It’s 2019 and time to put some money saving tips into action! We have all been there, month after month, we are left with no extra cash after our expenses are paid, essentially living paycheck to paycheck. For many individuals, saving money is not a priority, but somehow, that big screen TV that we need immediately, our daily latte, and the gym membership that we rarely use, comes first. This is where a priority shift must take place, where your daily wants are pushed aside to make room for saving money, paying down debt, and achieving financial stability.

20 Incredible Money Saving Tips

To help you get started on your money saving journey, we have compiled a list of 20 money saving tips that can assist in making 2019 your year for financial success! Check out these money saving tips see which strategies work best for your financial situation.

1. Determine Your Money Saving Goals

There are many strategies for spending less money, but before you try to implement them, it would be wise to sit down and think about why you want to save money in the first place. Make a list of what your savings will go towards. Maybe it’s an emergency fund, your wedding, a home purchase, retirement, or to simply pay down debt.

Whatever your reasons for seeking out money saving tips, jot them down in the form of short and long term goals with target dates. Then, determine how much money you would need to set aside to reach these goals. This important step will give you something to work towards, and will be a great reminder of why you may be sacrificing while using these thrifty money saving tips.

2. Change Your Mindset from Spender to Saver

If you want to learn how to save money each month, you should realize that it’s more than just utilizing various frugal money saving tips. It’s also about having the right mindset. If you don’t make the mental shift from spender to saver, you may have a difficult time realizing that saving money is a priority, and more important than daily gratification or a desired lifestyle. When you make this internal shift to a saver, cutting back on your expenses will come more naturally, and you will be on the path to achieving your money saving goals for 2019.

3. Create a Budget to Help Cut Back on Spending

Now that you have your goals in place, and have a “saver” attitude, it’s time to create a 2019 money saving budget! Your budget should include all your expenses, as well as your income. Your budget will allow you to see exactly what is left over after the bills are paid, and this should prompt you to cut back on your expenses.

Budgets are crucial if you want to manage your money properly, pay down debt, and stay on track with your financial goals. Don’t think of a budget as a restriction of money, think of it as something that allows you to gain more control over your money!

4. Easily Automate Your Savings Plan

Money Saving Tips for 2019

This 2019 money saving tip will enable you to save money without even thinking about it! Many employers who utilize direct deposit can arrange it so a percentage of the employee’s paycheck goes directly into a savings account. If this is not offered, make arrangements with your bank to do auto transfers. Automatically putting aside money before it lands in your checking account is a smart and hassle-free method of saving money. Make sure that you are set up with a savings account that offers a high interest rate that will automatically increase your savings over time.

5. Utilize Money Saving Apps

The majority of people are glued to their phones these days, so it only makes sense to use your phone as a money saving tool. There are various money saving apps out there, and your favorite stores most likely have one. Apps such as RetailMeNot supply hundreds of coupons that can be applied while shopping online or in a physical store. So if you have been wondering if there is an easier way to save money with coupons, this is it! Additionally, apps allow you to join reward programs, as well as receive sales notifications. Check out your app store today to see where you can start saving.

6. Save Big Time with Easy Tax Deductions

As far as money saving tips go, this is a big one! Taking advantage of tax deductions can decrease your taxable income, which in turn can lower, or even remove any taxes you would have owed. Additionally, you may get a hefty tax return for 2019 if your deductions add up to a considerable amount. There are actually many things you can deduct if you own a home or business. Also, charitable donations can be written off, as well as certain medical expenses. Consult with your tax advisor to find out what deductions you can apply this year.

7. Save More with Lower Interest Rates in 2019

Money saving tips such as this one will place you ahead of the game with your finances. Simply gather all your loan and credit card interest rate information and start the process of attempting to have your rates lowered. Look into refinancing your mortgage or car loan with a lower rate, this can potentially save you thousands. Also, if you have a school loan you might be eligible for a .25% interest rate deduction. Furthermore, you may be able to lower your credit card interest rates just by simply asking. If your credit score has improved over time, your chances are even better.

8. Shop Smart When it Comes to Big Ticket Items

If you are going to make a big purchase in 2019, you will need to be a smart shopper to stay on top of your financial goals. We have a few outstanding tips on how to increase your savings when making a major purchase such as furniture, electronics, a car, and so on. First things first, be proactive and do extensive research and compare brands, read reviews, and ask around. This will ensure you are getting the best quality for the best price. Secondly, timing is everything! Plan on making your big purchases on major sales days such as Black Friday or 4th of July. Lastly, always check for coupons and promo codes.

9. Make Wise Gift Requests to Help Reduce Spending

This is not only a clever money saving tip, it’s also considered a fun strategy. When Christmas or your birthday month rolls around, and you are asked what you would like, request gift cards to your favorite stores! If you need new clothes, you just found your funds to go shopping. Better yet, if you have been trying to figure out how to save money on groceries, ask each person for a gift card to your local grocery store. If you happen to ask 5 people, you may receive around $200 to go towards your grocery bill for that month!

10. Adjust Your Grocery Shopping Habits

Your grocery bill is an unavoidable expense, so we would like to share a few ideas on how to save money on food so you can trim your grocery bill down:

  • Never go food shopping while you are hungry
  • Always plan out your meals for the week
  • Create a grocery list and stick to it
  • Check if there are any weekly specials
  • Use coupons from your weekly mailers
  • Download your grocery store app for shopper rewards
  • Don’t purchase pre-packaged food
  • Buy grains in bulk when possible
  • Buy generic if the quality is comparable

11. Pack a Lunch and Save Thousands of Dollars

Does bringing your lunch to work save you money? Yes, it can actually save you thousands of dollars! Depending on where you go out to eat on your lunch break, you could end up spending around $3000 a year. Over the course of 5 years, that adds up to $15,000, and that’s enough money to buy a car! These lunch purchases may seem small on a daily bases, but they add up to a huge loss if you are trying to put money aside, or pay down debt. The answer is to simply pack a lunch! It will not only save you money in the long run, but it’s also a lot healthier.

12. Skip the Daily Visit to Your Local Coffee Shop

Money Saving Tips for 2019

If you have been trying to figure out how to save money on coffee, you are off to a good start, because believe it or not, this daily money saving tip could actually be the most difficult one to put into action! If you are an avid coffee or tea drinker who loves the convenience, atmosphere, and perfect taste of your local coffee shop drinks, you may want to take a look at your list of goals for some needed motivation.

You might be donating $1000 to $2000 a year to these coffee shops! Instead, this could be used to pay off debt or build up your savings. To reduce your costs in this area, you can get creative in trying to brew your own perfect coffee from home. Buy a hand-held milk frother, they are only $15 and will give you that same great coffee shop foam that you look forward to every day.

13. Drive the Speed Limit to Keep Costs Down

Depending on how much driving you do in a given week, you may be able to save $20 to $100 a month by just reducing your speed. Fuel-efficient driving is not only a smart money saving strategy that will help you cut expenses, it can also save you from getting expensive speeding tickets.

Make sure your tires are inflated properly, get regular oil changes and tune-ups, and don’t weigh down your trunk with heavy items. These strategies all add up to make your car more fuel-efficient and less expensive to drive.

14. Cancel Your Gym Membership to Build Your Savings

If you have been looking into how to stop spending money on things that are not necessary, you may want to evaluate your gym attendance! Many people hang on to their gym memberships even though they have not shown up in months. If you are attending on a regular basis, and would like to save some cash, try working out at home. There are various high-quality workout videos online that you can take advantage of, along with DVDs that can be purchased. Invest in home weights or other equipment you may need, and consider it part of your money saving plan.

15. Ditch the Cable and Explore Money Saving Options

Are you one of those individuals who pays premium prices for a cable package, only to watch a few of your favorite channels? If so, you should evaluate your needs and tailor your subscriptions around them. You may want to consider ditching your cable and just subscribing to services such as Netflix or Amazon Prime TV. These options will cost you under $15. Or, utilize other alternatives such a Roku streaming TV, or Redbox DVDs. With $100 being the average cable bill, you will certainly benefit from the savings.

16. Say Goodbye to Your Landline Phone

This cash saving tip is an obvious one, but even so, it can be overlooked. Most of us grew up with landline phones, and so it can feel a little uncomfortable to cut the cords and say goodbye. In today’s day and age, almost everyone has a cell phone, so why pay for two phone sources. If you find you don’t utilize your landline phone much, disconnecting it will increase your savings and keep more money in your bank account.

17. Make Your Home Energy-Efficient

If you are are interested in household money saving tips, this one is your best bet. You can save a tremendous amount of money in 2019 by just making your home more energy-efficient. In addition to being mindful about the amount of energy you use, you can also do the following to increase your savings:

  • Install energy-efficient appliances
  • Utilize a tankless water heater
  • Install a programmable thermostat
  • Use LED light bulbs for an 80% energy savings
  • Change air filters regularly
  • Check if you qualify for 2019 energy-efficient tax credits

18. Always Try to Do Home Repairs Yourself

This great money saving tip will have you wishing you would have utilized it earlier! When something breaks down in a home, we are naturally inclined to call a repair person. We write a check for their services and forget about it. The end result is less money in our hands. Try this money saving challenge – look up how to repair your next home repair issue on YouTube before calling anyone to see if it’s feasible to fix it yourself. You might be surprised to find that some home repairs are pretty simple.

19. Take Advantage of Free Entertainment

You can have fun and save with free entertainment, all while keeping your budget under control. You don’t have to pay the big bucks to entertain your family, friends, or date, there are lots of outstanding free entertainment options out there, you just have to seek them out. Here are a few 2019 money saving tips for having a great time without the cost:

  • Check for nearby “free admission” museums
  • Search the community calendar for upcoming festivals
  • See if a local park offers activities or movie nights
  • Look through local newspapers for free events or concerts
  • Plan a day at the beach or go on a hike
  • Invite friends over for a BBQ and movie

20. Watch the Savings Pour in with a Water Filter

Water bottle drinkers can easily spend up to $200 a year purchasing their water. Over the course of 5 years, that’s $1000 that could have been used for things such as paying down debt or saving for an emergency fund. The truth is that most people live in areas where their tap water is drinkable. At the same time, a water filter will bring your tap water up to bottled water status. Small money saving tips such as this one can really add up over the years, and are worth looking at.

Take Action Now and Start Saving!

Money Saving Tips for 2019

We realize that sometimes the hardest part of saving money is getting started, so it is our hope that our 20 money saving tips have inspired you to take action now. Make 2019 your year for turning your finances around, saving money, paying off debt, and enjoying life!
When you start saving money, don’t forget to put some aside in an emergency fund!