19 people reveal their best tips for saving money

Flickr/Pictures of MoneySaving money is tough, but there are some tips that can help.
  • INSIDER scoured Reddit to seek out the best advice people have for saving money.
  • From waiting two weeks to buy something to saving your coins, Redditors have sound tips and tricks when it comes to saving money.
  • Their tips can be applied to everyday things such as grocery shopping.

Books, podcasts, and experts all claim to hold the secrets to saving money and increasing your wealth but sometimes the best advice comes from your peers.

People share their financial advice on Reddit all the time, and their real-world advice might be the advice you need to start saving. Below are 19 money-saving tips culled from the internet that will help you save you money.

Never grocery shop hungry.

Getty Images/Justin SullivanOnly shop for what you actually need.

“Don’t go to the grocery store hungry. I end up buying food that I was craving at the time, but then it ends up collecting dust in my pantry.” – Redditor ace22nd

Play the two-week game.

The CWIf you still want it in two weeks, you can treat yourself.

“When you want to buy something, don’t buy it yet, wait two weeks and if you still want it then, then buy it.” – Redditor LDRWarlock

Save your coins at the end of every day.

frankieleon/FlickrSaving pennies can actually get you far.

“Every day I empty all my change into a zip-lock bag of change. A couple times a year I go to the bank to trade it in for dollars, often it’s around $US60 to $US80.” – Redditor ShadowLiberal

Buy seasonal items the day after the holiday.

“Buy holiday essentials a week after the holiday. I buy my replacement Christmas lights, wrapping paper, bows, etc. for the next year a few days after Christmas. I buy Halloween decorations for next year in the first week of November. There are usually very deep discounts on things right after the holiday. Instead of paying $US5 for a roll of Christmas wrap, I pay .75 cents.” – Redditor AgnesofthePunk

Don’t save credit cards to online retailers.

Joe Raedle/GettyImagesStoring your credit card information makes it too easy to shop online.

“It makes it too easy to buy. If you have to get up and get a credit card and enter all the information into the system it gives you time to evaluate if you really want or need this thing you are buying.” – Redditor AgnesofthePunk

Don’t eat out.

ShutterstockIt can save you a lot of money in the long run.

“Don’t eat out! If you cut back the number of times you eat out each week by just one or two meals a week, that’s an extra $US10-$US50 that you are saving each week.” – Redditor bnnyblncofromdabronx

Think about an item’s cost in terms of your hourly wage.

denozy/ iStockHow many hours of work are you giving up?

“Think about how many hours you have to work to purchase the item you are debating on buying [based on your hourly wage].” – Redditor glenninator

Move your money to a savings account every payday.

AndreyPopov/ iStockA little bit adds up.

“On every payday, I move half of what I had leftover from last pay period over into my savings account. Sometimes it’s not a lot but it has added up quickly.” – Redditor cupcakejenn

Never spend more on lunch than half your hourly wage.

bitt24/ShutterstockLunch shouldn’t cost you more than 30 minutes.

“I try to never spend more on lunch than I was making in half an hour.” – Redditor PrimeIntellect

Skip soda and only order tap water at restaurants.

Unsplash/Ashley KirkIt will save you a little bit of money.

“Get water with your meal when you eat out. $US1-$US4 savings immediately.” – Redditor SpockHasLeft

Move your savings account to a separate bank from your checking account.

“My savings account is at a separate bank from my checking account. I can still deposit and withdrawal money to/from my checking account electronically, but it takes three business days to do either. This works well for me because it prevents me from hopping on my phone and transferring money into checking for an impulse purchase in a matter of seconds. Three days isn’t long, but it’s enough time to prevent me from buying stuff I don’t really need or even want.” – Redditor DavesMomsTits

Sign up for multiple incentive programs at the same company.

sitthiphong/ShutterstockGet as many free rewards as possible.

“Have multiple accounts with companies that give you free stuff. For example, have five Starbucks accounts and when they send out a promo code for a free drink once in a while, you get five.” – Redditor tristhygge

Read more: The easiest way to get free food at 10 of your favourite fast food restaurants

Increase your 401k contributions every time you get a raise.

s-c-s/ iStockContinue to change your 401k.

“If your company offers you any sort of automatic 401k deposit with match. Take it. Every raise or promotion, up your contribution increase. You will barely notice the change anyway and can help you avoid ‘lifestyle creep.'” – Redditor LittleCatDog

Base your weekly menu on what’s on sale at the grocery store.

david/FlickrEat whatever the sale is.

“Shop the sales. If chicken is on sale, you’re eating chicken. Ground beef? That’s what you’re eating.” – Redditor mrsclause2

Transfer your “latte money” into a savings account daily.

Thongsuk Atiwannakul/iStockEvery time you don’t buy a latte, transfer the money.

“Instead of buying a latte a day ($US5), I’m thinking of saving that money and transferring it to my savings account. It’s only $US150/month or so, but that adds up over the course of a year.

I would just transfer cash from my checking account to my online savings account [instead of buying a latte].” – Redditor Californialiving1

Hold items in your online shopping cart overnight.

baramee2554/ iStockMake sure you really want it.

“If you are wanting to buy something online, put it in your cart, but don’t buy right away. Wait until the next morning and then see if you really want it. I’ve saved that way.” – Redditor Anon

Shower at the gym.

geckophotos/ iStockDon’t pay for water and electricity if you don’t need to.

“I almost never shower at home. I shower at the gym. Save money on water and electricity.” – Redditor texxaport

Ask for a discount on expiring meats.

artisteer/ iStockPointing out that meat is going to expire soon could get you a discount.

“At the grocery [store] I will purposely look for meats or produce items that are approaching the sell by date. If you politely ask the customer service desk most times they will apply a huge discount. I bought three pounds of ground sirloin the other day for $US2.99, which was originally priced at $US9.85.” – Redditor Manthamon

Buy weekly recurring expenses with cash.

Justin Sullivan/Getty ImagesMake do with just the amount that you take out.

“Figure out what you spend on average for a week’s worth of groceries and gas, and take out that amount in cash. Try to make do with just that amount. I used to go to the store about every other day, buy what I needed for dinner that night plus whatever else we wanted. I never checked the balance, just swiped the card. Once we started going with cash for these two things, wow, what a difference!” – Redditor SuperScreamer54


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