Personal Finance

How to save money: 9 easy ways

save money

Image via: Pexels

What are some easy ways to save money? Our guide outlines 9 simple habits you can change that will put a lot of extra dollars in your pocket.

Find more personal finance guides, tips and advice

Have you made the resolution to finally save some money? Or do you just want to make less unnecessary expenses in general? Then this list is for you. With these 9 tips you will save money in no time!

Whether you have finally made the decision to do something for your retirement provision or you want to build up a small financial cushion – sometimes you don’t have to do anything special, or even earn more. Often it is enough if you look at your everyday habits.

9 easy ways to save money

Don’t worry, it’s not about your beloved take-away coffee – don’t let that be taken from you if you really enjoy this ritual – but about habits that you are not even aware of. Or things that you don’t deal with and that cost you a lot of money. So that this doesn’t happen again in the future, we have 9 tips for you to save money.

Keep records

Let’s start with what is probably the most important savings tip: keep a budget book. If you don’t feel like constantly writing down and adding up all expenses in a book, you can of course also do the whole thing conveniently using the app. It is only important that you take stock of the situation for at least a few months.

Quite often we are not really aware of our expenses. If, on the other hand, you keep a book, you can see in black and white what you spend your money on – down to the last euro. If you use an app, it usually even categorizes your expenses. So you can quickly see what you are spending the most money on and, if necessary, reduce certain expenses. 

Some apps even help you by setting a daily budget. You can then simply tell the app how much money you have available per month, how much you want to save, how high your fixed costs are and the app does the rest.

Be careful when buying online

It used to be said that you should pay cash so that you don’t lose track of your finances. If you constantly pay by card, it is much easier to spend a lot of money – without even knowing exactly how much you have spent. In this era, however, the new enemy is not paying by card, but online shopping.

Whoops, you have 15 items in your shopping cart, the final amount is in the three-digit range, but you tell yourself that it wouldn’t be a problem because you can send everything back. In the end you even send some back, but the rest always remains – and this rest becomes quite expensive in the long run.

For whatever reason, we are a lot more picky when shopping in stores and therefore don’t take any items with us so quickly. So the solution to saving is obvious: take your time shopping and buy in the store. You will see, in the end you probably saved a three-digit amount and supported the local retail trade. So karma points are included.

Drink tap water

We spend a lot of money on mineral water in the long run. Let’s assume that 1 liter of mineral water costs 50 cents (which it doesn’t, we usually pay significantly more), if we now drink the recommended two liters a day, we come to an amount of 364 euros per person per year. If you add to the fact that most of us do not live alone and also receive regular visitors, you quickly notice that we can easily triple this amount.

So you could save four figures by simply drinking tap water. In most regions in the developed world, the water quality is so good that you can drink it without hesitation. You should only inquire about your pipes from the landlord if you live in an old building. Old lead pipes can release small amounts of pollutants into the water.

Tip: If you don’t want to do without sparkling water, you can simply buy a device that adds carbonic acid to the water. At around $100, the purchase price is not cheap, but if you factor in how much money you save because you no longer have to buy mineral water, the device pays for itself very quickly.

Save on the big things …

Many people try to save on the small and therefore resort to the cheapest type of pasta in the supermarket, but buy an expensive car or live beyond their means. Of course, small amounts can also be bought, but if you find a car that consumes less and thus saves you $100 a month, you could buy spaghetti that is 20 cents more expensive.

So: think carefully about whether the big items in the monthly budget such as rent or transport costs could not also be cheaper. As a guideline, the rent including ancillary costs should only make up a third of your monthly budget and the following applies to the car: The purchase price may not exceed six net salaries.

… but be aware of when you should spend more!

It sounds a bit paradoxical, but sometimes you save money if you spend more at first. This is especially true for items that are used often. Kitchen knives are an example. Those who buy cheap here simply end up buying a lot. They wear out quickly, frustrate you, and you have to replace them relatively quickly. If, on the other hand, you focus on quality, you not only save valuable cooking time, but they also last for decades, which saves you a lot of money in the long term.

Change your contract

Whether insurance, electricity or cell phones – old contracts tend to offer worse conditions than new ones. So you lose hard cash if you don’t take the trouble to look for a new provider at the end of the contract period. In theory, you don’t even have to change your provider. In the case of telephone contracts in particular, it is often enough to cancel so that your provider can make you a better offer of his own accord.


Old bread, leftover pasta – in our throw-away society we often don’t even think about recycling leftover food. You can make a delicious savory or sweet casserole with old bread and you can also simply fry the noodles with a little egg and you have a new lunch. That saves us a new purchase and thus money.

Pick up the larger pack

The volume discount is not a myth. Those who buy more actually buy cheaper. So from now on suppress the instinct to pick up the smaller package, because you believe that this amount is enough for you and you are afraid that you will have to throw away the rest. Just cook a larger portion and then freeze the rest. By the way, you have killed two birds with one stone: You have bought cheap and you can take the rest to work later as lunch, which means you don’t have to buy expensive and inferior fast food.

Don’t buy at eye level

In the supermarket, the items that you can find at eye level are usually the most expensive. But that doesn’t mean they are the best. If the products are important to you, then find out the best manufacturer on the Internet beforehand and if not, just buy one shelf level lower or higher as a rule of thumb.