Some of the best advice and tips to save money donât come from âexpertsâ… they come from friends, neighbors, and the community! Just regular people, living regular lives. Who better to share real-world ways to save money that actually work?
Recently, a member of the How To Money Facebook Group sparked a buzzing conversation prompting readers to share their favorite money hacks and saving tips. Some of the comments and responses are solid gold, so we had to share them.
Underrated ways to save money
Hereâs the original post, from Christian..,
âWhat have been some of your favorite “underrated” ways to save money? My wife and I have a fairly dialed-in on our budget but are looking for some unique ways we might not have considered to save some extra money as we prepare to save for a home. Excited to hear your answers!â
Here are the awesome comments posted (and of course, we added our favorite ways to save money, too!)
1. âWindow shoppingâ
Angie D. mentioned window shopping, which we thought was brilliant.
If you really like shopping but you don’t want to spend any money, leave your wallet at home, and just go browsing.
Sometimes folks with shopping habits will stay clear of any/all stores, trying to quit cold turkey. But what this can do is bottle up the feelings and lead to a huge splurge later.
So instead of cutting out shopping completely, just try window shopping â without walking inside. Itâs a great way to âscratch that itchâ, both satisfying your desire to browse, but keeping you on the money-saving track.
2. âGet a clothes drying rackâ
Richard shared his recent money savings tip, getting a clothes drying rack!
And heâs calculated the numbers, too, with estimated savings of $200 in just a few months. đ
Itâs no secret that running the clothes dryer eats a lot of gas or electricity. Getting a cheap clothes rack and hang-drying your gear is a really wise move.
It’s also better for your clothes, making them last longer and saving you money on your wardrobe!
And especially in the Winter too, when the air is dry. It’s a nice way of introducing moisture into the air, which is easier on your sinuses. There you go â it’s a little health-saving + money-saving crossover!
3. âCancel subscriptions as soon as you sign upâ
Kerry M shares a great tip to not get suckered into ongoing subscriptionsâŠ
âI cancel subscriptions as soon as I sign up for them. I may go weeks without watching Hulu or Apple TV, so I donât want to pay for something Iâm not actively using or forget to cancel it later.â
This is also a brilliant money move. Signing up for subscriptions can be stressful because you have to remember to cancel down the line. People get lazy or forget, and then end up overpaying for many months – and even sometimes years.
In fact, research shows that on average, people underestimate their subscription spending by $133 per month! Ouch.
Signing up and canceling immediately is a great way to protect your future dollars. And many services that offer subscriptions still let you see out that first month after canceling.
So if you start a sub on November 1st, and then cancel it on November 1st, you still have it through the rest of the month. And you don’t have to worry about accidentally auto-renewing.
Just carefully read all the terms! You donât want to shoot yourself in the foot and pay for a full month’s service and not be able to watch what youâve paid for.
The best part about canceling subscriptions is â you can always just sign back up again if you need the service down the road.
4. âShop around your car insuranceâ
Another classic comment came in from a reader, TungâŠ
âShop for car insurance every time your policy ends. Thereâs no reason to be loyal to your agent or company. They are loyal to your payments.”
Itâs true. Switching companies and getting competitive quotes for insurance is one of the most underrated ways to save money.
Even if you only do this every 2-3 years, it can save you a boatload. Especially in today’s insurance environment, this is a really smart move.
What we really like about this savings hack is the fact that it is a bigger line item in most peopleâs budgets. A few 15-minute phone calls, like 1 hour of work total, can easily save you hundreds of dollars.
Thatâs a killer return on your time and effort!
5. âDrink coffee at homeâ
The âlatte factorâ isnât just a personal finance myth. Small amounts of money saved over time really do add up!
Tory shared: âI drink coffee every day and I was going out to buy it at coffee shops nearly every day, often ending up getting a pastry as well. This was costing me maybe 40 bucks a week, which adds up. I started a reminder system to make coffee/eat breakfast at home more often to cut down on this regularly. đâ
Itâs too easy for small, daily habits to slip by unnoticed. Spending $10 here and there never seems like a big deal at the moment, but if repeated every day that can add up to $3,650 a year!
Repeat that for years on end and it adds up to a ridiculously large amount over a lifetime. (Not to mention lost investment growth if the money was invested instead!)
Make your coffee at home, people! Itâs not that hard đ
6. âBe a one-car householdâ
Another big ticket item to save money is downsizing your household car footprint! If you have 3 cars, try dropping down to 2. If youâre a 2-car household, try dropping down to 1.
This is Mattâs favorite money-saving tip which has made the biggest impact on his family budget. Reducing auto expenses is truly an underrated way to save that moolah!
People donât realize this, but the average cost of owning a car is about $10,000 per year. No kidding! So this could potentially lead to 5-figure savings for some households.
We get it though, not everyone can drop their vehicle completely, depending on where you live and work. But anything you can do to cut down car costs will majorly help your bottom line.
Related: How to save money buying a used car
7. âKeep snacks on stand byâ
Another great tip from Amy. She saves money on impulse food purchases (and eats healthier, too!)…
âKeeping some non-perishable snacks in my car, purse, carry-on bag, desk, laptop bag, etc. Having a protein bar on hand is not only healthier than going through a drive-through, but much less expensive.â
Ooooh I love this little money hack. Hunger is proven to make you spend more money when youâre out and about, or even going grocery shopping.
It doesnât have to be protein bars by the way, those can actually get expensive, too! I’m thinking of something simple like a bag of almonds. Pick food items that are healthy, not processed, that’s going to give you a sweet bang for your buck to help tide you over to that next meal.
8. âBuy in bulk, then freezeâ
Hereâs a great money tip from Ann which helps cut down on grocery costsâŠ
âWe buy discounted meats that we get for 50% off and vacuum seal them then freeze themâ
Being strategic about meat purchases can save you big money throughout the year. Look for those sales and manager specials! Most meats freeze really well and are able to be stored for months on end.
My wife and I do this with chicken when itâs on sale. Our only issue is freezer space. So weâre actually considering getting a garage chest freezer to store more. I think weâll do that this year!
9. âPrescriptions via InstaCart deliveryâ
Heidi L shares a more modern approach to saving money. By spending a tiny bit more on a delivery service, she cuts down majorly on unnecessary store purchasesâŠ
âI still get my prescriptions at Costco, but have them delivered with Instacart. Saves hundreds – no impulse purchasesâ
We LOVE Costco. And their pharmacy is one of the best Costco perks available to both members and non-members.
But, stepping inside a Costo warehouse can make you feel like a kid walking into a candy store. Somehow we leave with our pockets full of stuff that we donât really need. And a $200 receipt!
Just make sure you donât get too addicted to Instacart. It could lead to spending excess elsewhere!
The Bottom Line:
So there you have it â 9 nuggets of money-saving wisdom directly from the community. These frugal living tips let you save more money day to day, so you can redirect those dollars into investments and retirement savings.
See anything you want to try? Better yet, got a money tip youâd like to share? Post it in the comments below đđđ
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These are some fantastic, often overlooked tipsâespecially the one about window shopping, Thank you for providing valuable content.