We are always looking for ways to save a buck here at NerdWallet. We've interviewed experts, run our own experiments and done research on it.
Turns out, small changes can add up quick. Let's jump into ways to cut spending.
Budget money to become a saver
1. Create a budget
"Get a system in place so you don’t have to think too much about money," said Durriya Pierce, a certified financial planner at Fruitful Advisory. One way to manage your money is to follow a budget. NerdWallet's free budget template is a great place to start, but a piece of paper works fine, too.
The 50/30/20 budget is a popular method: 50% of your after-tax income goes to necessities, 30% to wants and 20% to savings and any debt payments over the minimums. It’s flexible, so if you exceed these percentages, you can make adjustments or pick another budget system.
2. Set savings goals
Set a specific and realistic goal — no goal is too small. Your goals could include adding money to your retirement savings, tackling debt with extra payments or saving up for holiday gifts.
Use a savings goal calculator to see how much you’d have to save each month or year to reach your goal. Then, put your savings into a sinking fund, so you can easily track your progress.
Meet MoneyNerd, your weekly news decoder
So much news. So little time. NerdWallet's new weekly newsletter makes sense of the headlines that affect your wallet.
3. Track spending
Saving money is tough if you don't know how much of it you've been spending in the first place. Keep track of your monthly cash flow — your income minus your expenditures. Many budget apps can help you track spending.
When her household spending felt like it was getting out of control, NerdWallet writer Amanda Barroso signed up for a budgeting app that gives couples a shared view of their finances. She and her husband went line-by-line to see exactly where their money was going each month — and getting a bigger household picture was a huge advantage.
» See your expenses and income in one place with the NerdWallet app
4. Keep savings in a high-yield savings account
Put your money in a high-yield savings account. This type of account earns an above-average interest rate on deposits, which can help your bank balance grow faster than with traditional options.
Barroso said her Ally high-yield savings account is the hub of her family savings.
"We keep our emergency fund there and have sinking funds for predictable expenses, such as home improvements, car maintenance, holiday shopping and travel," she said.
You can look for a savings account that has buckets, which let you put money toward specific areas or goals. When Barroso’s savings goals change, so do her buckets.
» See our picks for savings accounts with buckets
5. Automate transfers
"Everything should be on automation," said Pierce, the CFP from Fruitful Advisory.
This makes savings consistent and easy, especially when you’re working toward specific goals like paying off debt, building an emergency fund, or saving for a down payment.
Set up automatic transfers either through your bank or direct deposit from your paycheck. Pierce said you'll be surprised how much money you'll be able to save.
Tackle debt to save on interest
6. Pay off high-interest debt
What kind of debt is considered high-interest? Anything with an interest rate above 8%, according to Experian. Credit card debt and some personal loans fall into this category.
The good news is that NerdWallet's Consumer Outlook Report found that 30% of Americans plan on paying off one or more of their debts in full in 2026. That could free up money in their budgets to achieve other financial goals.
Speed up your debt repayment by making extra payments, or paying more than the minimum payment when you can, and you’ll save money on total interest paid.
7. Lower your student loan payments
If you have student loans, enrolling in a different repayment plan tied to your income or family size could lower your monthly payments to a manageable level.
For example, Barroso is married, but files her taxes separately to keep her husband’s income-based student loan payments as low as possible. They miss out on some of the tax benefits of being married, but for now, it’s the best solution for their budget.
Other options include refinancing student loans, enrolling in autopay to trigger an interest rate discount and making extra payments so you can unload the debt faster, which cuts the overall interest you’ll pay.
8. Refinance your mortgage
If you own a home and are able to get a lower interest rate, refinancing your mortgage could save you several hundred dollars each month. But it’s important to consider other factors, such as the current interest rates, if you’re trying to decide when to refinance a mortgage.
Use NerdWallet's mortgage refinance calculator to find out how much you could save. While refinancing comes with some initial costs upfront, such as application and appraisal fees, they may be able to be recouped over time, once you start paying less each month.
Cut the cost of monthly bills
9. Prep for grocery shopping
A little work before going to the grocery store can make a big difference. Barroso said she was already shopping at discount grocery stores, such as Aldi, to save, but adding a grocery list app was a game changer.
She said using the app encouraged her and her husband to check the pantry while making the shopping list. This cut down on impulse purchases and buying food they didn't need.
Look for coupons (yes, they are still a thing) and join loyalty programs to maximize savings as you shop.
» Learn how to save money on groceries
10. Lower your TV and internet bills
Review what you’re spending on TV and internet and assess if you’re actually using the features you’re paying for.
Many cable and internet companies are willing to adjust pricing to keep you as a customer. Writer Tommy Tindall found a stripped-down and slightly slower internet service from Xfinity called Now Internet. He switched and now saves $180 annually over what he used to pay.
» Here's a script that can help guide your phone call to your provider
11. Switch to a cheaper cell phone plan
When you’re ready to save, there’s probably a cheap cell phone plan out there that can meet your needs.
Tindall, who is always looking for a deal, switched from T-Mobile to its lower-cost Mint Mobile brand and went from paying $1,080 per year to paying $480 per year.
12. Reduce your electric bill
Want to lower your electric bill? Consider what Tindall did.
"I put my thermostat on a schedule and stopped touching it," he said. "I cut down my bill by walking over to my thermostat once and using the 'schedule' feature to set the air to 65 degrees during the day."
The U.S. Department of Energy estimates you can save as much as 10% on your energy bill by going up or down 7-10 degrees, depending on the season.
13. Cancel unnecessary subscriptions
According to a NerdWallet survey on subscriptions, more than half of U.S. adults (55%) plan to significantly decrease the subscriptions they have to save money in 2026.
NerdWallet writer Erin El Issa found $1,470 a year in savings after doing her own audit. She started by making a list to flag recurring expenses. Then she looked for easy wins.
“My low-hanging fruit included a news app that I used just for games, a paid podcast I didn’t vibe with anymore and a few subscriptions of my husband’s (after checking that they wouldn’t be missed).”
» Learn more about Erin's subscription audit
Save money when you shop
14. Map out major purchases
You can save by timing your purchases of appliances, furniture, cars, electronics and more according to annual sale periods. If you're an Amazon Prime member, you can check out Prime-exclusive sales in the summer and fall.
It’s worth confirming whether a deal is actually a deal by tracking prices over time. You can use a shopping browser extension to automate the deal-tracking and couponing process.
For example, the Camelizer extension from Camelcamelcamel is a favorite of many Nerds. It makes it easy to view prices over time on Amazon, and the PayPal Honey extension will automatically find and apply coupons while you shop online.
» Time your purchases right with our shopping calendar tool
15. Delay purchases with the 30-day rule
One way Barroso curbs overspending is by giving herself a cooling-off period between the time an item catches her eye and when she makes the purchase.
“I track my no-spend days in my paper calendar and keep a note on my phone where I list all the things I wanted to buy but didn’t,” Barroso said. “At the end of the month, I tally up the cost to get a sense of what I’ve saved.”
Consider putting the item in your online shopping cart and then walking away until you’ve had more time to think it over. (You might even get a coupon code when the retailer notices you abandoned the cart.)
If 30 days seems like too long to wait, you can try shorter periods like a 24- or 48-hour delay.
16. Add friction to make online shopping harder
Barroso used a Brick for a month to block access to shopping apps on her phone.
"I cut my personal spending by $300," she said. "I put it all in our sinking funds, rather than let it slip away toward impulse purchases."
Adding these small barriers gave her more time to pause and think if the item in her cart was something she actually needed. You can try the same.
Try deleting your saved billing and credit card information, or removing your Apple Pay from your devices so you have to enter details each time.
17. Stock up on household supplies when they’re cheap
It can feel like you’re constantly buying items like dishwashing soap, paper towels or toiletries.
Tindall uses major sales like Prime Day to stock up on things he regularly buys. A couple bucks off on a handful of necessities, like Breathe Right nasal strips and batteries, adds up.
You can do this too, by tracking your inventory of household supplies and stocking up when they’re on sale. If you’re an Amazon shopper, check the “buy it again” section in your cart for ideas. It may be cheaper than rushing to buy them last-minute when they’re selling at full price.
18. Shop consignment and thrift stores
Thrift and consignment stores sell previously owned items for less than they would be at a traditional store. At consignment shops, you could also bring in your own stuff to sell.
Last Christmas, Barroso set a goal to find as many items from her kids’ Christmas lists as she could at consignment shops. She scored $350 worth of holiday toys and books for just $100 by shopping secondhand.
Whether buying at a consignment or thrift store, compare prices to ensure you’re getting a reasonable discount.
» MORE: Tips for secondhand shopping
19. Get creative with gifts
The holidays and birthdays can hit our budgets hard, but there are ways to plan for gifts.
Financial influencer Katia Chesnok said a few years ago, she decided to do a no-gift Christmas for adults in her family.
"I baked, wrote letters, hosted a potluck and planned small experiences instead. No one missed the store-bought gifts, and my stress dropped to zero."
Barroso buys toys, art supplies and books when they’re on sale and keeps them in her storage closet. That way, she’s ready for the next kid’s birthday party.
20. Find ways to get free items
Free is probably editor Pamela de la Fuente's favorite word.
She said she got a nice wine rack, dining room light fixture, and kids toys from Buy Nothing groups. It also helps you pare down your clutter. You can exchange items locally for free with Facebook Buy Nothing groups and programs such as The Freecycle Network.
Check for these opportunities on Nextdoor, Facebook Marketplace and Craigslist, too.
» Load up: We have a whole list of ways to get free stuff
21. Cash in on your birthday
Birthday freebies and discounts could score you free food or rewards to redeem on purchases from your favorite stores and restaurants. If you've been keeping a wishlist of things you want to buy, this might be the time to use those discounts to save.
We searched Reddit, and posters there favor the Starbucks free treat.
Spend less money on transportation
22. Lower your car costs
Tindall got tired of his car note, so he sold his car on Facebook Marketplace, even though he still had a loan on it. He took the payment, paid off the loan and replaced it with something older and cheaper. The process was easier than you might think.
Shopping around for car insurance and refinancing your auto loan can also help you cut costs.
23. Reduce gas costs
Try using a gas app or buying groceries from a store that offers fuel points to save money. Warehouse stores, like Costco and Sam's Club, typically offer lower prices on fuel, so fill up before you stock up.
Barroso has been using the “eco” mode on her mini van for months, trying to stretch the time between fill-ups.
24. Use car sharing services
If you need to rent a car, consider a rental car alternative, such as car-sharing services Turo or Getaround. Research to see if car-sharing services work out to be cheaper than larger rental companies.
If you don’t drive much, you may also find using car-sharing services is less expensive than owning a car or using taxis or ride-shares.
Find cheaper ways to be entertained
25. Minimize meals out
Considering stopping or reducing restaurant meals. If you do eat out, look for ways to save: Happy hour discounts offer great deals and splitting an entree can lower your bill. Skipping alcoholic beverages can also keep dining out costs low.
If you have kids, pick restaurants where kids eat free — just be sure to call and find out the details first.
26. Reduce your meal delivery, too
"After housing and childcare, the third-largest expense I often see is food delivery — Uber Eats, DoorDash, and similar services," said Valerie A. Rivera, another certified financial planner.
It's understandable for busy professionals, said the founder of FirstGen Wealth, but it also adds up. Think about what would happen if you redirected the $50 every month that was going to takeout and put it in a savings account, she said.
You don’t have to go cold turkey: Start slow. Instead of ordering meal delivery four times a month, for example, limit yourself to just once.
27. Get discounts on entertainment
Take advantage of free days at museums and national parks to save on entertainment costs.
Your local community might offer free concerts, movies and other events. Find free (or cheap) things to do by checking listings at libraries, churches and websites such as Facebook and Eventbrite.
You can also ask about discounts for older adults, teachers, students, military members or veterans, first responders and more.
Can’t find a discount? Get creative. Barroso asked for a zoo membership for Christmas. The gift let her family enjoy events throughout the year without any financial worries.
28. BYO snacks
Having new experiences can be expensive. Bring your own coffee or food to avoid event pricing. This is even more true if you have small kids — packing their favorite snacks and water bottles can save money and prevent meltdowns.
As a mom to two young kids, Barroso’s purse is always filled with snacks and water bottles. “I really try to limit convenience purchases when we’re out as a family,” she said.
“I know my kids get a little annoyed with me when we don’t get a treat from the concession stand after every soccer game, but every dollar in our budget counts.”
Where to get help when you can't afford to save
If you’re budgeting and living frugally and still don’t have enough left to save, consider getting help.
Government. Government assistance programs may help you get discounts on utility bills, fund your food budget, offset child care expenses and more. Keep in mind that many of these government programs are available only to families considered to be low income.
Learn about what counts as low income and how to potentially get money from the government.
211. Visiting 211.org or calling 2-1-1 will connect you with local experts who can explain and potentially refer you to social service programs that may save you money. This confidential, 24/7 resource may help with expenses related to housing, health care, emergencies, crises and food.
Lenders and service providers. If you can’t pay your bill to a lender or service provider, call the company’s customer service line. Ask for help in the form of lowered or deferred payments, rebates, assistance programs or an alternative payment plan. Here’s exactly what to say when you call a utility company.
Meet MoneyNerd, your weekly news decoder
So much news. So little time. NerdWallet's new weekly newsletter makes sense of the headlines that affect your wallet.Frequently Asked Questions
How much should I save each month?
Saving from 10% to 20% of your paycheck is a solid goal, but the details can get more complicated. Learn how to determine how much you should save each month.
How can I save money fast?
Saving money quickly often comes down to consistency — and automating your savings can help take the mental effort out of it. Next, make your money work harder by upgrading to a high-yield savings account.
How can I build an emergency fund?
Building an emergency fund starts with setting a savings goal and working toward it. Financial experts agree that saving three to six months of expenses is ideal, but that can feel overwhelming. The most important step is to start. Try setting a goal to save $500 and build up from there. If available, use your company’s direct deposit feature to automatically move money into your savings each month.
If your bank offers the options to create savings buckets, set aside your emergency fund so you know how much you have and aren’t tempted to pull from it to pay for non-emergency expenses.
Article sources
NerdWallet writers are subject matter authorities who use primary, trustworthy sources to inform their work, including peer-reviewed studies, government websites, academic research and interviews with industry experts. All content is fact-checked for accuracy, timeliness and relevance. You can learn more about NerdWallet's high standards for journalism by reading our editorial guidelines.
- 1.Experian. What Is Considered High-Interest Debt?. Accessed Jul 13, 2026.
