40 Ways To Save $500+ Each Month (That Actually Work)

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Whether it be saving on flights, or eating healthy food, saving money can become an easy thing to do simply by knowing these 50 tips and tricks.

Saving a few bucks daily can amount to hundreds of dollars a month, or even thousands over a year depending on how aggressively you save.

I paid off $40,000 in debt and have been debt-free since I was 24. The feeling of financial freedom is so amazing, especially because I once thought it’d never be possible, but it is. You can do this.

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Below are 50 ways you can save money each month.

1. Get cash back with Ibotta

Ibotta is a free app that gives you cash back for making purchases on things like groceries, clothes, toiletries, and much more, which can all be very helpful when traveling.

It’s silly not to use Ibotta if you’re a regular grocery shopper and also have to buy things like clothes, toiletries, and pretty much anything else you’d find at a store like Walmart or Amazon.

If you sign up now, you can get $10 in your account by using my link here.

If you’re downloading Ibotta on your phone, the app will ask if you have a referral code. Use my referral code: lwyxxrb and you’ll get $10 for signing up.

2. Overpaying for cell phone service

Fox business recently shared an article that said the average person spends about $57,600 over 60 years for their cell phone plan. That number doesn’t include buying new cell phones, extra equipment, etc.

I tested out a Tello Mobile phone that cost me $19 per month

Slash your cell phone bill in half by switching to Tello. Tello plans start at $5 and the highest plan being $39.

You can cancel or upgrade your phone plan any time you want and keep your existing number. I only need the $19/month Tello plan which gives unlimited text and calling, with 4GB of data. 

3. Negotiate your bills (I saved $290)

Did you know there’s a company out there that negotiates to lower your bills?

Billshark is a MUST for anyone who has a cell phone, cable, internet, or insurance bill and wants to lower their bill.

And trust me, it works because I’ve used it myself on 3 different bills and I’ve saved $290.

Here’s how Billshark works:

  1. Send copies of your bills to Billshark. (I did this by uploading an online PDF of each bill).
  2. Billshark negotiates all of the bills you send in.
  3. You get notified if Billshark was successful. If they are, they take 40% of the savings. Ex. Billshark saved me $290 over the course of 6 months, so I pay them $116. I can do this in a monthly payment plan or all at once.

It’s definitely worth the savings and it was such an easy process. 

You can start lowering your bills with Billshark here.

4. Move your money into a high-yield savings account

Are you still using a bank that is offering a 0.03% savings rate? Yep, that’s what my previous bank offers for savings rates, but CIT Bank is different. 

CIT Bank currently offers a high-interest earning of up to 1.70%. 

Applying only takes a few minutes. You can start saving with CIT Bank here.

If you have an emergency fund, why let it sit in a bank account offering 0.03%? My emergency fund is sitting in a high yield savings account and making me money every month.

If you’re not sure what your bank accounts savings rate is, contact your bank and ask. It’s worth it. 

5. Plan your meals ahead of time

Prepping your meals ahead of time gives you the benefit of making sure you don’t run out to a restaurant last minute, which helps both your wallet and health.

$5 Meal Plan eliminates all of the meal planning and worrying and gives you everything you need to succeed.

6. Learn how to DIY

Learning how to DIY items can save you a ton of money. Here is a list of 50 ways to save money with DIYs.

As you can see, there are so many ways to save car insurance premiums to pets.

7. Check your credit score

Do you know your credit score

A high credit score will save you money when you purchase a car, rent or purchase a house, take out a loan, or when you apply for a credit card.

9. Ditch the coffee spending habit

Most people are going to coffee shops and spending around $4 a day on coffee.

Ditching the habit or only going on the weekends can save you hundreds. Getting a Keurig and reusable K-Cups saves you a ton of money and helps the environment.

10. Set goals

Setting goals and planning to succeed ensures that you won’t get off track.

For example, you can set a goal to save $500 this month, and then write down the steps to get you to that goal.

You can challenge yourself to only eat out once or twice a week, do a no spend challenge (no clothes spending or electronic spending), and track your progress throughout the month.

Telling a friend of the challenge can even inspire them to do the same, which adds some accountability! 

11. Digit 

Digit is a fun money-saving app that helps you save money for a particular goal.

Say you want to save up for a vacation, Digit will analyze your spending and automatically move money from your checking account to Digit when you can afford it. 

Digit knows exactly how much to save, and allows unlimited withdrawals so you can access savings at any time, and even has a 1% savings bonus.

Get 30 days free of Digit here.

12. Compare apartments

Figure out what you want in a gym and then start comparing apartments.

Same with #12, an apartment complex with a bunch of extra stuff might sound amazing, but you’ll end up paying extra (usually).

I like to use Apartments.com to compare prices, amenities (a gym would save me money), washer and dryer in unit (so I don’t have to find quarters once a week to do laundry), and stuff like that.

Also, I make sure that the apartment complex has walking areas and a dog park so that I don’t have to drive every time I want to take my dog for a walk.

13. Free ways to entertain children

Use these ideas to entertain your children on a budget.

Having fun and teaching children shouldn’t be costly all the time. Some of the best things in life are free!

14. Set automatic transfers

Most banks will let you set automatic transfers so that you can transfer a certain amount of money every week (or whatever you set it to).

By making these transfers automated, you’re making sure that money gets put into your savings as we can be forgetful.

It also eliminates the painful part of putting money away into savings since it’s done for you without you thinking about it.

16. Negotiate insurance rates

You’d be surprised by how much you can save when you tell your agent you’re looking at different insurance companies to see if you save money.

Mine, for instance, immediately told me that I could be saving money by taking off a few extra things that didn’t matter (why didn’t we do this sooner…?).

I ended up saving $20 a month.

Also, you can save by taking a good drivers class (it saved me a few bucks each month), and you can also get student discounts if you’re a good student.

Related: 20 Side Hustles Perfect For Moms

17. Learn how to take care of your car

Learning how to take care of your car is crucial in making sure it lasts a long time and doesn’t break.

Here is a list of a few things to know if you have a car.

18. Rent out a room

Do you have extra space in your house?

You should be renting out to Airbnb if you do have extra space.

A cool feature of Airbnb is them letting you know an approximate amount of what you’d get in your area if you rented out your room.

You get to meet cool people, host people from all over the world, and learn about different cultures without even leaving your house. 

Get $40 here if you’ve never used Airbnb before.

19. Use apps to save on gas

GasBuddy is a money-saving tool for people who want to save on gas.

It’ll tell you the cheapest gas in your area and will even reward you when you enter new gas prices in your area.

There have been so many times in my life when I’d drive down the road and see two different gas stations marked 40 cents apart, which can add up to a lot of savings if you have a 15-gallon car.

Related: 10 Apps That Will Save You Time And Money

20. Get student discounts on the following

You can get student discounts on pretty much everything, whether it be electronics, car insurance, fast food, clothes, and more.

Check out this list of student discounts here.

 College is expensive, and you should try to get back every dollar you can!

21. Programmable thermostat

A programmable thermostat saves you money and time.

22. Ditch the bad habits

Bad habits can impact your life more than you know.

Smoking, drinking, and not sleeping can not only hurt your wallet but your health, too.

I quit smoking cold turkey (I believe it’s the best way, but everyone is different), and I also put a challenge on myself to not drink alcohol for a year.

23. Fight your hospital bill

Healthcare in the U.S. is always quite the topic (don’t get me started).

I had health insurance through one of my past employers and ended up with a hefty bill of a few thousand dollars.

I ended up fighting the hospital bill by showing proof of how much I made at the time, and how I was not going to be able to pay it.

They ended up waiving it 100%.

Now, I’m always afraid to go to the hospital or urgent care (I went to urgent care once and got charged $500 for my visit).

24. Save up for Christmas ahead of time

A Christmas savings plan can help you by making sure you save enough money ahead of time on gifts.

Or, you can talk to your friends or family about starting a secret Santa gift exchange every year.

Less clutter in your house with things you don’t need and less money to spend. Start new traditions.

25. Volunteer more

Volunteering has more perks than most people know.

For example, a huge well-known music festival in Texas offers volunteers free tickets to their music festival, and all you have to do is volunteer for a few hours every day.

Volunteering for your city cleanup program or animal shelter also gives you access to monthly parties and you’ll meet new friends.

Also, volunteering is free and can be a lot of fun!

26. Cancel subscriptions

Canceling subscriptions like Spotify or Hulu can save you a lot of money over the year.

I know of people who have Amazon Prime movies, Hulu, and Netflix, so if you’re trying to save money and have all of these in subscriptions in place, choose the one you like the most.

Monthly box subscriptions have become quite popular over the past year, too, giving people stuff they don’t need.

The monthly box companies try to make it sound like a good deal by getting all of this stuff, but most of the time, its things you don’t need.

27. Practice responsible driving

Driving responsibly not only avoids tickets or uncomfortable situations with cops, but you also save on gas, too.

Driving above the speed limit and braking often leads to you using more gas than you need to, and obviously, increases the risk of accidents and hurting others.

28. Read personal finance books

Personal finance books can educate and inform people about topics that might seem intimidating or foreign.

Having basic personal finance information is key to succeeding in life and getting control of your money.

29. Refer a friend

Referring friends to apps, banks (my local bank offers $100 referrals), Airbnb, and more can put money in your pocket.

All you have to do is share your referral link.

30. Make your own laundry detergent

This DIY homemade laundry detergent can save you a ton of money and you can see what is exactly going into your clothes that directly touch your skin.

31. Housesit

Housesitting is an awesome way to travel and get an authentic experience of a city.

You watch someone’s house (and maybe take care of their pets or garden, too), while they are away on vacation.

You save money by not spending on accommodations, and you get to see what it’s like to live in a city that is foreign to you.

32. Learn how to cook fancy meals at home

Learning how to cook at home is essential for good health and saving money.

It’ll decrease the craving and urge to go out to a restaurant and allows you to see what ingredients are being put into your food (who knows what they put in there at restaurants!).

33. Plan your own party at home

Planning your own party at home instead of going out can save you a lot of money.

Here a few party ideas:

34. Use Hopper to save on flights

Hopper can tell you when’s the best time to buy a flight. It’s incredibly user-friendly and will get you the best flight for the cheapest price.

Related: 11 Ways To Save On Flights

35. Ditch the YOLO mentality

Ditching the YOLO mentality is key to saving money.

The “You Only Live Once” mentality makes people think it’s okay to spend a ridiculous amount of money on shoes or something that they really don’t need.

This kind of mentality does way more hurt than good since it can create bad spending habits.

36. Cut your own hair

Cutting your own hair can save you hundreds of dollars over the course of a year.

I used to do this for awhile but realized my thick hair could not be treated at home with someone who has no haircutting experience.

Do this at your own risk.

37. Save on pets

Before getting a pet, make sure you have money saved and are prepared to spend money.

Pets can get into unexpected accidents or get diagnosed with diseases. And always make sure to get your animal spayed or neutered to decrease the stray population.

I wrote a detailed post on how to save money on pets that you can check out here.

38. Refinance your student loans

Refinancing your student loans can save you hundreds of dollars over the years. Here is a detailed post on how to do it.

Are you about to be in school or currently in school? Make sure you apply for scholarships.

39. Join a clothing swap

Clothing swaps take place in most cities as a way to buy cheap clothing from other women or men in your area.

You can get great discounts on clothes people no longer want anymore, and make some money off your used clothing you no longer wear.

Final Note

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What do you do to save money each month?

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