Money saving hacksHave you ever wish that saving money was easier? We know that saving money is important but actually DOING it, is harder than it sounds.

Here are 20 simple money-saving hacks to help you save thousands of dollars! 


1.     Make a meal plan and a grocery list

Apart from rent, food is often the biggest expense. A great way to reduce food expenses is to draw up a simple meal plan for the week, make a grocery list and buy your weekly groceries in one go. This will prevent you from going to the grocery stores every day and spending unnecessary money. 

It’s also worth cooking food that can turn into several meals for the week. For instance, if you make roast beef with potatoes and turnips one day, you can make a vegetable stir- fry and mixed veg and chicken soup another day, with the left-over food.

2.    Ditch cable 

A total of 73 percent of U.S. households have a cable or satellite television subscription.  This is a cost that can be eliminated or reduced by considering alternatives like Netflix, Hulu, or Amazon. All three have plenty of watching options but are easier on the budget.

3.     Refinance your mortgage 

Mortgage payments can consume up to 50% of your lifetime earnings.  With this in mind, it’s worth refinancing your mortgage to a lower rate. 

When you initially apply for a mortgage, you will normally be offered a fixed rate of interest for 2-3 years. Once the fixed period ends, your mortgage rate will be converted to your lender’s Standard Variable Rate, which is often higher.

If you remortgage your loan and switch it back to a lower fixed rate again, You can save money on mortgage payments. Bear in mind, however, that there will be fees associated with remortgaging, so speak to your bank about these first.

4.     Save money on bank fees

Do you travel or send money abroad? You can save hundreds on bank fees by using cheaper alternatives like TransferWise or Xendpay. Also, Revolut, Monzo, and TransferWise allow you to withdraw money abroad for low to minimal fees, compared to banks.

5.     Homemade coffee 

Coffee is considered to be the holy grail of many working professionals. However, the average price of coffee is $3.12.

 If you are drinking 2-3 cups a day, it all adds up.

Drinking home-made coffee can save you lots of money in the long run. You can even invest in a decent coffee maker and coffee beans, so you aren’t compromising on taste or quality. 

6.     Consider carpooling

If you want to reduce your commuting costs, you should look into car-pooling. You share your car ride with passengers travelling in the same direction and split the fuel costs. 

Gocarma, Side, Treesforcars, and Zimride connect passengers with car owners so you can save money on your commute. 

7.     Skip the name brands 

Generally, all brands are made in the same factory, but some cost more than others because they have a well reputable brand and invest heavily in marketing. Skip the name brands and go for the generic brand alternatives- they taste the same!

8.     Clear your food cupboard out

Every 2-3 months, clear your food cupboards out. Now use up all the ingredients in your food cupboards before you go grocery shopping again. It will force you to be creative with your meals and you will save money on your groceries. 

9.     Transfer your credit card debt into a 0% balance transfer card

The average credit card has an interest rate of 17%. You will have to pay this on top of any debt you owe on your credit card. You can reduce your credit card debt by switching to a 0% balance transfer card normally offered to new customers for a fixed period.

10.  Plan free activities 

We often spend lots of money on activities when we are bored.  A movie, dinner, and drinks a couple of times a month can easily cost hundreds of dollars. You can reduce this expense by planning free activities to do in your free time instead. You can have just as much fun but spend less. 

11.  Drink water

Did you know that 1 in 3 Americans drink soda? That’s a lot of money spent on sugary drinks. You can avoid all that sugar and expense by drinking water. Or if you find water to be too plain, make flavored water with fruits. It's a healthy, tasty option.  

12.  Unsubscribe to all e-commerce sites

E-commerce sites are experts at enticing customers to spend money. With constant offers of discounts and deals, the temptation to resist spending becomes even harder. Spend one evening unsubscribing to all e-commerce and shopping sites.  It will save you hundreds in the long run. 

13.  Automate your savings 

Make savings as easy as possible by automating your savings from your salary every month. Digit and Chime, automatically deduct savings from your salary, allowing you to save easily. 

14.  Grow your own herbs

Herbs are often used to make food taste better, But a jar of herbs can be costly!

You can grow your own herbs and save lots of money while eating healthy freshly grown produce. A few easy herbs to grow are parsley, basil, and mint.  

15.  Renegotiate your interest rates

This is a simple as calling up your banks and asking for a lower rate. Mention all the products you hold with them and the fact that you have been a loyal customer for x number of years. You don’t ask you don’t get.  

16.  Get your books from the library 

Instead of spending money on books, check out your local library. It has plenty of books you can borrow as well as video games and magazines to entertain you for free, for hours. 

17.  Use coupons codes for online shopping 

Every time you shop online, have a quick google to see if any coupon codes can give you a discount. This has worked for me every time I purchased something online. It may only be a 10% discount, but it all adds up.

18.  Invest your spare change

Acorns round up your purchases and automatically invests the spare change, so you can grow your savings without realizing it. 

19.  Buy refurbished electronics 

Apple Refurbished offers refurbished electronics which are products that have been sent back and fixed. The refurbished products have a warranty and work just as well. This article is being typed on a refurbished Mac bought 5 years ago, which is still working just fine! 

20.  Get cashback from grocery receipts

You could get cashback by scanning your receipt with ibotta and Checkout 51. Download both apps and scan your receipts to find out if you are entitled to any cashback on your grocery products.