Saving money when funds are tight can be challenging, but there are numerous creative strategies to help manage and even grow your finances.
Below are 100 ways to save money when you’re broke:
Food & Groceries
- Buy generic brands.
- Shop at discount stores.
- Purchase items in bulk.
- Use coupons and discount codes.
- Cook at home.
- Plan meals around sales.
- Buy produce in season.
- Limit dining out.
- Freeze leftovers.
- Avoid impulse purchases.
- Drink water instead of sodas and juices.
- Limit alcohol and tobacco purchases.
- Cook at home more often.
- Use loyalty and rewards programs.
- Grow your own food.
- Make your own cleaning supplies.
Housing & Utilities
- Downsize your living space.
- Negotiate rent or mortgage rates.
- Get a roommate.
- Turn off lights when not needed.
- Install energy-efficient bulbs.
- Unplug electronics when not in use.
- Use a programmable thermostat.
- Air-dry clothes.
- Insulate your home.
- Refinance your mortgage.
- Use energy-efficient appliances.
- Repair appliances instead of replacing.
- Walk or bike instead of driving.
- Use public transportation.
- Plan and combine trips.
- Maintain your vehicle regularly.
- Buy a used car.
- Sell your car and use car-sharing services.
- Compare car insurance rates every 12 months.
Entertainment & Leisure
- Cancel streaming services or satellite TV.
- Utilise free entertainment (parks, board games).
- Attend free community events.
- Have a movie night at home instead.
- Visit museums on free days.
- Exercise outdoors or at home.
- Borrow books instead of buying.
- Do DIY projects.
- Host potlucks instead of dining out.
Health & Personal Care
- Buy generic medications.
- Practise preventive care.
- Exercise regularly to avoid health issues.
- Cut your own hair or learn how to do beauty care at home.
- Limit salon and spa visits.
- Purchase beauty products on sale.
- Utilise free or low-cost clinics.
Technology & Communications
- Downgrade your phone plan.
- Use free Wi-Fi.
- Cancel landline service.
- Buy refurbished electronics.
- Sell old gadgets.
- Limit app and software purchases.
Shopping & Clothing
- Shop at thrift stores.
- Buy clothes off-season.
- Repair instead of replacing.
- Limit the purchase of new gadgets.
- Participate in clothing swaps.
- Only buy what you need.
- Avoid fashion trends.
- Buy durable, not disposable.
- Wait for sales events to make big purchases.
- Implement the 30-day rule for non-essential purchases.
Banking & Finance
- Open a high-interest savings account.
- Set up automatic transfers to savings.
- Avoid ATM fees.
- Use cash-back credit cards responsibly.
- Set a budget and stick to it.
- Avoid late fees by paying bills on time.
- Invest in low-cost index funds.
- Set financial goals.
- Learn about personal finance.
- Claim all eligible tax deductions and credits.
- File taxes early to get refunds sooner.
Credit and Loans
- Pay off high-interest debts first.
- Avoid payday loans.
- Consider debt review.
- Negotiate interest rates with creditors.
Education & Career
- Take advantage of free online courses.
- Apply for scholarships and grants.
- Consider apprenticeships or vocational training.
- Network and attend free career events.
- Shop around for best insurance rates.
- Increase deductibles to lower premiums.
- Bundle insurance policies.
- Only buy insurance you need.
- Plan stay-cations instead of vacations.
- Use rideshare apps instead of renting cars.
- Limit spending on eating out and pack a lunch instead.
- Make gifts instead of buying.
- Set spending limits with family and friends.
- Create a budget.
- Track every expense.
- Sell unnecessary belongings.
- Prioritise needs over wants.