21 Genius Money Saving Life Hacks To Save Thousands

21 Genius Money Saving Life Hacks To Save Thousands

McKinzie Bean
McKinzie Bean
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Don’t you love the idea of setting aside some of your hard-earned cash? Perhaps save money for the rainy days or use it to buy a cool gadget or go on a vacation. But the reality is frugality can sometimes be very difficult. If you’re looking to cut back on your spending, we offer you genius money saving life hacks.

Are You Looking for Genius Money Saving Life Hacks?Saving is good. With spare cash on hand, you can live a relatively stress-free financial life. The money you set aside gives you a safety net in the event of an emergency, out-of-pocket spending.

Planning to get new parts for the car? Need to undergo an urgent medical procedure? You can use the money you set aside without going into debt for these necessary expenditures.

Another crucial consideration why saving is good is for the children’s education. Every year, the cost of private and public education is rising, and it can be difficult to cope with the increasing demands without a financial cushion.

As you grow older, you also need to make provisions for a comfortable and stress-free retirement. Living without money is difficult, and it’s even more difficult when you’re older and job prospects are very limited. With enough savings, you can retire worry-free financially.

Essentially, the takeaway here is that without money you open yourself up to many risks. There is the possibility of going into debt or being unable to afford certain conveniences and necessities in life.

Do you need money saving life hacks? In this article, we offer practical tips to help you stop your spending urge and set aside cash for future use.

Genius Money Saving Life Hacks

Are You Looking for Genius Money Saving Life Hacks?We can’t tell the future. But it’s good to prepare for the unforeseen or the inevitable. So in these trying times, it is important to be financially secure.

Saving is one thing, but scrimping is another. We don’t know about you, but we prefer to enjoy the money we have than worrying about where each penny went.

We’re not suggesting you go into the extreme. What we offer you are tips to help you set aside extra dough without getting to the point where you will be unwilling to spend. It’s a delicate balance, but it’s doable.

For this article, we scoured the online resources not only for the best money saving life hacks but also for the practical ones. These tips can help you save hundreds of dollars every year without requiring a change of lifestyle.

Check out these genius life hacks to save money.

1. Put the envelopes at home to good use.

Looking for a clever way to save money? Do you have envelopes in the house? Put them to good use.

Here’s what you need to know about the cash envelope system.

Create a budget by listing down all the necessary expenses that you have for the month. Assign an envelope for each expenditure by making the corresponding markings; e.g., groceries, rent or house payment, utilities, car maintenance, etc. Your last envelope should be for your cash savings.

Allocate a certain amount for each expenditure and place it in the corresponding envelope. Once you’ve used up the money in that envelope, you can’t spend more in that category for the month.

The cash envelope system is a great way to reinforce money discipline while keeping an eye on your expenditures.

2. Keep a journal of your expenses.

One easy way to help you cut your bad spending habit is to write down every cash outflow. It lets you see how much you’ve spent.

After a given period, let’s say one week, you can review the items you’ve spent on. This lets you assess all your expenditures and see what are the necessary expenses and which ones are not needed.

With a journal, you can get your finances in order. You can organize your budget and help you reach your financial goals.

3. Make savings a priority.

Do you spend first then save what’s left of your money? A lot of people do this only to realize there is nothing left to set aside at the end of the month.

If you’re looking to save only what’s left of your money at month’s end, chances are you will save little or none at all. So here’s what you can do.

Set up an account that’s separate from your usual savings account (or you can use the cash envelope system we mentioned above). The moment you receive your money each month, aim to set aside a certain amount in that account (or envelope).

That way, you won’t have to think about saving. You’ll barely notice it, but your money is growing with each month.

4. Keep the change.

Do you have a lot of spare change around the house? Don’t take them for granted. A dollar won’t be a dollar without a dime. Put them in a jar, and at the end of the year, bring them to the bank.

The best thing about this strategy is that you won’t notice the spare change as you encounter them in your day-to-day life. But it’s a great way to add to your savings.

5. If you want to eat out, do so in a smart way.

Did you know the average family spends around $3,000 every year going out to eat? That’s around $250 a month; money you can spend on other things.

Here’s a money-saving tip: limit eating out. We’re not saying you should stop it entirely. You can still enjoy the experience, but if you want to save extra cash, simply reduce the frequency of dining out.

If you cut your spending on dining out in half, that’s around $1,500 in savings every year. Give it a shot, and see how it works out with your lifestyle.

6. Stick to your grocery list.

Do you write down a list before going to the grocery? Did you know you’re likely to blow your spending through the roof if you don’t stick to a list?

Without a shopping list, you will likely go into impulse spending. You get the urge to buy virtually everything that your eyes fall on. As a result, you end up buying more than what you planned, exceeding your budget allotted for the groceries.

A simply to-buy list will help you stick to the essentials. You avert the impulse buying; thus, cutting the grocery expenditures.

7. Look for supermarkets that sell the cheapest.

On the subject of grocery shopping, do you check out the prices of certain items from other supermarkets? If you’ve noticed, some stores sell cheaper than others. So go around and do your research, and find out which supermarkets offer the lowest rates.

8. Stockpile when items go on sale.

Here’s a great way to save on grocery items: buy in bulk when they’re on sale. When you stockpile on these discounted items, you’ll have enough to last you until the next sale. And what’s great about it is that you don’t have to pay the full price for these items.

You can also shop smarter with coupons. A dollar-savings may seem like a negligible amount, but it can add up to hundreds or even thousands in dollars in a year. Don’t forget to stack on rebates too from Ibotta.

Plus, you can get free stuff when you use coupons or special promos. (Or try one of these ways to get free stuff for your birthday).

9. Don’t buy items on sale just because they’re on sale.

Are You Looking for Genius Money Saving Life Hacks?Do you really need to buy another TV just because it’s on sale? The price may be slashed, and it may look like a great deal for you. Yet despite the seemingly wonderful opportunity presented, you are not actually saving money with that purchase.

What you’re feeling is what’s known as the “fear of missing out.” It’s an emotional response that gives you the urge to not pass up on the offer. This is actually a smart tactic on the part of the retailer.

As tempting as the deals may be, stick to your wits and don’t be drawn into the offer.

When faced with this scenario, ask yourself these questions:

  • Is this something I need to buy for myself?
  • Or if not for me, does anyone in my family or circle of friends need this?
  • Will this item be of use to me in the foreseeable future?
  • Will this item improve or add value to my life?

If you responded in the negative to all these questions, then hold on to your money. You don’t need to buy it.

10. DIY your home.

Did you know you can learn basic home maintenance skills online? Just go to Youtube for a thrifty solution for your household challenges.

Want to come up with a creative way to remove stains? Looking to fix the clogged sink? You’ll see plenty of tutorials for almost anything that you want to know. You can even learn how to create household products from scratch.

Obviously, you’ll need to call on the professionals for any potentially serious problem that requires specialized, expert solutions. Other than that, a quick search on Youtube can fix the issue with little to no cost.

11. Save money on car insurance by avoiding traffic violations.

Yes, car insurance is expensive, but it is a necessity. You’ll appreciate having a good one when you scratch or dent your car or, worse, encounter a road mishap

But car insurance doesn’t have to cost you an arm and a leg. Want to lower your premiums? It’s simple. Try to avoid road accidents or traffic violations.

You might be surprised how premiums vary from one insurance provider to another. So do your research and check out the rates for various companies.

12. Try a “no spend” weekend.

Got plans for the weekend? Try the “no spend” challenge. It is what its name implies. Make an effort to start with even just one day over the weekend (whether it’s on a Saturday or Sunday) then eventually going for both.

With a renewed spending habit over the weekend, you will feel an enormous sense of achievement. Plus, you get to cut your spending.

13. Hide your credit cards.

Want to get rid of your online shopping habit? You can stop the extravagant spending by hiding your credit cards.

When your credit cards are out of your immediate reach, you’ll likely pass on that item on sale. This tip also applies in real life. Walk around with just one credit card, and you’ll minimize your spending.

Are You Looking for Genius Money Saving Life Hacks?Other Money Saving Life Hacks

You really don’t need to turn your life around to save money. You don’t have to feel deprived and miserable. There are smart ways to cut spending and live frugally with ease.

Would you like to sneak more savings? You will love these cheap life hacks. They’re mind-blowingly simple yet can effectively cut your costs and save you a few bucks.

1. Looking to buy airline tickets? Clear your browser first.

Planning to purchase plane tickets?

Here’s a quick hack to avoid the inflated price.

Did you know most airline websites put “cookies” on your computer? It’s their way of keeping track of your activities on their websites. The more frequent your visits on their websites would mean you’re interested in purchasing plane tickets. And you may be likely to pay more.

Want to get around this? It’s easy. Simply clear your browser’s cache to clear the internet cookies. Do this when you’re ready to book your ticket.

2. Got old or unused books? Consider selling them for cash.

Are you a bookworm? You probably have a treasure trove of hard-bounds and soft-backs.

Books can cost money, and if you’re looking to buy new ones, you might want to consider selling your stash for cash. Or perhaps consider a barter or exchange.

3. Buy generic.

Looking for a cheaper alternative to branded items? Have you considered good-quality generic brands? Why spend more on buying virtually the same product? A switch to the unbranded can mean huge potential annual savings.

4. Bring your afternoon snacks.

Do you find yourself frequently going to the vending machine for your snacks? Skip the Cheetos and just make your own. It’s one of the best money saving life hacks; not to mention, a healthier option too.

5. Looking to get together with friends on a Saturday night? Invite them over.

Are you planning to get together with your friends over the weekend? Going out for dinner and drinks is an easy way to mess up your budget.

Here’s a cheaper alternative.

Why don’t you invite them over to your place? Everyone can pitch in for food and drinks. It won’t cost that much, but it’s certainly fun nonetheless.

6. Work out without costly gym membership fees? Try bodyweight exercises.

Want to stay fit and shed the excess pounds? You don’t have to go to the gym and pay for the costly membership fees. Try these practical money saving life hacks.

Running is a great cardio workout that can help trim your waistline. If you have knee problems, you can try walking or swimming; these are low-impact exercises that provide the same cardio benefits.

For your strength and muscle-building routine, try bodyweight exercises. Pull-ups, push-ups, and squats are three of the basic functional workouts.

7. Quit smoking.

Do you smoke? It’s not good for your health, and it’s expensive too. If you’re looking to save your life and a couple of bucks, it’s time to ditch the nasty habit.

8. Start an online freelancing job.

Want to recoup the cost of your internet connection? Try to fit in an online freelancing job during your spare time. You could apply as a freelance writer or a social media manager.

9. Planning to make a big purchase? Observe the 72-hour rule.

Instant gratification is an urge that’s hard to overcome, especially if you’re an impulsive buyer. But if you’re looking to save money, you’ll have to pull all the strings to stop yourself from buying.

Try postponing your planned purchase by observing the 72-hour period. If you wait that long, chances are your urge to buy has waned down, making it easier to fight the temptation.

For even bigger acquisitions like a car, put off your plan for 30 days. If you really want to make that purchase even after a month, then go ahead. But most likely, you will realize that item isn’t as important of a purchase as you initially thought.

10. Go out for lunch but stay home for dinner.

Lunch menus are cheaper than the dinner set. So if you want to eat out with family or friends, make it a lunch date.

11. Slash your subscriptions.

You might want to cancel the subscriptions you don’t use often. Whether it’s your gym membership or your cable TV. Perhaps consider switching to a cheaper subscription for your phone or internet service.

Understand Why You’re Saving

It’s easy to lose steam with your money-saving action plans if you forget why you started in the place. With frugality, it’s easy to feel deprived and miserable. But if you understand why you’re doing it in the first place, you’ll likely stick with these money saving life hacks.

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McKinzie Bean
McKinzie is a mom of two, and a personal finance enthusiast. She loves teaching other moms how to save money, make money, and take control of their financial situation. She has started five profitable businesses and in college, she double-majored in Financial Planning and Psychology. You may have seen her in publications like Forbes, The US Chamber of Commerce, Yahoo Finance, Money.com, The Penny Hoarder, & more.

6 thoughts on “21 Genius Money Saving Life Hacks To Save Thousands”

  1. This post is packed with GOLD!! “Go out for lunch but stay home for dinner” works well with my budget AND my foodie heart…I mean, stomach. Haha! Thank you!

    1. Hey Shanae!

      Thanks so much 🙂 I’m so glad that these tips helped you!

      And I totally agree, I am a sucker for eating out, but my wallet doesn’t like that lol. Lunch prices at a lot of places are MUCH cheaper at a lot of places so it is the best of both worlds!

  2. Nice! i have mostly prefer to use online shopping because they have given a best discount offer in online. some time buy one get one and some time big saving. i really like it thanks for share.

    1. Hey Martin!

      Thanks for your comment. I agree I love online shopping as well. I’ve been able to save a ton of money that way. Plus, I don’t have to spend money on gas driving to the store and I don’t make any unnecessary purchases. Ordering groceries for pickup is great for that last reason alone!

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