Top 10 Tips to Save Money for Better Living In 2024


With the prices of every commodity on the rise, it becomes very obvious that it’s time to keep a tab on your expenses. Above all saving out of choice and not due to financial constraints is a good way to grow wealth. Here you will find 10 money-saving tips that will help you save some money. The tips are simple to follow and will eventually teach you how to spend less and get more.

1. Tracking your expenses

Source: The Budget Mom

First and foremost is to know where your money is going as it would be impossible to commence cutting expenses. For a period of 1 month, keep a note of every pie you spend. If all your bills are covered in the first 2 weeks of a month then you can simply cut the tracking period to 2 weeks only. This will help you know where the major expenses happen. Apart from the fixed expense that you make during the first 2 weeks every month, you will also come to know how much money is spent on other miscellaneous things by the end of the month. You can then decide where you can cut your expenses. You can also look into deals on current monthly recurring bills like cable, phone, car loan, mortgage, phone, mobile, etc, and change to ones that can lower your expenses. Try to use comparison sites when shopping around to find the best price. Try tools like this Calculator from Money Saving Pro and see how much you can save!

2. Use your Credit Cards wisely

Source: I Will Teach You To Be Rich

Nowadays, there are numerous kinds of Credit Cards with benefits. Cash Back Cards, 0% interest cards, 5% back on gas, etc. Cash Back card will give you money back on all purchases made using the card. Keep debt for a month for 0% interest for a year. If you drive more than 180 miles a week, you are eligible for a 5% back on your gas refill payment using the linked card. In fact, having different cards for different deals and rewards is a good idea. When you use these effectively, savings can be huge. Try to get the maximum rewards by using the right card for the right purchase.

3. Mortgage Payment with a little extra

Source: Money Crashers

If you have a mortgage for 30 years with an interest of 6% and the loan amount is $250000. You can save about $55600 by the time you clear the loan. In fact, you will also be able to pay off the loan 5 years earlier. All you need to do is pay an extra $115 per month over and above the installment. Imagine this little change can save you a huge sum of money and at the same time reduce the repayment period.

4. Eat Out less

Source: Light Speed Blog

Eating out is always fun, convenient and easy but this comes at an extra cost. Preparing a meal at home is both healthy and can save money. Try to visit restaurants once or maximum twice a month. You can buy pre-cooked packed food ready to eat from a shopping center and save that extra money that is paid for services at restaurants. This way you don’t have to cook, save money and get a chance to spent time at the dining table with your family and friends.

5. Join Health Care plan by Employers


Save over 30% by being a part of your employer’s Flexible Health Care spending plan. Under this scheme, you have to put in a fixed amount into the plan for certain expenses like pay for over the counter medicines, co-pays, prescription cost and more with pre-tax money. Do check the plan thoroughly before enrolling in one of the options as the Flexible Health Care spending plan might not be good for all.

6. Club your Insurance Policies

Source: Thrasher Real Estate

Usually, we buy insurance from different insurers. But did you know that buying all insurance like car insurance, life insurance, home insurance, and others from the same insurer can get you a better deal? Combine all your existing policies with a common insurer and save on insurance costs.

7. Submit Tax Return early

Source: The Baltic Times

Do not wait for the last moment to submit your tax return. Submit early and get a refund early. Look for a good accountant who may charge you somewhere between $150 to $350. The fee may vary depending on your location of residence. The amount you pay to the accountant might be covered up if you have a good accountant. If you would like to file the tax returns yourself, then investing in good software is advisable.

8. Use Coupons

Source: Watches

Using a coupon when you shop is the easiest way to save money. You can find a coupon for both online and offline shopping on sites such as A simple search in any reputed search site will display many sites that have coupons to offer. If you are more of a local store shopper, then you will have to cut out coupons from magazines and newspapers and present it at the store. For online shoppers it’s a simple click, copy and paste.

9. Save on electricity by making Home Energy-Efficient

Source: Medium

This is where a onetime investment can save you lots in the long run. Checking for proper insulation and adding more to it can help a lot. The room will stay cooler and heated for a longer period of time. With lesser air leakage, you can save more than 40% of your electricity consumption bill. For more savings, you can seal windows and doors with weather stripping. Use power-saving bulbs instead of the old light bulbs. All these small changes can save you money.

10. Consume more Water

Source: Medical News Today

The only thing that is virtually free and good for everything is water. Having more water is good for your health. Sounds too simple, right? Actually you can save hundreds of dollars every month by using water in place of soda or even coffee. This does not mean that you totally stop coffee or soda, it’s simply substituting it with water at times and all it does is good for your system.

The above list of my top 10 ways of saving money is not that difficult to follow. Being smart in how you control your finances is the formula for a wealthier living.