will even help the environment!
Savings: Varies on mileage - Stop Wasting Electricity! When you’re sound asleep in your bed, why is your computer on? Some people need to leave their PC’s on at night if they’re running a server or downloading large quantities of data. However, if you’re like most people, your computer should be turned off when you go to sleep. If nothing else, set your computer’s power options so that it goes to sleep when you do.
Savings: Varies
Home - Banking and Fees
- Use Your Savings To Pay Off Credit Card Debt. If you have a credit card that isn’t on a 0% interest introductory period and you’re carrying a balance, you’re throwing away a great deal of money! This one seems so obvious but people still build savings accounts while carrying debt! If you have $1,000 in debt on a 21% card, you’re throwing away $17.50 in interest fees every month.
Savings: $17.50 per $1,000 debt on a 21% card - Bank Errors Will Cost You. Take 30 seconds each time a bank statement or credit card bill arrive in the mail.Almost every year, I catch a fee or purchase on one of these statements that shouldn’t have appeared. This past month, I found a $60 charge on my bank statement for an order that was canceled. A quick call to the merchant and my $60 was back in my account.
Savings: Varies - Use Online Billpay. Online Billpay is a great way to save on stamps, envelopes and energy. Paying your bills is quick and easy and you’ll save $0.39 for each one you don’t have to mail.
Savings: $3.90 per 10 bills - Don’t Pay Your Credit Card Company Interest And Fees. With so much competition in the credit card industry, there is no reason for you to hold a credit card with annual fees. Unless you’re getting a great deal on benefits, the $60 annual fee or so should go right back in your pocket. Cancel those cards and sign up for a card that doesn’t burn you every year.
Savings: About $60 per year - Now Check Your Bank Fees. Just like the credit card company, your bank is probably charging you a monthly feeto keep your money there. Shop around and find alternate options such as student checking to cut those fees out.
Savings: Around $5-$15 monthly - Use Your Bank’s ATM. Convenience will hurt you. It is so easy to run to the closest ATM machine and take out$20 but you’re going to get hit with a $2.00 fee! That’s 10% of your withdrawal! Instead, use your bank’s ATM or get cash back with your purchase at supermarkets and retail stores when you know you will need the cash. If you have the willpower to not spend cash in your pocket, take out a full week’s worth of cash at once if you must pay a fee.
Savings: $2 per ATM Visit
Home - Kitchen
- Eating Out Eats A Hole In Your Wallet! Don’t get me wrong–eating out in restaurants is a nice treat but can you afford it? Surely you can eliminate one trip per month and save yourself some cash. Consider this–a couple of cheeseburgers, an appetizer, two sodas and a tip at a neighborhood grill will drain you of about $32.50. At that price, you could cook yourself a couple of steaks at home and enjoy a few beers with your meal. You’d probably have money left over for dessert too! Eating out really adds up so definitely review your meals.
Savings: $10 for two people at a moderate restaurant - Supermarkets Love Selling Prepared Foods. Those subs, pasta dishes, rotisserie chickens and chicken fingers near the deli counter at your grocery store are tough to pass up until you see how much it costs for you to prepare the same food at home. Sure, it can lengthen the time between your purchase and your first bite but it is often worth every second.
Savings: Varies by meal - Shrink Your Waistline And Grow Your Savings Through Soda This is an easy one that helps your wallet and your weight. Substitute one soda per day with a glass of water. Buying soda in a 12 pack brings the cost down to only a quarter or so per can. Even though it is only a quarter, one soda per day getting substituted with water will save you some cash!
Savings: $7.50 per month for one soda a day - Paper In Your Cabinets Means Less In Your Wallet. Why are you eating on a paper plate or drinking out of a plastic cup? Are you at a barbecue? If not, use a regular dish and glass for your meal and keep your money in your wallet! You’ll run your dishwasher a few extra times per month but the savings will not go down the drain.
Savings: $10 per month
At The Office
Savings: Up To 6% Of Your Salary
Savings: About $4 per month for basic coverage
Savings: Varies
Savings: At least $2 per day, $60 per month
Savings: $24/month for two $3 coffees each week
Savings: $12/month for 3 trips a week.
Personal Needs
- Stop Smoking! This is a dead horse that continues to be beaten but why throw away so much money? Everyone will be happier once you quit and you’ll save your lungs and your money.
Savings: $42/month for only 3 packs a week - Cancel Your Gym Membership. I’m a big advocate of the gym but so many people have good intentions and no follow-through. If you’ve signed up for a gym membership and you’re not going, take the trip at least one more time to cancel.
Savings: About $50 per month - Let Your Hair Grow. I was on a schedule of getting my hair cut once per month. I changed to once every six weeks and I doubt anybody has noticed. This cuts out (pun intended) some of those costly trips each year and saves me a bit of cash.
Savings: $87 per year
How Do You Save Your Money?
Every one of us is frugal in some way so if you have something to add to this list, please do! Leave a comment telling everyone how you save some cash each month and give us an estimate of the amount.
DailyBrilliance RSS Feed
40 Responses From Our Readers
1.) Mbongwe at November 29, 2007 around 4:06 pm
Great list! Just don’t get obsessed trying to save too much - sometimes the time lost to get a better or save money worths much more than the cash you saved.
2.) snlsucksnow at November 29, 2007 around 4:14 pm
Thanks for sharing this! I don’t know if this is so much an idea of saving but earning. At our work, HR pays us $500 if we get a salaried position filled for them. I always scan the job openings and think of friends that could work here. Got 2 people hired last year for $1000!
Dugg btw
3.) Grateful_NotDead at November 29, 2007 around 4:33 pm
Another great post! Thanks!
4.) Cowboyfan82 at November 29, 2007 around 5:06 pm
you didn’t mention rebates. lots of times stores like Best Buy have products for like $50 and then a $50 rebate. Buy the product, get the rebate, sell on Ebay. I’m always looking for stuff like that and fatwallet.com is a good place to hear about it.
5.) Caligurli80 at November 29, 2007 around 6:16 pm
I started riding with friends everywhere I could since I can’t afford gas. It worked out so well that I sold my car! Now that’s savings!!!
6.) Kyeann at November 30, 2007 around 12:23 am
Great list! Glad to see so many energy-saving suggestions.
One thing though — it may be more costly to close those credit card accounts with fees. Your FICO score (the one that banks use to determine your loan rates) is based partially on the percentage of total credit available to you. If you close an account and limit your available credit, you may see a dip in your score. Also, the average age of your accounts is a factor — the longer, the better. It might be worth it to keep paying those fees if you’re thinking of applying for a mortgage or auto loan.
7.) Jestly at November 30, 2007 around 12:27 am
Cut your own hair. A lot of frugal billionaires do it too :).
8.) Brian Hicks at November 30, 2007 around 12:34 am
Strictly speaking, you still owe sales taxes on online purchases, it’s just that out-of-state business aren’t required to apply the tax on their end. You’re supposed to report that sales tax to the state yearly or so, but enforcement is lax to nil.
9.) Nate at November 30, 2007 around 1:49 am
You should NOT use Netflix. Instead, support your local non-chain video store.
10.) David B at November 30, 2007 around 1:59 am
Get movie rentals from your local library for free or at the Red Box at McDonalds for $1.
11.) Julia at November 30, 2007 around 2:59 am
Re: Use Online Bill Pay
Stamps are only 39 cents?
12.) JohnnyBoy at November 30, 2007 around 3:09 am
Good List. Here are few more ideas:
Pay off your credit cards by getting a loan through prosper.com. There you borrow directly from other people thereby cutting out the bank from the loop. This should save a bundle on interest payed. It works the other way around too, lending your money on prosper pays an interest rate way higher than the bank would.
Use less than the recommended amount of detergent when washing your clothes. They get just as clean anyway. Dry your clothes on a drying rack to extend their life. Tumbling the clothes makes them wear out a lot faster.
Canceling the gym membership is not a good idea. A few bucks for a healthier and more attractive body is a good investment. Of course, it is better to stop paying if you are too lazy to go there.
Flossing and brushing your teeth is another investment that pays off big. Flossing actually has a very positive effect on overall health. Dental work can get very expensive.
13.) Joe at November 30, 2007 around 3:56 am
@JohnnyBoy
Cancel the gym membership. Go outside and walk or run. Lift stones or large rocks for weight lifting. Sit ups and push ups are free. You can find a place to do pull at most local playgrounds. Gyms are a rip.
14.) John at November 30, 2007 around 4:09 am
Use coupons. Spend a $1.25 on a Sunday newspaper and save many times that with the coupons that are in the ads section..Just remember to use them. Plus you’ll learn something about current events.
15.) Cash Advisor at November 30, 2007 around 6:45 am
that was good advice
nice post
16.) gugu at November 30, 2007 around 7:45 am
Download your software, movies and music from the internet.
Get an European Diesel car with close to nil consumption instead of 6l trucks. In Europe they have strict rules that limit consumption.
Always make international calls via Skype or voice over IP. Try to voice chat over the internet when you can instead of using the phone.
Buy shit online, it tends to be cheaper and you save the gas to the shop, and the time wasted there.
Never buy the latest technology on the market, always aim in the middle performance rate. Being an early adopter is going to cost you, and the value of your high end electronics goods is gonna fall faster than you can manage to sell them.
Always think if you really need the shit you intend to buy or is just your advertising poison mind messing with you.
Drink tap water, bottled water is just tap water chemically treated for purity, you rarely can feel the taste difference and the difference in purity is infinitesimal.
Buy bulk and in large quantity. Buy off season, buy shit that you need in the winter in the summer.
Replace incandescent light bulbs with green ones. Install motion and noise light switches.
Do drink coffee and cocktails and whatever you want and do go to clubs and have a good time. I mean why do you save money in the first place … i hope you don’t do it to buy more shit you don’t need. Use the savings to have fun , meet people, interact and socialize.
It’s really all about that in the end. On your death bed all that u really still have are your memories. Invest in them.
17.) steelgoddess at November 30, 2007 around 8:16 am
Great tips! Don’t forget to add baking your own bread!
With a loaf of bread near $3.00, our family of 4 was going through 2 loafs per week. I found a bread machine at a thrift store (only $5.00) and have been baking my own fresh preservative free bread for months now. Really saves on cash and it only takes less than 10 minutes to prepare. Plus, it’s a hell of a lot healthier for you!
Savings: $24 bucks a month or $288 bucks a year!
18.) CJ Armstrong at November 30, 2007 around 8:21 am
Eh, nothing new here. It’s the same old repackaged advice from one of any other sites. Also, the advice here is subjective - at best. For example, I’d gladly give up the phone line my home if my house hadn’t been built 65 years ago and my cell phone had better reception. As it is, I already missed a family emergency several years ago when I didn’t have the home phone. What’s worth more to me, the $55/mo. that I spend on my home phone, or knowing that, in an emergency, people will be able to reach me at home?
While the advice on avoiding the movie theater may ring somewhat true in terms of cost, etc. the essay that it links to is inane and self-indulgent. Also, if everyone stopped going to see movies then there wouldn’t be any movie theaters and there wouldn’t be any movies. Hollywood isn’t going to make enough off of dvd sales to prop up next summer’s tentpole picture that you will all flock to see. They make their money on ticket sales and the theaters make their money on concessions.
etc…etc…
19.) Rob at November 30, 2007 around 9:36 am
One tip I heard: before buying that next gadget, try waiting 30 days before buying it. And if you still want it after 30 days, go for it. This will help slow down impulse buying and hopefully reveal the things you truly want.
20.) Anroop at November 30, 2007 around 9:47 am
Instead of living this frugal life this way, you are better of not living. This is the advice I got from my parents… Work hard, invest your time in learning and earn so much that you do not have to think of these little things in life. Sure, they do save a lot… but, with the amount of time you spend in collecting those coupons, looking for those internet deals, trying to find those mail in rebates and wasting time to follow up if they don’t come… you could be doing lot better things that will take you to the next level in earning… Good luck.
21.) Dave V. at November 30, 2007 around 11:02 am
Use open source software.
Download GNU/Linux for free and save $100-500 for MS Windows and $50+ for antivirus/spyware/firewall/etc.
If you still have to use MS Windows, you can still save money on software with the following:
Download OpenOffice.org for free and save $300-600 for MS Office.
Download Firefox for free and save $40 on Opera.
Download Gimp for free and save $200 on Adobe Photoshop.
Best part is updates are free too so you can continue to save money in the future.
22.) babycarrot at November 30, 2007 around 11:18 am
This is very informative. However, I disagree with some things like insurance. It is a great investment to have one because you will never know what’s going to happen to you. And I don’t want to leave my family (I am single, btw) grieving and in debt just to give me a nice burial.
23.) kamotegirl at November 30, 2007 around 11:22 am
Free and Open source software are good ways to save. If you are the type of person who uses computers just for surfing and word processing, there are FOSS alternatives for MS products like Fedora or Ubuntu for Operating System and OpenOffice.org for Productivity suite. This will automatically save you hundreds of dollars.
24.) mysteray at November 30, 2007 around 12:09 pm
i’d like to know where you’re going that has $2 beers and $4 mixed drinks. drinks in my area are more like $3.50 for a beer and $5 plus for a mixed drink.
25.) darrel at November 30, 2007 around 12:30 pm
lol
26.) Tiffany at November 30, 2007 around 5:53 pm
Don’t cancel your gym membership OR your insurance. For the few dollars that you pay, its much wiser to keep yourself fit (will cost you less in the long run) and provide for your family if you kick it. Many workplaces provide life insurance as a benefit that costs you little if anything. If you cancel it, and then something happens to you, those who are stuck paying your credit card bills/mortgage/funeral costs will be that much sadder because they might have to go into debt to provide you with a fitting end.
Other than that, I’d say, Live within your means and don’t spend on credit.
27.) Caligurli80 at November 30, 2007 around 6:50 pm
Are you guys nuts? All he said was beer is $2. That’s expensive here! In Southern Cali, my friends and I go to three different bars that all have $1 beer night for everyone and penny night for girls. Just because your town overcharges for beer doesn’t give you the right to jump all over him.
28.) Edison Maxwell at December 2, 2007 around 7:19 pm
Buy stuff at thrift stores instead of buying it new.
29.) 36 Ways To Save Some Extra Cash Each Month « at December 2, 2007 around 8:36 pm
[…] read more | digg story […]
30.) Sean at December 2, 2007 around 10:39 pm
If you live in a loft / condo or an apartment, and your good friends with one of your neighbors; try splitting the internet bill by sharing a connection through a wireless router. We pay 50% of the Comcast bill, and it’s worked out great thus far.
31.) Ideas To Make Office Life More Pleasant - Happy Monday! at December 3, 2007 around 10:07 am
[…] not encouraging you to go out to eat for lunch since we know how expensive that can be but just because you pack your lunch doesn’t mean you can’t enjoy it elsewhere. I […]
32.) grant at December 3, 2007 around 7:34 pm
Great article.
One thing I do the difference, I let my wife cut my hair.:)
33.) Money Problems Bring You Down » Diet Mind Spirit at December 4, 2007 around 2:10 am
[…] continue reading Posted on December 4, 2007 | No Comments | Filed under : general, online self help, self improvement, setting goals […]
34.) Advice For New Bloggers - What Worked For Me Early On at December 7, 2007 around 5:57 pm
[…] I wrote my article on 36 Ways To Save Some Extra Cash Each Month, I inadvertently did some bad math. In my post, I mentioned the exorbitant ATM fees and said that […]
35.) SchraderTrader at December 11, 2007 around 1:23 pm
A follow up. Here’s a solid article on not necessarily saving money, but not getting caught in the wrong consumer cycle.
http://lawrencecheok.com/170/lifestyle-danger-consumer-spending.html
36.) ButtHole Pleasures at December 22, 2007 around 3:14 pm
1. Get wireless internet
2. Get Skype (get a wifi phone)
3.bag your lunches
4. automatically divert %30 of your monthly income into savings
5. put that into assests
your golden.
37.) Need Some Cash? 36 Ways To Earn Extra Money at March 4, 2008 around 3:35 pm
[…] looking at ways we can save money each month. In fact, one of my most popular posts so far has been 36 Ways To Save Some Extra Cash Each Month and for good reason. Whether you’re trying to pay off debt or ramp up your retirement […]
38.) » Stop Complaining About Gas Prices at Internet Bestinations - The best movies, links, and sites the internet has to offer. At least that’s my opinion. at May 24, 2008 around 1:34 pm
[…] And here’s 36 more ways to save money each month from dailybrilliance.com […]
39.) Cheat Sheet: Ultimate Personal Finance Sites List at June 6, 2008 around 4:51 pm
[…] 36 Ways to Save Cash Each Month – Small, simple ways to save $5-$50 on everyday life expenses. Even $5 x 36 adds up! […]
40.) Nicole at June 30, 2008 around 10:28 am
I save money by shopping at the 99cents store .You need to check dates always.Except I can go in there and spend $50.00 if I were to go to Walmart for the same name brand products my bill would easily be $148.00. Yes you need to really be careful because some products will be higher at the 99 cents stores.Except look at this canned vegtables 2 cans for 99 cents Rague speggetti sauce 99 cents.I have just trippled the savings right there.Paper towels 99 cents buying bulk 10 rolls for 12.00 costco.I just got 10.oo rolls under $10.00 at the 99 cent store.Shop carefully and you really do save.Fresh fruit sometime will be there peaches,grapes all those wonderful costly things.
Leave a Comment