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You may think there’s not much you can do about the high cost of groceries. After all, we all have to eat!

But the truth is, there are a number of relatively easy ways to slash your weekly spending on groceries. And, saving at the supermarket doesn’t have to mean skimping on taste, quality, or nutrition.

What follows are 31 simple tricks that can help you shop smarter and spend less every time you hit the supermarket.

Tips for Grocery Shopping on a Budget

1. Making – and Sticking to – a List

Impulse buys can quickly bust your budget. So before going to the supermarket it can be wise to plan out your meals and make a detailed list of all the things you will need, including any household supplies.

At the store, you’ll want to be strict about sticking to the list. Yes, those pineapples look great and they’re on sale, but are they on your list? No? Then you should probably keep walking.

Shopping with a list not only helps save money but can also cut down on food waste — the items that tend to sit idle in the fridge or on the countertop are often the ones that never had an assigned meal to begin with.

2. Eating Before You Go

If you enter a supermarket hungry, there’s no telling what you’ll end up putting into your cart because, since just about everything is going to look good.

Walk into the grocery store with a full stomach, on the other hand, and you might be shocked by how much lower your grocery bill is.

3. Planning for Leftovers

According to a study by Bosch home appliances, the average American tosses $53.81 worth of spoiled food a week from their refrigerator, or $2,798 every year.

One reason that food goes to waste is that it can be difficult to buy the exact amount of food you need to make the meals we’ve planned. This can result in leftover ingredients languishing in the fridge or pantry, and then landing in the trash can.

You can help reduce wasted food (and money) by doubling your recipe and then having leftovers for lunch and/or putting some in the freezer so you’ll have a meal at the ready when you need it.

Recommended: How Much Should I Spend on Groceries a Month?

4. Grocery Shopping Online

Think you’ll be tempted to go off-script if you enter a grocery store? You might want to try online grocery shopping instead. Many local supermarkets offer online ordering, and allow you to choose either curbside pick-up or delivery.

Or, you may want to try one of the many online grocery services, such as Peapod, Instacart, or Amazon Fresh. You can often choose one-off delivery, as well as recurring delivery of staples (like toilet paper) so you never run out.

It can be easier to avoid the temptations when you can type everything you need into a search bar. Plus, shopping online makes it easy to compare brand prices, see what’s on sale, and watch the total tally up in real time.

💡 Quick Tip: Tired of paying pointless bank fees? When you open a bank account online you often avoid excess charges.

5. Developing a Green Thumb

Even if you’re not much of a gardener, you might want to try growing one or two of your favorite vegetables in a container or a small garden area outdoors. You can then step outside and pick your tomato or bell pepper rather than buying them at the store.

If you don’t have any outdoor space, you might consider starting an indoor herb garden. If you have parsley, basil, or cilantro right on your windowsill, you can just pick what you need rather than buy a whole bunch at the market.

6. Sticking to Stores You Know

Having a tried-and-true grocery store may be good for your wallet. Walking into a store you’re familiar with means you already know where to get the items on your list.

Head into an unfamiliar store and you may be left wandering the aisles for what seems like an eternity trying to find your goods.

That’s because grocery stores are set up to be a little confusing and to drive consumers to have to do a bit of wandering, as that’s when you’re more likely to make random purchases.

💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.

7. Bringing Your Own Bags

One quick way to potentially drive down the cost of your grocery store run is to BYOB — bring your own bags. Many cities and states have imposed plastic bag bans. If you show up empty-handed, you’ll be stuck purchasing reusable bags at the checkout.

In areas where plastic bags are allowed, many stores will reward customers who bring reusable bags by reimbursing them about 5 to 10 cents a bag at checkout. BYOBing is also kinder to the environment.

Keeping some reusable bags in your car is a good way to avoid forgetting them at home.

8. Joining Loyalty Programs

Many stores now offer discounts for regular shoppers and even secret sale items only for those who’ve signed up.

It’s typically quick, easy, and free to join, though some stores like Whole Foods require customers to be part of its Amazon Prime membership service (which comes with a yearly fee). Still, it may be worth it as discounts at the register can add up to real savings.

9. Embracing Meatless Mondays

Reducing meat consumption and eating more plant-based meals has benefits for the environment, your waistline, and your wallet.

Chickpeas, black beans, peas, brussel sprouts, quinoa, tofu, along with many other beans, whole grains, and vegetables are all excellent (and inexpensive) sources of protein without the added saturated fat that comes with animal products.

You may want to consider going meatless at least one day a week, and then building up to a few meat-free meals per week.

10. Buying Larger Containers

Buying the largest size of packaged, canned, and frozen foods can sometimes help you save money on food. That’s because some of the cost of every grocery item is in the packaging.

If your grocery store has a “bulk foods” section you might save even more by buying the amount of food you need in plastic bags.

11. Thinking Beyond Fresh Produce

Another way to save money at the grocery store is to buy fruits and vegetables in the frozen or canned foods aisle. The savings can add up, especially when the food is out of season.

If you’re looking to add pineapple to a recipe in the winter, for example, you can save money by opting for canned pineapple over a fresh one that’s not in season. Canned and frozen fruits and vegetables also don’t go bad as quickly as fresh, so they may be less likely to get wasted.

12. Trying a CSA

A Community-Supported Agriculture (CSA) program can help you save money on fresh produce, eggs, and herbs. You can look for one using the USDA’s CSA directory and see if they’ll deliver to your front door.

Not only will you be saving money but you’ll be supporting local farmers and eating food that’s close by helps ensure it’s fresher.

13. Clipping Coupons

While it’s not rocket science, this tried-and-true technique is still one of the best ways to cut your grocery bill. You may want to consider scanning the local circulars that come in the mail to see which stores are having deals on the food items you need that week. You can also look for manufacturers’ coupons (online and in circulars inserted into Sunday newspapers).

When it comes to couponing, however, it’s wise to make sure that you’re only buying items you need and usually buy — otherwise you could end up adding to, not shrinking, your grocery bill.

Recommended: How to Coupon for Beginners

14. Shopping in Season

Another way to spend wisely is to cook and shop seasonally. It’s typically cheaper to buy fruits and vegetables that are in season than ones that have been shipped to the store from a far-away place where it can be grown year-round.

Also, since in-season produce is in large supply, it tends to be sold at affordable prices to maintain demand. In-season produce also tends to be tastier.

15. Using Apps

There are a number of rebate apps you can download onto your phone for free that allow you to get cashback on items you purchased. Options include Ibotta, SnipSnap, Saving Star, Coupon Sherpa, and Checkout 51, and Fetch Rewards.

While rebates don’t give you a discount upfront (like a traditional coupon), you should see savings in the long run.

If you frequently shop at large chains like Walmart or Target for groceries, getting their apps may help you earn rewards and get discounts for being a loyal shopper. You just need to scan your mobile app when you check out.

16. Stocking up on Shelf-Stable Items

When your grocery store is having a sale on canned goods, dried goods, or other pantry items, you may want to consider buying multiples. Items like beans, sauces, soups, nuts, peanut butter, pretzels, shelf-stable snacks like unpopped popcorn won’t expire for a long time.

You’ll be able to enjoy the cost savings and will likely appreciate having them on hand when preparing meals.

17. Buying Store-Brand or Generic

You don’t have to sacrifice flavor and taste in order to save money while grocery shopping. While It’s easy to overlook no-name or store brands, in many cases these items are actually made by the brand name companies, just with a different label.

And the savings can be real. Preparing dinner using generic (rather than brand name) products can save as much as $20 a week — or $80 a month. You can put that extra cash right into your bank account.

18. Shopping the Outside Aisles

The inside aisles of the grocery store are where pricier processed foods are typically stocked, The outer edges, on the other hand, is where you tend to find fresh fruits and vegetables, grains and beans.

Shopping on the edge — and filling your cart with nutrient-dense items and fresh, seasonal food — can help your wallet, as well as your waistline.

Recommended: Examining the Price of Eating at Home vs Eating Out

19. Portioning Food Out Yourself

It can be tempting to buy convenience items where food is pre-portioned into single servings so you can just grab-and-go. Smaller items can also help you keep from overeating. But all of that packaging tends to increase the cost of the item.

If your kids love crackers, you may want to buy a full-size box and portion them out in zip-top bags or reusable containers. You can do the same with other favorite snacks so you won’t be tempted to eat the whole bag in one sitting. You can also spoon yogurt into small containers for school and cut cheese into slices from a block for easy snacks.

💡 Quick Tip: If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.

20. Drinking Tap Water

To avoid spending money on bottled water, you may want to get a filtered pitcher and switch to drinking tap water. By drinking from a reusable water bottle or a glass throughout the day, you’ll also reduce the amount of plastic waste you’re putting into the environment.

Getting your kids used to drinking water instead of juice or soda can also reduce your supermarket bills.

21. Using a Smaller Cart

If you’re not shopping for a full week’s worth of groceries, consider grabbing a small cart or, even better, a hand-held basket. This will automatically limit how much you can buy because only so much will fit.

When you have a smaller cart — or a basket that will get heavy quickly — you’re forcing yourself to ask, “Do I really need this?” every time you pick up something to buy in the store.

22. Minimizing Trips to the Store

One way you can save money on your grocery bill is to only shop when you need to and to minimize the frequency that you set foot in the supermarket door.

The reason is that the less often you’re physically in the store, the less likely you’ll be tempted to buy something you don’t absolutely need. It can be all too common to go to the grocery store for “one thing” and come out with a few items.

23. Shopping Off-Peak

Most of us don’t want to spend our weekends grocery shopping, right? Unfortunately, Saturdays and Sundays are the days when many of us have the time to go to the supermarket — along with everyone else in our town.

Shopping during peak times can hurt your budget in a few ways. You might try to speed through the supermarket and be more likely to buy an item at the end of the aisle because it’s convenient, rather than grab a similar product on the shelf a few feet away. This could mean they are buying a more expensive version of what they need.

You might also run into trouble shopping during peak times because you’re more likely to get stuck in a long line — and become tempted by miscellaneous items stocked near and along the checkout line.

24. Calculating the Bill While You Shop

Shopping with a calculator or getting out your phone and adding things up as you put them in your cart can help you stick to your spending plan. (If you’re shopping with kids, you can give them the job to tally what’s in the cart.)

By keeping a running tally of how much money is in your cart, you can save yourself from any unpleasant surprises during check-out. Plus, it can make you think twice before putting any extras in your cart.

25. Shopping Your Pantry First

It’s easy to accidentally buy an extra item at the supermarket that you didn’t realize you already had stored at home. That’s why after you write your grocery list, it can be a good idea to double-check pantry shelves, spice racks, the fridge, and the freezer to make sure you truly need what’s on your list.

You may even want to shop your pantry and fridge before making your meal plan and shopping list to see if you can think of meals that incorporate foods you already have on hand.

26. Paying with Cash

A simple trick for lowering your grocery bill is to set your budget and then only bring that much money in cash, leaving the plastic at home.

This will help ensure that you stick to your list and avoid grabbing any tempting extras. You can only spend what you have in your wallet. Full stop.

Recommended: Envelope Budgeting Method

27. Making Breakfast for Dinner

Eggs are one of the most affordable protein sources out there. By making simple breakfast-style food for dinner, you’re offering your family a fun meal and using up some of your (affordable) breakfast foods.

You might consider making an omelet or frittata with eggs, cheese, and leftover vegetables, whipping up blueberry pancakes, or creating a bacon, egg, and cheese burrito. Not only are many breakfast recipes a delicious dinner option, but they’re affordable and often quick to prepare.

28. Avoiding Eye-Level Items

Grocery stores are designed to get you to spend more money, which is why the most expensive products tend to be stocked at eye level. Brands often pay more money for their products to be displayed prominently so you’re more likely to buy them.

Searching high and low when you’re shopping may yield significant savings. Once you start looking, you may even notice a price differential between the eye-level item cost and the one at your feet.

Recommended: How to Stop Spending Money

29. Baking Your Own Treats

Many impulse buys happen in the bakery and snack sections of the supermarket. Before you succumb, you may want to ask yourself if you could bake it at home. You may already have the baking basics on your pantry shelves and could whip up some muffin or cookies fairly quickly. Or, you might want to buy a mix to save time (you’ll still save money).

Before buying chips and snacks, you may also want to consider if there is a more affordable DIY option, like buying popcorn kernels to cook on the stove.

Asking yourself, “Can I make this?” will likely result in saving money and getting the freshest item possible. This way, you can reward yourself without breaking your budget.

30. Hitting the Store on a Wednesday

When it comes to snagging good deals, shopping on a Wednesday may be beneficial. That’s because grocery stores tend to restock their shelves and make new mark-downs in the middle of the week. Since they’re in the process of changing the discounts, they may still honor the price cuts from last week’s sale as well as the new ones.

31. Doing the Prep Work Yourself

Those packaged baby carrots and bagged pre-washed salads make it easier to eat healthier, but if you’re willing to do the cleaning, prepping and chopping of fresh produce, and even meats and poultry, you can save money.

A boneless, skinless chicken breast package will cost more than buying a whole chicken. You’re paying for the convenience. By setting aside time to prep and chop your foods after you get home from grocery shopping, you’ll likely reap savings.

The Takeaway

A little planning and knowing some money-saving tricks can help you lower your monthly grocery bill and stick to your budget.

By following these budget shopping tips, you may find that you have more money left over each month to pay down debt, invest for the future, or save for something fun.

Better banking is here with up to 4.20% APY on SoFi Checking and Savings.

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SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 1.20% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
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Having roommates can be a great way to reduce your monthly living expenses. It can also mean living in a bigger apartment or a nicer area than you could otherwise afford.

But negotiating finances with friends (or strangers) also comes with potential pitfalls, especially if you have roommates who don’t always pay what they owe, when they owe it.

Luckily, whether you already won the roommate lottery or are just trying to make the best of living with someone you barely know, figuring out how to share roommate expenses doesn’t have to be hard.

What follows are tips for splitting expenses with roommates so that everyone feels like things are fair in your household.

Managing Money With Roommates

These 25 strategies can help ensure that monthly expenses get divvied up fairly — and everyone is on the same page from the moment you first move in together.

1. Making Decisions Together

Whether you and a friend are moving in together for the first time or you already live together and you’re bringing in someone new, it can be helpful if you decide as a group how you’re going to handle finances. You might consider having a meeting right away to establish how you’ll be splitting costs.

2. Making a List of What You Both Own

Before moving in together, you and your roommates may want to make a list of what you both already own and can bring to the apartment for communal use. For example, if your roommate has a stand mixer and you have a nice collection of baking pans, that can be a useful combination. If you can contribute a couch, your roommate might be able to find a kitchen table.

3. Figuring Out How You’ll Split Monthly Expenses

Many roommates find that part of sharing a household might mean sharing more than just rent and utility bills. You may want to consider sitting down with your roomies to figure out what monthly expenses beyond rent and utilities will be shared and how you will split up these costs. This may include cable, wifi, and any subscription services like video streaming.

4. Splitting Costs Evenly…

Since it can be difficult to determine who used a certain amount of electricity or watched the most Netflix, it could make sense to simply split costs down the middle (or evenly among roommates). That can save a lot of time and energy and could be the most fair arrangement.

5. …Or Splitting By Percentage of Use

If you or your roommate uses certain utilities or services significantly more than other members of the household, you might want to consider splitting by percentage of use. For instance, perhaps your roommate is a photographer and is always plugging in lights to take photos, and maybe you’re only home four days a week. A percentage is more complicated, but could be more fair.

Recommended: Strategies to Lower Your Energy Bill When Working From Home

6. Deciding Who Will Pay the Bills

To streamline bill paying (and make sure no bills end up falling through the cracks), it can be wise to put one person in charge of actually paying the bills. You may want to designate that person from the get-go, and then everyone else can send this person the money before the bills are due every month.

7. Keeping a Written Document of Expenses

Whether you split each cost evenly, or by a percentage of use, it can make sense to write down each person’s share of expenses and what they can roughly expect to pay each month — so no one is blindsided when it comes time to pay the bills.

💡 Quick Tip: Help your money earn more money! Opening a high-yield bank account online often gets you higher-than-average rates.

8. Figuring Out How to Divide Household Supplies

Once you have the details of the non-negotiable bills nailed down, you may want to next look at how you want to manage the cost of household supplies.

For example, while some roommates don’t mind toting their own roll of toilet paper into the bathroom, many find that it is easier and more economical to split the cost of a bulk package.

9. Deciding Whether to Share Groceries

Even if you have different tastes in food and purchase the most of your groceries separately, you may find that sharing basics, like gallons of milk, coffee, and juice, even bags of rice or quinoa, may be more economical. If you cook meals together, you may want to go in on even more weekly groceries to help save money on food.

10. Keeping Some Purchases Separate

Just because you plan to share a couch doesn’t mean you need to share the bill. While it may seem sensible to split the cost of furnishings and electronics for your rental, you may also want to consider what will happen when your lease is up.

Unless you and your roommates plan on selling everything when the time comes to move out (and splitting the proceeds), paying for things separately can make things simpler in the end.

Recommended: 25 Tips for Buying Furniture on a Budget

11. Establishing a Budget

If you and your roommate have agreed to buy groceries or other items together, you may also want to discuss a monthly budget before you start making household purchases.

You might be fine with generic toilet paper, while your roommate wants to spring for the expensive name-brand stuff. Getting on the same page about how much you’ll spend each month on communal items can help avoid money squabbles later.

💡 Quick Tip: If you’re creating a budget, try the 50/30/20 budget rule. Allocate 50% of your after-tax income to the “needs” of life, like living expenses and debt. Spend 30% on wants, and then save the remaining 20% towards saving for your long-term goals.

12. Finding an Easy Way to Track Expenses

You might give one roommate the responsibility for keeping track of your expenses and how much each roommate owes, as well as logging who paid what and when. They could do this on a spreadsheet or through an app. That way, each person will know exactly how much they owe, as well as what they’ve already paid.

13. Deciding How You Will Pay Each Other

Gone are the days of writing checks or going to the ATM to reimburse roommates for rent and other expenses. With all the peer-to-peer money transfer options now available, you can quickly and easily pay each other without cash.

You may want to sit down with your roommates and decide which app you’re going to utilize, make sure everyone has it downloaded to their phones, and then use it to reimburse each other.

14. Drafting a Roommate Agreement

When you first move in with a roommate, or when another roommate is moving in, you might want to create a roommate agreement that is separate from the rental contract you have with your landlord.

The agreement could spell out all the financials, such as how you will split costs, as well as some basic ground rules, such as parking and having guests over.

15. Setting Consequences for Failure to Pay Your Share

Nobody wants to be the bad guy, but if a roommate isn’t paying their share of expenses, you may want to make sure that there are some consequences.

For instance, you could agree (and even include this in your “roommate agreement”) that if a roommate doesn’t pay the bills on time once, they would take on all the household chores until they can pay, and if they fail to pay a second time, they would need to to leave the rental.

16. Making Late Payers Cover Late Fees

You may want to make it clear that If one roommate is late with their payment and, as a result, triggers a late fee or penalty, then that person would be responsible for paying those additional charges. (You may also want to make this rule clear in your “roommate agreement.”)

Recommended: How Long Do Late Payments Stay On a Credit Report?

17. Discussing Responsibility for Damage

It can be a good idea to also discuss who will be responsible for covering the cost of any unexpected expenses, such as damage to your rental.

You might agree (and put in your agreement), for example, that whoever is responsible for any damages must pay for them. That way, if your roommate’s dog chews up the door frame, it would be up to them to pay for the repairs.

18. Splitting the Security Deposit

It often makes sense to have all the roommates contribute to the security deposit. That way, they will all be equally invested in keeping the place nice so that they get their portion of it back upon moving out.

19. Sharing Expenses for Get-Togethers

Get-togethers like BBQs and Super Bowl parties can be great bonding experiences for roommates and their friends. When having one of these events, all the roommates can chip in so that the celebration is fun, as well as affordable.

💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.

20. Having Monthly Meetings

Roommates that don’t communicate effectively can become resentful and end up disliking each other. By having monthly meetings to discuss finances and other issues, everyone has a chance to air their grievances and figure out solutions for problems going forward.

21. Avoiding Passive-Aggressive Notes

It can be tough to live with roommates and deal with all their quirks, especially when it comes to money. But even if someone is late paying a bill or otherwise not doing their fair share, posting notes can end up creating hostility.

You may be able to resolve the situation more effectively by being direct and honest with each other either in a one-on-one or monthly roommate meeting.

22. Not Laying Out Money for Bills Until Everyone Has Given Their Portion

If you are responsible for paying the bills, you may find that it’s easier to pay them with your money and then collect from your roommates later. However, this can put you in a bad position if your roommates take their time in paying you back.

Instead, you might want to set a rule that you will only pay the bills once your roommates have given you their share.

23. Discussing Ways to Save Money

If utility bills or other shared expenses are on the high side, you may want to sit down with your roommates and talk about some ways to cut expenses and save money. You might decide, for example, to invest in energy-saving light bulbs you can turn off using an app or get rid of one or two streaming services.

24. Finding Coupons Together

You can make saving money a group activity with your roommates. Every week, before you go shopping, you can all look for coupons to use at the store on sites like Coupons.com and SmartSource.

25. Choosing Responsible Roommates

When vetting potential roommates, it can be helpful to discuss some of the expense-sharing ideas listed here. If they are open and amenable to sharing expenses equitably, you should have very few issues when it comes to splitting costs.

You may also want to make sure any potential roomies have a steady income, good referrals, and a solid credit score, as this can indicate they tend to be responsible with money.

The Takeaway

While roommates come with many benefits, sharing a space — and expenses — with other people isn’t always easy.

Being open about finances and setting some ground rules from the get-go, however, can help ensure that everyone contributes their fair share and all your bills get paid on time.

Using technology and smart money management resources can also make it easier to track and share expenses with your roommates.

Better banking is here with up to 4.20% APY on SoFi Checking and Savings.

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SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 1.20% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
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Many people want to get better about budgeting but don’t know where to begin. Some people will like using apps, others the envelope method, but others may find that a basic online spreadsheet is the best way to keep track of the money coming in and going out.

Here, you’ll learn how to easily do that last option using Microsoft’s Excel spreadsheet program. It has some impressive features that can make it user-friendly and efficient as you budget. It can help you manage your money and hit those financial goals.

Step 1: Opening a Workbook and Creating the First Month

To begin creating a budget, the user will open a fresh Workbook in Excel by hitting File > New > Blank Workbook. Before diving into building the perfect budget, they need to save this file somewhere safe. After completing the first draft, it may be worth it to back it up on a USB drive or on a cloud-based platform. After saving the file, they’ll move on to building out the budget.

One way to keep track of this monthly budget, and review past months’ spending and saving progress is to create a tab for each month of the year. For extra convenience, the budgeter could consider beginning by creating a “template” tab to build the initial budget in and then copy it over each month and edit it as needed.

💡 Quick Tip: If you’re saving for a short-term goal — whether it’s a vacation, a wedding, or the down payment on a house — consider opening a high-yield savings account. The higher APY that you’ll earn will help your money grow faster, but the funds stay liquid, so they are easy to access when you reach your goal.

Step 2: Adding Income

Before creating a spending budget, the user will start by looking at expected income for the month. Doing so makes it easier to formulate a budget that is realistic, making them more likely to stick to it. To begin building the proper formulas to help calculate income, the user will take the following steps:

Select cells A3-A11 (if more space is necessary later on, expand this selection past A11) and hit “Merge and Center.” Then write the word “income” and center it.

Merge the cells B3 and C3. Label these cells as “Source” which will show where the income is coming from. Some may have consistent income sources such as “Paycheck 1” and “Paycheck 2.” Others may have more sources they need to track “Side Hustle Income” or “Unexpected Income.” After choosing income sources and properly labeling them, merge every row from B and C through row 11 or whatever the chosen stopping point is.

While not necessary, one can label cell D3 “Date” which is where the budgeter can track which day they received a type of income. If they have predictable sources of income, this option may not be worthwhile, but for those with flexible incomes (say, seasonal workers who earn an hourly rate or entrepreneurs), it can help them stick to a budget and follow up on missing payments.

For the final step of the income section of the budget, which is more of a benefit to those with varying monthly income, label section E3 as “Planned” to identify what the originally planned income is. Then label F3 as “Earned” to identify how much money was in fact earned from each labeled source of income. For G3, label it “Difference.” This cell will automatically calculate the difference between the expected income and the income actually earned after adding the proper formula.

To create the formula needed to automatically track the difference between expected and earned income, add the formula “=SUM(F4-E4)” after every row it should apply to. Then replace the F4 and E4 with the cells that correspond to the “Earned” and “Planned” income sections.

💡 Quick Tip: When you overdraft your checking account, you’ll likely pay a non-sufficient fund fee of, say, $35. Look into linking a savings account to your checking account as a backup to avoid that, or shop around for a bank that doesn’t charge you for overdrafting.

Step 3: Adding Expenses

After wrapping up the income section of this project, the budgeter can start planning what their typical monthly expenses may look like. (Make sure to add those commonly forgotten expenses, too.) They can do this on the same tab that they calculated their income in or they can create a separate tab. How they organize their budget is totally their call!

They’ll use the same format for building out expenses as they did with their income (although if they choose to continue working in their original sheet, they’ll need to adjust the row letter and column number accordingly) and will name this section of the budget “Expenses.” Using the same labels from the income section is fine, as is creating new ones.

They’ll only have to make one major change to this process, which is to use a different formula for the “Difference” column. In order to best calculate expenses, they can use the following formula: “=SUM(Planned Number-Actual Number)” which will calculate how much they overspent.

When creating spending sources, instead of income sources, they can make as many or as few as they’d like. For example, someone may want to make one row that represents all utilities or they may want to designate a row for every single utility they pay. Another budgeter may want to budget for overarching categories such as living, automobile, entertainment, food, travel, and savings. It really depends how detailed someone wants to get about their budgeting.

For those drawn to a more detailed budget, they can create multiple sections for their expenses, they don’t have to be all lumped together. It’s fine to repeat this process again and again to create more detailed categories such as basic living expenses or business expenses.

Recommended: 15 Causes of Overspending

Step 4: Adding Some Goals

For those who want to expand their budgets past basic incomes and expenses, they can repeat the process used to create the income section of the budget and make some more specific savings goals.

One way would be to create a category that tracks how much they hope to save that month in general, another would be to break it down by savings category. Similar to expense sources, it’s possible to break goals down into separate sections, such as one that provides a more detailed look at saving for retirement or tracks a big expense they’re saving for, such as a down payment on a home or a wedding.

Using the same basic formulas for tracking expected income and how much income is actually earned in a month, the user can track what they hope to save and how much they actually do end up saving.

💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.

Step 5: Customizing a Premade Template

If someone’s not interested in learning how to create a budget in Excel from scratch, they can use a premade budgeting template provided by Excel or one of the many free or for-purchase options that are available online.

Even when using a premade template, it can be helpful to review the tips for creating an Excel budget from scratch shared above, as they may allow the budgeter to customize the template to their needs.

At the end of the day, creating a template from scratch will allow the user to truly customize it to their needs, especially if they follow a particular budgeting method. That being said, a template can save a lot of time, especially for those who aren’t comfortable using Excel.

Step 6: How to Track Spending and Stick to a Budget

For those who have been hard at work creating their Excel budgets, it’s time to take advantage of that budget. It seems unlikely that anyone wants their Excel efforts going to waste, so one might want to make a budgeting check-in plan that they can easily stick with.

At the end or beginning of every month, it is a good idea to sit down and review if one went over or under last month’s budget, as well as take some time to build out the new month’s budget. That may involve simply copying over the template created earlier or the user might need to make a few tweaks based on how much they earned and spent last month.

As tempting as it can be to set it and forget it, the budgeter should try to check in on their budget more than once a month. Setting a quick weekly check-in date with their budget will allow them to update how much they’ve earned and spent so far during the month. That way, they’ll know if they need to scale back on spending in a certain category or if they can relax in another category.

While it takes a decent amount of self discipline and motivation to stick to a budget, awareness can be the first step in staying on track. By checking in with their budget frequently, savvy planners will remember their short-term goals and longer-term ones and hopefully will be a little extra motivated to meet them.

The Takeaway

There are many effective budgeting tools, and using an Excel spreadsheet can be one of them. It can allow you to track your income and your spending and saving, while making updates in real time. This can help you manage your finances and contribute to meeting your financial goals.

Better banking is here with up to 4.20% APY on SoFi Checking and Savings.

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SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 1.20% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
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From hiring a video arcade on wheels to treating 10 little princesses to a spa day, today’s birthday parties have gone next level. You could easily drop $500-plus on your kid’s next shindig.

Fortunately, you don’t have to. It’s possible to host a fun and memorable birthday celebration for friends and family without breaking the bank.

Here are some inexpensive party ideas to consider when planning your next birthday bash.

1. Being Selective with the Guest List

As tempting as it might be to invite everyone in your child’s class or the whole soccer team, limiting the guest count is a simple way to save money on a birthday party.

Less people means less food, less party supplies, and fewer favors — but not necessarily less fun. It’s possible to have a close knit vibe at a birthday party that gets people talking to each other and enjoying themselves even more than they would have at a big event.

If your child is willing to invite only one or two friends, you might consider skipping a party altogether and opting for an experience. Going bowling or spending a couple of hours at a play space, zoo, or museum can suddenly become an affordable option.

2. Sharing the Party with a Friend

If your child’s birthday falls around the same time as one of their close friends, you might want to consider teaming up and having a dual birthday party.

This enables you to share the costs and responsibilities with another family and, if the kids have a similar friend group, it would not necessarily have to be a much larger party. It can be a good idea, however, to make sure each child gets their own cake and presents.

Recommended: 27 Cheap Date Night Ideas

3. Choosing a Cheap (or Free) Venue

While hosting a party at a local climbing gym or other entertainment venue can be appealing, you can end up dropping as much as $350 just for the space.

One way to throw a birthday party on a tight budget is to have the party at home. That said, the wear and tear on your floors and furnishings might not be worth the savings. In good weather, however, a backyard party can be a great, low-cost option. Or, you might consider having the party in a local park or garden.

If your child’s birthday lands in a cold weather season, you can save money on a venue by limiting the guest list and going with the most basic package (such as just food and drinks for each child), and providing your own cake and goody bags. You can also check deal websites for discounts and promotions or ask the venue about a discount for having the party at an off-peak time or day.

Recommended: 10 Tips for Spending Your Money Wisely

4. Sending Digital Invites

Skipping the paper and going with digital invitations can be kinder to the environment and also cut down on birthday party costs, since you won’t have to buy premade invites or stamps.

You can design your own digital invitation and send them via email or text, or you may want to take advantage of one of the many online (and free) e-invitation sites.

Recommended: 15 Creative Ways to Save Money

💡 Quick Tip: Tired of paying pointless bank fees? When you open a bank account online you often avoid excess charges.

5. Getting Creative With Decorations

One of the best things about the internet is that somebody’s probably already created precisely what you need. Rather than drop a chunk of money at the party store on themed decor, you may want to check out Pinterest for free printables.

You can also find ideas for DIY decorations on Pinterest (along with many other sites) using low cost supplies, possibly even things you already have on hand. Dollar stores can also be great places to shop for decorations and supplies.

If you do hit the party store, you may want to consider going with just one or two premium themed items and keeping the rest of the decor colorful and fun.

Recommended: How to Have a Baby Shower on a Budget

6. Making a Semi-Homemade Birthday Cake

A custom bakery cake that serves just 15 to 25 people can run over $50, while a cake large enough for over 35 guests can easily run more than $70.

A cheaper option is to buy a cake mix, then make it look and taste homemade with a few simple baking hacks, such as swapping butter for oil and milk for water, adding an extra egg, and making your own buttercream frosting.

To make cupcakes that look like they came from a bakery, you can pipe icing on top using a ziplock bag with a tiny hole snipped in the corner.

7. Timing the Party Right

If the party takes place during lunch or dinner time, there’s a good chance people will expect to be fed a meal.

Choosing an off-time to celebrate — such as 10:30am or 2:30pm — means you can steer the party away from heartier, and costly, fare (like freshly delivered pizzas or a sandwich platter) and stick to serving finger foods and snacks instead.

Recommended: How to Save Money on a Disney World Vacation

8. Buying in Bulk for Gift Bags

If you’ll be giving each guest a swag bag, consider buying toys and trinkets in bulk sets and then dividing them up. This can be a real cost-saver when compared to purchasing items individually (even at the dollar store).

Fun items like paper airplanes, wooden yoyos, squishy toys, stampers, fidget spinners and Slinkys can often be purchased in packs at stores as well as online.

💡 Quick Tip: When you feel the urge to buy something that isn’t in your budget, try the 30-day rule. Make a note of the item in your calendar for 30 days into the future. When the date rolls around, there’s a good chance the “gotta have it” feeling will have subsided.

9. Playing Some Free Games

You don’t necessarily have to rent a bouncy house or hire live entertainment to keep a birthday party lively and fun. There are a number of inexpensive ways to make sure there is plenty of action, activity, and laughter. Here are a few fun, free games you might consider:

•   Duck Duck Goose

•   Charades

•   Musical Chairs

•   Red Rover

•   Rock Paper Scissor Tournaments

•   Three Legged Races

•   Marco Polo (you can even play on land)

•   Hot Potato

•   Simon Says

The Takeaway

It can be tempting — and easy — to spend a lot creating a memorable birthday party. But with just a few cost-cutting strategies, such as trimming your guestlist, shifting the time of the party, choosing an inexpensive venue, and organizing some free games, you can throw a festive birthday bash without breaking the bank.

You can also make birthday celebrations more affordable by setting a budget and saving up in advance.

Better banking is here with up to 4.20% APY on SoFi Checking and Savings.

---

SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 1.20% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
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Sure, there are lots of ways to get rid of your unwanted but still usable stuff. You could sell it online, haul it to a consignment shop…or maybe you’d just rather hold a garage or stoop sale and let people pay on the spot and walk away with their purchases.

No shipping, no schlepping, just a good old-fashioned transaction. You pick what you want to sell, you spruce it up, price it, publicize it, and then set up for your sale and staff it.

Whether you call it a “garage sale,” “yard sale,” or “tag sale,” you can boost the odds of success at an outdoor sale by following these tips and tactics.

1. Planning Your Garage Sale In Advance

Is it possible to pull together everything you need in a couple of days and hold a decent garage sale? Maybe. But your chances of success are likely to improve substantially if you put in some time planning your event.

Here are some things to consider ahead of time:

Knowing Your Goals

You’re probably hoping to make a profit and clear out some clutter. But knowing your top priority could help as you choose which items in your home you’re willing to part with and how you’ll price those goods.

Researching the Rules

Before you organize a sale, it’s a wise idea to check out how they’re handled in your community.

Some cities and counties require citizens who want to hold a garage sale to obtain a permit online or in person. There may or may not be a fee involved, but, either way, you could face a fine if a permit is required and you fail to get one.

There also may be limits on how early the sale can start, how late it can go, how many days it can last, the number of signs you can post, as well as the type of merchandise you can sell.

If you belong to a homeowners association (HOA), you might have to seek permission there as well. Some HOAs may allow only one or two neighborhood-wide sales a year (especially if you live in a community with a gate that would have to remain open all day).

2. Setting Your Garage Sale Date

Once you know you’re able to have a sale, you can set a date and get the necessary permits.

Even if your schedule is pretty flexible, you may want to keep a few things in mind when you’re looking at your calendar:

•   Consider choosing a day that falls just after a common payday (the first or the 15th of the month).

•   You may want to avoid holding a sale on a holiday weekend, when many people will be away or have other plans.

•   The most popular sale days are Fridays, Saturdays, and Sundays because most people are off from work. Keep in mind, though, that many families have activities or church on those days, so you may want to start early and end in the afternoon to attract the most shoppers. Or you could choose a weekday to avoid the weekend competition.

•   You may want to hold a two-day sale and use the second day as an “everything must go” event.

•   Mother Nature might not cooperate no matter when you hold your sale. Still, you can improve your chances of having better weather if you consider the season (not too hot, not too cold, not too rainy, not too windy) in your planning.

3. Stockpiling Garage Sale Items

A good strategy is to move through each room of your house (the attic, basement, garage, and sheds, too), and start boxing up items you might want to sell.

You might want to make a list of larger items you don’t want to move until you’re closer to the actual sale date, such as old furniture, artwork, or exercise equipment.

Kids who are reluctant to part with old toys, bikes, or sports equipment might be more willing if you offer to cut them in on the action. Consider negotiating a percentage of the profits, or offering to replace all the gently used toys they sell with one new one.

If you aren’t sure you have enough to grab shoppers’ interest on your own, you can ask friends and neighbors if they want to join in, or offer to sell their items on consignment.

4. Going All in With Publicity

It’s probably not the best idea to count on word of mouth to bring bargain hunters to your door. Consider advertising your garage sale at least a week in advance — and tempting shoppers with a list of desirable items.

Some places to consider publicizing your sale:

Newspapers

You may want to list your garage sale in the old-school print classifieds. You could see if your local newspaper charges a reasonable rate (and get a digital ad while you’re at it). You may want to keep the wording tight — you’ll likely pay more if you go over a pre-set maximum word count.

Online

You can typically advertise your sale for free on a growing number of websites, such as Facebook
Marketplace , Garage Sale Finder , yardsales.net , Craigslist, or Yard Sale Search.

Many of these sites allow you to post a photo or photos with your ad, so it can help to have that ready, along with the wording you want to use.

Community Bulletin Boards

Some grocery stores, gyms, community centers and schools have bulletin boards where you can post a flyer. Consider making yours stand out with bold lettering, and including the sale date, hours, and address.

Signs for the Neighborhood

If signs are allowed in your area, consider putting out at least five or six on the day before the sale. You may want to make them easy to read from the road, with the address in bold print and an arrow pointing the way.

Also consider tying balloons and a big sign to your mailbox on sale day to make your home more visible.

💡 Quick Tip: If you’re saving for a short-term goal — whether it’s a vacation, a wedding, or the down payment on a house — consider opening a high-yield savings account. The higher APY that you’ll earn will help your money grow faster, but the funds stay liquid, so they are easy to access when you reach your goal.

5. Preparing What You’ll Need for the Sale

A week before the sale, you may want to start considering, and gathering, everything you’ll need. This may include:

Sale-Day Supplies

It’s a smart idea to make sure you have as many folding tables as you’ll need to properly display your sale items, and enough chairs so you and your “staff” can sit comfortably. (It could be a long day.)

A payment station

You may want to set up a main payment station that’s easy for shoppers to get to when they’re ready to buy.

You could make or buy a box to hold the money you collect and for change. (It’s wise to start out with plenty of ones, fives, and quarters in case early shoppers show up with bigger bills.)

Or, you can wear a vendor apron with pockets for the money. You also may want to give family, friends and neighbors you know the option of using a P2P app to make their purchases.

Keeping some old boxes and plastic grocery store bags near the checkout table can be useful for customers who have a lot to carry home.

6. Setting Your Prices

One option is to set up a color-coded sticker system, with items grouped by cost. If you go that route, keep in mind that you’ll want to let those who are assisting at the sale know the code, as well as put up a sign for customers.

A simpler option might be to just tag most of the items individually with a roll of painter’s tape (which is typically easier to remove than masking tape). Larger signs can point out bundled prices, such as “5 CDs for $2” or “3 paperbacks for $1.”

It’s a good idea to remember your main goal when setting prices. If you want to get rid of everything, you may want to keep prices reasonably low.

To avoid cheating yourself, however, you may want to do some research ahead of time so you can get the best price for special items (antiques, collectibles, or anything that might be in high demand with garage sale regulars).

If possible, it’s wise to keep sentimentality from getting in the way of a solid sale.

Also, if several people will be working the sale, you may want to set ground rules for how low prices on certain items should go — and on haggling in general.

If someone offers a low price at the start of the day, and you think you can do better, you may want to exchange contact info, and agree to connect again later when the sale is over.

💡 Quick Tip: An emergency fund or rainy day fund is an important financial safety net. Aim to have at least three to six months’ worth of basic living expenses saved in case you get a major unexpected bill or lose income.

7. Making Your Garage Sale Appealing to Shoppers

You’ll likely want to give some thought to the presentation of your items. Organization can make the day go better for you and your customers. And a little extra effort could make a difference in how much you can get for your goods. Some ideas:

Cleaning Old Items

You can start washing, dusting, and polishing things as soon as you decide they’ll be included in your sale.

This might include Inflating balls and bicycle tires, putting light bulbs in lamps, and trying to have batteries and a power source available for customers who want to test an item before purchasing. (If something doesn’t work, it’s a good idea to mark it clearly.)

Arranging Things in a Way that Makes Sense

Consider making it as easy as possible for customers to find things using signs and a system.

For example, books, CDs, DVDs, and videogames could be grouped together. Toys, board games and puzzles might be another section.

You may want to place the biggest sale items out in front of the yard, if you can–both to attract attention, and so customers can get them to their cars without disturbing others.

If possible, hang clothing on a garment rack near hats, shoes, and purses, and set up a mirror close by.

If your sale goes well, you may have to rearrange your display several times during the day.

8. Being a Good Host

One way to keep garage sale shoppers from walking away without really looking is to make it fun to stick around.

Consider playing some energetic music and greeting customers as they arrive. You also may want to sell water, lemonade, and maybe even baked goods. (It can be nice to have snacks and beverages ready for helpers, too.)

You might also want to have some bottles of hand sanitizer available for customers to use.

If you know your neighbors, they may pop by for a chat. While you may want to be polite and chat, you may also want to remind them that you need to pay attention to your customers — and the money box.

9. Remembering Sale Day Safety

Early birds sometimes show up long before a garage sale is scheduled to start. The more you have ready ahead of time, the more you’ll be able to stay focused on keeping everything and everyone (people, pets, breakables, and the money you make) safe.

Here are some security tips:

Locking Your Doors

It’s wise to keep the doors to your home and your car locked, and to avoid letting strangers use your bathroom.

Getting a Sitter

A sitter can keep an eye on young children and pets so you don’t have to.

Stashing Excess Cash

As profits start to pile up, it’s a good idea to have a method for how you’ll transfer excess cash to a safe spot in your home. It’s also wise to avoid talking about how much you’ve made.

💡 Quick Tip: If you’re faced with debt and wondering which kind to pay off first, it can be smart to prioritize high-interest debt first. For many people, this means their credit card debt; rates have recently been climbing into the double-digit range, so try to eliminate that ASAP.

10. Having a Plan for Unsold Items

When your sale ends, you’ll likely have at least a few unsold items to deal with.

If your primary goal was to clear the clutter, you may want to donate those leftovers to Goodwill, the Salvation Army, or some other nonprofit group that takes used goods. (If you itemize deductions, you may be able to include your donation on your tax return. Just be sure to keep a list of everything you gave and an estimate of the value.)

If the charitable organization you choose offers a pickup service, you may want to schedule the truck for the first available day after your sale. If not, you can arrange to drop off your items as soon as possible. (It’s a good idea to understand beforehand what the charity will and won’t accept.)

If you want to try to squeeze a little more money out of what’s left over — or there are some high-ticket items you aren’t willing to give away — you may want to move on to the online marketplace and sites like Offerup , Facebook Marketplace , Varage Sale , or Swap.com .

Consider taking the time to include a photo with anything you list online. At the very least, it could save you from having to answer a lot of questions about your item.

11. Making the Most of Your Garage Sale Profits

One of the perks of holding a garage sale vs. a virtual sale is that you’ll be holding your profits in your hands (mostly in cash) when you’re finished.

That also could be a problem, though, because it might be tempting to spend it. (And maybe even buy more stuff!)

Instead, consider planning ahead what you’d like to do with your profits. This may also help keep you motivated while you’re putting in the work to plan and host your sale. If you don’t have a specific plan, consider putting the money you earned towards an emergency fund.

The Takeaway

Hosting a garage sale can be a great way to clear the clutter in your home and sell a large number of unwanted items all in one fell swoop.

A successful sale, however, requires some upfront work, as well a day (or two) or working the sale.

The process typically requires gathering and preparing your items, getting a permit, picking up sale supplies, advertising your event, and then setting everything up in an organized and appealing way early on the day of the sale.

The payoff? Newfound space in your home and (hopefully) a nice pile of cash you can take to the bank.

Better banking is here with up to 4.20% APY on SoFi Checking and Savings.

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SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2023 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
The SoFi Bank Debit Mastercard® is issued by SoFi Bank, N.A., pursuant to license by Mastercard International Incorporated and can be used everywhere Mastercard is accepted. Mastercard is a registered trademark, and the circles design is a trademark of Mastercard International Incorporated.
SoFi members with direct deposit can earn up to 4.20% annual percentage yield (APY) interest on Savings account balances (including Vaults) and up to 1.20% APY on Checking account balances. There is no minimum direct deposit amount required to qualify for these rates. Members without direct deposit will earn 1.20% APY on all account balances in Checking and Savings (including Vaults). Interest rates are variable and subject to change at any time. These rates are current as of 4/25/2023. There is no minimum balance requirement. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
Financial Tips & Strategies: The tips provided on this website are of a general nature and do not take into account your specific objectives, financial situation, and needs. You should always consider their appropriateness given your own circumstances.
Third-Party Brand Mentions: No brands, products, or companies mentioned are affiliated with SoFi, nor do they endorse or sponsor this article. Third-party trademarks referenced herein are property of their respective owners.
External Websites: The information and analysis provided through hyperlinks to third-party websites, while believed to be accurate, cannot be guaranteed by SoFi. Links are provided for informational purposes and should not be viewed as an endorsement.
Tax Information: This article provides general background information only and is not intended to serve as legal or tax advice or as a substitute for legal counsel. You should consult your own attorney and/or tax advisor if you have a question requiring legal or tax advice.
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