10 Simple Ways to Save Money Every Day

With inflation at 40-year highs, it may seem difficult to save money these days, but it doesn’t have to be. You can quickly start saving money without even realizing it by making a few minor adjustments to your everyday routine.

Here are 10 quick methods to reduce your daily spending:

1. Online shopping extensions.

Use FREE browser plug-ins like Capital One Shopping Extension to have coupons automatically applied to your cart with a click of a button. Get price drop notifications, Shopping Rewards and more!

2. Save Money on Lunch.

Try packing your lunch instead of eating out because it can be pricey (at least $10 in my area, even for “fast” food). You’ll be able to regulate the ingredients and make sure you’re eating a healthy meal while you save money in the process. Not to mention, if you meal prep once or twice a week, you can save time commuting and waiting in long lunch lines. Need some lunch inspiration? Check out this list of 40 easy lunch ideas here.

3. Save Money on Commuting.

Consider using the bus or carpooling with a friend or coworker as an alternative to driving your own vehicle every day. You may be able to save money by reducing your gas and maintenance expenses as well by putting less miles on your vehicle. Alternatively, you can negotiate a work from home arrangement, if you have a desk based job or try to consolidate your shopping trips.

4. Brew coffee at home on your own.

Invest in a quality coffee maker or espresso maker and be your own barista rather than paying $5-10 for a latte every morning. You’ll have more control over the strength, or lack of (decaf), and flavor of your coffee in addition to saving money. Another added benefit is the convenience of not leaving your house.

5. Make use of bargains and coupons.

Sign up for retailers/restaurants coupons and offers. Filter the emails to be saved in a special coupons folder in your email and only look for deals when you need to make a purchase so you aren’t tempted to spend unnecessarily. Some apps offer special deals if you make purchases within the app (TacoBell and Arby’s are great examples).

6. Compare insurance plans.

To ensure you’re getting the greatest bargain, compare insurance quotes for auto, house, and health coverage. You can shop auto insurance every year to make sure you still have the best rate. Don’t be afraid to ask about additional discounts. Sometimes there are discounts for first responders or your company may have a partnership with a certain insurance provider that could save you hundreds per year.

7. Save Money by Conserving Energy.

When not in use, turn off the lights and appliances, check the insulation in your house, and keep your thermostat set at optimal temperatures for the season. 68 degrees Fahrenheit or lower is considered an efficient temperature in the winter and 78 degrees or warmer in the summer months. 

If you’re like me and will literally melt in 78 degrees in the summer, you could also consider purchasing a home energy audit. While this requires a minimal upfront investment, these professionals can help you determine if there is minor maintenance to perform on major appliances and identify air leaks in your home. You may be able to reduce your energy costs as a result.

8. Reduce the cost of entertainment.

Try renting a movie or playing music at home instead of going to the movies or a concert. You might also try cutting the cord and switching to streaming TV if you haven’t already. You could consider using free streaming apps with ads like TubiTV. Evaluate if you have multiple services you could consider cutting like Netflix, Hulu, HBO Max, Peacock, Amazon Prime, etc… You could choose to keep one service for a month or several and then switch to another so the content is fresh without giving up any of your favorite shows/movies.

9. Shop different interest rates.

Look around for the best interest rate before taking out a loan or credit card. Over time, you could save hundreds or even thousands of dollars by doing this. Remember, the S&P 500 has annualized returns of almost 12% per year since 1928. If the debt is more than 12%, it isn’t worth taking on so consider saving and paying in cash. Remember to pay off your credit card every month as consumer debt is some of the most crippling and hard to get out of!

10. Make your savings automated.

Now this is an easy one! To save money without ever realizing it, set up automatic transfers from your checking account to a savings account. I like to do this on pay days or the day after pay day so I’m not tempted to spend it. I also have most of my bills set to pay out the day after payday so by the time I look at my account, most of that money is disposable income until the next pay day, and I don’t have to worry about silly overdraft fees.

Conclusion

You may start saving money every day by using these easy tips. Never forget that little adjustments can have a significant impact over time, so don’t be afraid to begin slowly. Start now and enjoy the advantages of having extra cash on hand.

What are some other unique ways you like to save? Let me know in the comments!