6 Ways to Save More Money Today

I’m a frugal character. I don’t deny it one bit. I’ve learned to embrace it and nurture it. I’m always on the lookout for ways to cut costs and save a few more dollars.

Sometimes saving takes work. Sometimes I have to examine our routines and habits and try to find waste so that I can cut it out. It’s so easy to get into a habit of spending without even realizing what’s going on.

How about you? Have you evaluated your spending anytime recently? Are you cutting costs and running a mean household operation?

save more money today

Today I’d like to offer up 10 ways that might help you immediately begin saving a few more dollars. It’s nothing groundbreaking, but you might find something applicable to your situation. And after all, a dollar saved truly is worth more than a dollar earned (think taxes) on the journey toward financial freedom!

1. Brew Coffee and other Drinks at Home

This one is really simple, but it adds up. There have been studies that suggest some individuals spend almost $1,000 per year on drinks. Sadly, coffee and sodas are often the most overpriced item to buy when out and about. Consider that a $20/month Starbucks budget = $3,540 compounded over 10 years.

2. Cancel Cable TV

If you watch a lot of television, this might not be a popular option, but it’s a good one. $50+ per month is a lot of money, especially with all the online streaming options available. You could go with Amazon, Netflix, or even completely free through a service like TubePlus.

3. Find a MVNO

This is the new breed of cell phone providers. There are several advantages. The first and probably most important is the pricing. Republic Wireless now offers fantastic unlimited plans that start at $10/month. That’s unreal. Even their top of the line 4G LTE unlimited plan is only $40/month. That less than half of any traditional carriers. Which brings me to the next point, no contracts whatsoever. If service sucks, just leave.

4. Cut Your Own Hair

This is more popular with men than women, but I’m proud to say that my awesome wife cuts her own hair now. As do I. For around $20, we have the tools necessary to do this simple task over and over again. This can save you a ton of cash in the long run!

5. Start Cooking More

The average American spends about $1,000 per year on lunches out. Dinner carries an even bigger price tag. Spending 5% or more of gross income per year on restaurant meals is insane. Why not just buy your discounted groceries and cook at home? I actually haven’t eaten a meal out at lunch in probably close to a year. I bring a lunch sack every day. It’s healthy, and it’s cheap.

6. Automate Your Finances

Time is money. Inflation is real. These two truths ought to motivate us to figure out how to spend as little time as possible messing with our bank accounts and investments, while growing our net worth.

This is definitely possible and I’ve had to make a few changes in our own situation. We had far too much money sitting in a local checking account earning nothing. Recently,I moved part of our cash into a no fee, online, high yield American Express savings account earning closer to 1%. That’s much better than what I was getting before.

You can automatically have a portion of your paycheck put into a similar savings account or even direct deposited into an investment account so you don’t have to mess with it each month.

Vanguard offers fantastic ETFs that are free to trade. I’ve written on the topic extensively on my site. To track my investment accounts, I always recommend Personal Capital. It’s free and it is the best tool on the market.

Please share with me any additional ways that you are currently saving money or automating with a comment!

Author Bio: I’m Jacob, one half of the Cash Cow Couple. My wife and I enjoy teaching others how to live an abundant life on a very modest salary. We are attempting to spend less than $12,000 in our first year of marriage because we enjoy a good challenge.

22 thoughts on “6 Ways to Save More Money Today

  1. I would love to be able to cut my own hair, but there’s no way I could do it! I hate going in to have it cut, and I put it off as long as I possibly can (I have long hair, so I can get away with going about a year, year and a half between cuts).

  2. Pleased to report that I do most of these today. I am back to going to a barber though. My wife cut my hair for a while, but she took to taking advantage of the situation by using my time in the chair as an opportunity to lecture me on my shortcomings. The barber never yells at me! 🙂

  3. I cut my own hair all the time. When I was growing up, my neighbor always did it for free so I never knew the price until I got to college. I was shocked that cuts started at $15 when a good pair of clippers could be bought for $40-$50. I opted to just buy a pair of clippers and cut my own hair. Also a big fan of MVNO carriers. I’ve had Virgin Mobile for over a year and actually just switched over to Republic Wireless recently. Hard to beat a $25 a month price.

  4. We’ve done all these except the cell phone. Have saved a ton on our cable bill the past several years. But I’m probably going to hook that back up again once our mortgage gets paid off. We will have the discretionary income again to make that work in our monthly budget. I’m looking forward to that because I’ve really missed watching more sports.

  5. We do all these expect the cell phone. We have our cell phones on my parents family plan that they had before I got married over 8 years ago. Each of our phone is just $10/month. They aren’t smartphones. We just use them as, well, phones! But the price is right.

    We also don’t drink coffee and never buy pop or juice. We always drink water or milk.

    • We are also currently on a plan for that $10. In reality, the cost per person is higher, but if the family is already paying and you can get away with just paying the $10, it’s tough to beat. Only place is Republic Wireless…

  6. These are all great tips! Before we leave for our big trip next month, we plan on eating everything in our cabinets and fridge so that they don’t go bad. We have a lot of excess in our pantry and freezer, so I know we will be able to save a lot of money by doing this!

  7. We recently canceled our cable and it was one of the best money saving things we have done all year. That extra $75 goes a long way and we don’t miss all that TV watching anyways. We have started to enjoy other things like cooking, reading, and when we really want to watch something we still have Netflix.

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