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Ways to Save Money

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Ways to Save Money

As a life coach, there are a number of different things I do to help my clients including sharing ways to save money. And, since a lot of new year’s resolutions focus on getting finances in order, what better tip than ways to save money to share for day 5 of 31 tips in 31 days?  Start here for Day 1.

Ways to Save Money

Here are some fantastic, lesser known ways that you can save a lot of money.  Remember, it all adds up.

  1. Sodas and drinks – buying soda and other drinks adds up fast!  Whether it’s coffee, soda, tea or any other beverage, if you aren’t bringing it from home, the dollars are just ticking up faster than you can drink that thing.  The best and least expensive alternative to all those extra beverages is to drink water.  Ok, maybe you live in an area where water, tap water, is really nasty.  Invest in a reverse osmosis machine or a water filter of some sort and filter the tap water to take in a reusable bottle.  If you must have soda or another flavored beverage, bring it from home.  Never buy soda at restaurants.  At $2 plus, they really hit the wallet.  If a family of 4 eats out twice a week, that can add up to over $800 in one year!
  2. Cooking – Turn the stove or oven off at least a few minutes before the end time for cooking.  There will be enough heat remaining to finish cooking your food.
  3. Bill Pay – Switch to online bill pay with automatic payments.  It may take a little discipline at first but once you are in the habit of making sure the money is in the account to pay all the bills, you will save a great deal on late fees and overdraft charges.
  4. Grocery Shopping – Shop during non peak hours.  When you shop during the peak hours of 4:30 pm to 7:30pm or on weekends, you end up spending more time in the store (waiting to get by people or back tracking for things you’ve forgotten) and end up spending more on things you didn’t need.
  5. Clothing/Household items – Shop for these things when they are out of season or on clearance.  The best time to get holiday decorations is after the holiday has ended.  There are some stores that offer incredible specials when you pay close attention to how their programs work.  One such store is
  6. Insurance – Car, home, life and even health insurance can be shopped around.  Don’t assume that, because you have been with a company for 10, 15 or even 20 years that they are giving you the best rates.  On the contrary.  Most of the time you will get your best rate by switching after 1 or 2 years.  You can save up to several hundred dollars a year and have no loss in benefit.
  7. More Insurance – While we are on the topic of ways to save money with insurance, consider your needs carefully when it comes to the extras.  A lot of forms of insurance just don’t make financial sense.  If you are a family with two vehicles, rental insurance while the second vehicle is being repaired may NOT be necessary.  If you rarely get chips in your windshield, glass coverage may not be critical.  Often times, these extra things can cost $5 or $10 a month.  If you don’t use it at least once a year, you could pay for the service in the money you saved.
  8. Electricity – Look into your electric company and find out if they have a time of use plan.  These are plans that will allow you to pay less for electricity used during off peak hours (usually noon to 7pm or 9 to 9pm weekdays).  If you can avoid running major appliances (dishwasher, oven, clothes washer/dryer) during the peak hours, it can save you a tremendous amount on your electric bill.
  9. Start a business – A lot of my coaching clients are small business owners and already understand the value of business deductions.  This option alone is HUGE!  Look into starting a small business and you can save thousands on your tax bills while making some extra money on the side.  Just remember to consult with a great accountant like Angela Snyder, the Taxanista.

There are a lot of ways to save money throughout our daily lives.  While it may only seem like a $1 here or $2 there, over the course of one year, it all adds up.  If you are looking to have someone help you with your budget, and more importantly, the mindset to stick to a sound budget, please contact us to find out about our coaching membership.

What are your favorite ways to save money?  What do you struggle with the most when it comes to cutting back on expenses?

Nicole Bandes

Nicole has scaled her own personal mountain to climb out of ordinary. For over 20 years, Nicole Bandes has studied the most effective methods to increase happiness and success in her own life and in business. She has gone on to helped thousands of people in their own personal journeys to reach their goals. Contact Nicole if you are ready to stop being ordinary and have a guided tour to reach your summit of success.

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12 Comments so far:

  1. Andy says:

    I particularly like the “switch the oven off” one because you could apply this principle in other situations ….. the iron, the bath etc …. it’s a different way of thinking …

  2. Franco says:

    These are great tip to follow and save money. I like what you said about having insurance with the car and everything. This is so important because I always damage my windshield and I need windshield replacement irvine , that why the tip that you cited gave me an idea. Thanks a lot for posting.

  3. Wow, what amazing tips! With the New Year coming, my resolution is to cut back on house expenses. Your useful guide is perfect to cut costs in very small sacrificing ways. I love your tips and realize that through very small sacrifice I may not be staring at red marks at the end of the month. Being in a position to have just a little after the bills are paid would be a very welcomed feeling. Things keep getting tighter around our household and instead of making major cuts I appreciate the little tips for changes I can make that will make a big difference.

  4. Edwin says:

    Thanks for the great info and sharing. This article is useful for me

    This was really things I used to be trying to find, and I’m happy to acquire here! Thanks for writing the information with us

  5. Edward Moore says:

    For me, you can save your money from knowing your priorities. Knowing your needs from wants. Invest your money on your insurances and start some small business. There are a lot of tips you can save your money but it still depends on you.

  6. Lee says:

    Hi Nicole
    The one I save the most money on is insurance by shopping around. I find every year now you have to change to get a new customer discount which quite often is up to about 30% it really annoys me how insurers are penalising their loyal customers by charging them more.

    Great advice thanks lee

  7. I think that a lot of people overlook insurance when they are trying to save money. Or they make poor decisions regarding insurance by getting really high deductibles. There are plenty of insurance companies out there, and they all want your business and are willing to compromise some things in order to get your business. Shopping around can help you find some really good prices on insurance. Ask questions and contact all of the insurance companies. Also, asking what your current company can offer you may also save you money without having to switch companies.

  8. Geri says:

    Amen! I think the same as well. Effective financial management starts with self-discipline. Knowing when to buy and how much to allot on a certain purchase does a lot of impact. Just because you have money for something does not mean you should buy it right off., There are things that can wait. We should be careful in knowing what these are.

  9. Jordan says:

    Hi Nicole Bandes, I was browsing the net then I came up with your blog. I was struck with this “ways to save money”. These tips are really useful and very helpful for me. I have no single regret that I visited your blog. I could apply some of these tips to save more money. Thank you so much for posting this. I will definitely share this to my friends. Keep it up!

  10. Fantastic ways to save money without facing family or financial problem. I like your all steps to save money specially buying soda and drinks. I think following your steps I really can save $800 a year. This is really nice way to save money.

  11. sam says:

    Really fantastic way to save money I got from here which I didn’t much more in before and I just want to gratitude to you for giving this valuable way to save money. Truly I have not followed so many ways to save money but from now I will implement your ways to save money and hopefully it will help me a lot. Thanks

  12. Diane says:

    Hi Nicole. Thanks for this wonderful post. This is really useful most especially nowadays that everything is expensive so we really need to save a lot of money. Getting a life insurance or a car insurance is really a smart move because definitely it will really help in saving money.

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