We all want to improve our financial stability, security, and well-being. One of the best ways to do this is by saving more money. Having some extra savings can provide a cushion for whatever life throws your way.

However, saving money can seem overwhelming, especially when bills are piling up. Daily expenses, debt, and loans can make it feel like you simply don’t have the means to set anything aside.

But is that really the case?

A common misunderstanding is that you need to put aside a large amount every month to make a difference. When faced with numerous bills, saving may feel out of reach. The truth is, you can start with small steps and build from there. Any amount saved can help improve your financial situation.

Most people think they need to set aside a percentage of their paycheck each month to save. While that can work, there are other, sometimes overlooked, ways to boost your savings.

Saving money doesn’t have to be complicated. If you already have a budget, here are some tips to help you save even more.

Tip 1: Don’t Overlook Rebates and Buying in Bulk

While you may already use coupons and sales to save, are you also taking advantage of rebates? Manufacturers often offer rebates to promote products. Redeeming a rebate is easy; you typically just mail in your receipt or upload an image of it online.

Buying in bulk from warehouse stores can also lower your cost per item. While you might buy more than you need initially, the lower price can add up over time. Items like toothpaste, toilet paper, and non-perishable foods are great to buy in bulk, plus you’ll save on extra trips to the store.

Tip 2: Try the 50-30-20 Rule

Here’s how the 50-30-20 rule works:

Look closely at your monthly income and expenses. Then, allocate 50% of your income toward essentials like rent, utilities, and groceries. Set aside 30% for personal expenses, such as gym memberships or haircuts. Finally, put the remaining 20% into savings. Use this savings for long-term goals, like buying a house or a new car. However, focus on building an emergency fund first.

Tip 3: Use Money-Saving Apps

These days, there’s an app for almost everything, including saving money. Cashback apps, for example, give cash back or gift cards for purchases. You can use these apps for groceries, shopping, travel, gas, and more. It’s easy—just upload a receipt, and the app does the rest.

Budgeting apps are also helpful. Many free or low-cost apps categorize and track your spending, with the option to link your bank account for automation.

Tip 4: Use a List for Grocery Shopping

Have you ever gone to the store only to forget what you actually needed? Maybe you picked up items you already had at home and still forgot essentials, leading to more trips and extra spending.

Without a list (or if you shop while hungry), it’s easy to overspend. Make a list, stick to it, and avoid unnecessary purchases. Most grocery stores offer digital weekly ads, and some have apps that let you make lists.

Tip 5: Try a Weekly Money-Saving Challenge

Make saving fun with a weekly challenge:

For instance, save $1 the first week, $2 the second, and continue adding a dollar each week. By week 52, you’ll save $52 for that week, totaling over $1,000 by year’s end. If you prefer a shorter goal, try a 26-week challenge, which also leads to substantial savings in less time.

Tip 6: Delay a Purchase

We live in a time of instant gratification. Whether it’s social media, streaming, or online shopping, we often seek quick enjoyment.

This mindset can also affect our shopping habits.

Sometimes, we buy impulsively without considering whether we truly need something or if there are better options. One way to counter this is by delaying a purchase. For example, if you find an outfit online but already have plenty of clothes, wait a day before buying. You might realize you don’t actually need it. Plus, some stores offer a discount if you leave items in your cart or join their email list.

Tip 7: Review Your Insurance Plans

Insurance is essential, helping to cover big expenses. However, if you want to save money, consider regularly comparing quotes for things like car or home insurance to find the best fit for your budget and needs.

These are just a few simple ways to start saving money. Financial stability and security come not only from a steady income but also from managing it wisely. Saving money is easier than you think and doesn’t require a lot of time. The effort you put in now can lead to a more comfortable financial future.