ways to save money
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The demand in daily life is increasing day by day. As demand increases, so does cost. As a result, saving money by reducing costs is a big challenge. Expenditure does not match income. So many people are suffering at the end of the month.

But with a little effort, you can reduce your monthly expenses as well as save some of that money for your future!

40 Simple ways to save money

By following some simple ways in daily life, we can easily save some money. Now I will discuss about 40 ways to save money.

Remove unnecessary expenditures

In which sectors the expenditure should be reduced, it has to be written in advance in the account book. You cannot save money by reducing necessary costs. There are a lot of unnecessary costs in our daily life, if we can reduce these costs.

For example, you may have a hobby of going to a luxurious restaurant and having dinner. You might go to an expensive restaurant 3 days a week for dinner, but if you go one day instead of 3 days, some money will be saved. Again, if you buy a little less expensive electronics product instead of a very expensive  product, you could save some money.

Create a Budget

The public budget is to earn according to the expenditure and the personal budget is to spend according to the income. So you should create a budget according to your income. This is very important. Because, then the risk of extra cost per month is reduced.

If you are planning to buy something, it is better to fix it at the beginning of the month. If there is nothing very urgent, it is better not to buy. Don’t buy extra product for the family if you don’t need it. In this way you can implement your budget.

Reduce bank account

There are many of us who have multiple bank accounts. Such as: Savings Account, Current Account, Joint Account etc. A study in the Journal of Organization Behavior and Human Decision Process found that when money goes down in one account, people inevitably start spending money from another account and thus spend more than they earn.

So if you want to keep expenses less than income, do not have more than one account.

Take care of daily necessities

Nowadays we use a lot of expensive things. Such as laptops, smartphones, tabs, expensive music systems or headphones. If there is any damage to these gadgets, it is a matter of cost to repair it. So take care of your own things to keep costs low. Also, if it is in good condition, you can sell it at a good price in the future.

Make a list before you go shopping

Make a list of what you want to buy before you go shopping. Then look at the list carefully and think, is it all necessary for me? Don’t start shopping right after you make the list. Wait a while. The desire to buy a lot will go away. Trim the list. Just buy what you really need.

Buy a bottle of water

Not a bottle of ordinary mineral water. Instead, buy a reusable water bottle. When you go out, fill it with water and take it with you.

Then it will not be necessary to buy mineral water from outside again and again. This will save you a lot of money in the summer.

Buy products from less expensive stores

Nowadays many people do all the shopping from the super shop, because all the necessary things are available in one place. Although it costs more, many people do not think about it.

Instead you can buy fresh products at much lower prices from local grocery stores, raw markets. Also try to find out which store has the best items at the lowest cost. This will save a lot of cost.

Keep a goal-reminding picture in your bag

According to a study in the Journal of Marketing Research, if you carry a picture of your child in your wallet, it will help you to save money.

Because this picture will help you to always stay away from unnecessary expenses. These pictures will always remind you, your responsibility towards them. This picture will remind you, about the cost of education for their beautiful future, about saving money to take them around. It will act as your virtual reminder.

Reduce the amount of debt

If you have a loan unpaid or a credit card bill unpaid, repay the loan first. Because Credit card companies charge 16 to 20 percent interest on unpaid balance of bills. Once the loan is repaid, start saving again. Because with the amount of money that has been deposited in your savings account so far, you can lead your life very well, I hope.

But if the loan is unpaid for a long time, the amount of your loan will continue to increase. Besides, the interest rate of the loan will also continue to increase. So if you can afford it, repay the loan first.

Organize a potluck or one dish party

Think about it, how much money do you spend every month eating out with friends? Undoubtedly a lot of money is spent. Instead, you can organize a potluck or one dish party at home. Where every guest will bring their home made food and share it with one another. This way you can save some money.

Make financial decisions before you go to bed

If you have to buy something you need tomorrow, think before you buy, don’t rush to make a decision. Ask yourself 7 questions before buying the thing. The questions are given below:

  • Is it really necessary?
  • Do I have any such thing like this?
  • Where do I keep it?
  • Will it match with other things?
  • Am I spending too much money to buy something?
  • Can I get it at a lower price?
  • Will I face any financial problems after buying it?

Leave the credit card at home

If you know where you are going today it may cost you a lot of money but the money will not be spent on necessities, it will be spent on luxury and hobbies then leave your credit and debit cards at home. It is true that if you have money in your pocket, hunger is not easily satisfied. Let me be clear, when you don’t have money, even if you are very hungry, that hunger will be satisfied with a cup of coffee.

But when you have money you only need to have a cup of coffee but the mind will force you to have a burger with coffee. So just go out with a credit or debit card if you really need it.

Shop alone

When it comes to shopping with someone, we usually buy things that we don’t need on the advice of others.

Again, when your friend buys something beautiful, you can’t resist the urge to buy it. If the thing is not necessary for you then only the money will be wasted. So it is better to shop alone and save time and money by buying only the things you need.

Do not waste

There are many of us who waste. Because of this waste, we are unknowingly losing a lot of money. Such as – keeping the lights on during the day, keeping the fan on in an empty room, running the AC unnecessarily, working by opening the water tap, etc. With a little awareness, some money can be saved by eliminating these wastes or bad habits.

Use one credit card

valuepenguin.com in one of their studies showed that the average annual credit card fee is $ 147. The average annual credit card fee is ranging from $25 to $550.

Then you realize that the more you use credit card, the more your credit card fee will increase. So it would be better for you not to use more than one credit card.

Pay cash for all purchases

One way to get out of the debt trap is to use cash instead of credit cards after purchasing goods. If you pay the bill on a credit card, you will need to load dollars into the credit card. For this you have to pay extra fee. So the more cash you use in shopping, the more money you will save.

Pay off mortgage as soon as possible

You should try to make mortgage payments as soon as possible.

Suppose, you have bought a house for $100,000 with a 30-year mortgage at 9.5 percent, then you calculate that when you make the last payment, it will be more than $300,000.

In this case, I can give you a suggestion, that is, when you buy a house, pay a large down payment. 20% down payment is ideal, if you buy a house with 20% down payment then you will get a loan without private mortgage insurance (PMI). So both down payment and early loan repayment are beneficial for you.

Use a bank that charges less service fee

As can be seen, by depositing money in the bank, we are very confident that my money is safe. But we also have to look at the cost. Because there are many banks that will charge you different types of fees.

Not all banks charge the same fee. Some banks charge a reasonable fee and some banks charge different types of additional fees. So you have to select a bank where you can get good service at low cost.

Manage your time properly

There are some expenses that are spent suddenly; there are some that are being spent every day, Since these are small costs so we don’t care. For example, maybe the distance from your home to the campus/office is ten minutes on foot, but you are going with car instead of walking there, as a result of which you are consuming oil, gas, petrol. Car’s mileage is also declining. Or you are using a taxi. The rent alone is a huge monthly expense. Do you think about this?

In this case, your financial crisis is being created because you cannot manage your time. You can save gas, oil, maintenance, repairs, parking, insurance, licensing etc. costs if you walk out of the house a little earlier.

Set up an automatic savings account

This method is very effective for those who do not like to save money. You can create an automatic savings account where the money will be credited to your account without any effort. Once the money is deposited, you will not have any desire to spend. Again you will get interest from that account.

New note helps to save money

As funny as it may sound, it is one of the psychological tricks to reduce the extra cost! Most of us have a weakness for new notes. Old note is spent quickly. But we don’t want to spend on new note.

So set aside the amount of money that will be needed later in the month, but there is a risk that it will be spent earlier. If you don’t believe, you can put more and more new note in your bag and see if any change is coming!

Use public transportation

If you use a car, you will have different costs including oil, gas, parking costs etc. But the cost of public transportation is relatively low. Besides, there is no problem of car parking.

Try to reduce Tax bill

A large part of our income goes to taxes. Some money can be saved if we can reduce some of it. There are various ways to reduce taxes that need to be followed. Such as Claim Tax Credits, pay into a pension scheme, meet the tax return deadline etc.

Set up an Emergency Fund

Emergency fund will assist you in many ways. This fund will help you to meet your medical expenses, unemployment time expenses, or any problems that may arise suddenly. So save some money in the emergency fund without spending unnecessarily. This will allow you to save some money and you can use it in case of any unforeseen problems in the future.

Follow the “slow moving” policy

If you need to buy something, don’t rush to buy it. Try waiting for an hour, a day, or even a week. Lastly, if you really need the item, think twice before shopping.

Check the return policy before buying the product

Be sure to know about the return policy before buying the product. You should not buy products that do not return if there is a problem after purchase. For whatever reason, your product may break or stain before it reaches home.

You must not want to use anything that is broken or stained. In this case, if you can’t return it and bring another product instead, then the whole money will be wasted.

Avoid rich friends

This is also a great way to save money. You can understand why I am saying this only if you think a little in a cold head. If you are a member of a middle class or lower middle class family then you can never spend in line with the upper class.

An affluent person would go to a restaurant and spend 5-6 thousand dollars if he wanted to, but if a person from a middle class or lower middle class family goes to spend with them, understand what will happen! So my advice would be to avoid rich friends as much as you can.

Learn the basics of car repair

A study by Kwik Fit found that a driver in the UK spends £ 1,295.52 per year on car maintenance and servicing. According to the CAA, an American spends $817 a year on car repairs. So if you know the basics of car repair, you can save some money.

Use price comparison websites & Apps

Using price comparison websites & Apps you can easily find out the price difference of different products. Especially when you go to buy an expensive product, you must take the idea of ​​price from these websites & apps.

Some price comparison websites

Sign up for loyalty cards

Many retailers, supermarkets, restaurants add points to the loyalty card as a reward to their customers. Some points are added when customers purchase something. These points can be converted into money-off vouchers. This way you can save some money.

Sell ​​old electronics products

You will notice that you often have to spend on repairing old electronics products in your home. Old ACs, TVs, mobiles, fridges, washing machines, etc. are often damaged and you have to spend a lot of money to repair them. So selling old electronics will be profitable for you. This will save some money and will also save on repairs.

Repair clothing

If any part of the cloth is torn, do not throw it away. You can repair the loose part and run it for a few more days. This will save you money on buying new clothes.

Know about vouchers and discount offers

We often see different companies are offering discounts on their products and some are giving different gift vouchers. That’s why before buying anything, you can find out if there is any discount on that product or if there is any usable gift voucher available.

Turn off Automatic subscriptions and memberships

We usually subscribe to various organizations’ websites to watch movies, play games or take any other services. For this we have to pay a certain amount of fee every month or year. But there are some services that we do not want to use after a while.

But because Auto Renew is active, they deduct fees from your account every month or year. Many times it is happening without our knowledge. So canceling automatic subscriptions and memberships would be better for us.

Cut ties with cable

You might think you can’t watch TV show without cable. But your idea is absolutely wrong. Now there are many apps and streaming services in which you can watch your favorite programs. The users of these apps and streaming services are also increasing day by day. A study by Leichtman Research Group, Inc. (LRG) found that 78% of TV households subscribed to a Pay-TV Service.

Reduce energy costs

Every month we have to spend a part of our income to pay the electric bill. Some money can be saved here if we are aware. For example, to check if there are any leaks in compressed air systems, install energy-efficient lighting, Upgrade your Equipment etc.

Reduce travel costs

Travel is an addiction for many people. They don’t feel good if they cannot travel abroad after a few days. But we know that traveling somewhere can cost a lot of money. So we can save a good amount of money if we travel less.

Reduce your cell phone bill

There are many of us who talk a lot on the phone. Because of this, a portion of their monthly income spends behind the phone bill. Again, buying expensive internet packages also costs a lot of money. In this case, if we reduce unnecessary talking on the phone and use less internet, then some money can be saved.

Buy in bulk

One of the ways to save money is to buy in bulk. If you buy your household items in bulk, such as flour, grains, sugar, and spices. Then you will be able to buy at a slightly lower price than the actual price.

Cultivate vegetables

If there is enough space in front of your house then you can cultivate different types of vegetables. This will allow you to eat organic and fresh vegetables as well as save some money.


There are many more ways to save money. If you want to, you can save money by using them. But no matter how much I talk about the method, if you can’t control yourself while spending money, there will be no benefit. Always keep an eye on whether you are making proper use of money.

Let’s take another look at 40 ways to save money.

  1. Remove unnecessary expenditures
  2. Create a Budget
  3. Reduce bank account
  4. Take care of daily necessities
  5. Make a list before you go shopping
  6. Buy a bottle of water
  7. Buy products from less expensive stores
  8. Keep a goal-reminding picture in your bag
  9. Reduce the amount of debt
  10. Organize a potluck or one dish party
  11. Make financial decisions before you go to bed
  12. Leave the credit card at home
  13. Shop alone
  14. Do not waste
  15. Use one credit card
  16. Pay cash for all purchases
  17. Pay off mortgage as soon as possible
  18. Use a bank that charges less service fee
  19. Manage your time properly
  20. Set up an automatic savings account
  21. New note helps to save money
  22. Use public transportation
  23. Try to reduce Tax bill
  24. Set up an Emergency Fund
  25. Follow the “slow moving” policy
  26. Check the return policy before buying the product
  27. Avoid rich friends
  28. Learn the basics of car repair
  29. Use price comparison websites & Apps
  30. Sign up for loyalty cards
  31. Sell ​​old electronics products
  32. Repair clothing
  33. Know about vouchers and discount offers
  34. Turn off Automatic subscriptions and memberships
  35. Cut ties with cable
  36. Reduce energy costs
  37. Reduce travel costs
  38. Reduce your cell phone bill
  39. Buy in bulk
  40. Cultivate vegetables


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