31 Practical Ways To Save Money Without Cramping Your Lifestyle

A single tip can save you hundreds of dollars. A combination of even a few bits of advice can help you save more and even improve your financial outlook. With that said, here's a big list of 31 practical ways to help you save money now without having to live an undesirable lifestyle.

Get your finances on track

The first thing you need to do to save money is to get your finances on track. You can only do this by having a complete picture of how much you earn, where your earnings are spent, and your financial goals.

1. Get a solid financial plan

One of the reasons why most people find it so difficult to save money is because they don't have a real financial plan going. Without a financial plan, you don't have a bigger picture of where your money is being spent, how much you should be saving, and any goals toward financial freedom. The only way to effectively manage your finances is to sit down and spend time setting up a realistic financial plan you could follow.

It might sound like tedious work, but spending a few hours drafting a budget now can save you hours of regret in the future for not putting your finances in order. If you don't have any idea how to make a budget, there are several free financial plan templates online that you can download. There are also mobile apps that can help you track down your spending and help you create a financial plan.

2. Automate your finances

Most of us find budgeting incredibly boring and uninteresting. The good news is, we all use our gadgets daily. So why not make better use of technology by automating your finances.

After you've created a budget plan, you can now set up an automated process where everything is taken care of by your bank. This way, you don't have to worry about paying your bills on time or separating your monthly savings from your paycheck. You can streamline the process by enrolling your bills (credit cards, electricity, cable, etc.) to your bank account. You can also ask your employer to set aside a part of your earnings to your 401k or other high-yielding savings account. The best part of automating everything, the surplus cash you get from your monthly spending, you can completely use (or save) guilt-free.

3. Set your priorities

The things that you regard as more important than others is where your money will go. Is preparing for your children's future important? Comfortable retirement? A house by the beach? Own business? Financial freedom? Sit down and make a list of your financial priorities and the steps you are going to take to achieve it. To help you stick with your goal, create barriers to unnecessary spending. Make it difficult for you to get things you don't actually need.

4. Create a buffer fund

Sometimes no matter how much you budget, there are unexpected expenses that come up that you did not account for. Like when your car breaks down, water leak, or an emergency. That is why it is critical to also create a buffer fund for irregular expenses so you do not dip into your savings or charge it to your credit card.

Save more by spending less

The more common way to save money is to spend less. Being frugal is being smart about your spending. Some expenses have wiggle rooms that you can bring down and expenses that you can avoid altogether by opting for alternatives.

5. Cut the landline

In the past few years, technology has grown by leaps and bounds that we are already living in the digital age. Unless you are running a business in your home, you may want to cut the landline. A landline, on average, costs around $20 per month. That means you can save up to $240 a year just by removing your house phone. Home phones are almost unnecessary and redundant since most people use smartphones already.

If you are running a home-based business, consider other means to reach out to your customers. Social media sites like Etsy, Pinterest, Facebook, and Instagram are some online platforms to showcase your products. Free messaging apps like Viber, FaceTime, Messenger, and Skype are also good options for calling and messaging clients.

6. Cancel underutilized subscriptions

Do you still have a pile of unread magazines sitting around your house? A gym membership you seldom use? Cable channels you rarely watch? If you do, you are wasting money on subscriptions that are underutilized and possibly creating clutter in your home.

Canceling underutilized subscriptions can easily save you hundreds of dollars annually. There are going to be some services that you will use daily like the internet, electricity, and water that justify a monthly payment. But the reality is, there are subscription services, no matter how convenient, that you are not getting much value for your money. Furthermore, there are services like landline, gym, and cable that have alternatives you can get on the cheap or for free by simply being resourceful.

7. Negotiate your bills

Learning the art of negotiation is a valuable asset to have. Hone your skills on an everyday level by negotiating your loan, car insurance, and asking if you can get a better deal. A few minutes of conversation can have the potential of saving you money in the long run. You can use your negotiating skills not just on your bills but also in asking for a raise, refund on a product, discount on big purchases, etc. It is a very valuable skill with a very practical, daily-life application.

8. Buy in bulk

If you have items you regularly buy, it is very practical to buy them in bulk. Especially for non-perishable items like laundry detergent, trash bags, tissue, and paper towels. And perishable items with long shelf life such as dried or canned beans, pasta, grains, and other pantry essentials. More often than not, buying in bulk gives you a much better per-unit price as compared to buying them with the retail price in smaller packaging. And since you frequently use them, you are unlikely to run out of the item.

9. Pack a lunch

This is one of the most popular methods to save money yet the most overlooked. You might have read it on almost all the "how to save" list you could find, and the reason is that it really works. It can help you save money by just adding a little bit of work. To make this tip effective and convenient, you have to dedicate a day to planning, shopping, and prepping your meals. This way, you have your lunch (and snack) ready to go. Following just this one tip can easily help you save thousands of dollars each year.

10. Eat locally-sourced, in-season produce

The farther your food travels, the more expensive it gets. And this is true for out-of-season produce where it needs to be sourced somewhere else. If you want to save tons on your groceries, try to reacquaint yourself with the harvest season.

The cheapest way to get your fresh veggies and fruits is to buy them locally and when they are in season. It can be the local farmer's market or your grocery. The point is to use the produce that is abundant and cheap in your area. But if you are craving for that exotic mango or pineapple, buying them frozen is a cheaper option.

11. Start a garden

Another way to cut back on your food spending is to start a garden. Not only will it provide you food, but gardening is scientifically-proven to relieve stress. You can start small and do a potted herb garden in your kitchen if planting in your yard seems daunting. Start with sturdy herbs that have many uses like basil, rosemary, thyme, dill, and mint. Once you get the knack for it, try growing other plants like tomatoes, lemon, and eggplant that you can grow in your yard or on big pots.

12. Plan for nights when you are too stressed to cook

There will be days when you are just too tired and don't feel like doing anything else, much more cooking. On those days when you don't have the energy, have frozen meals ready that you can heat up and eat. You can make double, triple, or quadruple batches of your favorite meals that freeze well like casseroles, lasagna, soups, and stews.

13. Be selective on grocery deals

Just because it's on sale doesn't mean you have to buy it. Choose and pick only the most beneficial items from the grocery deals. And by that, I mean items that you would actually use. Grocery stores have a weekly circular where you can check out what is on sale. Planning your meals around what is on sale for the week will help guide you on what meals are cheapest to make. For instance, if chickens are on sale, you can buy double what you would normally buy and make more chicken-based meals. To have variety, check the internet for more recipes and food inspiration.

14. Use coupons and coupon apps

To save as much money as possible, use coupons and digital coupons on apps in conjunction with your grocery flyer. Doing so will double your savings--from the initial sale and with the use of the coupon. If you don't like clipping coupons, there are coupon apps and websites that allow you to digitally 'clip' coupons and use it with your grocery circular.

The same principle applies to your online purchases. If you don't have a coupon, google for promo codes first before you click the checkout button. A quick google search might give you a discount on your item or allow you to have access to freebies.

15. Use sales to your advantage

Nope, this does not give you the green light to jump on every "sale" you see. It's about having the proper mindset to take advantage of what is on sale. To do so is to create a list of things that you want to buy. It can be gift items for parties you know you will have to go to, things you want to buy for yourself, and presents for friends and families when the holiday season rolls around. This way, your purchases are spread out throughout the year allowing you to take advantage of sales rather than the sales taking advantage of you.

16. Buy generic

Often, generic or store name brand is cheaper than the name brand products. This is true for most groceries and even over-the-counter medicines. Generic store brands have the same ingredients as most of their name brand counterparts. Just be sure to read the label and double-check on the ingredients, so that you are getting the same product.

17. Always opt for quality

Buy quality products even if it's more expensive. Sometimes getting the cheaper stuff makes us spend more. You can just look back at all the times you skimped and have to replace the item earlier than you have anticipated. This applies to expensive purchases like new appliances or a new phone and not so expensive items that you will use regularly. I don't mean having to buy the designer leather bag as opposed to buying a knockoff. I mean buying a bag that may not have a fancy name but is good quality.

If you are unfamiliar with a brand, check it online. Read the reviews, forums, and while you're at it, compare prices from different stores that sell the same item. This way, you get to hit two birds with one stone--knowing you are buying a quality item and saving money at the same time.

18. Don't be a captive consumer

Prepare in advance if you know you'll be in places where prices are marked up for their target customers. This could be the movie theater, airport, zoo, sports arena, and other touristy places. You can either bring your snacks and water bottle or eat at home before you head out. It may not prevent you from buying, but at least it can limit your cravings.

19. Buy used items whenever you can

Used gears, equipment, and other items can be just as good. You can check thrift stores, flea market, used equipment stores, consignment shops, you get the gist. Go there first when looking for potential items. You can find slightly used gears or clothes that were worn once that cost less than a fraction if bought brand new. You can also look at corporate auctions for commercial-grade pieces of equipment like photocopying machines, printers, desks, chairs, etc. Commercial-grade items are good investments as they are designed to withstand rigorous use. The only caveat for this tip, you have to have a good eye and inspect every item you buy.

20. Avoid financing as much as possible

Delaying instant gratification by saving up for what you want cultivates discipline and patience. Traits you'll need to build your wealth. Thus, it is best to save up for things you want to buy and avoid financing at all costs. Saving up and paying in cash can help you negotiate to get better deals, especially for big-ticket items. This will show the seller that you mean business and have the money to back it up.

21. Share memberships, subscriptions, and online tools

If you like investing in and equipping yourself with new skills but want to save on online courses or business tools, share the cost with like-minded friends or family members. Both of you can buy a subscription and share access for half the cost. If someone you know already have access to a paid tool, you can ask if they'll be interested to share their access and offer online paid tool you are already subscribed to that they will also be interested in.

22. Live small

Another way that will have a big impact on your effort to save more money is to tame your cost of housing. Choose a home that fits your family's need. If you live alone, you do not need to have a four-bedroom apartment. The same way a family of four does not need a 5,000 sq. ft. of living space. When choosing a home or apartment, the smaller it is, the less it will cost to maintain. It will be easier to clean and requires less energy to cool and heat.

23. Maintain your appliances

Having your appliances undergo regular maintenance can help prolong its efficiency and lifespan. Your HVAC system, for instance, requires:

Monthly cleaning of filters which you can do on your own;
Seasonal check to prepare your unit for the change in the season, especially in the summer and fall;
Annual maintenance to inspect for leaks, clogs, dirt build-up, and if all the parts are still working properly. It is also the time to change the batteries on carbon monoxide detectors.

Maintaining your appliances can also be as simple as checking the dust buildup in vents of refrigerators and dryers. These little things will prevent appliances from breaking down and allows you to catch a problem before they become a disaster and cause you more money.

To make sure you don't overlook the maintenance schedule of your appliances, add it on your phone calendar app. Also, for appliances that need technical knowledge, have the maintenance done by an accredited professional. This is so you are assured on the quality of the job.

24. Check for warranties and free repairs

If something does breakdown, don't immediately run out to buy a replacement. Check if your appliance is still under warranty or if the company offers free repair. Some manufacturers are so proud of the quality of their products that they have 10-year or even lifetime warranty and offers free repair.

25. Limit your impulse purchases

A few small items, even if you got them on sale, can add up quickly. Much more for major purchases like a new entertainment system or a car. To avoid impulse buying, stay away from the mall if you have no plans on buying or need for anything. If you do go shopping, have a list of the things you need to buy so you have a clear idea of what you need to spend your money on.

If you are tempted to buy, talk yourself out of it. Do you need it or do you want it? If you think you need it, be sure you don't have others like it and that you will find joy in owning it. If you just want it, will you be able to have good use of it or will it add up to the clutter on your home?

26. Shop around before you buy

If you are planning to make a big purchase or subscription (car, home, internet service, bulk supplies, etc.), shop around for quotes. Getting at least three quotes before you buy will help you get the best rate for your purchase. Especially if you let the sales representative know that you are shopping around for options. This way, the representative will offer you a competitive price so they can have your business.

Earn more

A great way to increase your savings is to have other income streams. Having an entrepreneurial mindset will allow you to be more financially independent.

27. Find a side hustle

Do you have a hobby? Something you are passionate about? A skill you are good at? If you have free time, you can monetize your hobby or skill by making it a side hustle. You can turn your passion for baking, cooking, or crafting into a side business. If you're skilled in writing, graphic design, transcribing, or illustrating, you can look for freelance work online. There are online freelance jobs that offer project-based work and flexible working time.

28. Keep an idea notebook with you

It's a good practice to always keep a small notebook with you to jot down your ideas so you don't forget them. It can be a design plan, a business model, how to streamline workflow or a marketing tip you can apply to your side hustle. Being able to note your ideas as they come allows you to collect your best ideas. And sometimes it is from these ideas that you get other more brilliant ideas that you can apply now or in the future.

29. Declutter and sell your unused stuff

If you have decided to live small (see tip no. 22), chances are, you will need to tone down on your stuff. And even if you are not moving and decided to 'Marie Kondo' your life, decluttering will not only spark joy and save your sanity, living minimally can also earn you some cash. Trim down your clothes, sell old appliances you rarely use and books that you've already read. Instead of being a collector, be a 'seller.' Recoup some of the hard-earned cash that you wasted on your action figures or comic book collection.

30. Work out of a library or co-working space

If you are starting an online business or doing freelance remote projects, you can go to the library instead of hanging out in your favorite coffee shop which can get noisy and crowded. Libraries are a great place to work as they have free internet, quiet rooms, and other facilities for you to use. You also get access to thousands of books in case you need a reference or idea. This way, you don't have to rent an office space.

If the library is inaccessible, you can opt for a co-working space. You will have to pay for the time you use but, it is way cheaper than renting out an office space. Plus, you get to meet other like-minded individuals to exchange ideas and build your network.

31. Set aside a part of every windfall

Got a bonus from work? A big commission from a sale? A finished project from your side hustle? Set aside a part of it to put into your savings. Use the rule of thirds: one third goes to your savings, another to pay off debt, and the third is for you to spend guilt-free! Setting aside portions of every windfall for the future and instant gratification gives you balance. You get to save without feeling deprived, which will make you more motivated to continue in the same financial trajectory.