Saving money can seem overwhelming, but small, consistent changes can add up quickly. From creating a budget to cutting down unnecessary expenses, here are 26 actionable tips to help you take control of your finances.

Start Budgeting to Save More

1. Make a Budget
   Understanding where your money goes is key to saving. Start by comparing your income to your expenses and prioritize what matters most. You can use a free budget template or just write it down on paper.

At NerdWallet, we recommend the 50/30/20 rule: 50% of your income goes to needs, 30% to wants, and 20% to savings or debt payments. Use our budget calculator to help you stay on track.

2. Set Realistic Savings Goals
   Having clear savings goals can keep you motivated. For instance, aim to save $5,000 this year for retirement or pay off a credit card debt. A savings calculator can help you figure out how much you need to set aside each month to hit your goal.
3. Track Your Spending
   Keep an eye on your cash flow—your income minus expenses. Use apps like NerdWallet or YNAB to monitor your spending and adjust as needed to stay aligned with your goals.
4. Save Your Spare Change
   At the end of each day, set aside loose change or small bills. Over time, this can add up and be deposited into your savings. Using cash instead of credit cards can also help you stay more mindful of your spending.
5. Use a High-Yield Savings Account
   Put your savings to work by keeping them in a high-yield savings account. These accounts often offer better interest rates than traditional savings accounts, helping your money grow faster.
6. Automate Your Savings
   Set up automatic transfers from your checking account to your savings account. You can even direct part of your paycheck into savings. This makes it easier to save consistently and stay on track with your goals.

Manage Debt to Save on Interest

7. Pay Off High-Interest Debt
   Debt can weigh heavily on your finances. Focus on paying off high-interest loans first, and if possible, make extra payments to reduce the total interest you’ll pay over time.
8. Lower Student Loan Payments
   For those with student loans, consider options like income-driven repayment plans or refinancing for a lower interest rate. Enrolling in autopay can also lower your payments and save on interest.
9. Refinance Your Mortgage
   If interest rates have dropped, refinancing your mortgage can significantly reduce your monthly payments. Be sure to factor in closing costs to see if refinancing makes sense for your situation.

Reduce Monthly Bills

10. Plan Grocery Shopping
    Prepare before heading to the store. Make a list and stick to it to avoid impulse purchases. Use coupons and join loyalty programs to save even more.
11. Bundle Cable and Internet Services
    Consolidate your cable and internet plans to save money. Downsizing your cable package or cutting it entirely can also help lower monthly costs.
12. Switch to a Cheaper Cell Phone Plan
    Review your current plan and compare options to see if a cheaper one meets your needs. Prepaid plans or family bundles often offer great savings.
13. Lower Your Electricity Bill
    Save on energy costs by sealing insulation leaks, using energy-efficient appliances, and installing a smart thermostat. Small changes, like turning off unused lights, can also add up.
14. Cancel Unused Subscriptions
    Review your bank or credit card statements to identify subscriptions you no longer use. Cancel them to save money every month.

Save on Shopping

15. Time Big Purchases
    Wait for annual sales to buy expensive items like electronics or appliances. Use price-tracking tools like Camelcamelcamel to ensure you’re getting the best deal.
16. Delay Purchases with the 30-Day Rule
    Avoid impulse buying by waiting 30 days before making a purchase. Often, you’ll realize you don’t need the item after all.
17. Cut Down on Online Shopping
    Remove saved payment information from shopping websites to make it harder to buy on a whim. Deleting shopping apps from your phone can also reduce temptations.
18. Buy Household Supplies in Bulk
    Stock up on items like soap, paper towels, and toiletries when they’re on sale. Buying in bulk can save you money in the long run.
19. Shop Secondhand
    Consignment and thrift stores are great places to find affordable clothing and household items. Compare prices to make sure you’re getting a good deal.
20. Give Thoughtful, Low-Cost Gifts
    Instead of spending a lot on gifts, consider making something meaningful like baked goods or a homemade craft. You can also give the gift of time or plan inexpensive outings.

Spend Less on Transportation

21. Reduce Car Expenses
    Refinance your auto loan or shop for cheaper car insurance. Keeping up with regular maintenance and driving efficiently can also lower costs.
22. Save on Gas
    Use apps to find the cheapest gas nearby, and try to combine errands to save on fuel.
23. Consider Car-Sharing Services
    If you don’t drive often, car-sharing services like Turo or Getaround may be more cost-effective than owning a car.

Find Budget-Friendly Entertainment

24. Cut Back on Eating Out
    Cooking at home is usually cheaper than dining out. If you do eat out, look for discounts or share meals to save money.
25. Enjoy Free Entertainment
    Take advantage of free days at museums, community events, and outdoor activities. Look for discounts for seniors, students, or military members.
26. Plan Local Outings
    Check out free or low-cost community events, like festivals or library programs. For outdoor activities, pack snacks to avoid extra expenses.

With these tips, you can start saving money right away while still enjoying your life. It’s all about making mindful choices and sticking to your financial goals.