ArtsAutosBooksBusinessEducationEntertainmentFamilyFashionFoodGamesGenderHealthHolidaysHomeHubPagesPersonal FinancePetsPoliticsReligionSportsTechnologyTravel

Best Practical Money Saving Tips

Updated on December 14, 2019

Practical money saving tips

Saving money can either be a way of life or something that you will never do, there is no in between and the choice is ultimately yours. You could argue that in today's world where prices keep going up and revenue keeps decreasing it is impossible to save money anymore and that mentality alone will have a very negative impact on your efforts. Even if you are living from one paycheck to another it is still possible to save up, all you need to do is know and adopt a few practical money saving tips:

Save a percentage of your salary

The majority of people that treat saving money as a way of life start here. They get a savings account and every month automatically take 10-30% from their salary and dump it there. You can start off with a smaller percentage and increase it each month. And while you do this you will see that allowing yourself a smaller sum to spend will "inexplicably" lower your expenses as well, there are ways to cut back on costs when you decide to really motivate yourself.

Set precise goals

Once you start saving it's good to set a price goal, be it a fixed sum of money or the price of a certain item you're saving up for, it's always good to be exact so you can feel much better while on the road to achieving your goal, there's a big difference between "I guess I have to save up some more" and "Only 200 dollars left and it's mine!".

Always pay in cash

Credit cards, while comfortable, make it very easy for you to lose track of your expenses and begin getting into debt. And let's not talk about the interest rates as well! If you pay in cash you're sure never to spend more than you have. Remember that the average family has close to $7000 in debt, don't be one of them!

Record consumer debt

Make a list and check it twice

While fixed expenses are harder to reduce in cost, there are some practical money saving tips for saving money on groceries that you could easily adopt. The bulk of it involves knowing what you need and where to buy it at the cheapest price.

No gambling

If you've studied math and liked it then you know, the math in gambling is not in your favor. You'll earn more by not gambling at all than by trying to outwin your losses

Shopping is not a healthy way to de-stress

Neither is gambling or anything that involves costs that you can't predict. A movie ticket has a fixed cost so you could try that. Better yet, a walk in the park is free! Window shopping might be free as well but try to avoid it as you will inevitably be back to buy something you saw but don't really need.

Save energy and the planet

Using CFL bulbs instead of your regular incandescent bulbs can reduce power consumption by 80% while offering the same illumination.

Use coupons

One of the best practical money saving tips, using coupons can net you a 10-20$ discount each trip to the grocery store.

Buy online to save money

Whenever possible practice the habit of buying online, especially when talking about furniture, electronics or clothes. Online stores don't have rental costs or a lot of employee salaries to pay so their products are cheaper. You can also find discounts for online products so whenever looking for a product, search for the product name and the words "discount code" in the same search.

Save money on gifts

Star a gift closet. Buy gifts all year round, when they aren't overpriced as they usually are on seasonal occasions and deposit them in your closet. But be sure to keep an inventory of the gifts you bought to make sure you don't buy and give the same gift twice! Collect wrapping paper and ribbons to make your gift more beautiful and thus more appreciated even if it isn't the most expensive thing.


This website uses cookies

As a user in the EEA, your approval is needed on a few things. To provide a better website experience, uses cookies (and other similar technologies) and may collect, process, and share personal data. Please choose which areas of our service you consent to our doing so.

For more information on managing or withdrawing consents and how we handle data, visit our Privacy Policy at:

Show Details
HubPages Device IDThis is used to identify particular browsers or devices when the access the service, and is used for security reasons.
LoginThis is necessary to sign in to the HubPages Service.
Google RecaptchaThis is used to prevent bots and spam. (Privacy Policy)
AkismetThis is used to detect comment spam. (Privacy Policy)
HubPages Google AnalyticsThis is used to provide data on traffic to our website, all personally identifyable data is anonymized. (Privacy Policy)
HubPages Traffic PixelThis is used to collect data on traffic to articles and other pages on our site. Unless you are signed in to a HubPages account, all personally identifiable information is anonymized.
Amazon Web ServicesThis is a cloud services platform that we used to host our service. (Privacy Policy)
CloudflareThis is a cloud CDN service that we use to efficiently deliver files required for our service to operate such as javascript, cascading style sheets, images, and videos. (Privacy Policy)
Google Hosted LibrariesJavascript software libraries such as jQuery are loaded at endpoints on the or domains, for performance and efficiency reasons. (Privacy Policy)
Google Custom SearchThis is feature allows you to search the site. (Privacy Policy)
Google MapsSome articles have Google Maps embedded in them. (Privacy Policy)
Google ChartsThis is used to display charts and graphs on articles and the author center. (Privacy Policy)
Google AdSense Host APIThis service allows you to sign up for or associate a Google AdSense account with HubPages, so that you can earn money from ads on your articles. No data is shared unless you engage with this feature. (Privacy Policy)
Google YouTubeSome articles have YouTube videos embedded in them. (Privacy Policy)
VimeoSome articles have Vimeo videos embedded in them. (Privacy Policy)
PaypalThis is used for a registered author who enrolls in the HubPages Earnings program and requests to be paid via PayPal. No data is shared with Paypal unless you engage with this feature. (Privacy Policy)
Facebook LoginYou can use this to streamline signing up for, or signing in to your Hubpages account. No data is shared with Facebook unless you engage with this feature. (Privacy Policy)
MavenThis supports the Maven widget and search functionality. (Privacy Policy)
Google AdSenseThis is an ad network. (Privacy Policy)
Google DoubleClickGoogle provides ad serving technology and runs an ad network. (Privacy Policy)
Index ExchangeThis is an ad network. (Privacy Policy)
SovrnThis is an ad network. (Privacy Policy)
Facebook AdsThis is an ad network. (Privacy Policy)
Amazon Unified Ad MarketplaceThis is an ad network. (Privacy Policy)
AppNexusThis is an ad network. (Privacy Policy)
OpenxThis is an ad network. (Privacy Policy)
Rubicon ProjectThis is an ad network. (Privacy Policy)
TripleLiftThis is an ad network. (Privacy Policy)
Say MediaWe partner with Say Media to deliver ad campaigns on our sites. (Privacy Policy)
Remarketing PixelsWe may use remarketing pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to advertise the HubPages Service to people that have visited our sites.
Conversion Tracking PixelsWe may use conversion tracking pixels from advertising networks such as Google AdWords, Bing Ads, and Facebook in order to identify when an advertisement has successfully resulted in the desired action, such as signing up for the HubPages Service or publishing an article on the HubPages Service.
Author Google AnalyticsThis is used to provide traffic data and reports to the authors of articles on the HubPages Service. (Privacy Policy)
ComscoreComScore is a media measurement and analytics company providing marketing data and analytics to enterprises, media and advertising agencies, and publishers. Non-consent will result in ComScore only processing obfuscated personal data. (Privacy Policy)
Amazon Tracking PixelSome articles display amazon products as part of the Amazon Affiliate program, this pixel provides traffic statistics for those products (Privacy Policy)
ClickscoThis is a data management platform studying reader behavior (Privacy Policy)