Saving money 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 30+ saving money tips to make the process simple. The best part — you can get started with these ways to save money as soon as today.
Key Points
• Tracking your spending helps identify areas where you can cut back and save more effectively.
• Selling unused items can generate extra cash and declutter your space.
• Setting specific savings goals with target dates can motivate consistent saving habits.
• Buying generic brands instead of name brands can significantly reduce daily spending.
• Automating your savings ensures a consistent transfer of funds into your savings account.
Why Finding Ways to Save Money Is So Important
Saving money is important because it allows you to establish an emergency fund that acts as a financial cushion against unexpected events such as a costly medical procedure or job loss, lets you work toward specific goals like buying a house or taking a vacation, and prevents you from relying on credit cards and wracking up high-interest debt that can take months or years to pay off.
Saving money also reduces stress, gives you peace of mind, and helps you take control of your financial future.
And know this: Spending less and saving more doesn’t have to be difficult. Just making a few small changes in your day-to-day spending habits with some saving money tips can add up to a big difference in how much you save each month.
30+ Practical Suggestions and Tips for Saving Money
Here are 33 simple money-saving tips you can start working on right now.
1. Track Your Spending to Keep More Money in Your Pocket
One of the best ways to save money and spend less is to take a close look at where your money is currently going. You can track your spending and make a budget 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.
Recommended: 50/30/20 Budget Calculator
2. Sell Unused Household Items to Instantly Boost Your Savings
A 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 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. Embrace the “Deinfluencing” Trend to Avoid Impulse Buys
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.
One way to help avoid this is through the “deinfluencing” trend, which encourages consumers to avoid overhyped, unnecessary, and overpriced items promoted by influencers and instead think critically about each purchase and whether they really need it. The deinfluencing movement is about practicing intentional, mindful spending, and it could help you spend less and save more in your bank account.
4. Set Specific Goals to Stay Motivated on Your Savings Journey
When we do things with focus, intention, and a clear goal in mind, we often 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. You can also use a savings goal calculator to determine how much you’ll need to save.
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5. Switch to Generic Brands to Economize Your Daily Expenses
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. And with generic foods, you can save money on groceries. 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. Practice Comparison Shopping to Always Get the Best Deal
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, or if you’re shopping online, you can use a shopping browser extension that helps you find the lowest prices across various retailers.
7. Leverage Round-Up Apps and Automated Transfers to Save Effortlessly
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. Pay Down High-Interest Debt to Keep More of Your Income
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. Master the 30-Day Rule to Successfully Delay Gratification
Another suggestion for saving money: If you see something you want to buy but don’t actually need, consider putting off the purchase for 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. Start Meal Planning to Prevent Wasting Money on Takeout
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 restaurant 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.
11. Brew Your Own Coffee at Home for a Simple Daily Win
While it’s fine to occasionally splurge on a fancy coffee, getting your daily coffee fix 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. Repair Broken Items Instead of Immediately Buying New Ones
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 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. Try the Cash Envelope System to Curb Impulse Spending
Credit cards make it all too easy to spend money. Purchasing with cash-only, instead of credit cards, can help you become more mindful about your spending. One way to do this is the cash envelope budgeting method.
Here’s how it works: Label envelopes for each spending category you have, such as food and entertainment; divide your available cash for the month into the envelopes, and then only spend what’s in each envelope. When the money is gone for each category for the month, that’s it. It forces you to think carefully about each purchase rather than impulse buying.
14. Renegotiate or Switch Your Cell Phone Plan for Better Rates
When it comes to cell service, you don’t have to stick with the plan — or the monthly fee — you have. Call your carrier and say you’re thinking of switching to another carrier for a lower rate. They may offer you a new, better deal to stick with them. If they don’t, check out offers from other competing cellular carriers, including smaller mobile virtual network operators such as Mint Mobile or Consumer Cellular that may offer the same quality of service at a lower price. Before you contact any carrier, it’s 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. Take On Basic DIY Projects to Lower Your Home Maintenance Costs
Rather than hiring 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 or a video and detailed instructions of how to do it will lead to significant savings.
16. Maximize Cash-Back Extensions and Digital Reward Portals
When you’re shopping online, consider installing a shopping browser extension like Capital One Shopping or Honey that helps you find the lowest prices across different retailers and automatically applies coupons and cash-back options at checkout. Many of these extensions will also alert you when the price of an item you intend to purchase drops. There are also digital reward portals and platforms like Swagbucks and Rakuten that give cash back on purchases and exclusive discounts.
17. Conduct a Quarterly Audit to Cancel Unused 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 four times a year 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. Make Sustainable Swaps Like Refillable Water Bottles to Cut Costs
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.
You can also bring your own reusable bags to the grocery store every time you shop to help reduce even more waste. You may also save money since some places now charge for shopping bags.
19. Utilize Free Community and Digital Resources in Your Area
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, ebooks, activities, and in some cases, passes to state parks and other nearby attractions. You can also use their computers and networks to go online.
You can even take some online courses for free if you audit them on platforms like Coursera, Khan Academy, and MIT OpenCourseWare.
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. Swap Your Expensive Gym Membership for Free Workout Alternatives
Instead of paying big bucks to work out at a gym, cancel your membership and work out at home or outside. Even if you got a great deal, gyms take money out of your bank account every month, whether you go or not.
Explore fun, low-cost ways to get fit, such as walking/jogging/biking around your neighborhood, lifting free weights at home, and taking hikes.
21. Save Your Spare Change for a Surprising Financial Boost
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 and round-up apps automatically round up your purchase to the nearest dollar, then transfer the difference into your savings account.
22. Skip Alcoholic Beverages at Restaurants to Significantly Lower Your Bill
Ordering a cocktail or a glass of wine (or two) 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 want a drink, local beer, “house wine” options, and happy hour cocktails are usually the cheapest options.
23. Seek Out Free or Low-Cost Family Entertainment Near You
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. Commit to a 30-Day “No-Spend” Challenge to Reset Your Habits
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. 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. Implement Easy Home Hacks to Reduce Your Monthly 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 dripping faucets or running toilets, turning off lights whenever you leave a room, and washing your clothes in cold water instead of warm or hot water. Once you see a difference in your monthly bills, you’ll be encouraged to carry on and look for more ways to cut energy use.
26. Adjust Your Tax Withholdings to Optimize Your Monthly Cash Flow
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 (see more about this below). Revisit your withholdings and put that extra money into your own bank account.
27. Plan a Relaxing Staycation Instead of an Expensive Getaway
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 by visiting attractions in your area, 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. Discover Budget-Friendly Ways to Celebrate Your Financial Wins
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. Optimize Your Accounts to Avoid Wasting Money on Unnecessary 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. Negotiate Better Deals on Almost Anything
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?”
31. Use Windfalls to Save Faster
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.
32. Time 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. Consider 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. For example, as of May 2026, the average APY on a high-yield bank account is about 4.00% compared to an average 0.61% APY for a traditional savings account.
Saving Money with SoFi
Interested in opening an online bank account? When you sign up for a SoFi Checking and Savings account with eligible 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, named the #1 Bank in the U.S. for the fourth year in a row by Forbes (2026).* Enjoy up to 3.10% APY on SoFi Checking and Savings.
FAQ
What are the best ways to save money in 2026?
Some of the best ways to save money in 2026 include tracking your spending to see what expenses you can cut back or eliminate, automating your savings by setting up an automatic transfer from your checking account to your savings account each month, negotiating for better rates on cell phone and internet plans, delaying purchases for 30 days to prevent impulse spending, and using shopping browser extensions that automatically apply coupon codes, compare prices across retailers, and track price drops.
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 unexpected event (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 may end up living paycheck to paycheck.
About the author
Jackie Lam
Jackie is a seasoned personal finance writer and is based in Los Angeles. She is an accredited AFC financial counselor. Her previous work experience includes writing articles on personal finance — her work has appeared in USA Today's Blueprint, Business Insider, BuzzFeed, CNET, Forbes Advisor, Salon.com, and more. Read full bio.
Photo credit: iStock/Chaninan Boongate
SoFi® Checking and Savings is offered through SoFi Bank, N.A. ©2026 SoFi Bank, N.A. All rights reserved. Member FDIC. Equal Housing Lender.
^Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 5/28/26. 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.
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We do not charge any account, service, or maintenance fees for SoFi Checking and Savings. We do charge transaction fees for outgoing wire transfers, Instant Transfers, and global remittance transfers. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
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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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