Smart Money Saving Tips: 19 ways to save $500+ each month

Saving money is not as hard as most people think. Sometimes we end up buying things we don’t really need just to fill up our  spaces.

Before you start  thinking of any saving ideas you need to ask yourself, how am I spending my money? You need to keep track so that you can come up with easy and smart money saving tips that  will help you cut down on your expenses.

Take a hard honest look at your expenses, your bills and your budget. With that, you will immediately notice some of the areas you can cut back and some of the things you can do without.

Below are 19 smart money saving tips on how you can save up to $500 each month. Some of them might seem small but they can make a big impact on your finances.


1. Cut out cable.

It’s time to say bye-bye to cable. Anyway who still needs cable nowadays when there are so many good alternatives like Netflix, Hulu, and Amazon Prime.


2. Plan your meals ahead.

Not only will planning your meals ahead make you eat healthy but it will stop you from making that last minute restaurant runs and the temptation to order in. Last minute grocery shopping will make you impulse buy things that you really don’t need and some might end up getting spoilt.

Have a list with you any time you go shopping. It will keep you in check. There are so many times I have done grocery shopping, overbought fruits which end up going bad.

If you are new to meal planning or you are finding it a bit hard try out $5 meal plan which is perfect because it saves you time as they send you a meal plan and a shopping list on a weekly basis. It will be stress-free for you as you don’t have to keep brainstorming for a new recipe every time you want to cook.

Don’t throw away any leftovers, you can reheat them on a later day for lunch or even dinner.


3. Smart money saving tips: Cancel your subscriptions

Check out your subscriptions and cancel the ones you don’t need. Things like a magazine and monthly box subscriptions you don’t need.

You can read the same articles online in the magazine’s website for free, or even when you go to the salon or you can rent out a copy in the library which will be cheaper.

If you have a monthly box subscription, have you used all the items in the last two months? Most probably no. They make them sound so good, to a point you start thinking you can’t do without one. You shouldn’t continue paying for something you aren’t getting the value of your money.

Do you have a gym membership subscription you never make use of? Time to cancel it and workout from home.


Make sure you unsubscribe from store’s newsletter. The marketing team always send notifications when they have a sale and it can be hard to say no. This is a simple way to cut down on impulse buying.

Interested in more smart money saving tips?

The best and realist frugal living tips for this year

12 things I stopped buying to save money

smart money saving tips

4. Ditch bottled water

It may not sound like you will be saving a lot by ditching bottled water but it’s the small steps that count and that money accumulates in the long run.

Get yourself a reusable water bottle if you don’t own one already, fill it with water every time before you leave the house. You can even add some lemon which is good for your skin.


5. Start a budget and stick to it.

For you to be able to save you need to have a budget in mind. A budget will help you to keep your spending in check and you will also know  the areas you can cut back on which will help you save more money.


6. Take lunch to work

Carrying lunch to work will make you eat healthy and you get to save money as well. If you have leftovers pack it and reheat during lunch time. Eating out is expensive, it doesn’t matter whether it’s dinner or lunch. If you don’t have leftovers you can make yourself a sandwich or a salad which won’t take you more than 10 minutes.


7. Use Airbnb

Do you love traveling and want to save some money as you do so? Airbnb is your answer. They are way cheaper than hotels and more comfortable too. The hosts are super friendly and they will even point out the best and most affordable local spots to try.


8. Travel off season.

This means you will get a cheaper flight, cheaper hotels and you will get discounted prices for tourist attractions. Another bonus is that it is less crowded.

9. Rent out a room

Do you have an extra room in your house? Why not rent it out and make some money. You can list it on sites like Airbnb, will make sure you get clients faster and who are genuine.

10. Stop the coffee runs

One of my best smart money saving tips.I used to be a victim of coffee runs. A cup of coffee may cost only $2 or $ 3 which may not sound that much, but it adds up. Why not invest in a coffee machine which is way economical and all you have to do is buy beans which can last you many months.

11.Smart money saving tips : Set goals

What are you saving money towards? For student loan? Mortgage? Travel plans? Whatever your reasons, having goals will motivate you and make it easy for you. It will also make sure that you don’t get off track. Challenge yourself or get an accountability partner.

12. Get rid of your credit card.

This is big, with a credit card you always think you can shop more. You end up spending money you don’t even have. Do away with your credit cards and use cash only. This will help you save a ton of money as you won’t have a plan B to fall on.

13. Invest in Led bulbs

Led light bulbs consume less energy which means you get to lower your electricity bill. They last longer, so it’s economical in that you don’t have to keep replacing bulbs in your house.


14. Get rid of your paper towels

This also applies to any other disposable products such as plastic plates and fork. Not only will you get to save money but it’s so environmental- friendly. Instead of paper towels use hand towels. For paper towels, you only use once and dispose off while paper towels you simply clean and it can be used again.

15. Buy used and in bulk

Just because something is old doesn’t mean it’s not good. Check out places like eBay and craigslist. You can get almost everything on those site for like half  price.

Check out thrift stores in your area, you might be surprised by some of the things you find there.

If you are shopping for basic things like toilet paper, pasta, laundry detergent, and toothpaste buy them in bulk. It’s always cheaper. Stock up on essentials when there is a sale.


16. Use Ibotta when shopping.

Ibotta is a free app that helps you get cash back on all your qualifying purchases such as toiletries, clothes, and groceries.

The deals are awesome and with time you will be able to save. Next time to plan to do any shopping check out Ibotta to see the deals available. For example, you may get like 2% off the toothpaste.


17. Use Ebates

Ebates is another site where you can get amazing deals online. If you love shopping or you shop a lot you have to take advantage of Ebates. You simply get paid for shopping. Awesome right?

Sign up to ebates for free and get $10 in your account.


18. Buy timeless items

Stop buying fast fashion. They out of style so fast and after that, it will be hard to wear them. Get timeless items that you can wear over and over again and for many years to come. As you shop make sure you buy quality over quantity.

19. Check out this post on 11 smart ways to money on your electric bill. You will be able to lower your energy bill which means you are one step ahead to saving at least $500 each month.

There you have it 19 realist and smart money saving tips to help you  save at least $500 each month. Doing one or two of these tips can change your life and you may be able to achieve your goals.

The truth is everybody wants to save money and make more money, it only happens to those who are willing to take the first step. Which of these smart money saving tips  are you willing to implement in your lifestyle?

smart money saving tips


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