When life throws unexpected expenses your way, figuring out how to save money fast can feel like trying to fill a bucket with a hole in it. Fortunately, you don’t need to win the lottery or live like a hermit to get ahead. You just need a game plan.
The best savings hacks will help you build a solid financial cushion faster than you think. Check out the quick money-saving tips in this guide to supercharge your savings without feeling deprived.
Quick Money-Saving Tips You Can Try Right Now
The fastest results often come from small, simple changes that don’t disrupt your lifestyle. These ideas are smart ways to save money that take just a few minutes to set up.
Ruthlessly Cut Expenses
If you want to learn how to save money fast, the first step is to cut spending down to the bone. It’s not glamorous, but it works. Here are some quick money-saving tips to slash your bills and free up cash:
- Ditch the car (if you can): If you live in a walkable area or work remotely, selling your car could wipe out gas, insurance, and maintenance costs in one move. It’s one of the fastest ways to grow savings, although it’s not realistic for everyone.
- Cancel those streaming services: Sure, binge-watching is fun, but libraries loan DVDs for free. Cutting even a few subscriptions can be one of the smartest ways to save money each month.
- Slash your food spending: By paring down groceries to the essentials, you can save a small fortune. Cook at home and skip the pricey takeout—or grab cheap eats like the $1.50 Costco hot dog combo or Taco Bell’s dollar menu when you must.
- Negotiate your bills: Many subscription services offer secret discounts if you try to cancel. A few clicks could put extra cash back in your pocket—one of the best saving hacks out there.
- Trim your utility costs: Use less water and power. Bundle up in winter, run ceiling fans in summer, and switch to LED bulbs (even if you rent). These frugal living tips can chip away at expenses you barely notice.
Create (And Stick To) a Budget
Once you’ve trimmed your spending, the next step in learning how to save money fast is to give every dollar a job. A clear budget keeps your finances from going rogue and ensures your money works for you.
Start by listing your income, then subtract your fixed expenses (like rent, utilities, and insurance). What’s left is your pool for savings, debt repayment, and the occasional fun splurge.
Try using apps or spreadsheets to make the process painless, and build in a small “miscellaneous” category so you’re not derailed by surprise expenses.
Try Round-up Apps
Want easy ways to save money without feeling the pinch? Round-up apps are your new best friend. These clever tools link to your debit or credit card and automatically round each purchase up to the nearest dollar, then stash the spare change into a savings account. Buy a $3.60 coffee, and 40 cents quietly slips into savings—zero effort required.
There are a lot of round-up apps out there, but some of the most popular are Chime and Qapital.
Do a No-Spend Month
If you’re serious about learning how to save money fast, few things supercharge your bank account like a No-Spend Month. For 30 days, you hit pause on all non-essential spending. No takeout, no new clothes, and no “just because” Amazon orders.
Plan ahead by stocking up on essentials before the month begins, and build a simple meal plan to avoid the temptation of ordering out. At the end of the challenge, you’ll be shocked at how much cash you’ve kept in your account. It’s one of the fastest ways to grow savings and make frugal living tips stick for good.
Enlist an accountability buddy to share your savings goals and journey with. Having someone to talk to about your savings wins will make it easier to stick to your plan.
Sign Up for Loyalty and Cashback Programs
When you’re trying to figure out how to save money fast, don’t overlook the power of rewards hiding in plain sight. Loyalty and cashback programs can turn your everyday spending into effortless savings.
Look for programs through:
Cashback credit cards are also helpful, but you have to pay off the balance each month. Otherwise, it can become yet another debt sinkhole, and you don’t need that.
Increase Your Income
Sometimes, the fastest way to fatten your savings isn’t to spend less, but to earn more. This is a great option if you’ve already trimmed the fat from your budget and still need more money-saving strategies to build savings quickly.
You can increase your income by:
- Asking for a raise at your job (it can’t hurt to ask!)
- Working overtime, if it’s available to you
- Getting a part-time job like tutoring or babysitting
- Taking on a side hustle, like selling on Etsy
- Selling items on Facebook Marketplace or eBay
Ready, Set… Save!
If you need to save money fast, you’ve got a lot of options to bulk up your savings without depriving yourself. Even small changes can snowball into serious progress. Combine these money-saving strategies with your own creativity, and you’ll uncover the best saving hacks for your lifestyle.
