9 Tricks That Save A LOT of Money FAST

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12 Feb 2025

Saving money fast can seem like an insurmountable challenge, especially when living paycheck to paycheck or facing unexpected expenses. However, with the right mindset, a few strategic changes to your habits, and a bit of effort, it’s possible to save a significant amount of money quickly. This article will introduce 9 practical, actionable tricks that can help you cut down on your spending, boost your savings, and help you take control of your finances.

The beauty of these tricks is that they don’t require you to completely overhaul your lifestyle. Instead, they focus on making smarter choices and identifying areas where money is leaking from your budget without you realizing it. By the end of this article, you'll have the tools and insights needed to save money fast and efficiently.

1. Eliminate Unnecessary Subscriptions and Memberships

One of the fastest ways to start saving money is to review all of your ongoing subscriptions and memberships. In today's digital age, it's easy to forget about monthly payments for services you no longer use or need. Streaming services, gym memberships, magazine subscriptions, and software programs can add up over time, and you might not even realize how much you’re spending on these recurring costs.

How to Identify and Cancel Unused Subscriptions

Start by taking a deep dive into your bank and credit card statements over the past three to six months. Look for monthly or annual charges from services or subscriptions you rarely use. Once you've identified them, evaluate whether you still use them and if they provide value. For example, if you’re paying for a gym membership but haven't stepped foot inside the gym in months, it might be time to cancel it and find a more affordable alternative—like home workouts or outdoor exercise.
You can also make use of apps like Truebill or Trim, which help track subscriptions and automatically notify you of recurring charges. These services even offer to cancel unwanted subscriptions on your behalf.

The Savings Add Up Quickly

Cutting out even just a few subscriptions or memberships can free up hundreds of dollars over the course of a year. For instance, if you're paying $20 a month for a streaming service you hardly use, that’s $240 a year. Multiply that across several subscriptions, and you’ll quickly find that you’re freeing up a significant amount of cash each month.

2. Switch to Generic or Store Brands

When it comes to groceries, household items, and even over-the-counter medications, brand names are often significantly more expensive than their generic or store-brand counterparts. And yet, many of us continue to pay for name-brand products without considering the potential savings that come from switching to less expensive options.

How to Transition to Generic Brands Without Sacrificing Quality

Start by identifying the items you purchase regularly, and then compare the prices of generic versions with their name-brand equivalents. You’ll be surprised at how many products you can buy without compromising quality. Many generic and store-brand items are made in the same factories or with similar ingredients, meaning you get nearly identical quality at a fraction of the price.
For instance, consider switching to store-brand medications, which often cost 30-50% less than name-brand versions but contain the same active ingredients. The same goes for products like cleaning supplies, canned goods, and even fresh produce in many grocery stores.

The Financial Impact of Switching

The savings from switching to generic brands can add up quickly. For example, if you typically spend $100 on brand-name products each month, switching to generic versions could save you 20-30% or more—cutting your spending by $20-$30 every month. Over a year, that’s an extra $240-$360 in your pocket.

3. Use Cash Instead of Credit Cards

Using cash for your day-to-day expenses is a powerful trick that can help you save a lot of money quickly. While credit cards offer convenience and rewards, they also make it easier to overspend without realizing it. When you use cash, you’re forced to stay within the confines of your budget and avoid impulse purchases.

Why Cash Helps You Spend Less

Psychologically, handing over physical cash makes you more conscious of your spending than swiping a card. There’s a tangible feeling of “loss” when you pay with cash, which creates a natural deterrent to unnecessary purchases. On the other hand, credit cards can create a sense of detachment from money, leading to impulse spending and accumulating debt.
Set a specific cash budget each week or month for non-essential purchases, such as dining out, entertainment, and shopping. Once the cash is gone, you’re done for the week. This forces you to be more intentional about how you spend.

The Savings from Using Cash

If you consistently use cash for discretionary spending, you could easily save 10-20% on your total monthly expenses. This quick shift in spending habits can lead to substantial savings over time, which can be redirected into your savings account or used to pay down debt.

4. Cook at Home and Pack Your Own Lunch

Eating out is one of the easiest ways to blow your budget without realizing it. Whether it’s grabbing coffee on the go, ordering lunch at work, or dining out for dinner, those small, seemingly insignificant purchases can add up quickly. If you make a habit of cooking at home and packing your lunch, you’ll notice significant savings almost immediately.

How to Start Cooking at Home More Often

Begin by planning your meals for the week and preparing your groceries ahead of time. Batch cooking can save you time during the week and ensure you have healthy meals ready to go. You can also plan to cook in bulk and freeze leftovers for later use. This reduces the temptation to dine out when you’re busy or tired.
Packing your lunch the night before is another simple habit that can save you money. If you’re spending $10 per day on lunch, that’s $50 a week. Over the course of a month, that adds up to $200—money that could be put to better use elsewhere.

The Savings from Cooking at Home

By cooking at home and packing your lunch, you can save hundreds of dollars per month. The typical savings range from $200 to $400 monthly, depending on how often you dine out and how much you spend. These savings can be redirected toward debt repayment, investing, or building an emergency fund.

5. Shop for Clothes, Electronics, and Other Essentials During Sales

Waiting for sales events or shopping during off-peak seasons can lead to significant savings, especially for big-ticket items like clothing, electronics, and household appliances. Major sales events like Black Friday, Cyber Monday, and end-of-season clearances offer steep discounts on a wide range of products.

How to Time Your Purchases

Instead of making impulse purchases, plan ahead for your larger purchases. Research when specific items typically go on sale—electronics tend to be discounted around holidays or during back-to-school sales, while clothing is often marked down at the end of each season. Take advantage of these sales to get items at a fraction of their original price.
Sign up for store newsletters or set up price alerts for items you’re interested in. This way, you’ll be notified when the price drops or when a sale is about to happen.

The Savings from Shopping Smart

By shopping strategically and waiting for sales, you can save anywhere from 10-50% on your purchases. If you’re buying big-ticket items like a new laptop or refrigerator, these savings can add up to hundreds of dollars, reducing your overall expenses and freeing up cash for other financial goals.

6. Automate Your Savings

Automating your savings is a simple trick that can make saving money fast much easier. By setting up automatic transfers from your checking account to a savings account, you ensure that saving becomes a consistent habit rather than something you do only when you have extra money.

How to Set Up Automatic Transfers

You can automate your savings through your bank, which allows you to set up regular transfers from your checking account to a savings or investment account. Even small amounts—such as $50 or $100 per paycheck—can add up quickly. The key is to set it up and forget about it. Over time, you’ll accumulate a healthy savings balance without having to actively think about it.

The Financial Impact of Automating Savings

If you automate your savings, you can ensure that you're consistently putting money aside every month, regardless of what’s going on in your financial life. The key here is consistency and discipline, and the results will be felt in the form of a growing savings account, emergency fund, or investment portfolio.

7. Refinance High-Interest Debt

High-interest debt—like credit card balances and payday loans—can drain your finances and make it harder to save money. Refinancing your debt to a lower interest rate can help you save a substantial amount of money in the long run, freeing up extra cash each month.

How to Refinance Your Debt

Start by researching options to consolidate or refinance your high-interest debt. Many financial institutions and online lenders offer personal loans or credit card balance transfer options with lower interest rates. By transferring your high-interest debt to a lower-interest account, you’ll pay less in interest and reduce your monthly payments.

The Savings from Refinancing

Refinancing your debt can save you hundreds or even thousands of dollars in interest payments, depending on the size of your debt. By reducing your interest rates, you’ll pay off your balances faster and free up money for savings or other financial goals.

8. Take Advantage of Free or Low-Cost Entertainment

Entertainment expenses can quickly add up, especially when you're constantly paying for movies, concerts, dining out, and activities. However, there are plenty of free or low-cost alternatives that can provide the same level of enjoyment without draining your wallet.

How to Enjoy Cheap or Free Entertainment

Look for free events in your local community, such as concerts in the park, free museum days, or outdoor festivals. You can also explore low-cost hobbies like hiking, reading, or cooking at home. Additionally, many streaming services offer free trials or discounted subscriptions if you're willing to shop around.

The Savings from Cutting Entertainment Costs

By making small adjustments to your entertainment habits, you can save a significant amount of money each month. If you're spending $100 a month on movies, dining out, and entertainment, switching to free or low-cost activities can easily save you $50-$100 monthly.

9. Reduce Your Utility Bills

Utility bills for electricity, water, and gas can be major
drains on your budget. However, making simple changes in how you use energy at home can significantly reduce these costs.

How to Lower Your Utility Bills

Start by switching to energy-efficient light bulbs, unplugging electronics when not in use, and using a programmable thermostat. Cutting down on water usage by fixing leaks, installing low-flow faucets, and reducing the time spent in the shower can also lower your utility bills. Even small adjustments—like turning off lights when you leave a room—can add up over time.

The Savings from Reducing Utility Bills

By making simple energy-efficient changes in your home, you can save anywhere from $50 to $200 a year on your utility bills. These savings may seem small, but over time, they can accumulate and provide extra cash for savings or investments.

Conclusion: Start Saving Money Fast Today

Saving money doesn’t have to be a slow, painful process. By implementing these 9 tricks, you can quickly cut down on your expenses, build your savings, and take control of your financial future. The key is to take action today, make small but impactful changes, and stay disciplined with your budgeting and financial habits.

By canceling unused subscriptions, switching to generics, cooking at home, shopping during sales, automating savings, and more, you'll see tangible improvements in your financial situation. Start small and gradually build up to larger savings goals, and soon enough, you’ll be on the path to financial freedom.