100 Smart Money Hacks to Lower Your Expenses

Food & Groceries

11. Plan Meals Before Shopping

Create a weekly meal plan before grocery shopping to eliminate waste and prevent impulse buys. Planning helps you use overlapping ingredients efficiently and ensures you only buy what you’ll actually consume.

12. Make a Grocery List and Stick to It

Write down exactly what you need based on your meal plan and commit to buying only those items. Studies show shoppers who use lists spend approximately 23% less than those who shop without them.

13. Don’t Shop Hungry

Eat before grocery shopping to reduce impulse food purchases. Shopping on an empty stomach increases food spending by 15-25% on average, as hunger significantly impacts decision-making and willpower.

14. Buy Store Brands

Choose store-brand products instead of name brands for savings of 20-30% on nearly identical items. In blind taste tests, consumers often can’t distinguish between store brands and their pricier counterparts, particularly for staple items.

15. Buy Fruits and Veggies in Season

Purchase produce when it’s naturally abundant to get the best prices and flavor. Seasonal fruits and vegetables can cost 30-50% less than out-of-season options, which must be shipped from distant growing regions.

16. Buy Non-Perishables in Bulk

Stock up on pantry staples like rice, beans, pasta, and canned goods during sales. Buying larger quantities of these long-lasting items can save 15-40% per unit compared to smaller packages.

17. Use a Freezer for Storing Meat Deals

Invest in a chest freezer to take advantage of meat sales. When you find great deals, buy extra and freeze for later use, potentially cutting your protein costs by 30-50% through strategic purchasing.

18. Learn to Can or Freeze Extra Food

Preserve surplus produce through canning or freezing techniques. These preservation methods help you take advantage of seasonal abundance and prevent food waste, stretching your grocery budget throughout the year.

19. Shop Farmers Markets Near Closing for Deals

Visit farmers markets in the final hour of operation when vendors are more willing to discount remaining inventory. Many sellers offer significant markdowns to avoid taking products back home, sometimes up to 50% off morning prices.

20. Grow Some of Your Own Food

Start a small garden with high-yield, easy-to-grow plants like herbs, lettuce, tomatoes, or beans. Even container gardening on a patio or windowsill can yield impressive returns—a small herb plant can provide many times its cost in herbs.

Housing & Utilities

21. Ask for Lower Rent When Renewing

Negotiate your rent when renewing your lease, especially if you’ve been a good tenant. Some landlords will reduce or maintain current rates rather than risk vacancy or finding a new tenant, potentially saving you hundreds annually.

22. Use a Smart Thermostat

Install a programmable thermostat to automatically adjust temperatures when you’re away or sleeping. These devices can reduce heating and cooling costs by 10-15%, paying for themselves within a year.

23. Switch to LED Light Bulbs

Replace incandescent bulbs with LEDs, which use 75-90% less energy and last 15-25 times longer. Though LEDs cost more upfront, each bulb saves significant amounts in electricity over its lifetime.

24. Seal Gaps Around Doors and Windows

Apply weatherstripping and caulk to eliminate drafts around windows and doors. This simple DIY project costs a modest amount but can reduce heating and cooling costs by 10-20% by preventing temperature-controlled air from escaping.

25. Turn Down Your Water Heater

Lower your water heater temperature to 120°F (49°C) from the standard 140°F (60°C). This adjustment reduces energy consumption by 6-10% while still providing plenty of hot water for showers and cleaning.

26. Take Shorter Showers

Limit showers to 5-7 minutes to conserve water and heating energy. Each minute of shower time uses several liters of water, so cutting just a few minutes daily saves thousands of liters and reduces utility bills substantially over the year.

27. Wash Clothes in Cold Water

Use cold water for laundry to eliminate heating costs, which account for 90% of washing machine energy usage. Modern detergents work effectively in cold water, and this switch can save substantial amounts on your energy bills every year.

28. Hang Clothes to Dry When Possible

Air-dry laundry on a clothesline or drying rack instead of using a dryer. This practice eliminates one of the home’s largest energy consumers, generating significant savings annually while extending clothing lifespan.

29. Unplug Things Not Being Used

Disconnect electronics and appliances when not in use to prevent “phantom energy” consumption. Standby power can account for 5-10% of residential electricity use, adding a significant amount to your utility bills yearly.

30. Use Power Strips with On/Off Switches

Connect multiple devices to power strips that can be completely shut off with one switch. This makes it easier to eliminate standby power drain from entertainment centers and home office setups.

Transportation

31. Check Gas Prices with Apps Before Filling Up

Use apps to find the lowest nearby fuel prices. Price differences between stations can be substantial, potentially saving significant amounts per fill-up or hundreds annually.

32. Keep Tires Properly Filled for Better Gas Mileage

Maintain recommended tire pressure levels. Underinflated tires reduce fuel efficiency by approximately 0.2% per 1 PSI below recommended levels and wear out faster.

33. Combine Errands Into One Trip

Group multiple stops into single outings to reduce total mileage and cold-start fuel waste. Planning efficient routes can cut transportation costs by 10-15% through reduced fuel consumption.

34. Use Buses or Trains When Possible

Take public transportation for regular commutes when available. Monthly transit passes often cost less than just the parking expenses associated with driving, not counting fuel, maintenance, and vehicle depreciation.

35. Share Rides to Work

Establish a carpool with colleagues who live nearby. Sharing driving duties cuts everyone’s commuting costs by 50-75% through divided fuel expenses and reduced vehicle wear and tear.

36. Walk or Bike for Short Trips

Use human-powered transportation for journeys under 2 miles. Beyond saving money, this habit improves health and eliminates parking hassles for short errands that comprise many household trips.

37. Learn Simple Car Fixes Yourself

Master basic vehicle maintenance like oil changes, air filter replacement, and wiper blade installation. These simple DIY tasks can save hundreds annually compared to shop rates while extending vehicle lifespan.

38. Shop for Car Insurance Yearly

Compare auto insurance rates annually with aggregator sites. Most consumers find savings of 10-30% when shopping around, especially if their driving record has improved.

39. Look Into Pay-Per-Mile Insurance if You Drive Little

Investigate usage-based insurance programs if you drive less than 10,000 miles annually. These plans base premiums on actual mileage, potentially saving low-mileage drivers 30-50% compared to traditional policies.

40. Keep Your Car Longer Before Buying New

Maintain your current vehicle beyond the loan payoff date instead of trading up. Each additional year without car payments saves thousands while avoiding the steep depreciation hit new vehicles take.

Entertainment & Subscriptions

41. Share Streaming Services with Family

Split subscription costs for streaming platforms with family members using official family plans. Services like streaming platforms offer multi-user options that can reduce per-person costs by 50-75%.

42. Switch Between Streaming Services Instead of Having All at Once

Rotate through different streaming platforms throughout the year instead of maintaining multiple subscriptions simultaneously. This “subscription cycling” approach delivers the same content access at a fraction of the cost.

43. Use the Library for Books, Movies and More

Take advantage of free library resources including books, audiobooks, magazines, movies, and educational materials. Modern libraries also offer digital lending through apps.

44. Look for Free Events in Your Community

Seek out no-cost entertainment options like community concerts, festivals, museum free days, and park activities. Local event calendars often list free or low-cost events.

45. Check for Free Museum Days

Visit museums, zoos, and cultural attractions during their designated free admission periods. Many institutions offer monthly free days or evening hours with waived entry fees to increase accessibility.

46. Host Potluck Meals Instead of Eating Out

Organize shared meals where each guest brings a dish instead of meeting at restaurants. Potlucks create the same social experience at roughly 25% of the cost while allowing everyone to showcase their specialties.

47. Cancel Subscriptions You Don’t Use

Review all recurring charges and eliminate services you haven’t used in the past month. Subscription monitoring tools can identify and help cancel forgotten or underused services.

48. Ask About Discounts for Students, Military or Seniors

Inquire about special pricing for qualifying groups when purchasing entertainment. Many venues, attractions, and services offer substantial discounts that aren’t always prominently advertised.

49. Use Browser Tools to Find Coupon Codes

Install browser extensions and coupon-finding tools to automatically test discount codes during online checkout. These tools find and apply the best available deals without requiring manual coupon hunting.

50. Buy Electronics During Big Sales

Purchase entertainment devices during major shopping events like Black Friday, Cyber Monday, or Prime Day. Patience and strategic timing can yield savings of 20-50% on the exact same products.

Health & Wellness

51. Exercise Outside or at Home Instead of Paying for a Gym

Create a home fitness routine using bodyweight exercises and outdoor activities instead of paying for a gym membership. Basic equipment like resistance bands and dumbbells provides versatile, effective workouts at a fraction of recurring membership costs. If you enjoy the gym community, consider hybrid approaches like pay-per-visit passes, community recreation centers, or gym-sharing memberships that provide facility access at lower costs than premium memberships.

52. Use Free Workout Videos on YouTube

Access thousands of professional exercise routines on platforms or app rather than paying for fitness classes. These offer comprehensive programming for all fitness levels, from beginners to advanced.

53. Compare Drug Prices at Different Pharmacies

Check medication costs across multiple pharmacies. Prescription prices can vary by 70% or more between pharmacies in the same area, in some countries, even for generic medications.

54. Ask for Generic Medicines

Request generic alternatives to brand-name prescriptions when medically appropriate. Generic medications contain the same active ingredients but typically cost 80-85% less than branded versions.

55. Get Regular Checkups to Prevent Bigger Health Issues

Maintain preventive care appointments to catch potential problems early when they’re less expensive to treat. Annual physicals, dental cleanings, and recommended screenings help avoid costly emergency interventions.

56. Use Wellness Programs at Work

Take advantage of employer-sponsored health initiatives, which often include free health screenings, fitness reimbursements, and incentives for healthy behaviors. These programs frequently offer financial rewards that can offset healthcare costs.

57. Use Tax-Free Health Savings Accounts if Available

Contribute to HSAs or FSAs if eligible to pay for medical expenses with pre-tax dollars. This tax advantage effectively gives you a 15-37% discount on healthcare costs depending on your tax bracket.

58. Practice Stress Management to Prevent Health Problems

Stress-reduction techniques like meditation, or deep breathing can reduce stress-related health issues. Regular stress management helps prevent costly conditions exacerbated by chronic stress.

59. Cook at Home More for Better Health

Prepare meals at home using whole ingredients to improve nutrition while reducing food costs. Home-cooked meals typically contain healthier ingredients and cost significantly less than restaurant food.

60. Drink Enough Water to Stay Healthy

Maintain proper hydration to support overall health and potentially reduce unnecessary snacking. Drinking water instead of purchased beverages saves hundreds annually while supporting optimal bodily functions.

Technology & Communication

61. Keep Your Phone Longer Before Upgrading

Use smartphones for 3-4 years instead of upgrading every 1-2 years. Modern phones remain capable much longer than previous generations, and avoiding the upgrade cycle saves hundreds or thousands annually.

62. Buy Refurbished Electronics

Purchase certified refurbished devices from reputable retailers and manufacturers. These products typically cost 15-50% less than new models while offering similar warranties and performance.

63. Compare Phone Plans Once a Year

Review mobile service options annually to ensure you’re not overpaying. Carrier competition has intensified, with smaller providers and virtual network operators offering comparable coverage at 30-60% lower costs than major carriers.

64. Try Prepaid Phone Plans

Switch to no-contract prepaid plans that often provide the same network coverage as traditional plans but without expensive financing agreements. Prepaid options typically save a significant amount monthly per line compared to contract plans.

65. Use Free Wi-Fi When Safe

Connect to secure public Wi-Fi networks when available to reduce mobile data usage. Strategic Wi-Fi use can allow downgrading to lower data plans, potentially generating substantial monthly savings.

66. Bundle Internet, Phone and TV Services

Combine telecommunications services with a single provider for multi-service discounts. Properly structured bundles (without unnecessary services) typically save 10-25% compared to separate services.

67. Call Providers Yearly to Ask for Better Deals

Contact current service providers annually to request promotional rates or loyalty discounts. This simple negotiation often yields meaningful monthly savings without changing services or providers.

68. Use Free Software Instead of Paid When Possible

Replace expensive software with free or open-source alternatives. Many high-quality programs exist for most computing needs, from office productivity to graphic design and video editing. These substitutions can save substantially in upfront or subscription costs.

69. Cancel Landline Phone if You Only Use Mobile

Eliminate traditional home phone service if you primarily use mobile phones. This redundant service adds a significant monthly expense for connections that often go unused in mobile-first households.

70. Fix Devices Instead of Replacing Them

Repair broken electronics when economically viable instead of automatically replacing them. Simple fixes like battery replacements or screen repairs typically cost 10-30% of replacement costs while extending device lifespan.

Shopping & Clothing

71. Build a Small Wardrobe of Mix-and-Match Clothes

Create a capsule wardrobe with versatile pieces that can be combined in multiple ways. This approach reduces clothing expenses by 30-50% while simplifying daily outfit decisions.

72. Shop at Thrift Stores for Good Used Clothing

Purchase pre-owned clothing from thrift shops, consignment stores, or secondhand platforms. Quality secondhand items typically cost 50-90% less than retail while reducing environmental impact.

73. Learn Basic Sewing for Simple Repairs

Master fundamental mending skills to extend garment lifespans. Basic repairs like replacing buttons, fixing hems, and patching small tears can keep clothing functional for years longer than discarding at the first sign of wear.

74. Buy Off-Season Clothing at Clearance Prices

Shop for seasonal items at the end of their season when retailers offer deep discounts. End-of-season sales typically feature markdowns of 50-80% on items that will still be perfectly useful next year.

75. Avoid Cheap Fast Fashion That Wears Out Quickly

Invest in better-quality clothing that lasts longer instead of disposable fast fashion. While quality pieces cost more initially, their cost-per-wear is dramatically lower than frequently replaced cheap alternatives.

76. Swap Clothes With Friends

Organize clothing exchanges with similarly-sized friends to refresh wardrobes without spending. These “swap parties” provide the excitement of new items without the associated costs.

77. Use Cashback Credit Cards for Planned Buys

Pay for necessary purchases with cards offering rewards in categories that match your spending patterns. Strategically used cashback cards effectively discount all purchases by 1-5% when paid in full monthly.

78. Wait for Big Sales for Major Purchases

Exercise patience when buying expensive items by timing purchases with major sales events. Predictable sales cycles for most product categories offer 20-50% savings for consumers willing to plan ahead.

79. Research Products Before Buying

Thoroughly investigate potential purchases through trusted review sites and consumer resources before buying. Informed purchasing prevents costly mistakes while identifying the best value options.

80. Skip Extended Warranties on Most Items

Decline retailer-offered protection plans on most consumer products. These high-margin add-ons typically cost 10-30% of the product price while providing coverage that overlaps with manufacturer warranties and credit card benefits.

Banking & Credit

81. Switch to a Bank with No Monthly Fees

Move accounts to financial institutions that don’t charge maintenance fees. Online banks and digital-first institutions typically offer fee-free checking and savings with competitive interest rates.

82. Use Direct Deposit to Avoid Check-Cashing Fees

Set up automatic paycheck deposits to eliminate check-cashing costs and potential holds on funds. Direct deposit provides immediate access to your money while often qualifying accounts for fee waivers.

83. Only Use ATMs in Your Bank’s Network

Withdraw cash exclusively from your bank’s ATMs or fee-free networks to avoid surcharges. Out-of-network ATM fees can add up quickly with both the ATM owner’s fee and your bank’s fee combined.

84. Pay Off Credit Cards in Full Each Month

Eliminate interest charges by paying credit card statements completely each billing cycle. Carrying balances results in APRs of 18-29%, making purchases effectively more expensive than their sticker prices.

85. Ask for Fee Waivers if You Miss a Payment

Contact financial institutions promptly if you incur fees to request one-time forgiveness. Many banks will waive occasional overdraft or late fees for customers in good standing who make the request.

86. Ask for Lower Interest Rates on Your Debt

Negotiate with creditors for reduced interest rates, especially if your credit score has improved. A simple phone call can sometimes reduce rates by 2-5 percentage points, potentially saving hundreds or thousands on existing balances.

87. Check Your Credit Report Yearly for Errors

Review your credit reports annually. Identifying and correcting errors can improve scores by 20-100 points, qualifying you for better rates on future borrowing. If you are in the US you can can find information at USA.gov, in the UK this article from Citizens Advice will guide you. If you’re not in the US or UK, search for similar information in your country.

88. Set Up Auto-Pay for Bills to Avoid Late Fees

Establish automatic payments for recurring bills to prevent costly late charges. Late fees can be substantial for each occurrence and can also damage credit scores if reported.

89. Keep Emergency Savings in a High-Interest Account

Store emergency funds in high-yield savings accounts rather than traditional savings or checking. Online high-yield accounts often pay 10-20 times the interest rate of brick-and-mortar banks on the same deposits.

90. Try Credit Unions Instead of Big Banks

Consider member-owned credit unions as alternatives to commercial banks. Credit unions generally offer lower fees, better loan rates, and higher savings rates due to their non-profit structure.

More Savings

91. Implement a “No-Spend” Challenge Monthly

Designate one weekend or week per month as a “no-spend” period where you commit to using only what you already have. This resets spending habits, forces creativity with existing resources, and typically saves $100-200 monthly while breaking impulse spending patterns.

92. Make Gifts Instead of Buying Them

Craft personalized presents rather than purchasing ready-made gifts. Handmade items often carry more sentimental value while costing significantly less than retail alternatives.

93. Batch-Cook and Freeze Meals During Energy Off-Peak Hours

Prepare multiple meals simultaneously during utility off-peak rate periods, then freeze for later use. This strategy reduces both food and energy costs by 20-30% through bulk preparation and cooking during lower-cost electricity hours.

94. Refinance High-Interest Loans

Restructure existing debt to secure lower interest rates when market conditions or your credit score improves. Refinancing can reduce monthly payments and total interest paid over the life of loans.

95. Implement a “One-In-One-Out” Inventory System

Adopt a simple inventory management system where purchasing a new non-consumable item requires identifying an existing item to sell or donate. This creates natural spending friction and generates additional income from unwanted items..

96. Disable Background App Refresh

Many apps refresh content in the background, consuming data without your knowledge. Turning off background refresh for non-essential apps prevents them from using mobile data when not in use.

97. Update Apps Only on WiFi

Set your device to download app updates only when connected to WiFi. On Android, open Play Store > Profile > Settings > Network preferences > Auto-update apps > select “Over Wi-Fi only.” On iPhone, go to Settings > App Store > disable automatic updates or set to WiFi only

98. Learn Basic Appliance Maintenance

Master simple appliance maintenance tasks like cleaning refrigerator coils, replacing filters, and descaling water heaters. These quick maintenance tasks extend appliance lifespan by years and improve efficiency by 10-15%, preventing costly replacements and excessive energy use.

99. Learn to Do Basic Home Repairs

Master fundamental household fixes like unclogging drains, fixing leaky faucets, or patching drywall rather than calling professionals. DIY repairs typically save 70-90% compared to service calls.

100. Be Happy with What You Already Have

The last of our smart money hacks is about mindfulness. Practice contentment and mindful consumption instead of pursuing constant upgrades or new acquisitions. Appreciating existing possessions eliminates the financial and environmental costs of unnecessary consumption.