13 Smart Ways to Stop Wasting Money and Live Better
By cutting out unnecessary expenses, you can save a significant amount. Here are 13 practical money-saving tips to help you stop wasting money and start saving, without compromising on the quality of your life.
My neighborhood’s big coordinated garage sale gave me a surprising wake-up call about the importance of money-saving tips. It’s one thing to see a family’s stuff spread out in the front yard, but quite another to see a whole neighborhood’s castoffs at once. As I walked from one yard to the next, all I could think about were the dumb decisions that led to this colossal display of stuff—purchased with dollars, now offered for pennies.
Imagine how much cash you’d have right now if you could get a do-over on all the thoughtless purchases you’ve made in your lifetime. Me? I’d be one wealthy woman!
I can’t tell you what those little money wasters are in your life (the five pairs of black shoes in your closet? Dozens of owl figurines for your collection?). Just walk through your house, and you’ll see what you’ve been throwing away your money on.
I’ve learned that there are a lot of “conveniences” I don’t really need. Once I end them, it’s like giving myself a raise.
13 Money-Saving Tips to Cut Unnecessary Costs
Just think about it. If you can cut out the stupid stuff, you might find the money-saving tips you need to start a respectable savings program, pay down your debts, or stop running up the credit card. Read on and learn from my mistakes.
1. Stop Paying for Extended Warranties
Extended warranties might seem like a good safety net, but they’re usually not worth the money. (Trust me, the only thing I still get an extended warranty for is my laptop, and that’s because I practically beat mine to death!)
Research shows that if a new gadget or appliance is going to fail, it’ll likely do so during the manufacturer’s warranty period or long after the extended warranty has expired. Retailers love selling these warranties because they’re huge profit centers, but for us consumers, they’re often a waste of money.
Get Smart:
Instead of forking out extra cash for an extended warranty, create a special savings account for potential repairs. If your gadget does break down, you’ll have the money set aside to fix it. And if it doesn’t? Well, in three to five years, you’ll have a nice little nest egg instead of a useless piece of paper.
2. Save Money on Gym Fees Without Sacrificing Fitness
Sure, the sales pitch for a gym membership is compelling, and the promise of better health is hard to resist. But getting locked into a contract with hefty monthly fees for the next two or three years—whether you use the gym or not—just doesn’t make sense.
Get Smart:
Look for gyms or health clubs that don’t require long-term contracts, allowing you to pay month-to-month. Or better yet, consider skipping the gym altogether! There’s a big, wonderful world out there where you can walk, jog, hike, or bike for free. Parks, trails, and even your neighborhood streets offer endless opportunities for staying fit without spending a dime. Plus, the fresh air and change of scenery can do wonders for your motivation.
Prefer indoor workouts? Explore the wealth of free workout channels available on YouTube by searching for “Best YouTube channels for free workouts.” You’ll find a variety of exercise routines that cater to different fitness levels and goals, all without the financial commitment of a traditional gym membership.
3. Avoid Fast-Food Runs and Save Big
We all know how ridiculous it is to spend $3 or $6 for coffee every day. But it’s not just the coffee. How about the morning egg sandwich, the afternoon bag of chips, or that spontaneous drive-thru dinner? These little purchases add up fast, and before you know it, you’ve blown $40 or more in a week on snacks and fast food.
Get Smart:
Instead of letting these costs sneak up on you, plan ahead. Before you leave the house in the morning, figure out how much cash you’ll actually need for the day, then take only that amount with you. Bring your own snacks and pack a brown bag lunch to save even more. Not only will you keep your wallet happy, but you’ll also likely eat healthier.
4. Eliminate Phone Apps and Game Expenses
Sure, it’s fun to have the latest apps, filters, and games on your devices. And while $2 to $3 per app or $10 a month might not seem like much, those costs can add up quickly and take a real bite out of your budget.
Get Smart:
Set a firm rule: no spending on apps or games. Instead, hunt for free alternatives. There are plenty of fantastic free options out there if you’re willing to look. Check out the Apple Store for iPhone or Google Play for Android—you’ll be amazed at what you can get without spending a dime. It’s a small change that can lead to big savings over time.
5. Say No to Costly Fees
In today’s world, not paying attention to your bills can cost you big time. Banks love to sneak in fees to boost their profits. Late credit card payments can hit you with a $30 to $41 fee. And being careless with your bank account can lead to bounced checks, which can be disastrous if it’s your mortgage or rent check. We’re talking foreclosure proceedings or a nasty eviction notice.
Get Smart:
Channel your inner private detective and scrutinize every statement. Question every entry you don’t recognize. Don’t know what a charge is? Find out! Get bold and call customer service if you’re hit with a fee for something silly, like a balance dropping a few bucks below the minimum or a payment being a day late. Explain that this isn’t typical for you, as evidenced by your clean record, and ask them to waive the fee or reverse the charge. It never hurts to ask, and it can save you a bundle!
6. Don’t Overpay for Rental Car Insurance
Agreeing to add extra insurance coverage to your rental can hike up the daily cost by $9 to $40 or more. It’s a waste of money if you already have coverage through your home insurance or a credit card that offers rental car insurance as a perk. Most standard auto policies already include third-party liability, collision, and comprehensive coverage for rentals.
Get Smart:
Before you even step up to the car rental counter, give your insurance agent a quick call to confirm your coverage. Also, check the fine print on your credit card—the one you plan to use for the rental. You might be pleasantly surprised to find that you’re already covered. It’s a simple step that can save you a significant chunk of change on your next rental adventure.
7. Save on Computer Software with Free Alternatives
You snagged a great deal on that new computer, so why break the bank loading it with expensive software? Before you spend a penny, explore the world of freeware. There are plenty of programs out there created by passionate developers and distributed without any cost: everything from games and graphics software to office suites, fonts, and all sorts of handy desktop tools.
Get Smart:
Dive into search mode and hunt down free versions of the pricey programs you’re eyeing. Take Adobe Photoshop, for instance—it’s fantastic, especially for pros. But did you know there are excellent free alternatives out there? A quick search for “free Photoshop alternatives” reveals a treasure trove of options. Give them a whirl; you might find a favorite like Canva, Adobe Express, or GIMP.org. Saving money doesn’t mean sacrificing quality when it comes to software.
8. Limit Unlimited Texting Costs
Sure, texting is convenient and fun, but those unlimited plans can quickly drain your wallet. Upgrading to unlimited texting can tack on an extra $15 per month—that’s about $180 a year per phone! It adds up faster than you think.
Get Smart:
Instead of splurging on unlimited texting, consider scaling back to a plan that includes a limited number of texts. It’s a simple way to save without sacrificing communication. Another option? Look into budget-friendly prepaid cell phone plans that don’t break the bank. A little bit of self-discipline with your texting habits can go a long way in keeping your phone bill under control. Your wallet—and maybe even your friends—will thank you!
9. Avoid Paying for Bottled Water
The bottled water industry has managed to convince sensible folks to fork over nearly 800 times more for water in a bottle than straight from the tap. These days, a 16-oz bottle of “spring” water sets you back about $1.50, roughly tallying up to $12 a gallon—twice the cost of milk and comparable to soft drinks. Even with home delivery, you’re still shelling out around $30 to $60 a month. In contrast, 16 glasses of tap water cost mere pennies. It’s a clear financial drain.
Get Smart:
Next time you’re thirsty, opt for the tap. Not a fan of the tap water flavor? Consider a filter pitcher or install a budget-friendly faucet filter. You’ll save money and help reduce plastic waste. It’s a win-win that keeps your budget in check and promotes sustainability.
10. Get Free Music Downloads
Unless you’ve got cash to burn, shelling out $1.29 or more per song can really add up. Even $9.99 a month for unlimited service can dent your budget. But fear not! There are plenty of ways to legally download music for free that are both accessible and hassle-free.
Get Smart:
Explore ClassicCat.net for a wide range of free classical music options. If you’re into country tunes, the Free Music Archive boasts a vast library waiting to be discovered. Plus, your Amazon Prime membership includes complimentary music downloads. For more tailored options, simply search online for “free downloads” along with your preferred music genre. With these resources at your fingertips, enjoying great music doesn’t have to come with a hefty price tag.
11. Cut Cable and Streaming Costs
With the plethora of streaming services available today, it’s easy to accumulate subscriptions that add up to a significant monthly expense. Assess which services you actually use and consider cutting back to one or two essentials. Many streaming platforms also offer family or bundled plans that can save you money.
Get Smart:
Review your current subscriptions and cut those you rarely use. Opt for more affordable plans or share subscriptions with family or friends to split costs—many services now facilitate this legally (check the fine print). Additionally, consider exploring free streaming options such as YouTube or ad-supported platforms to save even more. It’s a simple way to trim unnecessary expenses without sacrificing entertainment.
12. Shop Smart for Groceries
Grocery bills can quickly escalate if you’re not careful. Plan your meals in advance, make a shopping list, and stick to it. These money-saving tips help you stay on budget while ensuring you have what you need. Look for coupons, discounts, and sales to maximize savings. Consider buying generic brands for non-essential items where quality isn’t a concern.
Get Smart:
Use grocery store apps or websites to find digital coupons and track sales. Buy in bulk for non-perishable items that you regularly use. Explore local farmers’ markets or discount stores for fresh produce and meats at lower prices.
13. Use Energy-Efficient Practices
Reducing energy consumption not only helps the environment but also cuts down on utility bills. Install LED light bulbs, use programmable thermostats to regulate heating and cooling, and unplug electronics when not in use to save on standby power.
Get Smart:
Invest in energy-efficient appliances that have the Energy Star label. Seal drafts around windows and doors to prevent heat loss in winter and reduce cooling costs in summer. Consider using natural light during the day to minimize lighting expenses.
Incorporating these practical money-saving tips into your daily routine can lead to significant financial benefits over time. By making thoughtful choices in how you spend and save, you not only protect your wallet from unnecessary expenses but also pave the way for a more secure and fulfilling financial future.
Remember, the key is consistency and awareness—empowering yourself with knowledge and making informed financial decisions today will pay off handsomely tomorrow.
Question: Do you have money-saving tips or a tried and truly free alternative site or option for something you used to pay for? Do you recommend that others consider it? Any pitfalls or loopholes to look out for? Would you share that with us and your experience in the comments below?
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Hi Mary,
How many weeks does the grocery ads come back to the first one?
I tried look for it but I couldn’t find it. I have 5 weeks of Stater Bros ads and so far they haven’t come back to the first one yet.
Do you have a recommendation for a whole-house reverse osmosis system? Thank you, Mary! You’ve saved us so much money (and grief)! You rock!
Apache OpenOffice is a good alternative to Micriosoft Office Word, Excel, and Powerpoint for those who need light or only occasional use of those typews of programs.
https://www.openoffice.org/
I use Iheartradio. Listen to it all day at work for free. I can even pick my own music and radio stations. Amazing.
Cricket has an amazing unlimited plan for about $20 a month or at least that is what I am paying right now.
i’m with kat. i don’t like google tracking me. i’ve used open office by the apache software foundation and it doesn’t require internet, either. i also use duck duck go and firefox
I remember your post about different cellular companies but I cannot locate it. How can I locate past post? Thank you.
Go to EverydayCheapskate.com. Look for the little orange search icon at the upper right on every page of the site (there are 1000s.) Click on it. Type in a keyword. Hit enter. That will return a link to every post with that subject. In this case enter “cellphone.” Hope that helps!
I have to agree with Amazon Prime. We are remodeling our house and this saves so much time and gasoline shopping, especially as stores are out of so much. I found the LED lights that replace can lights for $10 and they are $18-27 everywhere in town, our electrician was impressed and wanted the link. That’s one example. I am furnishing this house with estate sale finds. There is an app (free) EstateSales.net You can set it up to notify you of auctions, estate sales, business equipment sales, whatever. Lots of photos of the offerings also. I have gotten some great deals, looks brand new sofa for $250 and other great stuff.
We had Sirius radio in our vehicle which they gave us free for a time. When it ended, we hooked my phone to the car and now use the free version of Pandora for trips. It has ads but so do radio stations. Now we enjoy music where ever we drive to when we want it.
Excellent! (Sirus XM has ads, too)
Good grief! Your excellent email comes the morning we are visiting relatives in another state and plan to go thrifting today! The Photoshop link I can’t wait to get home and try. I haven’t upgraded my computer in a long time because when I do my last purchased Adobe Photoshop program will no longer work, and to get it again I would have to pay a monthly fee. Thanks Mary. Your emails are my favorite!
Aw, thanks Glenda! Gimp.org requires a bit of learning as it does not mirror Photoshop exactly, so a bit of a learning curve. I still have a hard time believing it is completely free, but FREE it is!
For Kindle users. …You can find many free books & others anywhere from .99 to 4.99 in your preferred genre from these 3 sites. ereaderiq.com, Bookbub.com, bookGorilla.com.
Car rental companies often charge for down time. This is the time the vehicle cannot be used, when it is in for repairs. Your own car insurance does not cover this.
Toni … Unable to resource this “your own car insurance does not cover this. That’s a big statement … so where do you get that? My insurance agency just confirmed that yes my insurance would cover such an event.
Mary I try do without anything disposable. I get package of large cloth napkins at Sams they are white go right in the washer. Also bar mops and hotel wash cloths for dish rags. For a mop I have one that has a double sided head. I have three cover they go right in the wash.rarely use paper towels. Using these cuts my grocery. The only thing I pay for is Amazon prime. Being semi disabled this allows to get many things cheaper I use Subscribe and save. I saved $23.99 on my last delivery. Make the annual fee worth it and I don’t have to waste gas going from store to store to find what I need. Love you emails I am long time follower.I Sams had an garlic and herb butter $6.00 for 12 oz. I now make my own. $4.23 a pound. One pound of butter 1tablesspoon garlic powder 1 tablespoon dried basil. I use olive oil to it softer mix in my stand mixer. I use it for veggies and for garlic bread.
We got tired of paying ever increasing Cable bills so we cancelled the service. Instead, my husband installed an antenna on the house. He was able to tune it up, and we are able to get all the local networks and many other stations. With the addition of a Roku, we have access to plenty of programming at no extra cost.
haha – quick look at the subject of this email and I thought it said stop “praying” for things you don’t need 🙂
Well … maybe we should do that too!
I do buy water. But I buy water that is filtered and we get 3 – 3 gallon for only $3.45 around there.
I do try to buy what’s on sale. I try not to eat a lot of beef. We eat Ground Turkey. I freeze 3/4 lb. of ground turkey and frozen veg when on sale. I make our own cookies . I don’t have a reg size or large Refrigerator . So, I can’t freeze much. But I use my Vacuum sealer a lot of panty stuff to make them last longer. I am always looking on the internet on how to make my own sauces and spice combinations .I am always trying to learn more ways to save. Thank you so very much Mary for all your emails!
CHEAP CELL PHONE service provider: I use Tello.com (it uses the T-Mobile Network) with 5G service. I get unlimited talk, unlimited texts, and 2 GB of data for $14.00 per month. They also have family plans with the lowest plan for only $5 per month. I bought a 5G capable Samsung phone from Best Buy and have been with Tello since 2018 with NO problems. I highly recommend Tello, they have the best price and service out there!
On buying a 5 year warranty for a tv, which the big tech store sold me. When I had made 2 service calls, they sent me a e-mail saying they had fulfilled the 5 year agreement only after 2 1/2 years because I had used the total $’s I could spend. Now that just doesn’t make sense.
Online bill pay is my favorite. A book of stamps lasts over a year now that I can pay any bill by logging on to my credit union to send a check. And logging on to my bank account is much easier than going thru old books of checks to find out when I paid last year’s property taxes.
If you are someone who loves to listen to audiobooks but don’t like the high price of paying for them, I know of two apps you can use that connect to your local library, and you can borrow audiobooks, ebooks, and videos for free, all you need is a library card. Check out Hoopla and Libby. There are probably many more apps, too, but I have used these and have been very happy.
Also, I used to be a member of Audible, but their prices are high. I get an email each day from Chirp, and they have daily specials on books that you can buy, some as low as $1.99. I just wait until a book that I like comes along, and get it for a much cheaper price. If it’s something that I want to listen to only once, I borrow it from the library, but if it’s one that I want to keep, I get it through Chirp. I never pay full price for an audiobook anymore.
What’s a good alternative for word processing software!
Take a look at Google Docs. Featuring the same functionality as Microsoft Word, Google Docs allows creating, collaborating and sharing various files, spreadsheets, forms, presentations and drawings. Besides, you can use different add-ons for extending the functionality of Google Docs.
Use of Google Docs, as well as Google Sheets, Google Slides, and Google Forms, is completely free of charge. The only time you could possibly encounter fees is if you keep all your documents saved to your Google Drive and use up your 15GB of free storage. However, filling up your Drive with just documents would take about 250,000 3-page documents.
This web-based tool lets you work with documents even offline, meaning that you can keep editing them even without being connected to the Web. Many people consider this editor to be one of the best free alternatives to Word.
I HATE google!!! so whats a free word processing program equal to MS Word for win11? how about a mail program too? hate google anything…thanks
I use OPENOFFICE which is a “freeware” program instead of Microsoft Office.
Best regards from way down south in Florida.
George
Thanks for the computer program tip. Bought a new laptop and found that I could not obtain “works” program any more. With your tip–I found several possibilities. Thank you for all your tips over the years. Daily reader
I do occassionally pay for the extended warranty on certain items, and I’ve used them many times… a dehumidifier, vacuum cleaner, coffee maker, etc. The way to make it worthwhile it to actually USE the warranty when there’s a problem with the item. But, I do understand that it’s a waste of money if it is forgotten about and never used.
Regarding the free software, I use a really old version of Quicken for our finance tracking, and it still works great for our needs. However, i’d like to help our adult children get on track with their finances (they’re willing to learn), but now that type software has to be paid for annually.
I’ve searched and found several free options. Do you have any recommendations for free finance software?
Thanks, Mary, for all your many tips and financial training! I’ve learned so much from your books and emails!
Yes, there is a FREE finance computer program called WAVE that is similar to Quicken and Microsoft Money. Check it out at www.Wave.com
It can be used for personal or business finances.
I went into WAVE.com and it doesn’t look like it does the same thing as Quicken on sends money. Is there another free one similar to Quicken?
You could look at www.MicrosoftMoney.com
Another suggestion is to google “Quicken free program” or “free money management program.” You’ll see what is available.
My Mother used to wonder about people complaining about the price of gasoline while drinking a bottle of expensive water.
We are remodeling our house and went to the dump yesterday with construction trash. Seeing all the recently treasured items people were throwing out of the back of their vehicles was something to ponder. I am going to try hard to remember this everytime I go to Home Goods or anywhere for the new rooms we are making. Imagine this item on a garage sale table or just being thrown out.
We recently had to contact the credit card company about a late fee! The payment was mailed in the day after the bill was received, but with the state of the US Mail these days it was LATE!
They reversed our fee and have included a note with the bill that addresses this problem now. Be careful with that, too.
and most only do it one time! so what happens when you mail your pymt about 2 wks ahead of due date, it STILL hasnt gotten there and they charge you again for late fees? mail is totally UNRELIABLE anymore! and hubs hates paying anything online….hes stubborn and writes checks….
MIne is like that, too. He is trying to keep mail service afloat, but it’s getting really expensive these days.
Re: Rental car insurance, I spent some time quizzing a helpful rental agent about the difference in coverage between use your own and the one you buy from them. He said that one problem many people do not anticipate is that in case of serious damage to the rental car, in the fine print, the renter is liable for the daily cost of the car while it’s being repaired. Your own policy may not pay for that.
I would love to hear someone’s comments on this thought.
Just keep this in mind: Your “helpful rental agent” is more than likely working on an incentive program where he will earn a sizable bonus each time he can convince a customer to add insurance to his or her rental contract. Call your own insurance provider and find out exactly what coverage you have in place already for rentals. If you don’t have what you believe you need, add that to your current coverage. What the rental car companies charge for that is highway robbery—and again, a great portion of that daily coverage goes directly as commission to the friendly counter clerks.
I’ve heard that argument especially that Florida is different. I’ve also read some real horror stories. I worked in industry and my office covered whatever got waved. My Dad pointed out that on occasion even breaking that rule can make sense. The example he had was when he was to visit a navy shipyard. He was pretty sure that there would be paint spray in the wind and got the extra coverage. Yes, the car got covered in little grey speks that were covered.
I also admit to buying coverage on occasion from pressure from hubby. The last one was a no brainer to me and fortunately we lost the bet! I fixed the pick up and return to be all in one day, but since we had to drive through NYC during rush hour, not that there is much difference, we felt the chance of getting hit was above 50%! It was worth it for us not to have a hassle before a flight out of JFK. In general, it’s not worth the cost although I’ve never had damage to a rental.
I remember when the bottled water craze hit, a comedian on TV asked, “When did we all get so thirsty?” I’m still drinking tap water. I agree about the breakfast sandwich here, the afternoon snack there, the expensive coffees. It drains your money fast. I don’t do warranties and added insurance either.
Yes about all the above. I make homemade b’fast sammies and freeze them. Buy canned biscuits when on sale, bake them all up & freeze. Assembled b’fast sammies are freeze friendly also!!!!!
The plastic bottle is so true, and the easiest Skippack expense that helps save our planet. Another advice from me? Don’t look at sales flyers, don’t go to the stores, look less online. Instead go for a walk outside. It is amazing how much you can save. You aren’t really saving if you get “a good deal” of you didn’t need it in the first place.
Another one to add to the list is life insurance if you haven’t purchased a plan when you were young. I was in a family plan with my ex-husband. Before we got divorced he cancelled the policy and I had to look for my own insurance. Being in my 60’s, I found it was much cheaper to put the amount of my previous premium into a savings account for my final destination. I already have more than enough saved for final expenses with leftover funds and I’m not dead yet. Of course, I don’t have any other loans or a mortgage to pay off either.
When I was young a colleague convinced me that life insurance was betting against yourself, it is! But I had no responsibilities or debts.
After that I convinced a colleague who had said his wife was excellent at finances not to get mortgage insurance but rather a term policy his wife could use as she needed. He checked with a church friend and reported back that not only was it cheaper he now understood that mortgage insurance was a decreasing term policy which he hadn’t fully understood either.
It’s always great when people are sharing info with the next generation!
Regarding rental car insurance … I have never paid a rental company for their coverage, and used to get by with my own auto policy. However, now that our cars are older (well maintained), we have minimal coverage on them and lost that rental car coverage benefit. I also do not carry a credit card that offers this benefit.
After some searching, a few years ago I found www.insuremyrentalcar.com (underwritten by Chubb) and have used it several times. The rental companies question it, don’t like it (they aren’t making money off you), but have to allow it because it is legitimate coverage, and much cheaper than theirs!! I just print the policy (17 pages!) to show them at time of rental, and they have accepted it. There are probably others (Allianz Travel comes to mind). Luckily I have never had to file a claim with this coverage, I guess that would be the real test, but I have felt safer having it.
It would be great if you were able to check these out in your thorough way, and verify that they are worth buying for those who do not have rental coverage on their auto policy or credit card.
Thank you!