Looking for practical ways to save more? Here are 7 simple money-saving tips that can add up fast.

Are you wondering how you can save thousands of dollars per month? This post covers 7 shockingly simple money saving tips that will likely save you thousands of dollars. These are the same money saving techniques I used to pay off over $150,000 in debt in only 16 months. Coupled with my favorite ways to make passive income, these money tips paired with extra income will help you build wealth faster!
This post is all about money saving tips.
1. Use Credit Cards (Responsibly!)
My number 1. money saving tip is to use credit cards responsibly! This is probably the simplest way to save hundreds, if not thousands of dollars, every single year, and that's why I list it as my number 1 saving tip.
I have a love/hate relationship with credit cards. Like so many things, you can use them or abuse them. Wealthy people know that in order to become rich, you must use credit cards responsibly.
This first tip is to get a rewards credit card that will give you the most cash back for the things you're already spending money on. For me, that's groceries/food followed by travel. Last year, I was able to save over $550 by using those credit cards! By getting 3% back on groceries, for example, you can save hundreds of dollars a year! If you spend $1,000 on groceries per month, that's $360 saved annually, and without ANY work or sacrifice on your part. After you make the switch, your work is done. All that's left to do is cash your rewards.
Important disclaimer: Credit cards are only advantageous if you use them correctly, which means NEVER carrying a balance, and I mean never. If you are using credit cards to carry debt, you need to cut them up pronto and switch to a debit card. The second part of this money saving tip is to never carry a balance on your credit card. Any rewards points or savings will be eaten up tout de suite with a SINGLE interest payment, so make sure you pay off your card every single month in full. If carrying a balance is a temptation, switch to debit while you resist habits.

2. Use Ibotta
Another superrrr easy and effortless money saving tip- use Ibotta. For most people, after housing, food is the next largest monthly expense. Stop eating your money and start saving with Ibotta.
Ibotta is a free app that offers you cash back on groceries and other everyday items. You simply download the app and start shopping. I downloaded it for the first time when I was paying off my debt, and I still kick myself for not having done it sooner. I wish I'd started sooner. Since I'm going to buy the items anyways, it's basically free money. I've had the app for almost 3 years and have saved over $900!
Ibotta allows you to cash out as early as $20, which is really easy to do. They also offer a lot of rewards and incentives that you can participate in. And, as I mentioned, the app is completely free!
The trick to actually saving money with Ibotta is to avoid buying items you otherwise wouldn't. Just like I outline in my money saving tips for groceries, sticking to a grocery list is key!
3. Watch What (and Where) You Eat
This is a money saving tip you've likely heard before and will likely hear again. That's because this money saving tip can make a big dent in your budget! Are you eating out often? Are you now on a first name basis with the employees at Mr. Chow's Chinese takeaway? Are you pledging the fraternity of Chi Potle?
Most of us are (unknowingly) eating our income and savings away! Food and groceries are one of the largest monthly expenses for the majority of people, which means it is one of the best places to look for extra savings. With takeout, restaurants, and overpaying at the grocery store, you are probably spending (more like wasting) hundreds of dollars on food! No wonder some financial experts are always shrieking about excessive taquito consumption.
Eating out less often will save you thousands of dollars a year. Cook at home. Have a frozen pizza in the freezer at all times for emergencies when you're too busy or tired to cook, avoiding take out and delivery as the default. The next time you want to eat out, save money and say DiGiorNO to yourself! Read on for more of my TOP tips for saving money on groceries.

4. Say Goodbye to Debt
My fourth money saving tip is to pay off all of your debt and then make it a point to never go into debt again! Debt is the ultimate wealth killer! It is nearly impossible to build wealth while carrying debt. That's why I made it my #1 goal to pay off all my student loans as fast as possible, and I did! I was able to pay off over $150,000 in student loans in under 2 years using these exact techniques.
Debt is a wealth killer because you are not paying the price of the product, you are paying the price of the product PLUS interest. This means in the long run, you are massively overpaying. Every dollar you pay in interest, you should just imagine lighting that money on fire. It is a complete waste of your hard-earned cash! Over the course of your lifetime, avoiding debt can add up to six figures over time. Adopt this mindset- if you can't pay cash for it, you can't afford it. It should be an easy mindset to adopt because it's true.
Not only are you losing hundreds of dollars in interest, but how much of your monthly expenses go to minimum payments on debts you have? Imagine having all that monthly income freed up, for good!
Really want to feel the pain? Go through your debts and add up how much money you've paid in interest so far... Ouch.
Avoiding debt (and therefore paying interest) is a surefire way to save you thousands of dollars and tons of stress!
5. Buy 'Em Used
Numero Cinco of my top money saving tips- Buy 'em used!
Do you aspire to stay broke and middle class until the end of time? Do you look at the broke friends and family members in your life with pangs of envy at their financial hardship? If so, you're going to want to buy exclusively new vehicles. Or better yet- lease them!
All kidding aside, your car purchases might be killing your ability to become rich. Buying used vehicles only is one of the BEST and simplest money saving tips of all time. New cars are a complete WASTE of money, as are car leases. Paying cash for a used vehicle is king, every. single. time.
You might be thinking, that can't be true because used cars means tons of maintenance costs. Actually, this has been studied time and again and research shows that used vehicles, even with slightly more maintenance needs, cost FAR LESS than buying a new car. And don't get me started on leasing AKA the most expensive way to operate a vehicle.
When you buy a brand new car, the car's value immediately starts sinking like a rock. Picture Rose dropping the Heart of the Ocean into the sea- that's your car's value. Down she goes. Never to surface again. This is precisely why so many people find themselves promptly underwater on their car loans. Cars are a rapidly depreciating asset. They are an expense that, for convenience, most people have to pay. However, rich people know that the smartest way to use a car is to buy a used, reliable vehicle.
Want to save yourself THOUSANDS? Pay cash for a used car. No exceptions. We want to BE rich, not look rich.
6. Shop For Insurance
Who would have thought shopping would be a money saving tip? Well, when it comes to insurance, shopping is key!
Do you have car insurance? Renters insurance? Homeowners insurance? If you have any insurance plans, you can save hundreds of dollars by shopping around for more affordable rates. These are the best and cheapest renter's insurance companies I recommend.
I was able to save $120 a year by calling my car insurance company and asking if I was eligible for a lower rate. $120 for one 20 minute phone call with a gecko? Not too shabby. If you've been with your current insurance company for a while without any accidents, you can, and should, do this too. This doesn't just apply to car insurance, either! Insurance companies want your business, so don't be afraid to try and negotiate for a better rate.
Set aside an hour to shop around online for alternate insurance quotes. One switch can save you tons of money! And it's a very low effort money saving tip.
Can you afford to raise your deductible and lower your premium? This is another great way to reduce insurance expenses.
7. Don't Be a Slave to Your Impulse Buys
You wake up tired, sweaty, head pounding, filled with regret and shame. Only it's not a hangover, it's the result of a night of impulse shopping on Amazon.com! Why did I need a new set of bath towels again? But at 2am with insomnia, they seemed essential...
Are you giving your life savings away in monthly installments to a Mr. Jeff Bezos? It's time to get your act together!
Impulse buys are bleeding you dry! And how many of those prime day purchases that seemed so great at the time ended up unused or trashed, their only purpose being to clutter up your closets and garage? Websites like Amazon are meant to keep you shopping far beyond your original intention, and it works!
One of the best money saving tips is to STOP impulse buying. I was able to do this by creating a rule that I don't buy anything unless it's been in my shopping cart for at least 3 days. If I really need it, I can order it on the 4th day. Most of the time, I end of removing the item from my cart or saving it for later. The heat of the moment has passed. I can see clearly now Prime Day has gone...
What is your debt free date? Let me know @ShesFinanciallyFree1 !
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