People share 20 effective and clever ways to save money that are often overlooked

Saving money is a skill that many people struggle to master. Often, as soon as their salary hits their account, they spend it on long-desired items. By the end of the month, they’re left with barely enough to cover essentials. A major factor in this struggle is the rising cost of living, with everything from groceries to utilities becoming more expensive. Careful planning is crucial to save money throughout the month.

That is why when u/PaperBladee and u/[deleted] asked on Reddit, "What is a clever way to save money that most people don't realize? and "What are your favorite money-saving tips?" people came in droves to share mind-blowing ways to save. From budgeting to spending money on essentials throughout the month, these are a few hacks people found helpful. Some answers were also about not spending on things like coffee or making a list of things to buy at a grocery store. It showed how small habits make a huge difference when saving money. So, check out the best 20 responses from Reddit and they will surely help you be wise with money.

1.  Be financially responsible

"Carry with you the knowledge that your parents and grandparents didn't magically start with a house full of bathrooms, stainless appliances, multiple TVs and other electronics. Granite. It's okay not to have everything, to accumulate your stuff over time. Don't get suckered in by the lifestyle, TV shows or articles online or from your peer group. It's okay and financially responsible to defer gratification... it will come." - u/anabeer.

2. Make a counteroffer for a job

"Politely make a counteroffer when you get a job offer. It's actually expected and there's pretty much zero risk in doing so as long as you don't turn it into an ultimatum. You're probably throwing more money away by not doing this than you can save by pinching pennies and not buying drinks at restaurants." - u/femtocrisis.

3. Cook your own food

"Making your own food. It's creative and can save tons of money. Especially when it comes to eating out." - u/lookingforpatchie. "... and then take leftovers to work and skip going out to lunch as well." - u/paranoid_70. "There are people who always eat out/order takeaway? Do they have a money tree or something?" - u/arcticbiologist. "Yes. I've known quite a few people who live like that. Some simply never learned to cook for some unknown reason. I packed lunches to take to work for decades. That gave me the disposable income to opt to go out to lunch with co-workers once every 2-3 months, without straining my budget." - u/responsiblebase.

4. Keep money in another account

"Keep almost all your money in an account that's not connected to your card, but you can easily transfer from. Keep enough to cover small expenses, like a coffee or small grocery store trip, in the account that's connected to your card. Every time you buy something that costs more than €20 ($21) or so, you'll need to take an extra step in transferring the money for it and also have to look at your account balance to better gauge whether it's really worth it. It stops nearly all impulse buying for me, other than small items." - u/betterthanthouu.

5. Save money on coffee

"Make your own coffee at home. Don't go to places like Starbucks or even the independent coffee shops. You might have to spend a little in the beginning to get a decent coffee maker/set up, but in the long run, you will be saving yourself time and money." - u/blakeburna. "Plus, you can make coffee at home that tastes way better than most coffee shops for like 1/10th the cost you pay at a shop. And it makes going out to the cafe for a Frappuccino or something a nice treat instead of a daily money suck." - u/[deleted].

6. Use electricity carefully

"In some areas, electricity is cheaper after a certain time, so you can run dishwashers, washing machines and dryers at that time to save on electricity. Call your provider and ask." - u/driver4life. "Also, check if you can get discounts because of your age or income. My mom discovered that since both she and my dad are considered seniors, they get a discount on their electricity bill." - u/bijouxette. 

7. Money can't buy happiness

"I have 2 rules that I've always tried to follow, although not always as well as I'd like. 1) Happiness doesn't come from acquiring things I want. It comes from avoiding things I don't want. 2) I can only spend it once. By following these rules, I'm not rich, but I've at least avoided poverty." - u/nonsense39. "Studies have shown that more money does improve happiness up to a certain point. (I'm thinking like $75k). Having to struggle for basic needs and feeling guilty over little treats does impact overall happiness. (Duh!) But going from $100k to 500k isn't going to impact the happiness much." - u/zula13.

8. No shopping for entertainment

"Don't go shopping as a form of entertainment. Put long-term savings in an investment account and not the bank. Invest in a credit card with cash-back rewards that you put into savings only if you can pay the balance each month. I use one for groceries and gas exclusively and make about $400 annually just for using the card. Learn what's really worth it. An overpriced day at the spa with mediocre services or a really good 90-minute massage close to home for less?" - u/chubbymommy2020.

9. Go for store brands

"Check the product's price per ounce while buying groceries. I would not say it saves a ton, but it saves a few bucks here and there. Try to buy groceries only when the previously bought items are used. It helps you to avoid wastage and completely clean refrigerators." - u/[deleted]. "Yes, and I forgot to add another tip. Store brands work just fine like name brands. It works extremely well in products like baby formula, diapers and wipes. They also give extra often, like 20% to 60% extras. You won't believe how much extra bucks it will save you." - u/[deleted].

10. Make a list of things to buy

"Make a list of needed products before going to a store." - u/[deleted]. "This is huge for me and my wife. I work at the grocery store, so it's super easy to just grab something for dinner on the way out. We started planning our meals and just shopping once a week. We were able to cut about $75 off our weekly food bill." - u/goob3r11.

11. Spending how many hours wages?

"A trick that always works for me is to think about how many hours' wages I am spending on something. As someone who previously had a huge spending problem, this has helped me realize that I've worked hard for my money, and I'd rather be working my ass off for a stress-free life financially than living pay day to pay day buying meaningless sh**." - u/diddlesdiddles.

12. Buy secondhand

"Stay a generation or two behind and buy it secondhand. Don't buy a new PS5. Buy a PS4 pro when the PS5 comes out and there are a million PS4s for sale. Don't buy a new M5. Wait until you get one off a 3-year lease. Don't buy a new smartphone. Buy last year's when the new model came out. Just common sense. Buy things when depreciation is right at the point of diminishing returns." - u/s_steiner-accounting.

13. Give yourself an allowance

"Give yourself an allowance and stick to it. I'm a grown adult with a mortgage, kids and a good career, but my personal allowance is only $150 per paycheck. This allowance covers all the things I want but don't need, like restaurant meals, fast food, social outings, recreational activities, non-work clothes, in-app purchases, etc. I can spend it on whatever I want and my husband can't say a thing about it (he has an allowance too), but it really makes me choose my priorities while still allowing some freedom for the occasional poor choice." - u/letsgetpizzas.

14.  Paying yourself

"On every payday, I move half of what I had left from the last pay period into my savings account (paying yourself). Sometimes it's not a lot, but it has added up quickly. I also add 5$ to each of my kids' savings accounts every payday. They each have over $1,000 and my savings have just reached 5 figures. As a single mom who has always lived paycheck to paycheck, I have surprised myself." - u/cupcakejenn.

15. Pay off your credit card

"Pay your credit card off completely every month. Don't let it accumulate interest. Don't purchase things you don't have the cash for. Too many people get over their heads in credit card debt and it's hard to dig yourself out at 18% interest." - u/swarleysmomma. "To add to this, if you have a credit card debt that you are struggling to pay off, think about doing a balance transfer to a long 0% interest card. I've seen some for 40 months, which makes it a lot easier to pay off a bulk with no interest." - u/mrsjton89.

16. Analyse bank statements

"Look at your bank statement. Actually, look at where your money goes." - u/tallish_possum. "I am doing this right now and it frightens me. I am looking at getting a new apartment and am trying to make/figure out my budget, so I am going through my bank statements, adding up all of my essential bills and monthly payments and then subtracting it from my monthly income. I should have, after all payments, just under $1700 (I live at home, not much rent). I currently have $380 in my bank account." - u/panda388. 

17. Make it a game

"Make a game of going as many days as you can without spending a penny, excluding absolute necessities like gas/ groceries/ bills. Works like a charm for me." - u/wunderdude. "This is what I do. I find the stuff I usually buy that would make me lose isn't worth the money anyway. My bank account just reached 4 digits and I have no bills to pay. Feels amazing." - u/slizzard_73. 

18. Patience and timing

"I was quite bad for wanting things and buying them as soon as I got paid. Of course, as the end of the month came near, I had barely any money left and struggled. To fix this, instead of buying things at the start of the month, I decided to buy things at the end of the month. If I still had enough of that month's wages left over to do so. If I didn't then I did the same again and waited till the end of the next month, and of course, last month's leftovers plus the new month's wage by the end of the 2nd month I had enough, and sometimes saved money as the item was now cheaper. Basically, patience and timing mean I can still have the things I want and not be struggling near the end of the month. I'm in a much better place financially now." - u/darkangelUK.

19. Kids' stuff

"If you have kids, buy what you can use. Toys, clothing, furniture, etc. Go through clothes so fast, so paying full price is stupid. You can often find brand new stuff with tags at Goodwill, garage sales or local buy and sell pages. Thrifting your own clothing isn't a bad idea either." - u/funsizedsamurai.

20. Use Excel to budget

"I made an Excel spreadsheet to budget with. It has all my bills, what I make each month, and what to put aside to save any specific amount. So far this year alone, I've managed to save $4,000." - u/anaslex247365. "I do this as well and it has been super helpful. A side benefit is that budgeting my paychecks has become fun to the level that it has (somewhat) replaced my itch to spend that money. I get really excited when I can squeeze a few extra dollars into one of my savings accounts (I have 9)." - u/OTECTOM.