+1-786-628-7980
Sign Up/Sign In 
Now that it’s a new year, you may be looking for some ways to save money. By cutting back on your expenses, you can have more income left over, helping you reduce financial stress and accelerate your progress toward long-term goals. This article will cover six simple frugal tips to save money and kickstart your financial goals in 2023.
You pay for a monthly subscription whether you use it or not, but it’s easy to stop using a subscription and forget you have it. The costs can add up quickly if you sign up for multiple subscriptions that you rarely use. Spending some time canceling these can save you tens, if not hundreds, per month.
Similarly, people might be paying too much for some subscriptions. For instance, you may be single, but use a family streaming plan. Downgrading your plan lets you continue enjoying the service for less.
In many cases, generic or store-brand goods are on-par with name-brand quality items but cost a lot less. For instance, store-brand frozen veggies or eggs might be just as good as name brands while saving you money.
If you must buy a name brand, do it only for the few things you value most. For example, if you love a steak dinner every week, buy high-quality steaks while choosing generic brands for other items.
Dining out can be fun and tasty, but those restaurant bills can add up fast. If you go out to eat often, cutting back on just one or two outings per week could save you a lot of money. For example, you may not have to go out for lunch at work every day. Consider packing lunch to bring to work. Or if you get dinner at restaurants often, try to cut it back to a couple of days per week. This can also make those times you do dine out more enjoyable.
Refinancing debt involves taking out a new loan at a lower rate to pay off one or more higher-rate loans. This helps reduce your monthly payment and save on interest. As a result, you can instantly get more money back every month. Refinance no more than once every six months to avoid too many credit-damaging hard inquiries and minimize denial chances.
Credit cards can be powerful savings tools when used wisely. Many offer cashback rewards on your everyday shopping, depending on the card and category. This can help you save a small amount on all your spending.
New cards often offer signup bonuses, such as a $200 statement credit if you spend $3,000 in three months. This is basically free money if you have $3,000 worth of spending coming in the next three months.
Finally, new cards tend to have promotional 0% APR periods — such as 12 months — where you pay no interest as long as you meet the minimum payment every month. Putting it all together, you can use a new card to make a large purchase, save a few bucks with the statement credit and cash back, then spread the purchase out over the entire promotional period.
Hunting for coupons, discounts, and other deals can help you cut a few cents or dollars on every purchase, and this adds up fast. Today, the Internet makes it easier than ever to find a coupon or deal on the items you need.
For example, shopping referral websites and mobile apps have discounts, coupons, or even cash back if you shop through them. There’s almost no extra work on your part. You just have to shop through that website’s portal to score the discount code or cash back. Stores may mail coupons or have them in-store as well. Make sure you grab these and browse them to see if there’s anything in there you need.
There are tons of ways to get frugal and save money, but some are harder and more involved than others. That’s why you should start with some of the easiest methods. List all your subscriptions, then cancel or downgrade any you don’t use. Consider dining in and cooking for yourself more often as well.
Meanwhile, buy more generic brands at the store, and make sure you’re using coupons and your cashback credit cards. Refinance your debts, too, to reduce your monthly payments and save on interest. Following these tips will help you whittle away at your spending and leave you with more income to put toward your goals.
If you’re low on funds and need to cover expenses right away, consider online loans. These loans often come with instant approval and can give you the funds you need as soon as the same day so you can meet your immediate financial needs. Compare loan options from the comfort of your home and fill out an application today.
