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You likely agree that saving money is a good idea. Putting extra cash aside every month can help you reach your financial goals, whether that’s building an emergency fund, going on vacation, or putting a down payment on a car or home.

But wanting to save money and actually doing it are two very different things. It’s easy to get caught up in day-to-day needs (and wants), and never gain any traction on savings. But don’t give up. We’ve got 33 tricks and tips that can make saving simple and pain-free. The best part — you can get started as soon as today.

Saving Money Doesn’t Have to Be Overwhelming

While spending less and saving more admittedly sounds painful, it doesn’t have to be that hard. You don’t have to go to the extremes like never shopping or having fun. Just making a few small changes in your day-to-day spending habits can actually add up to a big difference in how much you save each month.

Getting better with money is like any type of behavior modification — the key to lasting change is to make small, incremental changes that stick.

33 Easy Ways to Save Money

What follows are 33 simple money-saving tips you can start working on right now.

1. Tracking Your Spending

One of the best ways to spend less and save more is to take a close look at where your money is currently going. You can track your spending by scanning your checking account and credit card statements over the last few months. But a simpler way is to use a budgeting app that syncs with your accounts and keeps track of what you spend in different categories in real time.

Once you have a big-picture idea of your cash flow, you can make adjustments. Spending a lot more on takeout than you thought? Commit to cooking one or two more nights per week. Is keeping up with fashion killing your budget? You may want to focus on spending less on clothing.

2. Selling Items You Never Use

An simple way to earn some extra cash is to periodically sell gently used items you no longer want or need. You might organize a yard sale or resell your items piecemeal via online marketplaces like OfferUp, Facebook Marketplace, or eBay. If you have extra clothes, shoes, or accessories in good condition, consider listing them on Poshmark or thredUP. Selling your unwanted stuff is essentially getting paid for clearing out clutter.

3. Limiting Time Spent on Social Media

Watching influencers take luxury vacations and promote their favorite products can prompt you to spend more and live beyond your means. In fact, recent research finds that social media can significantly impact your finances — and not in a good way.

Putting a time limit on daily phone scrolling, on the other hand, can automatically lead to less spending and more saving. It also frees up time for activities that can truly enhance your life, like reading, exercising, seeing (real) friends, even taking up side hustle (and earning more money).

4. Setting Goals for Saving

When we do things with focus, intention, and a clear goal in mind, we usually have an easier time making it happen. Instead of saving for the sake of saving, consider setting specific savings goals with target dates and amounts. For instance, maybe you want to save $5,000 for a summer vacation or $2,000 for a new computer.

By setting a target date, you can work backward and figure out exactly how much you need to set aside regularly. For example, if you want a new laptop in eight months, and it will cost you about $2,000, you’ll need to save $250 a month or about $60 a week.

5. Buying Generic Brands

Generic brands typically have the same ingredients and offer comparable quality to name brands but for a fraction of the price. For example, generic drugs usually cost 80% to 85% less than their brand-name counterparts. During your next supermarket or drugstore visit, try to go generic whenever it’s offered. Chances are, the only difference you’ll notice is less money draining out of your checking account.

6. Comparison Shopping

Spending a bit of extra time comparison shopping can help you scoop up the best deals and avoid paying full price. You can do it on your phone while you shop in-store. For online shopping, consider installing a browser extension that helps you find the lowest prices and automatically applies coupons and cash-back options at checkout. Many of these tools will also alert you when the price of an item you intend to purchase drops.

7. Automating Your Savings

Rather than transfer money to your savings account whenever you think of it, consider putting your savings on autopilot. Simply set up a recurring transfer from your checking account to your savings account for the same day each month (perhaps right after you get paid). It’s fine to start small. Even $50 can add up to a sizable sum over time, since the transfer happens every month without fail.

8. Making Monthly Debt Payments

While it’s not directly putting money into your bank account, making on-time, consistent payments on your debt means you’ll pay it off quicker. Once your debt is paid off, the money you are currently spending on principal/interest can go towards savings. In addition to your monthly minimum payments, try to put extra payments towards high-interest debt each month. You’ll whittle those balances down faster and save on interest.

9. Delaying Gratification

If you see something you want to buy but don’t actually need, consider putting off the purchase for at least one week (or ideally 30 days). Tell yourself that if you still want the item and can afford it after the waiting period, you can go ahead and buy it. Chances are good that once that waiting period is over, you’ll no longer have a burning need to purchase the item and simply move on.

10. Meal Planning

If it’s 6pm, you’re tired from a full day of work, and have no food in the house, you’ll probably seek out the path of least resistance — getting takeout or eating out. Your best defense against overspending on food is to sit down every Sunday to scan recipes and come up with a meal plan for the week (including breakfast, lunch, dinner, and snacks). You can then make a shopping list and hit the store.

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

11. Avoiding the Daily Coffee

While it’s fine to occasionally splurge on a fancy coffee, getting your daily coffee out can add up, especially if you sometimes throw in a tempting pastry at the last minute. Even cutting back your coffee shop visits to just two or three times a week and brewing at home the other days can help you save a lot on coffee.

12. Making Repairs Instead of Buying New

While it is easier to replace items than fix them, the latter approach is better for both your wallet and the environment. Depending on the item, a repair could end up costing significantly less expensive than a replacement. Call around for quotes or ask for help from a tech-savvy or handy friend. Also see if there are “repair cafes” in your community. These are volunteer-run events where you can get items mended or fixed for free.

13. Using Cash Instead of Credit Cards

While credit cards are convenient, they make it all too easy to spend money. When you tap or swipe to make a purchase, you don’t really have a sense that you are giving up physical money. Switching to cash-only, even for just a month or so, can help you become more mindful about your spending. You might even try the envelope system. This involves labeling envelopes for each spending category, dividing your available cash for the month into the envelopes, and then only spending what’s in each envelope.

14. Switch to a New Cell Phone Carrier

When it comes to cell service, you don’t have to stick with the big names. Mobile virtual network operators (such as Mint Mobile, Consumer Cellular or Republic Wireless) typically offer the same quality of service at a much lower price tag. It’s also a good idea to look at your last cell phone bill to see how much data you actually use. You may be able to get a smaller plan to save even more.

15. Doing it Yourself Instead of Hiring Someone

Before you hire someone for a home repair or improvement job, like painting a room, re-caulking your tub or shower, or installing a water filter under your sink, consider whether or not you could do it yourself. Often, the cost of materials and a simple YouTube search will lead to significant savings.

16. Stacking Coupons

There are two major types of coupons: Store coupons, which are issued by a specific retailer and can only be used at those locations (you can find these in the paper and through a retailer’s app or mailer); and manufacturer’s coupons, which are found on manufacturer’s and coupon sites. By stacking them, you get an even deeper discount. Stacking coupons for an item that is on sale is a triple whammy that can bring you back to pre-inflation prices.

17. Canceling Some Subscriptions

Dropping subscriptions that you hardly use or are redundant is a simple money-saving move with a potentially big payoff, since these debits occur monthly. It’s worth scanning your checking account and credit card statements for recurring charges to see if there are any items you can cut. If you primarily watch one streaming service but pay for four, for example, canceling three can save you significant cash.

18. Using a Refillable Water Bottle

While keeping bottled water (and seltzers or sodas) on hand is convenient, the cost can add up, especially if you have a family. A simple way to spend less at the grocery store each week is to give each person in your household their own reusable water bottle. You can then take bottled drinks off your shopping list. This will not only save money but also reduce plastic waste.

19. Taking Advantage of Free Resources

You might be surprised at how many things you can actually get for free. For example, your library can grant you access to movies, books, activities, and in some cases, passes to state parks and other nearby attractions. You might also join a Buy Nothing group. These are hyper-local virtual communities where neighbors can give and receive essentially anything for free.

20. Canceling Your Gym Membership

If you’re becoming a stranger to your gym, consider canceling your membership. Even if you got a great deal, gyms debit money out of your bank account every month, whether you go or not. You might look for alternative, low-cost ways to get physically fit, such as walking/jogging/biking around your neighborhood, lifting free weights at home, and taking hikes.

21. Saving Change

A nickel here and a quarter there might not seem like much, but if you start dropping all your spare change into a jar every day, you’ll be surprised at how much you’ll accumulate. If you rarely carry or pay in cash, consider collecting digital change. Many money-saving apps automatically round up your purchase to the nearest dollar, then transfer the difference into your savings account.

💡 Quick Tip: Want a simple way to save more everyday? When you turn on Roundups, all of your debit card purchases are automatically rounded up to the next dollar and deposited into your online savings account.

22. Skipping Alcohol at Restaurants

Ordering a cocktail or a glass of wine (or three) when out to dinner can significantly inflate your bill. Consider getting water or a non-alcoholic beverage instead, then perhaps having a glass of wine when you get home. If you must drink, local beer, “house wine” options, and happy hour cocktails are usually the cheapest options.

23. Finding Free Family Entertainment

Taking the family to concerts, movies, and immersive art exhibits can add up quickly. Instead, look for free or low-cost community activities. These offerings typically spike during the summer months and around holidays. To stay abreast of upcoming goings-on, you can sign up for newsletters or follow social media accounts of your local community, recreation centers, and libraries.

24. Doing a No-Spend Challenge

A simple way to save (potentially hundreds) is to do a no-spend month. This involves spending money only on essentials for 30 days. Before you begin, it’s a good idea to set parameters for what you will and won’t spend money on and then commit to the plan. It’s only a month! By the end of the challenge, you may realize there were certain things you didn’t really miss and rethink your approach to spending.

25. Reducing Your Energy Use

You may be able to significantly lower your utility bills with just a few tweaks to your habits and home. Try taking shorter showers, fixing any drippy faucets or constantly running toilets, turning off lights whenever you leave a room, and washing your clothes in cold water. Once you see a difference in your monthly bills, you’ll be encouraged to carry on and find more ways to cut energy use.

26. Adjusting Your Tax Withholdings.

If you typically get a refund after doing your taxes, you’re essentially giving the government an interest-free loan. That’s money that could be working for you by earning interest in a high-yield savings account. Revisit your withholdings and put that extra money into your own bank account.

27. Taking a Staycation Instead of a Vacation

It may sound boring, but you’d be surprised how much a staycation can feel like a fun and luxurious getaway. The key is to take a complete break from your daily routine, change up the scenery, and spend time doing things you truly enjoy. This can provide the respite you’ve been longing for — minus the headaches of travel — and for a fraction of the price.

28. Finding Cheap Ways to Reward Yourself

If you focus too hard on saving and never on fun, you might end up feeling deprived and give up on the whole project. Instead, allow yourself to celebrate small money wins and life events on the cheap. For instance, for every X amount you’ve put away into your emergency fund, you might reward yourself with a fancy coffee, a $5 “spree” at the dollar store, or getting a treat at your favorite ice cream shop.

29. Avoiding Bank Fees

Overdraft fees, ATM fees, and monthly maintenance fees can make your bank account balance move in the wrong direction — down instead of up. To ditch costly overdraft fees, keep regular tabs on your checking account to make sure you have enough to cover your debits and checks. To eliminate other fees, you may want to look for a bank account that doesn’t charge monthly maintenance fees and ATM fees.

30. Haggling

Negotiating prices isn’t just for buying cars or houses. You can haggle for just about any product or service — your cable and cell phone bills, things you buy in stores, and even your rent. The key to success is to come to the negotiation prepared (do all the research you may need in advance), speak with confidence, and start off the conversation with the question, “What flexibility do you have?”

Recommended: 15 Creative Ways to Save Money

31. Saving Your Windfalls

It can be tempting to go hog wild and spend your windfalls. But next time you get a work bonus, cash gift, or tax refund (which you actually want to avoid, see tip #26), consider spending a small percentage of it on something frivolous and fun, then putting the rest into your savings account. This can help you reach your savings goals significantly faster.

Recommended: The Fastest Ways to Get a Tax Refund

32. Timing Your Purchases Right

If you want to buy something that you don’t need right away, it’s worth researching the best times of the year for deals and sales. For example, you can often find great deals on cars in May, October, November and December; clothes are typically cheapest at the end of any season; and the end and the very beginning of the year are generally the best times to buy appliances.

33. Switching to a High-Yield Savings Account

If your extra cash is sitting in a traditional savings account, you’re missing out on a free source of extra cash. A high-yield savings account is a type of savings that you can open at many banks and credit unions. But it differs from a traditional savings account in that it offers an annual percentage yield (APY) that’s 10 to 20 times higher. If, for example, you put $25,000 into a savings account with a 4.60% APY, you’ll earn an extra $177.78 by the end of the year — just for letting the money sit in the bank.

Saving Money with SoFi

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 3.60% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

Why is saving money important?

Saving money enables you to build an emergency fund that protects you against the unexpected. It also allows you to work towards — and achieve — future goals, such as buying a car or home, sending your kids to college, and being able to one day retire.

How can I find the motivation to save money?

To find the motivation to save money, it helps to set specific goals. Think about the things you want to buy or do in the next year or two and how much these things will cost. You can then determine how much you need to set aside each month to reach your goals. Watching your savings account balance go up can also help keep you motivated.

What are the consequences of not saving money?

When you don’t have a cushion of savings, any bump in the road (such as a car or home repair, trip to the ER, or loss of income) can force you to run up credit card debt. This can lead to a debt spiral that can take months, if not years, to recover from. Not saving also means you won’t make any progress towards your financial goals and simply continue living paycheck to paycheck.

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Photo credit: iStock/Chaninan Boongate

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. 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.

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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If you’re wondering whether a bank checks your credit when you open a checking account, the answer is typically no…but there’s more to the story than that one little word.

When it comes to starting a new checking account, banks don’t usually check your three-digit FICO® score — the most common score used by lenders — in order to determine your eligibility to open a checking account. They do, however, often look into your banking history via an agency known as ChexSystems.

Here’s a closer look at credit checks when opening an account and what could prevent you from getting that approval you’re after.

Whether or Not Banks Run Credit Checks for Checking Accounts

First, know that when most entities check your credit, they’re looking at that three-digit FICO score mentioned above — the one that ranges from 300 (poor) to 850 (exceptional). They will likely also receive your entire credit report, which is a detailed document listing all your open accounts, their statuses, and several years of your credit behavior, among other items.

When your credit is checked, it can be either a soft or hard credit inquiry. The former are inquiries that don’t impact your precious credit score. But the latter can wind up lowering your score because these “hard pulls,” as they are sometimes known, can indicate that you are shopping around for more credit, which can make you look like a risky prospect.

But back to our question about whether a bank will initiate a credit check…the answer is: not exactly. They typically use their own kind of financial background check system called ChexSystems. It’s a reporting agency that focuses on consumers’ banking behavior.

What Is ChexSystems?

ChexSystems is a reporting agency that focuses on your behavior around banking. Some details to note:

•   Your ChexSystems report will include your history of overdrafts, negative balances, and bounced checks, as well as any instances of fraud, security freezes, and other items specifically to do with your banking history. So while it’s not a credit check, per se, it is like a credit check, and your report could lead to your being rejected for a bank account.

•   Like any other reporting agency, ChexSystems is required by the Fair Credit Reporting Act (FCRA) to issue consumers a free report once a year, so you can regularly check your history.

•   If any of the negative items on your report are fraudulent, you can dispute that information with the agency to get it removed — and if they’re legitimate, you can work toward improving the behavior that caused them. (Most information on your ChexSystems report falls off after five years.)

•   There are also deposit accounts that don’t pull ChexSystems reports. So even if you’ve got some negative history, it’s possible to turn over a new leaf and work toward a more positive relationship with banking.

Recommended: How to Avoid ATM Fees

Why Do Banks Run Credit Checks When You Open a Bank Account?

Now that you know how credit checks work, you may wonder, Why do banks run credit checks when you want to open an account? Isn’t that their whole reason for being, to give people checking and savings accounts?

While there’s truth to that, banks do rely on their customers to keep their accounts in good order — and to pay fees, ensure checks don’t bounce, and generally be responsible bankers.

Using ChexSystems gives banks an idea of how you might behave as a banking customer in the future based on your recorded behavior. The intel in ChexSystems can also help a bank disqualify you from obtaining an account if they don’t think you pass muster.

Does It Hurt Your Credit Score When Trying to Open a Bank Account?

One exciting corollary to the fact that banks don’t pull your credit score when opening an account: Opening a bank account won’t hurt your credit score, since there’s no hard credit inquiry involved. That’s comforting news to anyone opening a new bank account. It also means you can even open a few different checking and savings accounts (perhaps you want a regular checking account, plus one for your side hustle income, as well as a savings account for your emergency fund), and you won’t negatively impact your rating.

Stressed about your credit score and not loving where it’s lingering? Building your credit score is definitely an important step toward plenty of financial goals, and the behaviors you cultivate to do so may also improve your ChexSystems report. Moves like lowering the amount of debt you carry, paying bills on time all the time, and not opening too many lines of credit can really pay off.

Reasons Why You Might Be Denied a Checking Account

Unfortunately, every now and then, people do get rejected when they apply for a bank account. For banks that use ChexSystems, these are some of the reasons for a denial.

Unpaid Negative Balance on a Previous Bank Account

As mentioned, banks aren’t officially loaning money to checking account holders — but if you maintain a negative balance on an account and never pay that money back, the financial institution is on the hook for that loss. For this reason, negative balances on existing or previous accounts can spell rejection for a new one.

Abusing Overdraft Privileges

On a similar note, overdrafting again and again hinders a bank’s ability to stay in the black on your account. That goes double if you’ve avoided paying overdraft fees or other charges associated with your behavior.

Fraudulent Activity on Previous Accounts

ChexSystems records suspected fraudulent activity — which, obviously, is not something a bank wants to have to deal with in the future.

Having a Joint Account With Someone Who Has Negative Unpaid Balances on Their Accounts

When you have a joint bank account, your partner’s behaviors can affect your standing as much as your own. So even if it’s not you who’s wreaking havoc on your bank account, the other person’s negative balances, overdraft abuses, and fraudulent activity could negatively impact your ChexSystems report.

The Takeaway

If you’re sweating whether opening a bank account can involve a credit check that deflates your credit score, don’t worry. Most banks don’t pull a hard credit check to qualify you for a checking account. However, they might look into your ChexSystems report, a banking industry way of peering into an applicant’s history. Certain negative items can disqualify you from opening a bank account.

That said, there are banks out there that don’t use ChexSystems to qualify their customers, and SoFi is one of them.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 3.60% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

Do banks check your credit score when opening a checking account?

While banks don’t check your FICO score to qualify you for a checking account, they may check your ChexSystems report. This is similar to your credit report but focused specifically on your banking history.

Can you be denied a checking account because of bad credit?

You likely won’t be denied a checking account because of bad credit directly. However, if you have bad credit, you may also have negative items on your ChexSystems report that could disqualify you from some (but not all) bank accounts.

Why would a bank deny a checking account?

A bank might deny your request for an account if you have negative items on your ChexSystems report, such as fraudulent activity, negative balances, or unpaid overdraft charges.

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Photo credit: iStock/MicroStockHub

SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. 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.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://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.

Disclaimer: Many factors affect your credit scores and the interest rates you may receive. SoFi is not a Credit Repair Organization as defined under federal or state law, including the Credit Repair Organizations Act. SoFi does not provide “credit repair” services or advice or assistance regarding “rebuilding” or “improving” your credit record, credit history, or credit rating. For details, see the FTC’s website .

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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It’s not your imagination: Grocery prices are rising, having gone up 2.2% between February 2023 and 2024, after the sticker shock of an 11% increase between 2021 and 2022.

You may think there’s not much you can do about the high cost of groceries (after all, a person has to eat!), but there are many easy ways to slash your weekly spending on groceries. And, saving at the supermarket doesn’t have to mean skimping on quality, taste, or nutrition.

What follows are 31 simple tricks that can help you shop smarter and spend less whenever you visit the supermarket.

Key Principles Behind Saving Money on Groceries

Before diving into the ideas for saving money on groceries, consider the big-picture principles at work when it comes to frugal living for food. Consider these concepts:

•   Plan your meals

•   Understand pricing

•   Don’t shop when hungry

•   Buy in bulk when possible

•   Choose generic products

•   Shop in season

•   Comparison-shop like a pro; no grabbing the first item you see

•   Stick to your list

•   Buy local or grow your own food.

How Much Do Groceries Cost on Average?

The average household spends about $270 a week on groceries; those with kids spend more, or about $331 per week. Using Census Bureau data, the average monthly costs for groceries therefore tops $1,000.

These costs are strictly for groceries. If you eat out or grab takeout (whether a flat white or fancy salad), your total food costs will of course be higher.

How Can I Determine What My Budget Is?

It’s important to set aside an amount of money for food that fits into your overall financial planning. In terms of how to make a budget, you might try the popular 50/30/20 budget rule. With this plan, you take your after-tax income and allocate 50% to needs, such as housing, utilities, health care, minimum debt repayment, basic transportation, and food. Thirty percent is for the “wants” in life, such as travel, dining out, and cute (but not vital) clothes. The last 20% goes to savings and additional debt payment.

If you use this budget or another method, you will want to make sure that your food costs fall in line with the other necessities of life, perhaps trimming from your spending on “wants,” if needed.

Tips for Grocery Shopping on a Budget

Now, dive in and learn how to trim your grocery bill and live on a budget.

1. Make – and Stick 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. Otherwise, you may well wind up blowing your budget.

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. Eat Before You Shop

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. Some popcorn? Why not? Pomegranate juice? It’s healthy, so into the cart it goes. And maybe some cookies as a little treat.

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. Plan for Leftovers

In America, 80 million tons of food go to waste 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-Shop 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 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.

5. Develop 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 dill right on your windowsill, you can just pick what you need rather than buy a whole bunch at the market. It’s a fun and tasty way to stick to your budget.

6. Shop at 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 strolling, as that’s when you’re more likely to make random purchases.

7. Bring 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. Join 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. Embrace Meatless Mondays

Here’s another way to buy groceries on a budget: Buy and eat less meat. Reducing meat consumption and eating more plant-based meals has benefits for the environment, your waistline, and your wallet.

Chickpeas, pinto beans, peas, Brussels 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. Buy 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. Think 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. Try 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. Clip 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 how to coupon successfully, 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.

💡 Quick Tip: Want a simple way to save more everyday? When you turn on Roundups, all of your debit card purchases are automatically rounded up to the next dollar and deposited into your online savings account.

14. Shop 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. Use 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, Checkout 51, and Fetch.

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. Stock 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. Buy 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. Using generic (rather than brand name) products can save as much as 40% off your grocery bill. You can put that extra cash right into your bank account.

18. Shop 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. Portion 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 lunches and cut cheese into slices from a block for easy snacks.

20. Drink Tap Water

To avoid spending money on bottled water, you may want to get a filtered pitcher and switch to drinking tap water. Depending on how much you typically sip, you can save a bundle. 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. Use a Smaller Cart

Here’s a little swap that can help you save: 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. Minimize 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. Shop 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 crush 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. Calculate 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. Shop 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. Pay with Cash

Another idea for grocery shopping on a budget: 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. (A variation on the theme: Use your debit card, not your credit card, to keep your spending in line.)

Recommended: Envelope Budgeting Method

27. Make 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 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. Avoid 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 help you stop spending money (or at least more than you budgeted for). Once you start looking, you may even notice a price differential between the eye-level item cost and the one at your feet.

29. Bake 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. Hit 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 markdowns 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, which could help boost your savings.

31. Do 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. And those funds can grow if you put them in an interest-bearing bank account.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 3.60% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

What is a realistic budget for groceries?

The average household spends $270 a week on groceries, but how much you need to spend will vary on family size, location, and other considerations.

Which store is cheapest to buy groceries?

Which grocery store is cheapest will vary from location to location, but among the most affordable are Aldi, Lidl, Market Basket, WinCo, and Trader Joe’s.

How can I make my grocery bill cheaper?

Some ways to go grocery shopping on a budget include buying in bulk, buying generic products, planning your meals in advance, and using coupons, apps, and loyalty clubs.

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SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. 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.

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://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.

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Short of getting a raise, the only way to save more money is to spend less. While that may sound like a bitter pill to swallow, tightening your budget could be a lot easier than you think.

Thanks to the constant allure of consumerism, many of us mindlessly overspend on small recurring expenses that can seriously add up over time. We often don’t realize how much we waste on things we don’t need or, in truth, really care all that much about.

By becoming more intentional in your spending, and cutting out unnecessary costs, you could potentially save hundreds per month with much sacrifice. That’s money you can then put towards things that are important to you, like going on a great vacation, buying a car, or putting a downpayment on a home.

While everyone’s spending habits are different, we’ve got 15 ideas for how to spend less and save more starting today.

Tips For Saving Money

One of the best ways to save money is to take a close look at where your money is currently going each month. You can track your spending by scanning your credit card statements and receipts over the last few months. But a simpler way is to use a budgeting app that syncs with your accounts and keeps track of what you spend in different categories in real time.

Once you have a bird’s eye view of your cash flow, you may realize that you’re spending more than you thought (or want to) in certain categories. You may also find some easy places to cut back — such as getting rid of a monthly subscription you rarely use or switching to a cheaper cell phone plan.

If you want to get started saving right away, we’ve got some simple suggestions for things you can stop buying right now. Eliminating even small recurring expenses can add up dramatically by the end of a year.

15 Things to Stop Buying If You Are Trying to Save Money

To start saving money right away, stop buying these 15 things.

1. Multiple Streaming Services

With the proliferation of streaming services now available, it can be easy to sign up for more platforms than you can possibly watch. Consider picking one or two services that you actually watch consistently and getting rid of the rest. Or, stagger your streaming services so that you have each one for a few months out of the year. That can give you access to all the shows you want but keeps the price down.

2. Unused Gym Membership

A gym membership can be worth the cost if you’re actively using it. But if you rarely see the inside of your gym these days, it might make sense to cancel your membership and find lower-cost fitness alternatives, such as running/walking outside, lifting weights at home, or following free workout videos on YouTube.

Recommended: 27 Fun Things to Do for Free

3. Premium Cable

Premium cable subscriptions come with a high monthly price tag and often include tons of channels you never watch. To save money fast, think about cutting back to basic cable or negotiating for a cheaper rate with your provider. Or, cut the cord entirely and just use a few streaming services. If you still want live TV channels, consider options like Sling TV or YouTube TV.

4. The Daily Coffee

You may really enjoy your morning (or afternoon) takeaway coffee, but if you add up how much you’re actually shelling out on coffee drinks each month — and year — you might decide that there are better uses for this money. Consider buying a quality coffee maker or French press and (if you don’t have one) a portable coffee mug, so you can make your delicious brew to go at home.

5. Name Brand Items

Generic brands typically have the same ingredients and offer comparable quality to name brands but for a fraction of the price. Whether you’re shopping in the supermarket or a drug store, opt for the generic option whenever it’s offered. This small change can lead to significant savings without compromising your needs or lifestyle.

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

6. Extended Warranties

These days, you can get extended warranties on practically everything — appliances, cars, electronics, and even homes. While having that extra protection may sound like a good idea, it typically comes at a hefty cost. And, the odds of you using an extended warranty is low. Companies have done the math and generally offer warranties that end before the usual problems crop up — otherwise they would lose money. A better bet: Skip the extended warranty and put that money into your emergency fund.

7. Greeting Cards

Surprising but true: A greeting card can set you back as much as $10. Rather than a canned card from a greeting company, most people would likely rather you share your own words and thoughts. Consider stocking up on a box of pretty cards that are blank inside. You can then personalize and customize each one for any occasion, whether it’s a birthday, baby shower, or wedding.

8. Bottled Water

While keeping bottled water on hand is convenient, the cost can add up, especially if you have a family. A simple way to spend less at the grocery store each week is to give each person in your household their own reusable water bottle to fill with tap or filtered water. You can then take bottled water (and if you really want to save, all store-bought drinks) off your shopping list. This will not only save money but also reduce plastic waste.

9. Impulse Purchases

Those little purchases you make here and there without thinking can add up. Consider setting a 24 hour (or longer) waiting period for any item you have a sudden urge to buy but really don’t need. You may find that the urge passes. Or, try a “no-spend” week or month where you pause all unnecessary spending for a set time period. This can not only save cash but shed light on things you’re buying but can easily do without.

10. Pre-Cut Fruits And Vegetables

Pre-washed and cut produce (and bagged salads) are certainly convenient, but generally cost a lot more than whole fruits and veggies. This is an easy thing to stop buying — prepping produce at home doesn’t take that much time and you may find that your fruits and veggies actually taste fresher.

11. Books

Instead of paying for books, consider getting a (free) library card. This will give you access to countless print, digital, and audiobooks, both at your local library and through partnerships they might have with other libraries and streaming services. This is one of the easiest ways to cut back on spending.

12. Disposable Products

Buying disposable items — like paper plates, plastic cups, napkins, and paper towels — adds up and all of it an unnecessary expense. Consider using real dishware, cloth napkins, and washable cleaning cloths. Your weekly grocery bill (and bags) will get instantly lighter. Avoiding disposable items is also kinder to the environment.

13. Takeout/Delivery

It’s fine to get takeout every once in a while, but if you’re looking to save cash quickly, consider writing off all takeout/delivery for a month (or maybe two). Instead, plan and shop for your meals and do some meal-prepping on the weekend. That way, cooking won’t feel like a chore at the end of a long work day. You’ll end up saving money on food while still eating well.

14. Bank Fees

If your bank charges you monthly maintenance or minimum balance fees, consider switching to a bank that offers free checking and savings accounts. To avoid getting hit with hefty overdraft fees, keep tabs on your balance to ensure you can cover your checks and debits. To avoid ATM fees, plan ahead and stop at an in-network machine before you go out.

💡 Quick Tip: Bank fees eat away at your hard-earned money. To protect your cash, open a checking account with no account fees online — and earn up to 0.50% APY, too.

15. Fancy Cleaning Supplies

Nowadays stores carry a different cleaning product for every spot in your home. There’s tile cleaner, sink cleaner, floor cleaner, window cleaner, you name it. Rather than purchase a dozen different specialized cleaning products, you can simply make your own all-purpose cleaner: Mix one cup of distilled water, one cup of white vinegar, the juice of half a lemon and about 15 drops of essential oil and put it in a spray bottle.

The Takeaway

Everyday items that drain your budget include expensive daily coffee, unnecessary subscription services, takeout/delivery, brand name products, and daily impulse shopping. Once you stop spending money on these things, you should start to see extra money in your checking account that you can now transfer to your savings account — cha-ching!

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 3.60% APY on SoFi Checking and Savings with eligible direct deposit.

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Photo credit: iStock/pixdeluxe

Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet

Eligible Direct Deposit means a recurring deposit of regular income to an account holder’s SoFi Checking or Savings account, including payroll, pension, or government benefit payments (e.g., Social Security), made by the account holder’s employer, payroll or benefits provider or government agency (“Eligible Direct Deposit”) via the Automated Clearing House (“ACH”) Network every 31 calendar days.

Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

Deposits that are not from an employer, payroll, or benefits provider or government agency, including but not limited to check deposits, peer-to-peer transfers (e.g., transfers from PayPal, Venmo, Wise, etc.), merchant transactions (e.g., transactions from PayPal, Stripe, Square, etc.), and bank ACH funds transfers and wire transfers from external accounts, or are non-recurring in nature (e.g., IRS tax refunds), do not constitute Eligible Direct Deposit activity. There is no minimum Eligible Direct Deposit amount required to qualify for the stated interest rate. SoFi Bank shall, in its sole discretion, assess each account holder's Eligible Direct Deposit activity to determine the applicability of rates and may request additional documentation for verification of eligibility.

See additional details at https://www.sofi.com/legal/banking-rate-sheet.
SoFi Checking and Savings is offered through SoFi Bank, N.A. Member FDIC. 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.

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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It may seem as if having a bank account is a given in life, but actually, it’s not: Some people get rejected and have to work hard (really hard) to attain that privilege. There’s a situation called being blacklisted by banks, and it’s a tough one to overcome.

Granted, for many, having enough money for a deposit and valid ID gives you all you need to open a bank account.

But if you’ve had problems with a bank account before and your screening report reveals those issues, you could be denied. But all is not lost: Take a deep breath and read on.

What Does It Mean to Be on the ChexSystems Blacklist?

Unless you’ve had trouble opening a bank account, it’s possible you’ve never even heard of ChexSystems. Think of ChexSystems as being akin to the credit reporting agencies that determine your all-important FICO credit score. Except instead of keeping track of how well you manage debt the way Equifax, Experian, and TransUnion do, ChexSystems records how well you manage your banking life.

Do you have a history of bouncing checks, overdrawing your account, failing to pay bank fees, suspicious activity, or have had your account closed by a financial institution? If so, it’s likely ChexSystems knows about and is keeping track of those negative activities. Approximately 80% of banks use these agencies’ screening reports when deciding whether to approve a consumer’s application to open a checking or savings account.

Along with your report, banks also may use your ChexSystems Consumer Score to assess your potential risk as a new or returning customer. A score can range from 100 to 899 — and a higher score signifies lower risk.

There’s no official point or score at which consumers are automatically “blacklisted” by ChexSystems or the banks that use its services. Each financial institution determines independently how much risk is acceptable when deciding to open a new account for a client. But if your score is in the lower range, you should be aware that your application could be refused. The reason why: You don’t appear to be someone who will use your bank accounts responsibly.

If you’re planning to open an account and you’re wondering what your current ChexSystems Consumer Score is, you can request it at the ChexSystems website. You’re able to get one free report per year.

What to Do If You Are Blacklisted

So let’s say you’ve applied for a bank account and got rejected. That can be an upsetting feeling. After all, bank accounts — especially checking accounts — are the hub of most people’s financial lives. Paychecks are deposited there, and bills and other debts are paid out of that same account. You may wonder how you will ever get a bank account after being blacklisted.

We have good news: If a financial institution denies your request to open an account, there are a few things you may be able to do to improve your standing. Here are four steps to take.

1. Request a Consumer Disclosure Report

The bank or credit union that declined to open an account for you should inform you which reporting agency (ChexSystems or another) generated the report it used when considering your application. You can then contact that agency by phone, mail, or online to request a free copy of the report. You’ll then take a look at exactly what’s on your record.

2. Report Any Discrepancies

Once you receive a copy of your file, you should be able to see which banks or credit unions provided negative information about you to the reporting agency. If the report doesn’t match up to your experiences, there may have been an error, or the problem could be connected to identity theft. Either way, it’s a good idea to check your own records for any discrepancies and prepare to address what you may uncover.

3. Dispute Any Errors Found

Consumer reporting agencies must comply with the federal Fair Credit Reporting Act. That means they are required to ensure the information they provide is as accurate as possible. What’s more, by law, they can’t include certain types of negative information that’s more than seven years old. (ChexSystems typically keeps negative information on a report for five years.)

If you feel your banking report has errors, is incomplete, or that some negative information is out of date, your next move may be to file a dispute. The Consumer Financial Protection Bureau (CFPB) provides sample letters for contacting both the financial institution that supplied the incorrect data and the agency that included it in its report. Or, you can file your dispute on the ChexSystems website.

Under the Fair Credit Reporting Act, ChexSystems must verify the negative information within 30 days or delete it from your ChexSystems report.

You also may want to get an updated credit report from one or all three of the major credit bureaus to see if there are similar problems there. You can request those reports for free at annualcreditreport.com. If you find anything amiss, you can dispute those credit report errors.

To be clear, your ChexSystems score is not the same as the FICO credit score lenders look at when you apply for a credit card or loan. And the banking reports ChexSystems provide do not include the same information as credit reports. But if there’s inaccurate information in a report about your checking account activity, there may be similar issues with your credit reports — especially if you’ve been the victim of identity theft. If you can catch discrepancies early, you may be able to head off future questions about your creditworthiness.

4. Pay Off Outstanding Debts and Fees

Of course, there is the possibility that the black marks on your report are valid. Maybe you bailed on an account that was overdrawn or had another negative situation. If information on your report was accurate, you still may be able to improve your chances of opening an account. You will probably want to show that you are trying to rectify past problems.

Check with the bank that declined your recent application for an account. A banker there may have some suggestions. It could help, for example, if you can pay off any old fees you still owe to ChexSystems’ member institutions. Once those past bad debts are taken care of, you can ask the bank or credit union that provided the negative information to update that item on your ChexSystems report.

You still may have to wait five years for the negative information to be completely removed from your report. But ultimately, it’s up to each individual bank — not ChexSystems — to decide if a customer’s application will be approved or denied. If the bank sees you’re making an effort to right old wrongs, it may reconsider your application. That’s why connecting with a banker to explain what steps you’re taking can be a move in the right direction.

How to Avoid Being Blacklisted by ChexSystems

Obviously, the best way to avoid getting a low ChexSystems Consumer Score or a negative report is to avoid the activities that could make you a riskier bank customer. If you want to be a good checking and savings account customer, avoid such things as:

•   Bouncing checks or running up too many overdraft fees

•   Having an account closed involuntarily

•   Committing ATM or debit card abuse

•   Being suspected of fraud or illegal activity

•   Opening and closing multiple accounts in a short period of time

But there are other steps you can take to further secure your finances and your financial reputation. Consider these options as well to boost your standing as a banking customer. They can help you avoid being blacklisted.

Monitor Your Financial Health

If there’s information on a ChexSystems report that you weren’t aware of, you may have been the victim of identity theft. Reviewing your accounts regularly could help you clear up problems faster. Even if you don’t have this kind of fraudulent activity on your record, it’s still a good idea to stay on top of your financial profile. Here are some key steps.

•   It’s a good idea to periodically request and scrutinize your free ChexSystems report.

•   You’ll also want to get free copies of your three major credit reports from annualcreditreport.com at least annually. Again, your goal is to make sure that everything is up-to-date and accurate and that there isn’t any fraud or identity theft occurring.

•   It’s also a good idea to regularly check your bank account and credit card statements to make sure there aren’t any transactions you aren’t aware of. Many financial institutions offer online tools and mobile apps that can make tracking your accounts easy and convenient.

•   You may want to set up a low balance alert for your checking account. That way, you’ll get a text or email when your balance reaches a certain threshold, and you’ll know to stop using the account until you make a deposit. That can help avoid overdrawing your account and bouncing checks and/or triggering fees. You also might consider setting up bank alerts for unusual activity, overdrafts, and new log-ins.

Find an Alternative to a Traditional Banking Account

If you’ve been rejected and are worried that you might be unable to open a bank account, don’t give up hope. If your ChexSystems report seems to be blocking you from getting an account, you may have other options.

•   Some banks and credit unions offer what are called “second chance” checking accounts. These typically offer fewer features and higher fees than regular bank accounts to customers who have been blocked by a ChexSystems report or score.

•   There are also some banks and credit unions that don’t use ChexSystems when making decisions on account applications. You might be able to enjoy the same benefits as other account holders, with low or no fees, if you choose to do business with one of those financial institutions. A little online research should show you which banks don’t depend upon ChexSystems.

By investing a bit of time and energy, you should be able to find an account that suits your needs even if you have been blacklisted.

The Takeaway

If a bank denied your application for a new checking or savings account, it could be that you were blacklisted due to negative information on your ChexSystems report.

You still have options, though. If the information on your report is wrong or more than seven years old, you can dispute the negative information and have your report corrected. And if it turns out the negative information is true, you can take steps to remedy the situation and possibly open an account elsewhere. The convenience of a bank account may well be within reach.

Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with direct deposit, you’ll get a competitive annual percentage yield (APY), pay zero account fees, and enjoy an array of rewards, such as access to the Allpoint Network of 55,000+ fee-free ATMs globally. Qualifying accounts can even access their paycheck up to two days early.

Better banking is here with SoFi, NerdWallet’s 2024 winner for Best Checking Account Overall.* Enjoy up to 3.60% APY on SoFi Checking and Savings with eligible direct deposit.

FAQ

Can I open a bank account if I’m blacklisted?

You may have a few options if you’ve been blocked from opening an account. You could try to fix your old problems, and ask the bank to reconsider. You could sign up for a “second chance” account that’s geared to people with a negative banking history. Or, you could look for a bank that doesn’t base its decisions about customer accounts on ChexSystems reports.

How long are you blacklisted from banks?

Every bank has its own policies when it comes to deciding a customer’s account eligibility. But if you have negative items on a ChexSystems report that could cause a bank to decline your account application, you can expect that information to stay on your report for up to five years.

What does it mean when your bank account is blacklisted?

If someone tells you that you have a blacklisted bank account, it generally means you have enough negative information on your ChexSystems report — or a low enough ChexSystems score — that the bank sees you as a risk. They therefore decline to offer you an account.

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Although we do our best to recognize all Eligible Direct Deposits, a small number of employers, payroll providers, benefits providers, or government agencies do not designate payments as direct deposit. To ensure you're earning the APY for account holders with Eligible Direct Deposit, we encourage you to check your APY Details page the day after your Eligible Direct Deposit posts to your SoFi account. If your APY is not showing as the APY for account holders with Eligible Direct Deposit, contact us at 855-456-7634 with the details of your Eligible Direct Deposit. As long as SoFi Bank can validate those details, you will start earning the APY for account holders with Eligible Direct Deposit from the date you contact SoFi for the next 31 calendar days. You will also be eligible for the APY for account holders with Eligible Direct Deposit on future Eligible Direct Deposits, as long as SoFi Bank can validate them.

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