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9 Ways to Save Money Immediately

Updated on October 10, 2018
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9 Ways to Save Money Immediately

Do you need to save money right now? Need to cutback on spending all together? Look for ways to apply these suggestions to your life! I'm sure most, if not all of them can help improve your financial situation essentially overnight!

9 Ways to Save Money Immediately

  1. Reduce Cell Phone Data
  2. Cut Your Own Hair
  3. Make Your Own Coffee
  4. Quit Smoking/Drinking/Lottery
  5. Make Breakfast/Pack Lunches
  6. Carpool/Public Transit
  7. Cut Recurring Expenses
  8. Reduce Luxury/Junk Food Groceries
  9. Start Couponing

Save Money - Budget Wisely

Those pennies really do add up!
Those pennies really do add up!

You must gain control over your money, or the lack of it will forever control you.

— Dave Ramsey

9 Ways to Save Money Right Now!

In a pinch? Need to save some cash right now? Here are 9 easy and fast ways that you can save money today, and even more money over the long term. Use one, all, or a combination of these items, and you'll have a great head start to gaining control over your financial situation. Let's start saving money right now!

1. Reduce your Cell Phone Data Plan

If your wireless service provider has sold you an unlimited data plan, I’d guess that you are largely overpaying for data that mostly goes unused. Unless you have a large family on a family plan, or require extra gigs for professional purposes, I would estimate that you don’t even need half of the data that you are paying for every month.

This translates to wasted money on a consistent basis. By switching from an unlimited plan (est. $80-100 per month per line) to a standard 2GB – 8GB plan (est. $55-75 per month per line) you could be saving anywhere from $5 -$45 per month. That can be savings of anywhere from $60 - $540 a year!

2. Cut Your Own Hair

If you are gutsy enough to put clippers or scissors to your hair then this one can definitely save you some great cash upfront. Before you do this, I strongly recommend looking up some tutorial videos on Youtube. There are tons of great videos showing how to cut your own hair and save a ton of cash while you are at it. A typical barbershop haircut will cost anywhere from $25 - $40 (give or take with tip). With some steady hands and an iron stomach, this can be a yearly savings of $300 - $960! Depending on your frequency and cost, of course.

For those who require a sharper look for professional reasons or personal preferences, I also recommend looking into saving on haircuts through other resources. For ladies, I know that Paul Mitchell School’s provide discounted haircuts from their students for learning purposes. Look for creative ways to look your best while spending less!

3. Make Your Own Coffee

Ah, yes. The old “make your own coffee argument.” Well it’s a solid argument for good reason. I’m all for going to grab a cup of coffee with a friend on occasion, or taking a client out for some coffee to help yourself land that deal, but an everyday ritual of going to grab your daily cup or two can begin to cause some budget issues for you.

Let’s assume we spend $5 every weekday on our way to work. 5 coffees a week, at $5 apiece, for 52 weeks will run you about $1300 per year. $1300! An extra $1300 at the end of the year sounds like the equivalent of a pretty solid vacation to me, what about you?

4. Quit Smoking/Drinking/Playing Lottery

Smoking, Drinking, and Playing the Lottery, are all enormous money pit’s for so many people that I know and interact with on a daily basis. In other words, your vices are making you broke. This group of expenses is probably the number one largest expense for millions of people, and is most likely keeping you in the negative.

If not for the reason of saving your health and not meeting the reaper early, PLEASE quit smoking cigarettes for the betterment of your wallet! Let’s guess the average pack of smokes is anywhere from $6 - $7. If you are a pack-a-day smoker like I used to be, you’ll save anywhere from $2,190 - $2,555 annually. Do you smoke two packs daily? Double that. How have you not quit yet? You CAN quit. I believe in you.

All of these items can be huge strains on your budget. Whatever your vice is, find out how much you spend on a daily/weekly/monthly basis, and equate it into a yearly sum to get a better idea of how much you’re truly throwing away. If you can’t cold turkey your addiction, at least strive for an immediate and severe reduction. You’ll thank yourself later.

5. Make Breakfast/Pack Lunches

Noticing a trend here? A little bit of upfront effort goes a long way on the back end. No, your bologna sandwich might not be as great as that tasty chicken sandwich with medium fries and drink, but I bet it will cost you a lot less in the long run. You can even take advantage of taking control of your diet with this. By cooking for a few hours on a Sunday for example, and prepping your meals ahead of time, you can have healthy, tasty, and frugal savings all in one swipe.

Still want to eat out every day? I’m going to guess you’ll spend at least $10 a day on lunch, on average. At roughly $50 per week, somewhere around $200 per month, and touching on $2,600 per year, I think I’ll be brown bagging it. Couple those savings with the few inches off the waistline you could be giving away. More money and better fitting clothes? You’ve got this.

6. Carpool/Public Transit

Do you live nearby a colleague? Do you live nearby a colleague that you wouldn’t mind riding to and from to work with? Great! Figure out which one of you has the most fuel-efficient vehicle, and the most fuel efficient route, and start saving that gas money. You can probably save at least $50 - $100 a month doing this, depending on how far you drive, and many other variables.

If you don’t live near a coworker then check out public transit lines that get you to your destination with relative ease. If you live in more of a rural area and work in urban area, I’ve heard of express lines that provide a direct, and much faster, route to get closer to where you need to be.

Yes, these alternative transportation options will most likely require more of a time investment than a monetary one. However, if you get home and spend 6 hours sitting on the couch, but can barely make your rent payment, I think you have more time than money to spend anyways.

7. Cutback Recurring Expenses

How much do you spend on Netflix every month? Or how about your cable? Or what about that overpriced gym membership? These recurring expenses eventually begin to add up, and before you know it you can be paying anywhere from $30 - $100 or more through these monthly expenses that are often forgotten.

But what about my entertainment, you say? Or please no, not my gym membership! I encourage you to look for alternative, and free ways to enjoy the same luxuries that you already enjoy today. No TV? Read a book. Yeah, that one that you bought 6 months ago and still hasn’t cracked open. No gym membership? Look up body weight, and at-home exercises. There are tons of them. You could always go outside for a walk or run? Just a suggestion…

8. Reduce Luxury/Junk Food Groceries

Always spending way too much at the grocery store? This one is for you. Save you from yourself, and make a list of the food that you truly need before going to the grocery store. When you get to the store, buy only what is on the list and nothing else. Put those cookies back. No, you don’t need those chips either. By taking inventory of the food we actually need beforehand, we will do ourselves a huge favor and ultimately save significant money from each of our trips when food shopping.

9. Start Couponing

Couponing can be a huge benefit to those who look to it consistently for regular events such as grocery shopping. Being careful to look for coupons for items that you actually need is ideal. Couponing is not an excuse to buy junk food just because it is on sale, or because you have a coupon for 10 cents off.

Couponing can also be used for bigger ticket items like car tires, or new appliances. This may not exactly be considered couponing, but always look for sale items that you need. I’m perfectly fine buying a model year or two older to help save myself $300. These days’ new models rarely arrive with significant upgrades from their predecessor. Save yourself a few Ben Franks and buy quality goods, at discounted prices.

Well, there you have it. We now have 9 Ways to Save Money Immediately. I encourage you to give a few of these a try, stick with it, put that money in a jar somewhere, and look at it in a year. Then next time you need some emergency cash for that car repair or hospital bill, you'll hurdle that obstacle with confidence and ease! Look at you, you money-saver!

9 Ways to Save Money Right Now

9 Ways to Save Money
Reduce Cell Phone Plan
Cut Your Own Hair
Make Your Own Coffee
Quit Smoking/Drinking/Gambling
Make Breakfast/Pack Lunches
Carpool/Public Transit
Cutback Recurring Expenses
Reduce Grocery Bill
Start Couponing
Use any or all of these 9 Ways to Save Money fast!

Saving Money

What could you do with all that coin?
What could you do with all that coin?

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