Money Saving Tips

20 Tips on How to Save Money in Your Daily Life

Tips on How to Save Money in Your Daily Life
Written by Irina Vasilescu

Whenever the New Year arrives, don’t you usually make it a resolution to save more money? How many times have you successfully done it? If the answer is never, you are not alone. Millions of people from the US and all parts of the globe find saving money to be a huge challenge. This is especially true for those who do not make it a habit to create a monthly budget, or set aside a savings or emergency fund.

The good news is that you do not necessarily need a major lifestyle change in order to save money. There are little things that you can do on a daily basis which, when all put together, will give you great savings in the long run.

Before dishing out which everyday changes you can make in order to save money, let us first have a quick look about why this is important in the first place. Even if your salary is above average, you might find yourself deep in debt if you are spending more than what you’re actually earning. A lot of people fall into this trap of spending more than their keep.

So the next time that they receive a paycheck, they use the money to pay for their debts instead of allotting the funds for expenses and savings. Once you fall into the habit of borrowing money, it is not something that’s so easy to get out of – thus the vicious debt trap.

This is where budgeting proves to be useful. When you take steps to create a monthly budget, you can set aside funds for all your necessary expenses, put money towards your savings account and even be fully prepared for the future as well as emergency expenses.

Top Tips on How to Save Money in Your Daily Life

What are the specific ways for you to save money in your daily life? Some of these are suggestions from the American Institute of Certified Public Accountants. They published a list of ways to cut down on family expenses. The individual savings may not sound like it’s a lot but when you put together all your efforts, you are bound to realize huge savings later on. Take a look at the following list:

1. Know where your money is going

How much income is entering the household? If you’re living alone or earning with a spouse, determine your total monthly salary and deduct from it your overall expenses. Make sure that your expenses are all necessary and do not include the wants, or the little luxuries that you indulge in every now and then.

When you’re monitoring the ins and outs of your finances, you will know exactly where the money is going and make adjustments as necessary.

Infographic: Where your paycheck goes.

2. Brew your own coffee

If a branch of a popular coffee chain is right next to your office, you might be tempted to drop by every morning to get your caffeine fix. But if you’re always ordering the tallest cup of fancy latte, your coffee-related expenses will soon add up. By buying a decent coffee machine, you can brew your own coffee at home at a fraction of the price.

3. Use a water filter at home instead of always buying bottled water

There are many good quality water filters that you can install at home for drinking water. Instead of always buying bottled water, having a reliable water filter will save you lots of money. Even if you’re going out for a run, you can still use the same water by bringing a refillable container. You can even do your share in helping save the environment by minimizing the number of plastic bottles that your household is using every year.

4. Eat out less

There’s absolutely nothing wrong in trying out a newly-opened restaurant in your area but always eating out will take its toll on your budget. Schedule those visits to fancy restaurants on a twice or once-a-month basis. For the rest of the weeks, you can prepare simple, healthy meals at home without having to spend too much.

5. Save money on entertainment

If you must go out with friends, do it during happy hour to save on bar tab. You can also limit the number of times that you’re buying those quite pricey movie theatre tickets. Plan DVD marathons at home and enjoy the company of friends or family – and save money in the process.

6. Make your own baked goodies

For this, you can determine if baking bread or pizza dough from scratch will cost you less. If it does, go ahead and fill your kitchen with the smell of freshly baked goodies. Otherwise, buy the bread that you need from a neighborhood bakeshop.

7. Make your own gifts

During the holiday season or if someone is celebrating a birthday, it’s a good idea to make your own gifts. Consider the personality of the person who you are giving the present to and think of affordable yet thoughtful presents that you can make right at home. For instance, a niece who is a movie buff should enjoy a gift basket with microwavable popcorn, DVDs and packs of candies.

8. Save money on meat

Eating less meat will actually make your family healthier but if you can’t help it, buy a slow cooker which you can use to slow-cook cheaper cuts of meat. The taste will be divine but the expense will be lighter on your pocket.

9. Save money on groceries

When going grocery shopping, always make a list. Plan a menu for the week and make an inventory of what you still have in the pantry so you don’t overbuy.

10. Make sure that everyone in the family wants to save money

Your home’s heating and cooling system takes up 50% of your utility bills. Depending on the season, you can make sure that your home’s insulation is tight so that no cooled or heated air from the inside will escape. Also, you can make every family member do something to save on water and electricity consumption. This will allow you to save a lot of money paying off those monthly utility bills.

11. Buy clothes off-season

At the end of the summer season, you can buy swimsuits and summer clothes at a fraction of the price. Save these for the next summer season and do the same thing for your winter clothes. When buying garments off season, you can stumble upon great sales and discounts.

12. Go comparison shopping

Whether you are buying from online or physical stores, going comparison shopping will save you a lot of money. There are online tools and apps that you can use to compare the rates from different stores. You might also want to check out the online reviews so that you would know if buying a specific brand will give you the best value for your money.

13. Use coupons, online discount vouchers and similar deals

Another way to save money for everyday shopping is by cutting out coupons from magazines or using discount vouchers which are available online. Just make sure that the coupons are for items which you usually buy. If you will use a $5 coupon on an item which you would not usually add to your grocery cart in the first place, you might end up hating the product and waste your money instead of saving it.

14. Eliminate any unnecessary subscriptions

If you already have Internet connection, you might not necessarily need cable or satellite TV subscription. You can simply subscribe to streaming services online to get the premium content that you need. You can also eliminate magazine or landline subscriptions which are considered superfluous these days.

15. Use heat-generating appliances during the cooler hours of the day

When ironing clothes, do it during the cooler hours of the day so that you can use less electricity.

16. To save money on gas, check out sites like

If you’re using your car to get yourself to and from work, your car will be consuming a lot of gas. Use sites like to check on the rates of different gas stations – even a few cents in price difference will save you money if you are filling up the tank.

17. Take full advantage of the services from your public library

Instead of renting DVDs, simply borrow them from your public library. You can also gain Internet access there, borrow books, download or borrow e-books and use the references for free.

18. Stay healthy

With medical and hospitalization costs being always on the rise, the best way to prevent such expense is to stay healthy. Prevention is always better than cure so live a healthy lifestyle by eating right and exercising so you can stay away from the hospital.

19. Swap babysitting services instead of paying for a nanny

Working parents spend quite a lot on child care expenses. To cut back on this cost, swap babysitting services with neighbors or relatives. You can also pay your niece, sister or a female relative to watch the baby for you at a lower price than what you would pay professional babysitters.

20. It doesn’t hurt to ask for fees to be waived

Finally, it never hurts to ask for annual credit card fees or late fees to be waived. These expenses do add up in the long run and if you have a good paying record with the company, they will usually agree to requests to waive off any fees that you might have incurred.

About the author

Irina Vasilescu

Irina Vasilescu is our money-saving and DIY expert and also the editor-in-chief as she's always on the lookout for the latest online deals.


  • I need to do better at making my own baked goods. I am gluten free, so it is harder to find good recipes I enjoy and I too often fall for the easy, grab a wheat free cookie at the store, when I am buying a $2 cookie, yes one cookie. And it probably has more sugar than I should be having anyway. I could do better for my budget and my health from making my own, or just giving up cookies.

    • Gluten-Free is one of those things that you either buy in stores and spend a small fortune, or you make your own goods at home and spend a slightly smaller fortune. Prices have been going down of GF products, but they’re still far more expensive than non-GF options. Are you GF because of celiac or by choice?

  • These are definitely some great tips. People have no idea what adjusting a few of the minor wasteful spending habits in their life can do for their financial health. Learning to build up your savings is an everyday thing — and something you should strive to improve constantly.

  • What a great article detailing many ways to help reduce costs and save back on money in our daily lives. This is immensely imperative too, because all that money we spend a day could be put to save for when it is really and truly needed or we can stop ourselves from not having enough money at certain points. One service I certainly want to do away with is my landline subscription. There just isn’t much need for it anymore in this day and age of smartphones being predominantly used.

  • Some good ideas here. I think too many of us default to approaches that might be simple and at hand but are essentially costing us money. I guess we pay for the convenience. But if we take a bit of time to think about what we’re doing and how we can be more cost effective, we could make some big savings.

    • Couldn’t agree more. My family does some of these things already, and now that I actually think about it, we’ve been saving a lot more money for luxury items or services like Netflix or video games; Maybe we should take on all of these so there’ll be less complaining about not being able to afford things, lol.

  • There are a lot of great tips here. There is a great store near me where I can get chicken thighs for two dollars per pound. It only takes $20 to feed my family of four for three days. Throw in some fresh vegetables that grow from my own garden, and we are ready to prepare many healthy meals.

    • Sounds like a pretty good price for some thighs! I’m not a huge fan of chicken, but a basic dish with chicken, veggies, and rice can almost never be bad. All of the ingredients are cheap, and there are so many vegetables you can pair with rice and chicken. You end up with a bunch of affordable, easy, and great tasting meals, so it’s a win-win situation!

  • Thanks for the tips and reminders on how to save here and there! My personal favorites are brewing your own coffee and taking advantage of your public library. I commute an hour to work each morning and an hour home each afternoon, and fell in love with audiobooks a little over a year ago. However, those can get expensive! I found that my local library has an app where I can check out audiobooks and listen to them just as if I were listening through the Audible app! Lots of $$$ saved in that area. 🙂

  • I use the library to save money on audiobooks too! There is a saying in the UK, “look after the pennies and the pounds will take care of themselves” and this is so true. Saving a little on lots of different areas of your life soon adds up and is well worth doing.

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