25 Money Saving Tips, I Use

by Krantcents · 31 comments

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These are 25 money saving tips, I use daily/weekly/monthly and they work!  I learned at a very early age that I needed to save my money to get the things I wanted.  Notice, I said the things I wanted.  My parents provided the things I needed!  Previously, I wrote “10 Changes Can Make Millions” and I thought I would share some more.  Start making changes today and you can start saving for what you want too.

25 Money Saving Tips:

  • Walk, bicycle or use public transportation and sell your car – During my working career, I used buses, trains, ride shared, carpooled and even accepted paid riders.  These are just a few ways to reduce the cost of transportation.
  • Get a rewards credit or debit card – Although many of these cards have annual fees, it may be a worthwhile expense if you pay your balance in full each month.  I accumulate enough frequent flier miles to fly overseas and fly business or first class every other year.  Target offers a 5% discount credit or debit card.  Now, that is a reward!
  • Ask for a discount on large purchases like a refrigerator or washing machine – I constantly ask for discounts on any purchase where I may qualify or look for an excuse to ask.  As recently as today, I was about to purchase a desk chair and asked for a teacher discount.  There are many discounts available just for the asking such as professional, AAA club, Senior citizen, and government.  Don’t be afraid to ask.
  • Use the library - They have plenty of books, CD’s and DVDs. You can also request that the library buy certain books.  You can reserve books and other things at the library.  In most cases you will only read a book once, why pay for it?
  • Make saving a game - Set goals and give yourself a reward if you reach them.  I set a goal of at least a 25% discount or I won’t buy it.  Put the savings in your bank account.
  • Find simple things to do vs. spending money - Playing board games at home vs. going out is one example.  A walk on the beach, picnics, going to a public park or other family outings.
  • Cold water wash - A repairman pointed this out to me and using liquid detergent.  It saves on utilities and reduces repairs.
  • Negotiate - I love to negotiate and it does not have to be a chore.  My style is just asking questions.  For example, when will the product go on sale or will you match a price of another store or internet?
  • Plan vacation - Who doesn’t enjoy vacations?  Planning vacations allow you time to find better prices or use discounts.  The earlier you plan, the more options are available.
  • Save stamps by banking online - I discovered online banking years ago when I was going on vacation.  I needed to make sure my bills were paid while I was away.  The side benefit is I no longer use stamps which can add up to $10-20 per month.
  • Shop subscriptions online - I only have a couple subscriptions (magazine & newspaper). I shopped it online and renewed the magazine for three (3) years for $8.22.  I called my newspaper and reduced my subscription by 50% just by asking.
  • Forget the gym membership - You can walk, run, bicycle, lift weights or setup a home gym.  I did 8-10 years ago.  I still use it and added a treadmill and stationery bicycle.
  • DIY - I learned a long time ago that I cannot do anything mechanical.  I end up making a mess, so I found the best cheapest repair people.  That is my solution!
  • Never pay fees for bank accounts, late fees, overdraft fees, ATM fees, penalties, or interest - I avoid fees/interest by finding ways to qualify.  When in doubt ask and they will tell you how to avoid it.
  • Savings automatic - I set up a payroll deduction for my 403B.  Years ago, I started a payroll deduction for my property taxes and other annual expenses.
  • Drink water - Stop buying soft drinks and just order tap water; it is good for your health and free.
  • Adjust water heater - Do you really need near boiling water coming out of your fawcett?  Of course not, it will save you a lot of money.
  • Programmable thermostat - I set my thermostat to a low temperature in the winter when no one is home and high temperature during the summer.
  • Share books - My wife shares her electronic books with her friends and print books too.
  • Surround yourself with successful people - You will learn a great deal from successful people and it will help you to remain frugal.
  • Spend your time learning something instead of wasting it shopping and spending - Shopping should not be your recreational sport of choice.  Find other interests that do not cost money to occupy your time..
  • Keep your car long after you pay it off - Today’s cars can last 10-15 years without major repairs.  My cars are old (17 & 15 years old) and still in excellent condition.
  • Think long term - Quick fixes usually costs more than a well thought out solution.  Investments, furniture, appliances or savings to name just a few.
  • Learn about money, investments and business opportunities - Every day we spend money and eat food.  We need to learn about food to stay healthy and money to stay financially healthy.
  • Don’t invest in anything you do not understand - Warren Buffett sticks to investments he understands and has done very well with that strategy.

These are 25 money saving tips, I use daily/weekly/monthly and they work!

Photo by Tony Crider


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Roshawn @ Watson Inc February 1, 2012 at 8:16 am

You have some unconventional ways to save money in this post, such as
“surround yourself with successful people” and “think long-term.” People
sometimes forget there is more than one way to skin a cat. I definitely have a home gym; the convenience is unparalleled.

Krantcents February 1, 2012 at 5:05 pm

I learn from my friends. If you surround yourself with successful people you will learn from them too.

Dollar D @ The Dollar Disciple February 1, 2012 at 9:59 am

These are all great tips! I definitely need to negotiate more, especially when it comes to major purchases.

We started using the library last year and haven’t bought a book since. Why pay for it when you can check it out for free?

Krantcents February 1, 2012 at 5:06 pm

I love the library and now my wife uses the library for her kindle. too.

Emily @ evolvingPF February 1, 2012 at 10:40 am

Great list!

I switched from buying books to using the library a few years ago and I love it! I have access to great selection between my public library and my university’s library and no longer experience buyer’s remorse if a book doesn’t work out.

I also stopped drinking any beverages other than tap water about a year ago. It’s amazing how much money you can spend just on beverages in a year!

Krantcents February 1, 2012 at 5:08 pm

Libraries are a great resource. I love how I can reserve a book and get it for three weeks. Aside tap water being an economical choice it good for you too.

Hunter - Financially Consumed February 1, 2012 at 6:34 pm

I particularly lik avoiding banking fees at any cost. As soon as you get suckered into a fee it negates all the interest earned on you account for that month. Those little fees make getting access to our money very expensive. It bothers me when I hear people say that it’s only a few dollars. If that’s the case, then the bank can pay for it…it’s only a few dollars. I’d rather keep my money.

Krantcents February 1, 2012 at 6:48 pm

I totally agree, I refuse to pay any fees. Some of the trivial ones such as traveler’s checks, check printing, ATM fees and account fees to name a few. I do not and will not pay them.

Shawanda @ You Have More Than You Think February 2, 2012 at 3:42 am

Great tip on negotiating. I admit it. I’m reluctant to ask for price concessions, but asking when an item goes on sale or whether a brick and mortar retailer will match the price of an online retailer (as you whip out your smartphone) is a smart idea. I’ve actually successfully used this tactic on a large purchase, but never really considered it for smaller items.

Krantcents February 2, 2012 at 6:32 am

For me, negotiating is just asking the question. It often leads to great results. You have nothing to lose.

anexactinglife February 2, 2012 at 5:01 am

I love your DIY advice! I have also had my car for 8 years and plan to keep it for at least 12. A lot of people don’t know that public libraries lend out free e-books.

Krantcents February 2, 2012 at 6:35 am

My cars are reliable, but Iam geting bored with them. I want to replace them before I retire in 5 years. Our library loans out movies too. It is almost an unknown resource, but it shouldn’t be.

Shaun @ Money Cactus February 2, 2012 at 5:20 am

Nice list, like @Roshawn I love that you have covered tips that aren’t just directly about saving. There are a lot of things that we can do to improve our wealth outside of immediate monetary results.

Krantcents February 2, 2012 at 6:36 am

I wanted to share some of the things I have done which I believe is a little different from the usual advice.

Miss T @ Prairie Eco-Thrifter February 2, 2012 at 8:57 am

What an awesome list. We definitely operate alike that is for sure. I love using my legs to get places. I just get this sense of gratification from it. We also plan our vacations well in advance which helps us keep them affordable. You have listed 25 things but I think if we all took a moment we could come up with at least double that.

Krantcents February 2, 2012 at 4:56 pm

There are probably more for another time.

Squirrelers February 2, 2012 at 2:11 pm

Good tips all around, and as far as surrounding oneself with successful people – I think there’s much to be said for that. Of course, success can have many definitions, and people can be great people and role models for life even if not financially successful. But having some folks that are highly successful financially that you are close with can be really valuable. There’s that saying that we’re all the average of the 5 or 6 people we spend the most time with.

Also – think long-term, I agree.

Krantcents February 2, 2012 at 5:18 pm

Since I am always learning from friends and others, I try to surround myself with people who are smarter and more successful than me.

Shilpan February 4, 2012 at 5:06 pm

All of these tips are great for saving money. I always ask this question when I make any purchase, “Is this the best you can do?” Surprisingly, I get better deal on most occasions.


Krantcents February 4, 2012 at 9:43 pm

For me negotiation is asking questions too. In many cases, they will do something for you.

Darwin's Money February 5, 2012 at 8:05 pm

All great ones; I try to live by those and other money-saving tenants all the time!

Krantcents February 6, 2012 at 6:34 am

Thanks, if you track the savings, it is enough to accumulate millions over time.

Savvy Scot February 14, 2012 at 8:08 am

Fantastic Post – I am making a point of putting the areas of improvement onto a checklist – thanks :D

Krantcents February 14, 2012 at 5:23 pm

Thanks, you may enjoy an earlier article. Here is the link http://www.krantcents.com/10-changes-can-make-millions.

Krantcents February 2, 2012 at 5:03 pm

Thanks, banking your savings is the start of a 30% goal. Savings helped me achieve financial freedom.

Krantcents February 6, 2012 at 6:41 am

Thanks, I plan on sharing more periodically.

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