Saving money doesn’t have to feel like an uphill battle. With the right strategies and tools, small changes in your financial habits can lead to significant savings over time. Whether you’re planning a vacation, building up your emergency fund or simply looking to stretch your paycheck, these nine tricks for saving money will help you keep more of your hard-earned cash.
1. Use budgeting apps
The first step to saving more is knowing exactly where all of your money goes. Budgeting apps like YNAB (You Need A Budget) and PocketGuard make it simple to track both income and expenses. These tools monitor everything from daily coffee purchases to monthly mortgage payments and retirement contributions.
Modern budgeting apps do more than track spending — they help you set and achieve financial goals by breaking down your habits in an easy-to-understand format. YNAB, for example, encourages zero-based budgeting, where every dollar has a specific purpose. When saving for a specific goal, like a $200 weekend getaway, the app helps you stay focused by showing how everyday spending decisions impact your progress.
Budgeting apps also offer features like custom alerts, like showing you when you’re approaching your budget limit for a category. This makes it easy to course-correct before you accidentally overspend. Many people find it helpful to have their budgeting gamified by an app. These are great tools for people who like visual reminders and real-time tracking.
2. Automate your savings
Making saving automatic removes the temptation to spend. Set up recurring transfers to move money from your checking account to a high-yield savings account each payday. Some banking apps, like Chime and Qapital, offer features that round up purchases to the nearest dollar and automatically save the difference.
This “set it and forget it” approach helps build savings consistently without requiring constant attention. Once the money moves to a separate account, you’re less likely to spend it on non-essentials. Even small automatic transfers add up significantly over time.
Consider pairing automation with a high-yield savings account to earn more interest than traditional savings accounts offer. Look for accounts with competitive interest rates that give your money a little boost while it sits. Even better, many online banks have no fees, which helps you maximize your savings.
3. Download cash-back apps
Love shopping? Why not get paid for it? Cash-back apps like Upside, Rakuten and Ibotta reward you for making everyday purchases like gas, groceries and clothes. Just snap a picture of your receipt or shop through the app and watch the money accumulate over time.
Using cash-back apps is a no-brainer because you’re earning money back on things you’re already buying. Upside, for example, offers rewards for gas and dining out, while Rakuten covers everything from electronics to travel. Stack those savings by using multiple apps, and you could save hundreds a year.
Even better, some apps let you double-dip on savings. For instance, you can use Rakuten when shopping online and combine it with a store’s own coupon codes or loyalty rewards. If you’re strategic about combining offers, you’ll find that even small purchases can add significant cash back over time. Some users report earning hundreds of dollars back just by using these apps regularly.
4. Max out employer benefits
If your employer offers a 401(k) match, make sure you’re taking full advantage of it. Considering the accumulation and tax benefits involved, it’s essentially free money. Contributing enough to receive the full match can significantly boost your long-term savings while reducing your current tax burden.
But retirement savings aren’t the only benefits worth paying attention to. Many companies offer a variety of perks that can save you big money in other areas. For example, check if your company offers tuition reimbursement for returning to school or professional certification programs. Some companies even provide student loan assistance, helping you pay off education debt faster.
In addition, look into wellness benefits like gym membership discounts or employee assistance programs (EAPs) that might cover mental health services. It’s easy to overlook some of these benefits, but taking full advantage of what your employer offers can significantly reduce your out-of-pocket costs and help you save money in ways you might not expect.
5. Eliminate some subscriptions
Between streaming services, meal kits and fitness apps, monthly subscriptions can add up. Do a quick audit of what you’re paying for and ask yourself if you need them.
Many subscription services offer free or discounted trials to lure you in, but if you’re not careful, you could be paying for things you don’t use. Taking advantage of apps like Rocket Money or Trim can help you track and cancel those subscriptions that are collecting dust. Sometimes, companies will even offer you a discount if you try to cancel, so don’t be afraid to negotiate.
Share services like Spotify or Amazon Prime with friends or family. Many platforms allow multiple users on a single account or offer a Family Plan, so splitting the cost means more money in your pocket. You might also find that some subscriptions are seasonal for you, like a sports streaming service or a meal delivery plan. Consider pausing or canceling them when you don’t need them and resuming them later.
6. Plan your grocery store trip
Grocery shopping doesn’t have to break the bank, and being proactive is a great way to save more money. Start by making a weekly meal plan and sticking to a grocery list when you shop. This helps you avoid those impulse buys that always sneak into the cart.
You can also time your shopping trips to match sales and promotions. Many grocery stores have loyalty programs that offer significant discounts or rewards for frequent shoppers. For example, you might earn points for every dollar spent, which can later be redeemed for discounts or even free products.
Apps like Flipp help you compare flyers and find the best deals at local stores. Many grocery store chains also offer their own apps, where you can automatically clip coupons to your account and apply them directly to your purchase at checkout.
Don’t forget to use store-brand items, which are often just as good as the name brands but come at a lower cost. In some cases, buying in bulk from stores like Costco can help you save more in the long run, especially for items you know you’ll use regularly.
7. Refinance your high-interest debt
Refinancing high-interest debt can free up money for savings by reducing your monthly interest payments. This strategy can be particularly effective for credit card debt and certain types of loans.
Consider transferring credit card balances to cards offering 0 percent APR introductory periods, typically lasting 12 to 18 months. This interest-free period allows you to pay down debt faster. Refinancing to a lower interest rate for student loans or personal loans could save thousands over the loan term.
Be sure to research different lenders to find the best rates and terms, and carefully review any fees or penalties before refinancing.
8. Create an emergency fund
Unexpected expenses can throw your budget off, so having an emergency fund is crucial. Shoot for building up three to six months of living expenses in a high-yield savings account, which will grow but is easy to access in a pinch.
If that seems like a lot, don’t worry. Even a $500 to $1,000 emergency fund can help cover unexpected car repairs or medical bills. Automating a small monthly deposit into your emergency fund can make this goal easier to reach.
9. Implement the 30-day rule
Impulse buys can hurt your savings, but the 30-day rule can help. When tempted by a non-essential purchase, wait 30 days before buying. This cooling-off period helps distinguish between genuine needs and temporary wants.
Often, the desire to purchase fades during the waiting period, naturally preventing unnecessary spending. Plus, when you do finally make a purchase, it’ll be one you feel confident about.
The bottom line
Saving money doesn’t have to be stressful or complicated. By making simple changes — like automating your savings, using cashback apps or cutting back on subscriptions — you can build better financial habits and watch your savings grow.
Start small, stay consistent and celebrate your wins along the way.