Saving money isn’t just about cutting back—it’s about making strategic choices that add up. Here are specific ways to cut costs and get the most value for your hard-earned cash!
1. Shop Smarter with Price Comparison Tools
Before buying that new air fryer or set of headphones, check prices using sites like Google Shopping, CamelCamelCamel (for Amazon prices), or PriceGrabber. A quick search could reveal that the same item is 20% cheaper at another retailer!
You can also use cashback apps like Rakuten or Retailmenot to increase your savings.
Example: If you’re buying a new vacuum, instead of heading straight to the store, check CamelCamelCamel to see its price history on Amazon. You might find it’s at an all-time high and decide to wait a week for it to drop by $50.
2. Buy in Bulk for Maximum Savings
Stock up on non-perishables like toilet paper, canned goods, and rice from bulk retailers like Costco, Sam’s Club, or BJ’s Wholesale Club. Buying bulk often lowers the per-unit price, leading to huge savings over time.
Example: A pack of 40 rolls of toilet paper at Costco might cost $20, while buying individual packs at a grocery store could total $35 for the same amount. That’s an easy $15 saved!
3. Slash Subscription Costs
Take inventory of streaming services, memberships, and monthly subscriptions. Do you really need four streaming platforms? Consider rotating services every few months or sharing a family plan.
Example: Instead of subscribing to Netflix, Hulu, Disney+, and HBO Max at once (which could cost $60+ monthly), pick one per season and rotate every three months. That cuts the bill down to $15/month while still enjoying fresh content!
4. Score Huge Discounts at Grocery Stores
Use cashback apps like Ibotta and Fetch Rewards to get money back on groceries. Also, don’t overlook manager’s specials on perishable items.
Example: Buying discounted meat close to its sell-by date can save you 30–50%, and freezing it extends its life. If chicken breast is normally $5.99/lb, grabbing it on markdown for $3.00/lb and freezing it saves $6 on a 2-pound pack!
5. Cut Energy Costs the Easy Way
Making tiny adjustments can save big on utilities. Switch to LED bulbs, unplug idle electronics, and set your thermostat wisely.
Example: If you lower your thermostat from 72°F to 68°F in winter, it can reduce heating costs by 10%—often $100+ per year!
6. Find Hidden Deals on Second-Hand Items
Gently used items from Facebook Marketplace, OfferUp, and thrift stores can be just as good as new ones—but way cheaper.
Example: A brand-new Peloton bike costs $1,500, but a slightly used one on Facebook Marketplace might go for $750—half the price!
7. Automate Savings Without Thinking
Set up automatic transfers to a savings account and let your money grow without effort.
Example: Depositing $25 per week into an account earning 4% interest adds up to over $1,300 after a year—with extra earnings just from interest!
The secret to saving isn’t skipping what you love—it’s being smart about where your money goes. Try these tips today, and see just how much you can keep in your wallet!
Bob Gucer, MBA, CFP®, ChFC® CRPC®, AIF®, CBDA
WEALTH ADVISOR/MANAGING PRINCIPAL