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Tips on How to Save Money Regularly Each Month

Updated on June 8, 2017

What Are Some Ways to Save Money?

Basically, people save money by not over-spending, living below their means, and even doing without. Yet so many folks seem to be unable to save at all and continue living from paycheck to paycheck, often with more debt than they can ever pay off.

Let me put out a disclaimer. I am well aware that there are those who are unable to save due to legitimate reasons. There are the poorest poor, the unemployed, the homeless, the single parents with four children, and more reasons that I’m not even aware of.

Still, if you are asking this question of “How do You Save Money?” which someone recently did, then I know that you’re serious about looking at your own situation and may be serious about saving money—at least looking at the possibility.

Just save twenty bucks!

You've got a twenty? Now, what are you going to do with it?
You've got a twenty? Now, what are you going to do with it? | Source

Save Money Out of Every Paycheck

You’ve probably heard that you should try to aim for saving ten percent of each paycheck. It your expenses don’t allow for that, then try for 5%. Or try even saving $20.

I used to have a friend who would occasionally borrow just a couple hundred dollars for a car repair or tires. I would tell her that if she would save $20 per month, then she would have $240 in the bank after a year for emergency expenses—at least the smaller ones. She just couldn’t seem to get into it, didn’t seem to care enough to attempt it.

Some people think that just a little at a time doesn’t get them anywhere; they don’t see enough progress, as they want immediate gratification. But you can’t start a savings program and suddenly have $5,000 in the bank. You have to start somewhere. How can people even hope for immediate gratification when it comes to saving money, unless they are lucky enough to win the lottery or have some other lucky break fall in their laps? Saving money requires some amount of common sense, along with a realistic plan.

Live Below Your Means

Even if you can afford the more expensive apartment, rent one that costs less, if you want to save for a house of your own down the road. Sacrifice in order to be able to save money for when you really need it. Drive that old car until the cost of fixing it costs more than buying a decent used one. Forego brand name clothing or even new clothing. Instead, shop sale racks, visit thrift stores and resale shops.

I find great bargains at yard sales! You can save several hundred dollars every year by cutting clothing costs. Don’t spend your extra money eating out. Instead, eat inexpensive meals at home. Sock away that extra 100, 50, or even 10 bucks a month. Eventually, it will add up. Do the math.

Examples of Ways I Have Saved

I’ve been a saver all my life. My parents started three brothers and me in “The Squirrels Club” when we were little, a program sponsored by the local bank wherein we would "squirrel" away our coins in slots in a little book.

At 15, I took a part-time job to start saving money for college. I made it through college with taking out only a small loan that I quickly repaid. The summer after graduating, I didn’t have a job right away, but I was asked to babysit three kids that summer. I liked the family, so I agreed to do it for the paltry $200 per month. I had to live cheaply. I moved into a house with three other girls, where we could split the rent and bills. I made it through the summer, even managing to "squirrel" away a few of the dollars I was making.

Later, while working at my first low-paying social work job, I lived in an old house that was divided into studio-type apartments for really cheap rent and utilities. I stayed five years in those cramped quarters! It took a while to save, but I finally saved enough money for a small down payment for my first little 800 square foot house. I was ecstatic.

Commit Yourself to Take that First Step

It feels good to reach goals after saving money to get there. If you have extra money each month to spend on clothing,,eating out, and entertainment, then you have the means to save money. Find ways to cut back in these and other areas.

Start a savings account and commit to saving a certain amount of your income every month. You have to start somewhere. Saving money can be hard work as it requires commitment and discipline, but you will feel so good in knowing that you have taken positive steps to secure good things for your future.

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    • profile image

      edna colcol 2 months ago

      God Bless you. Thank you

    • Victoria Lynn profile image
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      Victoria Lynn 2 years ago from Arkansas, USA

      I hope so, Jacobb9205! Thanks for reading. Best of luck to you as well!

    • Jacobb9205 profile image

      Jacob Barnard 2 years ago from Gloucestershire

      Victoria Lynn, Yeah that's true well good luck on increasing your earnings!

    • Victoria Lynn profile image
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      Victoria Lynn 2 years ago from Arkansas, USA

      Jacobb9205--I used to safe about half my income when I had a better paying job! No more, but at least I'm not working as hard as I used to be. Keep on saving as long as you can!

    • Jacobb9205 profile image

      Jacob Barnard 2 years ago from Gloucestershire

      Great ways to save money! I tend to half all my earnings, half to save half towards expenses depending how much my expenses will be for that month.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Thanks, Francesca! I appreciate that!

    • profile image

      Francesca27 4 years ago

      Good job Victoria Lynn.... you have some great things written in your hub. Keep up the great writing.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Rataoesk--I definitely agree in investing money, too, but there has to be savings for a rainy day or for buying something we want. I love living below my means. That's what allows us to save and invest; otherwise "our means" would be spending everything we made. I love being frugal and figuring out how to save here and there. I would have to respectfully say the opposite--that living in excess hurts my soul and kills my spirit. I love how frugality makes me feel. Living frugally doesn't mean suffering. But to each our own! Thanks for the input.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Lumitare--I'm so glad that you were inspired to start saving. That's awesome!!! Once you get used to it, I bet you'll agree that it feels good. Then you will be more likely to get what you want with your savings eventually!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Thanks, californium! Most people can save just a little, if that's all they can do. Thanks for reading!

    • Lumitare profile image

      Lumitare 4 years ago from Helsinki

      This article was so inspirational. The part about instant gratification was especially interesting since I tend to be a person who wants everything now... Actually I wanted it yesterday! This reminded that I could cut back on some things and if I do that, I would be able to save. I am going to start today. :)

    • califonium profile image

      CHUKWUNONSO SAMUEL 4 years ago from NIGERIA

      the idea that i can't save become i don't have enough is a myth, the truth is that people don't save because they have enough and are satisfied they save because they don't have enough and are not satisfied and wants to have and be satisfied. great hub Vic, super fantastic advice. I LOVE IT.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      joanwz--You're welcome!

      Katlyn Rafferty--I think that's the best way--to have a certain amount automatically deposited into savings. Thanks for the comments!

    • Katlyn Rafferty profile image

      Katlyn Rafferty 4 years ago from Castile, New York

      Very helpful. I find that having a savings account really helps. I have part of my wages go in it automatically every week. The bank can set this up for you.

    • joanwz profile image

      Joan Whetzel 4 years ago from Katy, Texas

      great advice. thanks for posting

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      unikaman--There are certainly times in my life where things were so tight that I saved very little or none at all. Still, I wonder if I could have lived on less to do more. I definitely thing that saving is a great habit to get into--whenever we can. Thanks for reading and commenting!

    • unikaman profile image

      Amandeep Singh 4 years ago from London UK

      Really a nice article - makes me think (again!) things would have been a lot different if I would have been saving 10% from the very first I started earning ;)

      But, it is quite hard to break the belief - we usually think of saving after making the monthly spends, if this whole process is reversed (Save and then spend from whatever is left), it can make wonders in our lives!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      CLCMPK--Great! It's never too late to start saving!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      livelifeworryfree--Thanks! With your name, you must have the same kinds of values. Thanks for much for reading and commenting.

    • CLCMPK profile image

      CLCMPK 4 years ago

      Great advice! Will definitely be starting this!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      JessBraz, that sounds like a great app! Way to go with your saving habits! Thanks for sharing all that.

    • livelifeworryfree profile image

      Princess Clark 4 years ago from The DMV

      Great tips!

    • JessBraz profile image

      JessBraz 4 years ago from Canada

      Great advice! I've always been a saver, but I've recently recommitted to saving what I can.. My fiancé and I are hoping to buy our first house this fall and every penny I can save will help towards our down payment.. The tricks I've been using is automatic saving.. My work will take off a certain amount off of each paycheque and deposit it into a separate savings account.. So I never even see the money, which makes saving super easy.. I've also been tracking all of my spending through a free app I downloaded into my phone.. Every penny I spend I simply plug it in there.. It helps to keep my aware of what I'm spending and makes me think twice before I waste a few dollars on things I don't need.

      Happy saving everyone!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Thanks, blondey, for reading and commenting. These tips have always worked for me. :-)

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Aboutinvesting--Glad you appreciated the hub! Thanks for reading!

    • blondey profile image

      Rosemary Amrhein 4 years ago from Boston, MA

      True! I'll keep these tips in mind :-)

    • AboutInvesting profile image

      AboutInvesting 4 years ago from United States

      Great article! Thanks for sharing all of those valuable tips. I'm always looking for creative new ways to save!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      blondey--I think we think about it more as we get older, when we see how hard money is to come by! Thanks for your input!

    • blondey profile image

      Rosemary Amrhein 4 years ago from Boston, MA

      This is a great hub and echoes what my older brother told me a few times, to live below your means. I'm still working at it, but doing a lot better than when in my twenties!

      Great information. Worth doing.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      lovedoctor--I agree that it's wise. I feel so much better knowing that I have a cushion in my savings account. Thanks for commenting!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Samith Jhon--You're welcome. I'm glad you got some things from the article that you can try.

    • profile image

      lovedoctor926 4 years ago

      Useful information. It's wise to save money these days. I have a savings account with over $3000, but I have been saving money for a while now.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      craftybegonia--You are absolutely right. Like anything that becomes a habit, saving does, too, when done regularly!

    • Samith Jhon profile image

      Samith Jhon 4 years ago from Los Angeles, California

      Great Hub.This article has given me a lot of practical things to do and learn a lot. Thanks a lot for this information.

    • craftybegonia profile image

      craftybegonia 4 years ago from Southwestern, United States

      Good stuff! And I might add, teach your kids to save also! I've never found it hard to save as an adult because my dad bought me a huge Mickey Mouse bank and started me off when I was 6 years old. He would always take me to the bank, put in a coin and give me one to put in myself. I got so used to it, that as an adult, saving gives me no pain. Start them early, especially if they have college dreams, it'll pay!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      bell du jour--If we lived every day like it's our last, we wouldn't have anything left! :-) I think we have to have balance in looking to the future, as well. To me, living below my means is not uncomfortable, so it's a great way to put back money in order to have something for a rainy day. Thanks for reading!

    • bell du jour profile image

      bell du jour 4 years ago from Ireland

      Hi Victoria Lynn I enjoyed reading your article and you have some really good tips there! I agree that a lot of us are always looking for instant gratification - particularly the younger generation. However I'm not sure if I agree with living less than comfortably in order to save - after all none of us know when how long we are going to be here and we should treat every day like it's our last!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      lorddraven2000--Well, they're practical ways, and they have worked for me! Hope they do for you, too.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      jonandoi--I agree! Saving just a little each month is a good method that can really add up! Thanks for reading!

    • lorddraven2000 profile image

      Sam Little 4 years ago from Wheelwright KY

      In this day and age saving money is vital. I really enjoyed this article. Thanks for posting it. I am still hesitate about some methods I have found online, but these seem pretty good.

    • jonandoi profile image

      jonandoi 4 years ago

      It is a good method.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      jravity1--Saving is great everyday! Glad you liked the article! :-)

    • jravity1 profile image

      jravity1 4 years ago from bellevue, MI

      You did a great job with this article. Now is definitely the time to start saving. Thank you for helping.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      You're welcome, Missy Mac. Hope the tips help!

    • Missy Mac profile image

      Missy Mac 4 years ago from Illinois

      Great article! I am attempting to make goals of saving more throughout the year. Thanks again.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      I agree, Alecia. It's a lifestyle, not just a temporary goal. Thanks for the input, vote, and shares!

    • Alecia Murphy profile image

      Alecia Murphy 4 years ago from Wilmington, North Carolina

      This is a resolution that should be lifelong. I definitely think you've provided great advice! Voted up and shared.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Thanks for voting, Irene. I'm glad you appreciate the hub!

    • IreneBissou profile image

      Irene 4 years ago from U.S.A.

      Very practical advices! You are a live example of success being possible when persistence exists. Voted up!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      MomsTreasureChest--You're welcome! Thanks for reading!

    • MomsTreasureChest profile image

      MomsTreasureChest 4 years ago

      Great practical tips and ideas for saving money and spending less! Thanks for sharing!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      rajan--It all adds up. Thanks for stopping by!

    • rajan jolly profile image

      Rajan Singh Jolly 4 years ago from From Mumbai, presently in Jalandhar,INDIA.

      Very useful suggestions and money saving ideas. You are correct in saying that even a small amount in saving can become big if saved over a period of time. Regularity in savings is a must.

      Voted up and useful.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      chlxee--Yeah, I've always saved--since I was a kids--so it's just a natural thing for me. You can get into the habit, though, and it sounds like you are with saving your tips! That's a great idea. It's a start!

    • chlxee profile image

      Chloe West 4 years ago from Charleston

      These are fantastic ideas! I really am jealous of people like you that have been savers their whole life. I don't know what's wrong with me...I just can't seem to not spend money!

      I actually just started a new way of saving, though. Since I work in a restaurant and get paid in cash tips, it's pretty easy for me. But I save all of my 5's! I have a little envelope in my purse that at the end of the shift, all of my 5 dollar bills go into. I just started, so I don't even have $100 yet, but it's really easy to do!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Eagle Ford--You're welcome. Thanks for reading!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      treehousebrandon--I agree that writing it down is helpful in showing where the money went. Dave Ramsey does share some very valuable principles!

    • Eagle Ford profile image

      Eagle Ford 4 years ago from Texas

      Excellent tips. Thanks for sharing them!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Thanks, ajayshah! Glad it's helpful! Thanks for voting and sharing, too!

    • ajayshah2005 profile image

      ajayshah2005 4 years ago from Mid Asia

      Very useful information. Voted up and shared.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      Thanks, beingwell, for the input and for voting and sharing!

    • beingwell profile image

      beingwell 4 years ago from Bangkok

      Voted up and shared! These are great tips. I've also learned from the past to cut a portion for yourself first before spending your income for the monthly expenses. Also, if in debt (e.g. credit card, loans, etc.) try paying them off first (even if it's just a little per month) so that it eventually gets paid off in time.

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      viveresperando--That's a great tip! Another small way to save money that adds up. Thanks for sharing that, and thank you for the votes.

    • viveresperando profile image

      viveresperando 4 years ago from A Place Where Nothing Is Real

      I loved this. I am lucky that I have a small local bank that anytime I use my debit card, it rounds up the purchase and any extra cents goes to my savings account. It does not sound like much but it does add up. Nice tips, will look at your other links in the hubpage soon. Voted useful!

    • Victoria Lynn profile image
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      Victoria Lynn 4 years ago from Arkansas, USA

      timewarnercablenc--Yes, "enough" is definitely relative. That's good that you make more than you need each month. It's good to save that. Thanks for the input.

    • profile image

      timewarnercablenc 5 years ago

      really great advice you share here. I make more money than what I need each month but I should say that I'm struggling to save enough money. I know, 'enough' is relative :)

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      dianetrotter--Sorry to hear that, but I have known that feeling. Ugh. Hang in there!

    • dianetrotter profile image

      G. Diane Nelson Trotter 5 years ago from Fontana

      Hi Victoria, Right now I have more month than money.

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      Wow, Linda, you're right. Christmas will be here before you know it! Thanks for reading!

    • Linda Cassini profile image

      Linda Cassini 5 years ago from Las Vegas NV

      With Christmas around the corner this article sure comes in handy :)

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      mzshawn--A little at a time is a great way to go!

    • mzshawn26 profile image

      FraShawn Davis 5 years ago from Louisiana

      Thanks for these tips on how to save money. My plan this year is to start saving little at a time. So, that I will be able to do the things want to do. Again, Thanks.

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      suresh--Yep, even a little bit out of each check helps!

    • profile image

      suresh 5 years ago

      I agree that for each check, you need to save some money. This is the primary way you can control expenses and save money... suresh... http://myinvestmentideas.com

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      LOL, boundarybathrooms. GEt this to the girlfriend--QUICK! haha

    • boundarybathrooms profile image

      Thomas Mulrooney 5 years ago from Colne, Lancashire, UK

      As always Victoria this is a well written hub packed with some excellent advice!

      I'm not too bad with money, but I might show this to my girlfriend before she bankrupts me lol.

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      I agree, Ruby. We should always save, I think.

    • Ruby H Rose profile image

      Maree Michael Martin 5 years ago from Northwest Washington on an Island

      great tips, thanks! Saving is a necessity these days for sure!

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      the-remedy--Glad to hear it! Hope the tips help!

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      maheshpatwal--I appreciate that! You are so right about that quotation!

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      Rai--That makes me feel wonderful that you are again inspired! I don't think you will regret it. That is wonderful! Thank you!

    • the-remedy profile image

      the-remedy 5 years ago from Houston

      Appreciate the helpful tips, will put them all to good use!

    • maheshpatwal profile image

      maheshpatwal 5 years ago from MUMBAI

      As some wise man said a penny saved is penny earned.... beautiful hub with great ideas about how to save that extra penny. Good work

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      Thanks e-how-to. I will! Hope you do well on HubPages!

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      carter06--I agree that teaching kids while they are young makes all the difference. Thanks for the input!

    • Rai 18 profile image

      Rai 18 5 years ago from US

      Ma'am, thank you so much. I use spend every blessed dollar I received. Recently I tried making sure I saved a certain amount just for a car but I would run of saving for other items that I needed. Your hub helped to inspire me to try again. I really appreciate this.

    • e-how-to profile image

      e-how-to 5 years ago from Kgn. Jamaica

      This is a very informative and useful article. Keep up the good work.

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      Thanks, Janine. I will hardly buy anything (besides groceries) if it's not on sale. Thanks for your comments!

    • carter06 profile image

      Mary 5 years ago from Cronulla NSW

      I just found this too Vic and it's such great practical help to any needing to budget but the saving money tips are for a lifetime I reckon & I think encouraging little ones to put coins in money boxes teaches invaluable lessons for later in life!! Great hub...

    • Janine Huldie profile image

      Janine Huldie 5 years ago from New York, New York

      Thank you for the very informative hub on ways to save. I have used some of your methods already by having a savings account and holiday account that we contribute to each paycheck. Also, I try very hard to buy only what is on sale and use coupons if possible, whether groceries or clothing. Again thanks for this and am voting up and sharing too!

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      Thanks, vocalcoach! 11 years since fast food--wow! I get a fast food "fix" now and then, but not often. It is MUCH cheaper and healthier to eat at home. Thanks for your great comments, vote, and sharing!

    • vocalcoach profile image

      Audrey Hunt 5 years ago from Nashville Tn.

      This is the kind of hub a reader can return to again and again. It's just good to be reminded of your good tips. I think living below your means is the all-around best way to save. It puts you in a different mind set.

      Also, no fast food! It's been 11 years since I have used a fast food chain. We think its cheaper but it turns out its a money saver to cook at home. It's just more convenient and we are people in a hurry! Slow down people and you'll save money. Great hub Victoria and rating up and sharing!

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      Thanks, Josh--again. :-)

    • josh3418 profile image

      Joshua Zerbini 5 years ago from Pennsylvania

      You are welcome! Anytime! :)

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      Thanks, josh! glad you liked. Thanks for the votes, too!

    • josh3418 profile image

      Joshua Zerbini 5 years ago from Pennsylvania

      Vicki, this is very informational, I thoroughly enjoyed it! Voted up useful, and awesome!

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      cblemnagements--So true! I love the comment by Warren Buffett. Saving is often the LAST thing that people do. Great comments--thanks!

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      collegecredit--You're smart to live below your means. Seems like most college students need to do that! Thanks for the input!

    • profile image

      collegecredit101 5 years ago from Joliet, IL

      I love the idea of "Living below your means" its a DEF! good way to save some serious cash for myself. Especially, me being the college kid I am. Awesome tips. Sweet Hub. : )

    • Victoria Lynn profile image
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      Victoria Lynn 5 years ago from Arkansas, USA

      tipstoretireearly--Thanks! Your name has my attention, too. May have to check out your tips, too!