🕷️ Crawler Inspector

URL Lookup

Direct Parameter Lookup

Raw Queries and Responses

1. Shard Calculation

Query:

Response:

Calculated Shard: 108 (from laksa154)

2. Crawled Status Check

Query:

curl -X POST \
  'http://laksa108.int.ahrefs:8124/' \
  -H 'Content-Type: text/plain' \
  -H 'X-ClickHouse-Database: crawler3' \
  -H 'Authorization: Basic YXBpOg==' \
  -d 'SELECT getAhrefsURLFromUnparsed(src_unparsed) AS found_url, ifNull(toUnixTimestamp(download_stamp), 0) AS crawl_time, ifNull(toUnixTimestamp(props_url_first_seen), 0) AS first_indexed_time, download_http_code AS http_code, src_unparsed AS src_unparsed, src_root_hash AS src_root_hash, history_drop_reason AS history_drop_reason, meta_title AS meta_title, meta_descriptions AS meta_descriptions, attrs_boilerpipe_text AS attrs_boilerpipe_text, attrs_markdown AS attrs_markdown, attrs_readable_markdown AS attrs_readable_markdown, meta_canonical AS meta_canonical, ml_categories_json AS ml_categories_json, ml_types_json AS ml_types_json, ml_intent_types_json AS ml_intent_types_json, meta_language AS meta_language, attrs_author AS attrs_author, ifNull(toUnixTimestamp(attrs_publish_time), 0) AS attrs_publish_time, ifNull(toUnixTimestamp(attrs_original_publish_time), 0) AS attrs_original_publish_time, ifNull(attrs_is_republished, 0) AS attrs_is_republished, ifNull(attrs_nr_words, 0) AS attrs_nr_words, ifNull(attrs_boilerpipe_nr_words, 0) AS attrs_boilerpipe_nr_words, ifNull(body_ext_links_number, 0) AS body_ext_links_number, ifNull(body_int_links_number, 0) AS body_int_links_number, ifNull(meta_nofollow, 0) AS meta_nofollow, ifNull(meta_noarchive, 0) AS meta_noarchive, ifNull(props_was_rendered, 0) AS props_was_rendered, ifNull(src_redirect, \'\') AS src_redirect, ifNull(download_time_msec, 0) AS download_time_msec, ifNull(download_ttfb_msec, 0) AS download_ttfb_msec, ifNull(download_size, 0) AS download_size FROM crawler3.page_info_local FINAL PREWHERE (src_root_hash, src_unparsed) IN ((getAhrefsRootHashFromUnparsed(getAhrefsUnparsedNoserviceFromURL(\'https://www.credible.com/personal-finance/how-to-save-money\')), getAhrefsUnparsedNoserviceFromURL(\'https://www.credible.com/personal-finance/how-to-save-money\'))) FORMAT JSONEachRow'

Response:

{"found_url":"https:\/\/www.credible.com\/personal-finance\/how-to-save-money","crawl_time":1776930728,"first_indexed_time":1743830976,"http_code":200,"src_unparsed":"com,credible!www,\/personal-finance\/how-to-save-money s443","src_root_hash":"15733744733545544708","history_drop_reason":null,"meta_title":"How To Save Money: Strategies for Every Budget","meta_descriptions":["Looking to build better savings habits? Learn how to save money by cutting expenses, setting realistic goals, and choosing the right account to grow your money."],"attrs_boilerpipe_text":"Credible takeaways\nStarting a savings habit can lead to greater financial security, clearer timelines for your goals, and lower stress levels.\nGive yourself an attainable savings goal to start, such as a $1,000 emergency fund.\nCutting back on both day-to-day expenses and major purchases can free up more money for your savings.\nConsider diversifying your savings into traditional and high-yield savings accounts, certificates of deposit (CDs), and money market accounts.\nNearly four out of 10 Americans say they can't cover a $400 emergency with cash, according to the\nFederal Reserve\n. Without savings, many people are forced to take on debt or skip the expense entirely. Either option can make it even more difficult to get ahead financially.\nSaving money for both expected and unexpected expenses is one of the best ways to avoid falling behind. If you're ready to stop living paycheck to paycheck, here's what you need to know about how to save money and build long-term financial stability.\nWhy saving money is important\nIf your income hardly feels like it covers your necessary expenses, the idea of saving money can feel overwhelming. But a savings habit is absolutely necessary if you ever want to\nreach your financial goals\n.\nWhen you consistently set money aside, you'll experience these benefits:\nGreater financial security:\nUnexpected expenses will no longer derail your budget since you have cash available to cover them.\nClearer timelines:\nYou can plan your short-term and long-term goals, such as going on vacation or buying a house, because you'll have a clear idea of when you'll meet the savings goals.\nLess stress:\nKnowing how you'll pay for both unexpected expenses and future goals can help lower your financial stress levels.\nHow to create a money-saving plan\nYou've probably heard the advice to save three to six months' worth of expenses for emergencies like job loss. While that's a solid long-term goal, it can feel overwhelming, especially if you're starting from zero. A more realistic first step is to set a smaller, attainable savings goal.\nTip\nIf you’re starting from zero, set a first savings target of $1,000. That’s often enough to handle common emergencies, like a car repair or medical bill, and it’s a realistic amount for most people to work toward.\nEven if you feel like there's no slack in your budget, there are several strategies you can use to find money to set aside, including:\nAutomate your savings:\nSet up an automatic transfer of $20 (or whatever amount you won't miss) from each paycheck to your savings account.\nSave a portion of any “found” money:\nPut aside part of any windfalls like tax refunds, bonuses, or birthday money.\nTrack your spending:\nLook for small expenses you can cut, such as unused subscriptions or frequent takeout.\nLearn More:\nHow To Start an Emergency Fund\nBest ways to save money daily\nDay-to-day spending can be a good place to start looking for ways to save, particularly once you've identified unnecessary expenses. For example, many of us continue to pay for subscriptions that we no longer use. Taking some time to identify all the services you're subscribed to and canceling the ones you don't want will immediately save you money every month.\nDr. Darla Bishop, author of “How To Afford Everything,” offers several other suggestions for saving money on your daily expenses:\nDownload the apps for your grocery store to take advantage of digital coupons.\nConsider switching some of your shopping to discount stores like Aldi or box stores like Costco, BJ's, or Sam's Club.\nUse an app like\nIbotta\nor\nRakuten\nto earn cash back on the things you buy.\nCheck with your employee benefits for discount programs your employer has arranged. You may be eligible for discounts on items you buy every week or month.\nCreate a separate email inbox for any online retail checkouts. Then, move all marketing emails you're currently signed up for into that separate email account. This will keep you from being tempted by sales emails in your daily inbox.\nCheck your credit card benefits. You may have built-in discounts or special pricing for your favorite streaming service, delivery app, or retailer.\nHow to save money on major expenses\nWhile saving money on daily expenses can add up, you can also lower the cost of your major expenses to save a large amount in one fell swoop. Consider these money-saving strategies:\nHousing costs\nHousing and utility bills are the biggest monthly expenditures in most budgets. If you have a move coming up, Bishop recommends negotiating rent and move-in fees. Downsizing to a smaller home can also help reduce your housing and utility costs.\nIn addition, you can keep utility costs down by using ceiling fans to reduce heating and cooling usage, weatherproofing your windows and doors, and running your large appliances (such as dishwasher, washing machine, or dryer) in the evening.\nYou can also lower your homeowners or renters insurance premiums by increasing your deductible. Just make sure you can cover the higher deductible if you need to make a claim.\nGroceries and meal planning\nReducing your food waste can save you a lot of money over the course of a year. The\nU.S. Environmental Protection Agency\nestimates that the average American wastes nearly 219 pounds of food per year. Meal planning is one good strategy for ensuring you use the food you purchase.\nAnother important strategy is being aware of what you already have in your kitchen. “Do a monthly freezer and pantry audit,” says Bishop. “That ensures you aren't buying duplicate items — or missing the opportunity to turn wilted veggies into a delicious rice bake or risotto with that arborio rice you bought last year.”\nTransportation costs\nCutting back on transportation costs is another way to free up money in your budget. For example, you might reduce the amount of time you drive by carpooling, batching errands, or walking or using public transportation more often. This can help you save on gas money.\nYou can also look for savings on car insurance. Increasing your deductible may lower your premium, and if you drive an older car, it might be worth reviewing your coverage levels to see if you're paying for more protection than you need.\nMajor expenses\nIf you're making a major purchase, such as a car, a new computer, or a\npiece of furniture\n, a little persistence and patience can help you save a lot of money.\nJim Wang, entrepreneur, personal finance expert, and founder of WalletHacks.com, says one of the easiest ways to save on big purchases is by simply asking for a discount. Wang, who previously founded the blog Bargaineering and sold it for seven figures, recommends getting comfortable with negotiation.\n“Whenever you buy something significant, there is always some discount the salesperson can get for you because they want the sale, too,” Wang says. “Sometimes all it takes is for you to ask, ‘Is there any sale or promotion you can apply?’”\nHe adds that timing is key. If you're not in a rush, the salesperson may either offer a deal on the spot or let you know when the next sale is happening. Waiting it out can lead to bigger savings.\nWhere to put your savings\nOnce you choose a place to keep your savings, set up automatic transfers right away. This makes saving consistent and effortless. Money moves from your paycheck or checking account to your savings account, without you having to think about it.\nThere are several types of savings accounts to consider:\nTraditional savings accounts:\nThese are available through traditional banks and credit unions and can be linked to a checking account with the same institution. This makes money in a\ntraditional savings account\neasy to access. These accounts often have a very low interest rate and no minimum required balance.\nHigh-yield savings account:\nThese offer better interest rates than traditional savings accounts, but they may require a high minimum balance. Keep in mind that many\nhigh-yield savings accounts\nare offered by online-only banks, which can mean transfers from the savings account to your checking account take a couple of days to clear.\nCertificates of deposit (CDs):\nThese products tie up your money for a set period of time — typically between 6 months and 5 years. When the CD matures (reaches the end of its time limit), you get your money back plus interest. While the yield on CDs tends to be higher than what you can earn from savings accounts, you will pay a penalty if you try to access your money before the maturity date.\nMoney market accounts:\nThese types of deposit accounts offer higher interest rates than traditional or high-yield savings accounts and will often allow you to make payments or withdrawals like a checking account. However, money market accounts typically have a high minimum deposit requirement, and they limit the number of transactions you can make per month.\nTips for staying on track with savings\nSaving isn't a one-time task; it's a habit you build over time. To stay consistent, you'll need to be intentional about making it part of your routine. Here are a few ways to keep your savings on track, even when it's easy to forget about it:\nTry 50\/30\/20 budgeting:\nThis easy-to-remember budgeting technique suggests spending no more than 50% of your income on things you need (like rent, groceries, and transportation), 30% on things you want (like dining out, streaming services, and concerts), and setting aside the remaining 20% for savings. The trick to this budgeting strategy is to make sure you set aside the 20% for savings first, before you begin spending.\nReview regularly:\nReview your spending regularly to ensure you haven't slipped into old bad habits or picked up new ones. By committing to a monthly or quarterly review, you can adjust your saving and spending habits if they've fallen out of sync.\nAvoid lifestyle inflation:\nIt's easy for your spending to grow when your income does. To keep this from happening, increase your savings rate each time you get a raise or other increase in your income. That way your higher income goes toward your savings goals rather than lifestyle inflation.\nFAQ\nWhat is the best way to start saving money?\nOpen\nHow much should I save each month?\nOpen\nWhat are the best savings accounts for earning interest?\nOpen\nHow can I save money if I live paycheck to paycheck?\nOpen\nWhat are the most common money-saving mistakes?\nOpen\nMeet the expert:\nEmily Guy Birken\nEmily Guy Birken\nis an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch.","attrs_markdown":"[Skip to Main Content](https:\/\/www.credible.com\/personal-finance\/how-to-save-money#main-content)\n\n[Credible](https:\/\/www.credible.com\/)\n\n[Log in](https:\/\/www.credible.com\/login)\n\n[FREESee your credit score](https:\/\/www.credible.com\/hub\/credit-score?startVerification=true)\n\n- [Personal Loans]()\n- [Student Loan Refinance]()\n- [Private Student Loans]()\n- [Home Insurance]()\n- [Auto Insurance]()\n- [Life Insurance]()\n- [Home Purchase]()\n- [Home Refinance]()\n- [Home Equity]()\n- [Auto Loan]()\n- [Auto Refinance]()\n- [Credit Cards]()\n- [Savings]()\n- [Tools]()\n\n- [About]()\n- [Legal]()\n\nStudent Loan Refinance\n\n[Student loan refinance](https:\/\/www.credible.com\/refinance-student-loans)\n\n[Student loan consolidation](https:\/\/www.credible.com\/student-loan-consolidation)\n\n[Start Your 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If the lender is described as a partner or partner lender, Credible receives compensation from the lender. Compensation will not impact how or where products appear on the Credible platform when requesting prequalified rates and loans. Not all lenders participate in the Credible marketplace. Any opinions, analyses, reviews, or recommendations expressed in these articles are those of Credible (and the author) alone and have not been reviewed, approved, or otherwise endorsed by any lender or other provider.\n\n1. [personal finance](https:\/\/www.credible.com\/personal-finance)\n2. how to save money\n# How To Save Money: Practical Tips To Build Your Savings\nYou don’t need a perfect budget to start saving money. You just need a plan that works for where you are right now.\n\n![Author](https:\/\/cdn.credible.com\/content-images\/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=50&height=50&pixel_ratio=1)\n\nBy Emily Guy Birken\n\n![Emily Guy Birken](https:\/\/cdn.credible.com\/content-images\/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=56&height=56&pixel_ratio=1)\n\n[LinkedIn](https:\/\/www.linkedin.com\/in\/emilyguybirken\/)\n\nWritten by\n\n[Emily Guy Birken](https:\/\/www.credible.com\/author\/emily-guy-birken)\n\nFreelance writer\n\nEmily Guy Birken is an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch.\n\n![Emily Guy Birken](https:\/\/cdn.credible.com\/content-images\/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=56&height=56&pixel_ratio=1)\n\n[LinkedIn](https:\/\/www.linkedin.com\/in\/emilyguybirken\/)\n\nWritten by\n\n[Emily Guy Birken](https:\/\/www.credible.com\/author\/emily-guy-birken)\n\nFreelance writer\n\nEmily Guy Birken is an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch.\n\nEdited by Renee Fleck\n\n![Renee Fleck](https:\/\/cdn.credible.com\/content-images\/92679df5-94bf-4cc0-8926-21976d75e548?width=56&height=56&pixel_ratio=1)\n\n[LinkedIn](https:\/\/www.linkedin.com\/in\/reneefleck)\n\nWritten by\n\n[Renee Fleck](https:\/\/www.credible.com\/author\/renee-fleck)\n\nRenee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.\n\n![Renee Fleck](https:\/\/cdn.credible.com\/content-images\/92679df5-94bf-4cc0-8926-21976d75e548?width=56&height=56&pixel_ratio=1)\n\n[LinkedIn](https:\/\/www.linkedin.com\/in\/reneefleck)\n\nWritten by\n\n[Renee Fleck](https:\/\/www.credible.com\/author\/renee-fleck)\n\nRenee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places.\n\nReviewed by Richard Richtmyer\n\n![Richard Richtmyer](https:\/\/cdn.credible.com\/content-images\/dc822c4f-ed95-4dac-a6b0-c57861a7959d?width=56&height=56&pixel_ratio=1)\n\n[LinkedIn](https:\/\/www.linkedin.com\/in\/richtmyer01)\n\nWritten by\n\n[Richard Richtmyer](https:\/\/www.credible.com\/author\/richard-richtmyer)\n\nRichard Richtmyer is a senior editor with over 20 years of finance experience. He's an expert on student loans, capital markets, investing, real estate, technology, business, government, and politics.\n\n![Richard Richtmyer](https:\/\/cdn.credible.com\/content-images\/dc822c4f-ed95-4dac-a6b0-c57861a7959d?width=56&height=56&pixel_ratio=1)\n\n[LinkedIn](https:\/\/www.linkedin.com\/in\/richtmyer01)\n\nWritten by\n\n[Richard Richtmyer](https:\/\/www.credible.com\/author\/richard-richtmyer)\n\nRichard Richtmyer is a senior editor with over 20 years of finance experience. He's an expert on student loans, capital markets, investing, real estate, technology, business, government, and politics.\n\nUpdated April 4, 2025\n\n**Editorial disclosure:** Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS \\# 1681276, is referred to here as “Credible.”\n\n![Featured](https:\/\/cdn.credible.com\/content-images\/418044c2-37ca-4513-81a8-fe45461e9e69?width=472&height=331&pixel_ratio=2?width=472&height=331&pixel_ratio=1)\n\nCONTENT\n\nTABLE OF CONTENTS\n\nView All\n\n### Credible takeaways\n- Starting a savings habit can lead to greater financial security, clearer timelines for your goals, and lower stress levels.\n- Give yourself an attainable savings goal to start, such as a \\$1,000 emergency fund.\n- Cutting back on both day-to-day expenses and major purchases can free up more money for your savings.\n- Consider diversifying your savings into traditional and high-yield savings accounts, certificates of deposit (CDs), and money market accounts.\n\n### Get your financial goals on track\nFree credit score, automatic debt tracking, and goal setting all in one place.\n\n[Get Started](https:\/\/www.credible.com\/login?redirectTo=%2Fhub%2Ffinancial-tools)\n\n![](https:\/\/cdn.credible.com\/content-images\/95cb9c03-4b52-48e6-96e0-20999155becb)\n\nNearly four out of 10 Americans say they can't cover a \\$400 emergency with cash, according to the [Federal Reserve](https:\/\/www.federalreserve.gov\/publications\/2023-economic-well-being-of-us-households-in-2022-expenses.htm). Without savings, many people are forced to take on debt or skip the expense entirely. Either option can make it even more difficult to get ahead financially.\n\nSaving money for both expected and unexpected expenses is one of the best ways to avoid falling behind. If you're ready to stop living paycheck to paycheck, here's what you need to know about how to save money and build long-term financial stability.\n\n## Why saving money is important\nIf your income hardly feels like it covers your necessary expenses, the idea of saving money can feel overwhelming. But a savings habit is absolutely necessary if you ever want to [reach your financial goals](https:\/\/www.credible.com\/my-money-plan\/quiz?utm_source=credible_blog&utm_medium=blog&utm_campaign=%2Fpersonal-finance%2Fhow-to-save-money).\n\nWhen you consistently set money aside, you'll experience these benefits:\n\n- **Greater financial security:** Unexpected expenses will no longer derail your budget since you have cash available to cover them.\n- **Clearer timelines:** You can plan your short-term and long-term goals, such as going on vacation or buying a house, because you'll have a clear idea of when you'll meet the savings goals.\n- **Less stress:** Knowing how you'll pay for both unexpected expenses and future goals can help lower your financial stress levels.\n## How to create a money-saving plan\nYou've probably heard the advice to save three to six months' worth of expenses for emergencies like job loss. While that's a solid long-term goal, it can feel overwhelming, especially if you're starting from zero. A more realistic first step is to set a smaller, attainable savings goal.\n\n![tip Icon](data:image\/png;base64,iVBORw0KGgoAAAANSUhEUgAAACgAAAAvCAYAAACR+4jVAAAACXBIWXMAABYlAAAWJQFJUiTwAAAAAXNSR0IArs4c6QAAAARnQU1BAACxjwv8YQUAAAS2SURBVHgB7VhPaGNFGP\/NS1K6W6npUhEFdx+C0JS1TWAPe1A2XQTBU92TfxY29aDHNuc9bCp4Tos3LybSXRYEWw+inpJFBC+SVLBdQdzngopaaLZtGmPzZvwmk7QJ+\/pm8pLiHvYHr5mZfvPmN9+\/+d4AA0R5OVYoZSeSGCAsPOJ4TLBf+BIkf7KVX9lRnADk+0vLkxk\/GV+CifRdR3C2boVGbmDAkJtmllUAFxU\/Oa2JE+mNBSF4vJSNLWCAkJsWHPlEenPJVw4GEFzMMQvzpewLcX+52uvAP2VosP7hJJETNm0+o5NlMEQpOxknkquC8xlp+kNSpTdshCJJCGGDiXP0+4D2XaGtF9mLK8WHyZ2fF9xdoM0kEmmnMjCCimRswbLE9vT83bz44a0UEblGw0mfKURArMGNLLJEzpED5aVYQQgx17nJgRGUEKUUaazxsYaY10oZ0ugiekRPBIlcnMgVqBk07ZA2w3OkTa1p2wjLP+RfKYA7pPYiTo6cxCy9Q86f0QmWsueTQMNhqhObZYzdIH1G6SkKl+c7ySqzHhA5ZmMgEEts6mbak5TlzjLp24KXyVcXWbfAhE0\/SSJ7DYzZKk9tZMT62znIsUHC5QmWuFUuZeNRWPVMmxRjWOO8lm9H+LE+2CKLePIiyCz3MHgU2dTKTGutFOXPNa+0ow2SE9FeG254TBcw+pOE4RJMMXwWGJkwFod1kNKJhP3+ScFBEdewoUNkHHjuXSIXU\/1\/t4BfPgAOtvznMUxDA40GG3GYQJKTpDbeA36i4KxuAs9fN5jIbJ1E\/wWr1J7U3F+fkU\/tK6J\/rFBgnQJOnUW\/BMMqSXuBOzBB6PQRsTZk363R9k\/7zxWqFlQfWpbtJSJ90PaezSqKpEbJTT8TwNjLwPY3akwGy9C4iQ+2IphFj+Phm2aaQRJqbEOH8VeBZ64CO9+T5qrA6AVg6ysy+6r\/PIFlNr3iWwj7qqeVo4rQYetr4OfrytzSH39d0pNrLmAVdCL6IHHF5zBB7T6wt6kiWD46COGwqU+07zaI4kiOTKE3c89geRMpLUFlZvE+BgnSHngjZyJqlAfZ9E355aX1F2NwRkXrbcdE1DxRu+ErtPPjqxqZsGX0jkyq9nEQoO+Thz+m+ibYNDV3L9MCJU+Bp680V8fB38CzV71f4vI5SisZ9ICejrqmWXj4sqcm5bEmj7g\/V4+Khk40NXcrhx7R81msNMne6RqU+W\/4HNWc91WKkf1OM8uU0qPmAhNUJJs+VDwcaJORZ7CEPJeHuvwwg4AIXs10JvDQSHexwOm4G3qq3atQFjDKeV7oo9xy17q71Y72\/lFbiDvoA4EJduUxaU7eQUpq87DUYg76QGCCF156xV8gdFgLGt8ieCGM4Eh+9MWeag3\/SGmG2tut\/ugdZebqHu793rgUv5i0y98VHQRAYIJj0SdnP\/223fut9YRa\/fYVoeyHktEnmsWogwAITPDBzq6x6TjnCIrABM+cGbWFMHPhenUfQRGY4O5ujS4czG7vGo0GgiIwwUg4VBHCTDY4vX4IRiIw5Af2f\/jg7t4OXZXpp1OAlOv1uoOA6PmOuhOvzb6ZFUxM+73zy9Xb2ttUP\/wHEFrPg7Eh\/FcAAAAASUVORK5CYII=)\n\nTip\n\nIf you’re starting from zero, set a first savings target of \\$1,000. That’s often enough to handle common emergencies, like a car repair or medical bill, and it’s a realistic amount for most people to work toward.\n\nEven if you feel like there's no slack in your budget, there are several strategies you can use to find money to set aside, including:\n\n- **Automate your savings:** Set up an automatic transfer of \\$20 (or whatever amount you won't miss) from each paycheck to your savings account.\n- **Save a portion of any “found” money:** Put aside part of any windfalls like tax refunds, bonuses, or birthday money.\n- **Track your spending:** Look for small expenses you can cut, such as unused subscriptions or frequent takeout.\n\n**Learn More:** [How To Start an Emergency Fund](https:\/\/www.credible.com\/personal-loan\/how-to-start-an-emergency-fund)\n\n## Best ways to save money daily\nDay-to-day spending can be a good place to start looking for ways to save, particularly once you've identified unnecessary expenses. For example, many of us continue to pay for subscriptions that we no longer use. Taking some time to identify all the services you're subscribed to and canceling the ones you don't want will immediately save you money every month.\n\nDr. Darla Bishop, author of “How To Afford Everything,” offers several other suggestions for saving money on your daily expenses:\n\n- Download the apps for your grocery store to take advantage of digital coupons.\n- Consider switching some of your shopping to discount stores like Aldi or box stores like Costco, BJ's, or Sam's Club.\n- Use an app like [Ibotta](https:\/\/home.ibotta.com\/) or [Rakuten](https:\/\/www.rakuten.com\/) to earn cash back on the things you buy.\n- Check with your employee benefits for discount programs your employer has arranged. You may be eligible for discounts on items you buy every week or month.\n- Create a separate email inbox for any online retail checkouts. Then, move all marketing emails you're currently signed up for into that separate email account. This will keep you from being tempted by sales emails in your daily inbox.\n- Check your credit card benefits. You may have built-in discounts or special pricing for your favorite streaming service, delivery app, or retailer.\n## How to save money on major expenses\nWhile saving money on daily expenses can add up, you can also lower the cost of your major expenses to save a large amount in one fell swoop. Consider these money-saving strategies:\n\n### Housing costs\nHousing and utility bills are the biggest monthly expenditures in most budgets. If you have a move coming up, Bishop recommends negotiating rent and move-in fees. Downsizing to a smaller home can also help reduce your housing and utility costs.\n\nIn addition, you can keep utility costs down by using ceiling fans to reduce heating and cooling usage, weatherproofing your windows and doors, and running your large appliances (such as dishwasher, washing machine, or dryer) in the evening.\n\nYou can also lower your homeowners or renters insurance premiums by increasing your deductible. Just make sure you can cover the higher deductible if you need to make a claim.\n\n### Groceries and meal planning\nReducing your food waste can save you a lot of money over the course of a year. The [U.S. Environmental Protection Agency](https:\/\/19january2017snapshot.epa.gov\/sustainable-management-food\/united-states-2030-food-loss-and-waste-reduction-goal_.html#:~:text=Using%20the%20available%20data%2C%202010%20was%20selected%20as%20a%20baseline%20at%20218.9%20pounds%20of%20food%20waste%20per%20person%20sent%20for%20disposal.) estimates that the average American wastes nearly 219 pounds of food per year. Meal planning is one good strategy for ensuring you use the food you purchase.\n\nAnother important strategy is being aware of what you already have in your kitchen. “Do a monthly freezer and pantry audit,” says Bishop. “That ensures you aren't buying duplicate items — or missing the opportunity to turn wilted veggies into a delicious rice bake or risotto with that arborio rice you bought last year.”\n\n### Transportation costs\nCutting back on transportation costs is another way to free up money in your budget. For example, you might reduce the amount of time you drive by carpooling, batching errands, or walking or using public transportation more often. This can help you save on gas money.\n\nYou can also look for savings on car insurance. Increasing your deductible may lower your premium, and if you drive an older car, it might be worth reviewing your coverage levels to see if you're paying for more protection than you need.\n\n### Major expenses\nIf you're making a major purchase, such as a car, a new computer, or a [piece of furniture](https:\/\/www.credible.com\/personal-loan\/furniture-loans), a little persistence and patience can help you save a lot of money.\n\nJim Wang, entrepreneur, personal finance expert, and founder of WalletHacks.com, says one of the easiest ways to save on big purchases is by simply asking for a discount. Wang, who previously founded the blog Bargaineering and sold it for seven figures, recommends getting comfortable with negotiation.\n\n“Whenever you buy something significant, there is always some discount the salesperson can get for you because they want the sale, too,” Wang says. “Sometimes all it takes is for you to ask, ‘Is there any sale or promotion you can apply?’”\n\nHe adds that timing is key. If you're not in a rush, the salesperson may either offer a deal on the spot or let you know when the next sale is happening. Waiting it out can lead to bigger savings.\n\n## Where to put your savings\nOnce you choose a place to keep your savings, set up automatic transfers right away. This makes saving consistent and effortless. Money moves from your paycheck or checking account to your savings account, without you having to think about it.\n\nThere are several types of savings accounts to consider:\n\n- **Traditional savings accounts:** These are available through traditional banks and credit unions and can be linked to a checking account with the same institution. This makes money in a [traditional savings account](https:\/\/www.credible.com\/personal-finance\/checking-vs-savings-account) easy to access. These accounts often have a very low interest rate and no minimum required balance.\n- **High-yield savings account:** These offer better interest rates than traditional savings accounts, but they may require a high minimum balance. Keep in mind that many [high-yield savings accounts](https:\/\/www.credible.com\/savings) are offered by online-only banks, which can mean transfers from the savings account to your checking account take a couple of days to clear.\n- **Certificates of deposit (CDs):** These products tie up your money for a set period of time — typically between 6 months and 5 years. When the CD matures (reaches the end of its time limit), you get your money back plus interest. While the yield on CDs tends to be higher than what you can earn from savings accounts, you will pay a penalty if you try to access your money before the maturity date.\n- **Money market accounts:** These types of deposit accounts offer higher interest rates than traditional or high-yield savings accounts and will often allow you to make payments or withdrawals like a checking account. However, money market accounts typically have a high minimum deposit requirement, and they limit the number of transactions you can make per month.\n## Tips for staying on track with savings\nSaving isn't a one-time task; it's a habit you build over time. To stay consistent, you'll need to be intentional about making it part of your routine. Here are a few ways to keep your savings on track, even when it's easy to forget about it:\n\n- **Try 50\/30\/20 budgeting:** This easy-to-remember budgeting technique suggests spending no more than 50% of your income on things you need (like rent, groceries, and transportation), 30% on things you want (like dining out, streaming services, and concerts), and setting aside the remaining 20% for savings. The trick to this budgeting strategy is to make sure you set aside the 20% for savings first, before you begin spending.\n- **Review regularly:** Review your spending regularly to ensure you haven't slipped into old bad habits or picked up new ones. By committing to a monthly or quarterly review, you can adjust your saving and spending habits if they've fallen out of sync.\n- **Avoid lifestyle inflation:** It's easy for your spending to grow when your income does. To keep this from happening, increase your savings rate each time you get a raise or other increase in your income. That way your higher income goes toward your savings goals rather than lifestyle inflation.\n## FAQ\n### What is the best way to start saving money?\nOpen\n\nThe best way to start saving money is to set up an automatic transfer of a small amount of money from your paycheck into your savings account. You can increase the amount of the transfer over time.\n\n### How much should I save each month?\nOpen\n\nThe right amount of money to save each month will vary from one person to another, but a good rule of thumb is to aim for a 20% savings rate. If that's not realistic right now, start with what you can and increase your savings over time.\n\n### What are the best savings accounts for earning interest?\nOpen\n\nSavers typically earn the most interest from money market accounts, although these accounts have high minimum deposit requirements. High-yield savings accounts also typically offer higher interest rates than traditional savings accounts.\n\n### How can I save money if I live paycheck to paycheck?\nOpen\n\nSetting up an automatic transfer of a small amount of money (\\$20 or less) from each paycheck can help you start building your savings. You can also put a portion of any found money, such as tax refunds, gifts, or bonuses, into your savings to help it grow.\n\n### What are the most common money-saving mistakes?\nOpen\n\nThe biggest mistake is assuming that you can't possibly save money or that it won't make a difference. Anything you can save is better than nothing. Another is not tracking your spending. You might be surprised at how much you can save by cutting a few recurring expenses or unnecessary purchases.\n\nMeet the expert:\n\nEmily Guy Birken\n\n![Emily Guy Birken](https:\/\/cdn.credible.com\/content-images\/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=131&height=131&pixel_ratio=1)\n\n[LinkedIn](https:\/\/www.linkedin.com\/in\/emilyguybirken\/)\n\n[Emily Guy Birken](https:\/\/www.credible.com\/author\/emily-guy-birken) is an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch.\n\n### Related articles\n[![How To Create a Budget: A Step-By-Step Guide](https:\/\/cdn.credible.com\/content-images\/84830aef-4cac-44ee-9d6a-f19b1c846eec?width=254&height=168&pixel_ratio=1)](https:\/\/www.credible.com\/personal-finance\/how-to-create-a-budget)\n\n[Personal Finance](https:\/\/www.credible.com\/personal-finance)[How To Create a Budget: A Step-By-Step Guide](https:\/\/www.credible.com\/personal-finance\/how-to-create-a-budget)\n\n[![How To Pay Off Credit Card Debt](https:\/\/cdn.credible.com\/content-images\/07586bbd-1789-41cd-a8b9-fff5cba4a579?width=254&height=168&pixel_ratio=1)](https:\/\/www.credible.com\/personal-loan\/credit-card-consolidation-loans\/pay-off-credit-card-debt)\n\n[Personal Loans](https:\/\/www.credible.com\/personal-loan)[How To Pay Off Credit Card Debt](https:\/\/www.credible.com\/personal-loan\/credit-card-consolidation-loans\/pay-off-credit-card-debt)\n\n[![How To Start an Emergency Fund](https:\/\/cdn.credible.com\/content-images\/96d2fbc5-d724-45c0-be1d-144568aee16a?width=254&height=168&pixel_ratio=1)](https:\/\/www.credible.com\/personal-loan\/how-to-start-an-emergency-fund)\n\n[Personal Loans](https:\/\/www.credible.com\/personal-loan)[How To Start an Emergency Fund](https:\/\/www.credible.com\/personal-loan\/how-to-start-an-emergency-fund)\n\nPRODUCT\n\n- [Personal Loans](https:\/\/www.credible.com\/personal-loan)\n- [Student Loan Refi](https:\/\/www.credible.com\/refinance-student-loans)\n- [Student Loans](https:\/\/www.credible.com\/student-loans)\n- [Home Insurance](https:\/\/www.credible.com\/insurance)\n- [Auto Insurance](https:\/\/www.credible.com\/insurance)\n- [Life Insurance](https:\/\/www.credible.com\/life-insurance)\n- [Home Purchase](https:\/\/www.credible.com\/mortgage)\n- [Home Equity](https:\/\/www.credible.com\/heloc)\n- [Auto Loans](https:\/\/www.credible.com\/auto-loans)\n- [Auto Refinance](https:\/\/www.credible.com\/auto-refinance)\n- [Credit Cards](https:\/\/www.credible.com\/credit-card)\n- [Savings](https:\/\/www.credible.com\/savings)\n- [Financial Tools](https:\/\/www.credible.com\/hub\/financial-tools)\n\nSUPPORT\n\n- [Resource center](https:\/\/www.credible.com\/personal-finance)\n- [FAQ](https:\/\/www.credible.com\/faqs)\n- [Security](https:\/\/www.credible.com\/security)\n\nLENDERS\n\n- [Best Low-Interest Personal Loans](https:\/\/www.credible.com\/personal-loan\/best-low-interest-personal-loans)\n- [Student Loan Lenders](https:\/\/www.credible.com\/student-loans\/best-student-loan-companies)\n- [Student Loan Refi Lenders](https:\/\/www.credible.com\/refinance-student-loans\/best-student-loan-refinance-companies)\n- [Best Mortgage Lenders](https:\/\/www.credible.com\/mortgage\/best-mortgage-lenders)\n\nPARTNERS\n\n- [Affiliates](https:\/\/www.credible.com\/partners)\n- [Employers](https:\/\/www.credible.com\/employer)\n- [Financial Advisors](https:\/\/www.credible.com\/financialadvisors)\n\nCOMPANY\n\n- [About Us](https:\/\/www.credible.com\/about)\n- [Editorial Staff](https:\/\/www.credible.com\/editorial-staff)\n- [Editorial Guidelines](https:\/\/www.credible.com\/mission-editorial-guidelines)\n- [Careers](https:\/\/www.credible.com\/careers)\n- [Press](https:\/\/www.credible.com\/press)\n- [Contact Us](https:\/\/www.credible.com\/contact-us)\n- [Sitemap](https:\/\/www.credible.com\/site-map)\n\nLEGAL\n\n- [Updated Terms of Service](https:\/\/www.credible.com\/terms)\n- [Updated Privacy Policy](https:\/\/www.credible.com\/privacy)\n- [Your Privacy Choices](https:\/\/www.credible.com\/legal-pages\/do-not-sell)\n- [CCPA - 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Prequalified rates are not an offer of credit.","attrs_readable_markdown":"### Credible takeaways\n- Starting a savings habit can lead to greater financial security, clearer timelines for your goals, and lower stress levels.\n- Give yourself an attainable savings goal to start, such as a \\$1,000 emergency fund.\n- Cutting back on both day-to-day expenses and major purchases can free up more money for your savings.\n- Consider diversifying your savings into traditional and high-yield savings accounts, certificates of deposit (CDs), and money market accounts.\n\nNearly four out of 10 Americans say they can't cover a \\$400 emergency with cash, according to the [Federal Reserve](https:\/\/www.federalreserve.gov\/publications\/2023-economic-well-being-of-us-households-in-2022-expenses.htm). Without savings, many people are forced to take on debt or skip the expense entirely. Either option can make it even more difficult to get ahead financially.\n\nSaving money for both expected and unexpected expenses is one of the best ways to avoid falling behind. If you're ready to stop living paycheck to paycheck, here's what you need to know about how to save money and build long-term financial stability.\n\n## Why saving money is important\nIf your income hardly feels like it covers your necessary expenses, the idea of saving money can feel overwhelming. But a savings habit is absolutely necessary if you ever want to [reach your financial goals](https:\/\/www.credible.com\/my-money-plan\/quiz?utm_source=credible_blog&utm_medium=blog&utm_campaign=%2Fpersonal-finance%2Fhow-to-save-money).\n\nWhen you consistently set money aside, you'll experience these benefits:\n\n- **Greater financial security:** Unexpected expenses will no longer derail your budget since you have cash available to cover them.\n- **Clearer timelines:** You can plan your short-term and long-term goals, such as going on vacation or buying a house, because you'll have a clear idea of when you'll meet the savings goals.\n- **Less stress:** Knowing how you'll pay for both unexpected expenses and future goals can help lower your financial stress levels.\n## How to create a money-saving plan\nYou've probably heard the advice to save three to six months' worth of expenses for emergencies like job loss. While that's a solid long-term goal, it can feel overwhelming, especially if you're starting from zero. A more realistic first step is to set a smaller, attainable savings goal.\n\n![tip Icon](data:image\/png;base64,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)\n\nTip\n\nIf you’re starting from zero, set a first savings target of \\$1,000. That’s often enough to handle common emergencies, like a car repair or medical bill, and it’s a realistic amount for most people to work toward.\n\nEven if you feel like there's no slack in your budget, there are several strategies you can use to find money to set aside, including:\n\n- **Automate your savings:** Set up an automatic transfer of \\$20 (or whatever amount you won't miss) from each paycheck to your savings account.\n- **Save a portion of any “found” money:** Put aside part of any windfalls like tax refunds, bonuses, or birthday money.\n- **Track your spending:** Look for small expenses you can cut, such as unused subscriptions or frequent takeout.\n\n**Learn More:** [How To Start an Emergency Fund](https:\/\/www.credible.com\/personal-loan\/how-to-start-an-emergency-fund)\n\n## Best ways to save money daily\nDay-to-day spending can be a good place to start looking for ways to save, particularly once you've identified unnecessary expenses. For example, many of us continue to pay for subscriptions that we no longer use. Taking some time to identify all the services you're subscribed to and canceling the ones you don't want will immediately save you money every month.\n\nDr. Darla Bishop, author of “How To Afford Everything,” offers several other suggestions for saving money on your daily expenses:\n\n- Download the apps for your grocery store to take advantage of digital coupons.\n- Consider switching some of your shopping to discount stores like Aldi or box stores like Costco, BJ's, or Sam's Club.\n- Use an app like [Ibotta](https:\/\/home.ibotta.com\/) or [Rakuten](https:\/\/www.rakuten.com\/) to earn cash back on the things you buy.\n- Check with your employee benefits for discount programs your employer has arranged. You may be eligible for discounts on items you buy every week or month.\n- Create a separate email inbox for any online retail checkouts. Then, move all marketing emails you're currently signed up for into that separate email account. This will keep you from being tempted by sales emails in your daily inbox.\n- Check your credit card benefits. You may have built-in discounts or special pricing for your favorite streaming service, delivery app, or retailer.\n## How to save money on major expenses\nWhile saving money on daily expenses can add up, you can also lower the cost of your major expenses to save a large amount in one fell swoop. Consider these money-saving strategies:\n\n### Housing costs\nHousing and utility bills are the biggest monthly expenditures in most budgets. If you have a move coming up, Bishop recommends negotiating rent and move-in fees. Downsizing to a smaller home can also help reduce your housing and utility costs.\n\nIn addition, you can keep utility costs down by using ceiling fans to reduce heating and cooling usage, weatherproofing your windows and doors, and running your large appliances (such as dishwasher, washing machine, or dryer) in the evening.\n\nYou can also lower your homeowners or renters insurance premiums by increasing your deductible. Just make sure you can cover the higher deductible if you need to make a claim.\n\n### Groceries and meal planning\nReducing your food waste can save you a lot of money over the course of a year. The [U.S. Environmental Protection Agency](https:\/\/19january2017snapshot.epa.gov\/sustainable-management-food\/united-states-2030-food-loss-and-waste-reduction-goal_.html#:~:text=Using%20the%20available%20data%2C%202010%20was%20selected%20as%20a%20baseline%20at%20218.9%20pounds%20of%20food%20waste%20per%20person%20sent%20for%20disposal.) estimates that the average American wastes nearly 219 pounds of food per year. Meal planning is one good strategy for ensuring you use the food you purchase.\n\nAnother important strategy is being aware of what you already have in your kitchen. “Do a monthly freezer and pantry audit,” says Bishop. “That ensures you aren't buying duplicate items — or missing the opportunity to turn wilted veggies into a delicious rice bake or risotto with that arborio rice you bought last year.”\n\n### Transportation costs\nCutting back on transportation costs is another way to free up money in your budget. For example, you might reduce the amount of time you drive by carpooling, batching errands, or walking or using public transportation more often. This can help you save on gas money.\n\nYou can also look for savings on car insurance. Increasing your deductible may lower your premium, and if you drive an older car, it might be worth reviewing your coverage levels to see if you're paying for more protection than you need.\n\n### Major expenses\nIf you're making a major purchase, such as a car, a new computer, or a [piece of furniture](https:\/\/www.credible.com\/personal-loan\/furniture-loans), a little persistence and patience can help you save a lot of money.\n\nJim Wang, entrepreneur, personal finance expert, and founder of WalletHacks.com, says one of the easiest ways to save on big purchases is by simply asking for a discount. Wang, who previously founded the blog Bargaineering and sold it for seven figures, recommends getting comfortable with negotiation.\n\n“Whenever you buy something significant, there is always some discount the salesperson can get for you because they want the sale, too,” Wang says. “Sometimes all it takes is for you to ask, ‘Is there any sale or promotion you can apply?’”\n\nHe adds that timing is key. If you're not in a rush, the salesperson may either offer a deal on the spot or let you know when the next sale is happening. Waiting it out can lead to bigger savings.\n\n## Where to put your savings\nOnce you choose a place to keep your savings, set up automatic transfers right away. This makes saving consistent and effortless. Money moves from your paycheck or checking account to your savings account, without you having to think about it.\n\nThere are several types of savings accounts to consider:\n\n- **Traditional savings accounts:** These are available through traditional banks and credit unions and can be linked to a checking account with the same institution. This makes money in a [traditional savings account](https:\/\/www.credible.com\/personal-finance\/checking-vs-savings-account) easy to access. These accounts often have a very low interest rate and no minimum required balance.\n- **High-yield savings account:** These offer better interest rates than traditional savings accounts, but they may require a high minimum balance. Keep in mind that many [high-yield savings accounts](https:\/\/www.credible.com\/savings) are offered by online-only banks, which can mean transfers from the savings account to your checking account take a couple of days to clear.\n- **Certificates of deposit (CDs):** These products tie up your money for a set period of time — typically between 6 months and 5 years. When the CD matures (reaches the end of its time limit), you get your money back plus interest. While the yield on CDs tends to be higher than what you can earn from savings accounts, you will pay a penalty if you try to access your money before the maturity date.\n- **Money market accounts:** These types of deposit accounts offer higher interest rates than traditional or high-yield savings accounts and will often allow you to make payments or withdrawals like a checking account. However, money market accounts typically have a high minimum deposit requirement, and they limit the number of transactions you can make per month.\n## Tips for staying on track with savings\nSaving isn't a one-time task; it's a habit you build over time. To stay consistent, you'll need to be intentional about making it part of your routine. Here are a few ways to keep your savings on track, even when it's easy to forget about it:\n\n- **Try 50\/30\/20 budgeting:** This easy-to-remember budgeting technique suggests spending no more than 50% of your income on things you need (like rent, groceries, and transportation), 30% on things you want (like dining out, streaming services, and concerts), and setting aside the remaining 20% for savings. The trick to this budgeting strategy is to make sure you set aside the 20% for savings first, before you begin spending.\n- **Review regularly:** Review your spending regularly to ensure you haven't slipped into old bad habits or picked up new ones. By committing to a monthly or quarterly review, you can adjust your saving and spending habits if they've fallen out of sync.\n- **Avoid lifestyle inflation:** It's easy for your spending to grow when your income does. To keep this from happening, increase your savings rate each time you get a raise or other increase in your income. That way your higher income goes toward your savings goals rather than lifestyle inflation.\n## FAQ\n### What is the best way to start saving money?\nOpen\n\n### How much should I save each month?\nOpen\n\n### What are the best savings accounts for earning interest?\nOpen\n\n### How can I save money if I live paycheck to paycheck?\nOpen\n\n### What are the most common money-saving mistakes?\nOpen\n\nMeet the expert:\n\nEmily Guy Birken\n\n![Emily Guy Birken](https:\/\/cdn.credible.com\/content-images\/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=131&height=131&pixel_ratio=1)\n\n[Emily Guy Birken](https:\/\/www.credible.com\/author\/emily-guy-birken) is an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch.","meta_canonical":null,"ml_categories_json":"","ml_types_json":"","ml_intent_types_json":"","meta_language":"en","attrs_author":"Emily Guy Birken","attrs_publish_time":1743804923,"attrs_original_publish_time":1743804923,"attrs_is_republished":0,"attrs_nr_words":"3706","attrs_boilerpipe_nr_words":"1771","body_ext_links_number":13,"body_int_links_number":118,"meta_nofollow":0,"meta_noarchive":0,"props_was_rendered":0,"src_redirect":"","download_time_msec":293,"download_ttfb_msec":245,"download_size":594649}

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Meta Title	How To Save Money: Strategies for Every Budget
Meta Description	Looking to build better savings habits? Learn how to save money by cutting expenses, setting realistic goals, and choosing the right account to grow your money.
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Boilerpipe Text	Credible takeaways Starting a savings habit can lead to greater financial security, clearer timelines for your goals, and lower stress levels. Give yourself an attainable savings goal to start, such as a $1,000 emergency fund. Cutting back on both day-to-day expenses and major purchases can free up more money for your savings. Consider diversifying your savings into traditional and high-yield savings accounts, certificates of deposit (CDs), and money market accounts. Nearly four out of 10 Americans say they can't cover a $400 emergency with cash, according to the Federal Reserve . Without savings, many people are forced to take on debt or skip the expense entirely. Either option can make it even more difficult to get ahead financially. Saving money for both expected and unexpected expenses is one of the best ways to avoid falling behind. If you're ready to stop living paycheck to paycheck, here's what you need to know about how to save money and build long-term financial stability. Why saving money is important If your income hardly feels like it covers your necessary expenses, the idea of saving money can feel overwhelming. But a savings habit is absolutely necessary if you ever want to reach your financial goals . When you consistently set money aside, you'll experience these benefits: Greater financial security: Unexpected expenses will no longer derail your budget since you have cash available to cover them. Clearer timelines: You can plan your short-term and long-term goals, such as going on vacation or buying a house, because you'll have a clear idea of when you'll meet the savings goals. Less stress: Knowing how you'll pay for both unexpected expenses and future goals can help lower your financial stress levels. How to create a money-saving plan You've probably heard the advice to save three to six months' worth of expenses for emergencies like job loss. While that's a solid long-term goal, it can feel overwhelming, especially if you're starting from zero. A more realistic first step is to set a smaller, attainable savings goal. Tip If you’re starting from zero, set a first savings target of $1,000. That’s often enough to handle common emergencies, like a car repair or medical bill, and it’s a realistic amount for most people to work toward. Even if you feel like there's no slack in your budget, there are several strategies you can use to find money to set aside, including: Automate your savings: Set up an automatic transfer of $20 (or whatever amount you won't miss) from each paycheck to your savings account. Save a portion of any “found” money: Put aside part of any windfalls like tax refunds, bonuses, or birthday money. Track your spending: Look for small expenses you can cut, such as unused subscriptions or frequent takeout. Learn More: How To Start an Emergency Fund Best ways to save money daily Day-to-day spending can be a good place to start looking for ways to save, particularly once you've identified unnecessary expenses. For example, many of us continue to pay for subscriptions that we no longer use. Taking some time to identify all the services you're subscribed to and canceling the ones you don't want will immediately save you money every month. Dr. Darla Bishop, author of “How To Afford Everything,” offers several other suggestions for saving money on your daily expenses: Download the apps for your grocery store to take advantage of digital coupons. Consider switching some of your shopping to discount stores like Aldi or box stores like Costco, BJ's, or Sam's Club. Use an app like Ibotta or Rakuten to earn cash back on the things you buy. Check with your employee benefits for discount programs your employer has arranged. You may be eligible for discounts on items you buy every week or month. Create a separate email inbox for any online retail checkouts. Then, move all marketing emails you're currently signed up for into that separate email account. This will keep you from being tempted by sales emails in your daily inbox. Check your credit card benefits. You may have built-in discounts or special pricing for your favorite streaming service, delivery app, or retailer. How to save money on major expenses While saving money on daily expenses can add up, you can also lower the cost of your major expenses to save a large amount in one fell swoop. Consider these money-saving strategies: Housing costs Housing and utility bills are the biggest monthly expenditures in most budgets. If you have a move coming up, Bishop recommends negotiating rent and move-in fees. Downsizing to a smaller home can also help reduce your housing and utility costs. In addition, you can keep utility costs down by using ceiling fans to reduce heating and cooling usage, weatherproofing your windows and doors, and running your large appliances (such as dishwasher, washing machine, or dryer) in the evening. You can also lower your homeowners or renters insurance premiums by increasing your deductible. Just make sure you can cover the higher deductible if you need to make a claim. Groceries and meal planning Reducing your food waste can save you a lot of money over the course of a year. The U.S. Environmental Protection Agency estimates that the average American wastes nearly 219 pounds of food per year. Meal planning is one good strategy for ensuring you use the food you purchase. Another important strategy is being aware of what you already have in your kitchen. “Do a monthly freezer and pantry audit,” says Bishop. “That ensures you aren't buying duplicate items — or missing the opportunity to turn wilted veggies into a delicious rice bake or risotto with that arborio rice you bought last year.” Transportation costs Cutting back on transportation costs is another way to free up money in your budget. For example, you might reduce the amount of time you drive by carpooling, batching errands, or walking or using public transportation more often. This can help you save on gas money. You can also look for savings on car insurance. Increasing your deductible may lower your premium, and if you drive an older car, it might be worth reviewing your coverage levels to see if you're paying for more protection than you need. Major expenses If you're making a major purchase, such as a car, a new computer, or a piece of furniture , a little persistence and patience can help you save a lot of money. Jim Wang, entrepreneur, personal finance expert, and founder of WalletHacks.com, says one of the easiest ways to save on big purchases is by simply asking for a discount. Wang, who previously founded the blog Bargaineering and sold it for seven figures, recommends getting comfortable with negotiation. “Whenever you buy something significant, there is always some discount the salesperson can get for you because they want the sale, too,” Wang says. “Sometimes all it takes is for you to ask, ‘Is there any sale or promotion you can apply?’” He adds that timing is key. If you're not in a rush, the salesperson may either offer a deal on the spot or let you know when the next sale is happening. Waiting it out can lead to bigger savings. Where to put your savings Once you choose a place to keep your savings, set up automatic transfers right away. This makes saving consistent and effortless. Money moves from your paycheck or checking account to your savings account, without you having to think about it. There are several types of savings accounts to consider: Traditional savings accounts: These are available through traditional banks and credit unions and can be linked to a checking account with the same institution. This makes money in a traditional savings account easy to access. These accounts often have a very low interest rate and no minimum required balance. High-yield savings account: These offer better interest rates than traditional savings accounts, but they may require a high minimum balance. Keep in mind that many high-yield savings accounts are offered by online-only banks, which can mean transfers from the savings account to your checking account take a couple of days to clear. Certificates of deposit (CDs): These products tie up your money for a set period of time — typically between 6 months and 5 years. When the CD matures (reaches the end of its time limit), you get your money back plus interest. While the yield on CDs tends to be higher than what you can earn from savings accounts, you will pay a penalty if you try to access your money before the maturity date. Money market accounts: These types of deposit accounts offer higher interest rates than traditional or high-yield savings accounts and will often allow you to make payments or withdrawals like a checking account. However, money market accounts typically have a high minimum deposit requirement, and they limit the number of transactions you can make per month. Tips for staying on track with savings Saving isn't a one-time task; it's a habit you build over time. To stay consistent, you'll need to be intentional about making it part of your routine. Here are a few ways to keep your savings on track, even when it's easy to forget about it: Try 50/30/20 budgeting: This easy-to-remember budgeting technique suggests spending no more than 50% of your income on things you need (like rent, groceries, and transportation), 30% on things you want (like dining out, streaming services, and concerts), and setting aside the remaining 20% for savings. The trick to this budgeting strategy is to make sure you set aside the 20% for savings first, before you begin spending. Review regularly: Review your spending regularly to ensure you haven't slipped into old bad habits or picked up new ones. By committing to a monthly or quarterly review, you can adjust your saving and spending habits if they've fallen out of sync. Avoid lifestyle inflation: It's easy for your spending to grow when your income does. To keep this from happening, increase your savings rate each time you get a raise or other increase in your income. That way your higher income goes toward your savings goals rather than lifestyle inflation. FAQ What is the best way to start saving money? Open How much should I save each month? Open What are the best savings accounts for earning interest? Open How can I save money if I live paycheck to paycheck? Open What are the most common money-saving mistakes? Open Meet the expert: Emily Guy Birken Emily Guy Birken is an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch.
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You just need a plan that works for where you are right now. ![Author](https://cdn.credible.com/content-images/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=50&height=50&pixel_ratio=1) By Emily Guy Birken ![Emily Guy Birken](https://cdn.credible.com/content-images/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=56&height=56&pixel_ratio=1) [LinkedIn](https://www.linkedin.com/in/emilyguybirken/) Written by [Emily Guy Birken](https://www.credible.com/author/emily-guy-birken) Freelance writer Emily Guy Birken is an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch. ![Emily Guy Birken](https://cdn.credible.com/content-images/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=56&height=56&pixel_ratio=1) [LinkedIn](https://www.linkedin.com/in/emilyguybirken/) Written by [Emily Guy Birken](https://www.credible.com/author/emily-guy-birken) Freelance writer Emily Guy Birken is an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch. Edited by Renee Fleck ![Renee Fleck](https://cdn.credible.com/content-images/92679df5-94bf-4cc0-8926-21976d75e548?width=56&height=56&pixel_ratio=1) [LinkedIn](https://www.linkedin.com/in/reneefleck) Written by [Renee Fleck](https://www.credible.com/author/renee-fleck) Renee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places. ![Renee Fleck](https://cdn.credible.com/content-images/92679df5-94bf-4cc0-8926-21976d75e548?width=56&height=56&pixel_ratio=1) [LinkedIn](https://www.linkedin.com/in/reneefleck) Written by [Renee Fleck](https://www.credible.com/author/renee-fleck) Renee Fleck is a student loans editor with over six years of experience. Her work has been featured in Fast Company, Morning Brew, and Sidebar.io, among other online publications. She is fluent in Spanish and French and enjoys traveling to new places. Reviewed by Richard Richtmyer ![Richard Richtmyer](https://cdn.credible.com/content-images/dc822c4f-ed95-4dac-a6b0-c57861a7959d?width=56&height=56&pixel_ratio=1) [LinkedIn](https://www.linkedin.com/in/richtmyer01) Written by [Richard Richtmyer](https://www.credible.com/author/richard-richtmyer) Richard Richtmyer is a senior editor with over 20 years of finance experience. He's an expert on student loans, capital markets, investing, real estate, technology, business, government, and politics. ![Richard Richtmyer](https://cdn.credible.com/content-images/dc822c4f-ed95-4dac-a6b0-c57861a7959d?width=56&height=56&pixel_ratio=1) [LinkedIn](https://www.linkedin.com/in/richtmyer01) Written by [Richard Richtmyer](https://www.credible.com/author/richard-richtmyer) Richard Richtmyer is a senior editor with over 20 years of finance experience. He's an expert on student loans, capital markets, investing, real estate, technology, business, government, and politics. Updated April 4, 2025 Editorial disclosure: Our goal is to give you the tools and confidence you need to improve your finances. Although we receive compensation from our partner lenders, whom we will always identify, all opinions are our own. Credible Operations, Inc. NMLS \# 1681276, is referred to here as “Credible.” ![Featured](https://cdn.credible.com/content-images/418044c2-37ca-4513-81a8-fe45461e9e69?width=472&height=331&pixel_ratio=2?width=472&height=331&pixel_ratio=1) CONTENT TABLE OF CONTENTS View All ### Credible takeaways - Starting a savings habit can lead to greater financial security, clearer timelines for your goals, and lower stress levels. - Give yourself an attainable savings goal to start, such as a \$1,000 emergency fund. - Cutting back on both day-to-day expenses and major purchases can free up more money for your savings. - Consider diversifying your savings into traditional and high-yield savings accounts, certificates of deposit (CDs), and money market accounts. ### Get your financial goals on track Free credit score, automatic debt tracking, and goal setting all in one place. [Get Started](https://www.credible.com/login?redirectTo=%2Fhub%2Ffinancial-tools) ![](https://cdn.credible.com/content-images/95cb9c03-4b52-48e6-96e0-20999155becb) Nearly four out of 10 Americans say they can't cover a \$400 emergency with cash, according to the [Federal Reserve](https://www.federalreserve.gov/publications/2023-economic-well-being-of-us-households-in-2022-expenses.htm). Without savings, many people are forced to take on debt or skip the expense entirely. Either option can make it even more difficult to get ahead financially. Saving money for both expected and unexpected expenses is one of the best ways to avoid falling behind. If you're ready to stop living paycheck to paycheck, here's what you need to know about how to save money and build long-term financial stability. ## Why saving money is important If your income hardly feels like it covers your necessary expenses, the idea of saving money can feel overwhelming. But a savings habit is absolutely necessary if you ever want to [reach your financial goals](https://www.credible.com/my-money-plan/quiz?utm_source=credible_blog&utm_medium=blog&utm_campaign=%2Fpersonal-finance%2Fhow-to-save-money). When you consistently set money aside, you'll experience these benefits: - Greater financial security: Unexpected expenses will no longer derail your budget since you have cash available to cover them. - Clearer timelines: You can plan your short-term and long-term goals, such as going on vacation or buying a house, because you'll have a clear idea of when you'll meet the savings goals. - Less stress: Knowing how you'll pay for both unexpected expenses and future goals can help lower your financial stress levels. ## How to create a money-saving plan You've probably heard the advice to save three to six months' worth of expenses for emergencies like job loss. While that's a solid long-term goal, it can feel overwhelming, especially if you're starting from zero. A more realistic first step is to set a smaller, attainable savings goal. ![tip Icon](data:image/png;base64,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) Tip If you’re starting from zero, set a first savings target of \$1,000. That’s often enough to handle common emergencies, like a car repair or medical bill, and it’s a realistic amount for most people to work toward. Even if you feel like there's no slack in your budget, there are several strategies you can use to find money to set aside, including: - Automate your savings: Set up an automatic transfer of \$20 (or whatever amount you won't miss) from each paycheck to your savings account. - Save a portion of any “found” money: Put aside part of any windfalls like tax refunds, bonuses, or birthday money. - Track your spending: Look for small expenses you can cut, such as unused subscriptions or frequent takeout. Learn More: [How To Start an Emergency Fund](https://www.credible.com/personal-loan/how-to-start-an-emergency-fund) ## Best ways to save money daily Day-to-day spending can be a good place to start looking for ways to save, particularly once you've identified unnecessary expenses. For example, many of us continue to pay for subscriptions that we no longer use. Taking some time to identify all the services you're subscribed to and canceling the ones you don't want will immediately save you money every month. Dr. Darla Bishop, author of “How To Afford Everything,” offers several other suggestions for saving money on your daily expenses: - Download the apps for your grocery store to take advantage of digital coupons. - Consider switching some of your shopping to discount stores like Aldi or box stores like Costco, BJ's, or Sam's Club. - Use an app like [Ibotta](https://home.ibotta.com/) or [Rakuten](https://www.rakuten.com/) to earn cash back on the things you buy. - Check with your employee benefits for discount programs your employer has arranged. You may be eligible for discounts on items you buy every week or month. - Create a separate email inbox for any online retail checkouts. Then, move all marketing emails you're currently signed up for into that separate email account. This will keep you from being tempted by sales emails in your daily inbox. - Check your credit card benefits. You may have built-in discounts or special pricing for your favorite streaming service, delivery app, or retailer. ## How to save money on major expenses While saving money on daily expenses can add up, you can also lower the cost of your major expenses to save a large amount in one fell swoop. Consider these money-saving strategies: ### Housing costs Housing and utility bills are the biggest monthly expenditures in most budgets. If you have a move coming up, Bishop recommends negotiating rent and move-in fees. Downsizing to a smaller home can also help reduce your housing and utility costs. In addition, you can keep utility costs down by using ceiling fans to reduce heating and cooling usage, weatherproofing your windows and doors, and running your large appliances (such as dishwasher, washing machine, or dryer) in the evening. You can also lower your homeowners or renters insurance premiums by increasing your deductible. Just make sure you can cover the higher deductible if you need to make a claim. ### Groceries and meal planning Reducing your food waste can save you a lot of money over the course of a year. The [U.S. Environmental Protection Agency](https://19january2017snapshot.epa.gov/sustainable-management-food/united-states-2030-food-loss-and-waste-reduction-goal_.html#:~:text=Using%20the%20available%20data%2C%202010%20was%20selected%20as%20a%20baseline%20at%20218.9%20pounds%20of%20food%20waste%20per%20person%20sent%20for%20disposal.) estimates that the average American wastes nearly 219 pounds of food per year. Meal planning is one good strategy for ensuring you use the food you purchase. Another important strategy is being aware of what you already have in your kitchen. “Do a monthly freezer and pantry audit,” says Bishop. “That ensures you aren't buying duplicate items — or missing the opportunity to turn wilted veggies into a delicious rice bake or risotto with that arborio rice you bought last year.” ### Transportation costs Cutting back on transportation costs is another way to free up money in your budget. For example, you might reduce the amount of time you drive by carpooling, batching errands, or walking or using public transportation more often. This can help you save on gas money. You can also look for savings on car insurance. Increasing your deductible may lower your premium, and if you drive an older car, it might be worth reviewing your coverage levels to see if you're paying for more protection than you need. ### Major expenses If you're making a major purchase, such as a car, a new computer, or a [piece of furniture](https://www.credible.com/personal-loan/furniture-loans), a little persistence and patience can help you save a lot of money. Jim Wang, entrepreneur, personal finance expert, and founder of WalletHacks.com, says one of the easiest ways to save on big purchases is by simply asking for a discount. Wang, who previously founded the blog Bargaineering and sold it for seven figures, recommends getting comfortable with negotiation. “Whenever you buy something significant, there is always some discount the salesperson can get for you because they want the sale, too,” Wang says. “Sometimes all it takes is for you to ask, ‘Is there any sale or promotion you can apply?’” He adds that timing is key. If you're not in a rush, the salesperson may either offer a deal on the spot or let you know when the next sale is happening. Waiting it out can lead to bigger savings. ## Where to put your savings Once you choose a place to keep your savings, set up automatic transfers right away. This makes saving consistent and effortless. Money moves from your paycheck or checking account to your savings account, without you having to think about it. There are several types of savings accounts to consider: - Traditional savings accounts: These are available through traditional banks and credit unions and can be linked to a checking account with the same institution. This makes money in a [traditional savings account](https://www.credible.com/personal-finance/checking-vs-savings-account) easy to access. These accounts often have a very low interest rate and no minimum required balance. - High-yield savings account: These offer better interest rates than traditional savings accounts, but they may require a high minimum balance. Keep in mind that many [high-yield savings accounts](https://www.credible.com/savings) are offered by online-only banks, which can mean transfers from the savings account to your checking account take a couple of days to clear. - Certificates of deposit (CDs): These products tie up your money for a set period of time — typically between 6 months and 5 years. When the CD matures (reaches the end of its time limit), you get your money back plus interest. While the yield on CDs tends to be higher than what you can earn from savings accounts, you will pay a penalty if you try to access your money before the maturity date. - Money market accounts: These types of deposit accounts offer higher interest rates than traditional or high-yield savings accounts and will often allow you to make payments or withdrawals like a checking account. However, money market accounts typically have a high minimum deposit requirement, and they limit the number of transactions you can make per month. ## Tips for staying on track with savings Saving isn't a one-time task; it's a habit you build over time. To stay consistent, you'll need to be intentional about making it part of your routine. Here are a few ways to keep your savings on track, even when it's easy to forget about it: - Try 50/30/20 budgeting: This easy-to-remember budgeting technique suggests spending no more than 50% of your income on things you need (like rent, groceries, and transportation), 30% on things you want (like dining out, streaming services, and concerts), and setting aside the remaining 20% for savings. The trick to this budgeting strategy is to make sure you set aside the 20% for savings first, before you begin spending. - Review regularly: Review your spending regularly to ensure you haven't slipped into old bad habits or picked up new ones. By committing to a monthly or quarterly review, you can adjust your saving and spending habits if they've fallen out of sync. - Avoid lifestyle inflation: It's easy for your spending to grow when your income does. To keep this from happening, increase your savings rate each time you get a raise or other increase in your income. That way your higher income goes toward your savings goals rather than lifestyle inflation. ## FAQ ### What is the best way to start saving money? Open The best way to start saving money is to set up an automatic transfer of a small amount of money from your paycheck into your savings account. You can increase the amount of the transfer over time. ### How much should I save each month? Open The right amount of money to save each month will vary from one person to another, but a good rule of thumb is to aim for a 20% savings rate. If that's not realistic right now, start with what you can and increase your savings over time. ### What are the best savings accounts for earning interest? Open Savers typically earn the most interest from money market accounts, although these accounts have high minimum deposit requirements. High-yield savings accounts also typically offer higher interest rates than traditional savings accounts. ### How can I save money if I live paycheck to paycheck? Open Setting up an automatic transfer of a small amount of money (\$20 or less) from each paycheck can help you start building your savings. You can also put a portion of any found money, such as tax refunds, gifts, or bonuses, into your savings to help it grow. ### What are the most common money-saving mistakes? Open The biggest mistake is assuming that you can't possibly save money or that it won't make a difference. Anything you can save is better than nothing. Another is not tracking your spending. You might be surprised at how much you can save by cutting a few recurring expenses or unnecessary purchases. Meet the expert: Emily Guy Birken ![Emily Guy Birken](https://cdn.credible.com/content-images/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=131&height=131&pixel_ratio=1) [LinkedIn](https://www.linkedin.com/in/emilyguybirken/) [Emily Guy Birken](https://www.credible.com/author/emily-guy-birken) is an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch. ### Related articles [![How To Create a Budget: A Step-By-Step Guide](https://cdn.credible.com/content-images/84830aef-4cac-44ee-9d6a-f19b1c846eec?width=254&height=168&pixel_ratio=1)](https://www.credible.com/personal-finance/how-to-create-a-budget) [Personal Finance](https://www.credible.com/personal-finance)[How To Create a Budget: A Step-By-Step Guide](https://www.credible.com/personal-finance/how-to-create-a-budget) [![How To Pay Off Credit Card Debt](https://cdn.credible.com/content-images/07586bbd-1789-41cd-a8b9-fff5cba4a579?width=254&height=168&pixel_ratio=1)](https://www.credible.com/personal-loan/credit-card-consolidation-loans/pay-off-credit-card-debt) [Personal Loans](https://www.credible.com/personal-loan)[How To Pay Off Credit Card Debt](https://www.credible.com/personal-loan/credit-card-consolidation-loans/pay-off-credit-card-debt) [![How To Start an Emergency Fund](https://cdn.credible.com/content-images/96d2fbc5-d724-45c0-be1d-144568aee16a?width=254&height=168&pixel_ratio=1)](https://www.credible.com/personal-loan/how-to-start-an-emergency-fund) [Personal Loans](https://www.credible.com/personal-loan)[How To Start an Emergency Fund](https://www.credible.com/personal-loan/how-to-start-an-emergency-fund) PRODUCT - 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Readable Markdown	### Credible takeaways - Starting a savings habit can lead to greater financial security, clearer timelines for your goals, and lower stress levels. - Give yourself an attainable savings goal to start, such as a \$1,000 emergency fund. - Cutting back on both day-to-day expenses and major purchases can free up more money for your savings. - Consider diversifying your savings into traditional and high-yield savings accounts, certificates of deposit (CDs), and money market accounts. Nearly four out of 10 Americans say they can't cover a \$400 emergency with cash, according to the [Federal Reserve](https://www.federalreserve.gov/publications/2023-economic-well-being-of-us-households-in-2022-expenses.htm). Without savings, many people are forced to take on debt or skip the expense entirely. Either option can make it even more difficult to get ahead financially. Saving money for both expected and unexpected expenses is one of the best ways to avoid falling behind. If you're ready to stop living paycheck to paycheck, here's what you need to know about how to save money and build long-term financial stability. ## Why saving money is important If your income hardly feels like it covers your necessary expenses, the idea of saving money can feel overwhelming. But a savings habit is absolutely necessary if you ever want to [reach your financial goals](https://www.credible.com/my-money-plan/quiz?utm_source=credible_blog&utm_medium=blog&utm_campaign=%2Fpersonal-finance%2Fhow-to-save-money). When you consistently set money aside, you'll experience these benefits: - Greater financial security: Unexpected expenses will no longer derail your budget since you have cash available to cover them. - Clearer timelines: You can plan your short-term and long-term goals, such as going on vacation or buying a house, because you'll have a clear idea of when you'll meet the savings goals. - Less stress: Knowing how you'll pay for both unexpected expenses and future goals can help lower your financial stress levels. ## How to create a money-saving plan You've probably heard the advice to save three to six months' worth of expenses for emergencies like job loss. While that's a solid long-term goal, it can feel overwhelming, especially if you're starting from zero. A more realistic first step is to set a smaller, attainable savings goal. ![tip Icon](data:image/png;base64,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) Tip If you’re starting from zero, set a first savings target of \$1,000. That’s often enough to handle common emergencies, like a car repair or medical bill, and it’s a realistic amount for most people to work toward. Even if you feel like there's no slack in your budget, there are several strategies you can use to find money to set aside, including: - Automate your savings: Set up an automatic transfer of \$20 (or whatever amount you won't miss) from each paycheck to your savings account. - Save a portion of any “found” money: Put aside part of any windfalls like tax refunds, bonuses, or birthday money. - Track your spending: Look for small expenses you can cut, such as unused subscriptions or frequent takeout. Learn More: [How To Start an Emergency Fund](https://www.credible.com/personal-loan/how-to-start-an-emergency-fund) ## Best ways to save money daily Day-to-day spending can be a good place to start looking for ways to save, particularly once you've identified unnecessary expenses. For example, many of us continue to pay for subscriptions that we no longer use. Taking some time to identify all the services you're subscribed to and canceling the ones you don't want will immediately save you money every month. Dr. Darla Bishop, author of “How To Afford Everything,” offers several other suggestions for saving money on your daily expenses: - Download the apps for your grocery store to take advantage of digital coupons. - Consider switching some of your shopping to discount stores like Aldi or box stores like Costco, BJ's, or Sam's Club. - Use an app like [Ibotta](https://home.ibotta.com/) or [Rakuten](https://www.rakuten.com/) to earn cash back on the things you buy. - Check with your employee benefits for discount programs your employer has arranged. You may be eligible for discounts on items you buy every week or month. - Create a separate email inbox for any online retail checkouts. Then, move all marketing emails you're currently signed up for into that separate email account. This will keep you from being tempted by sales emails in your daily inbox. - Check your credit card benefits. You may have built-in discounts or special pricing for your favorite streaming service, delivery app, or retailer. ## How to save money on major expenses While saving money on daily expenses can add up, you can also lower the cost of your major expenses to save a large amount in one fell swoop. Consider these money-saving strategies: ### Housing costs Housing and utility bills are the biggest monthly expenditures in most budgets. If you have a move coming up, Bishop recommends negotiating rent and move-in fees. Downsizing to a smaller home can also help reduce your housing and utility costs. In addition, you can keep utility costs down by using ceiling fans to reduce heating and cooling usage, weatherproofing your windows and doors, and running your large appliances (such as dishwasher, washing machine, or dryer) in the evening. You can also lower your homeowners or renters insurance premiums by increasing your deductible. Just make sure you can cover the higher deductible if you need to make a claim. ### Groceries and meal planning Reducing your food waste can save you a lot of money over the course of a year. The [U.S. Environmental Protection Agency](https://19january2017snapshot.epa.gov/sustainable-management-food/united-states-2030-food-loss-and-waste-reduction-goal_.html#:~:text=Using%20the%20available%20data%2C%202010%20was%20selected%20as%20a%20baseline%20at%20218.9%20pounds%20of%20food%20waste%20per%20person%20sent%20for%20disposal.) estimates that the average American wastes nearly 219 pounds of food per year. Meal planning is one good strategy for ensuring you use the food you purchase. Another important strategy is being aware of what you already have in your kitchen. “Do a monthly freezer and pantry audit,” says Bishop. “That ensures you aren't buying duplicate items — or missing the opportunity to turn wilted veggies into a delicious rice bake or risotto with that arborio rice you bought last year.” ### Transportation costs Cutting back on transportation costs is another way to free up money in your budget. For example, you might reduce the amount of time you drive by carpooling, batching errands, or walking or using public transportation more often. This can help you save on gas money. You can also look for savings on car insurance. Increasing your deductible may lower your premium, and if you drive an older car, it might be worth reviewing your coverage levels to see if you're paying for more protection than you need. ### Major expenses If you're making a major purchase, such as a car, a new computer, or a [piece of furniture](https://www.credible.com/personal-loan/furniture-loans), a little persistence and patience can help you save a lot of money. Jim Wang, entrepreneur, personal finance expert, and founder of WalletHacks.com, says one of the easiest ways to save on big purchases is by simply asking for a discount. Wang, who previously founded the blog Bargaineering and sold it for seven figures, recommends getting comfortable with negotiation. “Whenever you buy something significant, there is always some discount the salesperson can get for you because they want the sale, too,” Wang says. “Sometimes all it takes is for you to ask, ‘Is there any sale or promotion you can apply?’” He adds that timing is key. If you're not in a rush, the salesperson may either offer a deal on the spot or let you know when the next sale is happening. Waiting it out can lead to bigger savings. ## Where to put your savings Once you choose a place to keep your savings, set up automatic transfers right away. This makes saving consistent and effortless. Money moves from your paycheck or checking account to your savings account, without you having to think about it. There are several types of savings accounts to consider: - Traditional savings accounts: These are available through traditional banks and credit unions and can be linked to a checking account with the same institution. This makes money in a [traditional savings account](https://www.credible.com/personal-finance/checking-vs-savings-account) easy to access. These accounts often have a very low interest rate and no minimum required balance. - High-yield savings account: These offer better interest rates than traditional savings accounts, but they may require a high minimum balance. Keep in mind that many [high-yield savings accounts](https://www.credible.com/savings) are offered by online-only banks, which can mean transfers from the savings account to your checking account take a couple of days to clear. - Certificates of deposit (CDs): These products tie up your money for a set period of time — typically between 6 months and 5 years. When the CD matures (reaches the end of its time limit), you get your money back plus interest. While the yield on CDs tends to be higher than what you can earn from savings accounts, you will pay a penalty if you try to access your money before the maturity date. - Money market accounts: These types of deposit accounts offer higher interest rates than traditional or high-yield savings accounts and will often allow you to make payments or withdrawals like a checking account. However, money market accounts typically have a high minimum deposit requirement, and they limit the number of transactions you can make per month. ## Tips for staying on track with savings Saving isn't a one-time task; it's a habit you build over time. To stay consistent, you'll need to be intentional about making it part of your routine. Here are a few ways to keep your savings on track, even when it's easy to forget about it: - Try 50/30/20 budgeting: This easy-to-remember budgeting technique suggests spending no more than 50% of your income on things you need (like rent, groceries, and transportation), 30% on things you want (like dining out, streaming services, and concerts), and setting aside the remaining 20% for savings. The trick to this budgeting strategy is to make sure you set aside the 20% for savings first, before you begin spending. - Review regularly: Review your spending regularly to ensure you haven't slipped into old bad habits or picked up new ones. By committing to a monthly or quarterly review, you can adjust your saving and spending habits if they've fallen out of sync. - Avoid lifestyle inflation: It's easy for your spending to grow when your income does. To keep this from happening, increase your savings rate each time you get a raise or other increase in your income. That way your higher income goes toward your savings goals rather than lifestyle inflation. ## FAQ ### What is the best way to start saving money? Open ### How much should I save each month? Open ### What are the best savings accounts for earning interest? Open ### How can I save money if I live paycheck to paycheck? Open ### What are the most common money-saving mistakes? Open Meet the expert: Emily Guy Birken ![Emily Guy Birken](https://cdn.credible.com/content-images/c439cf1f-f0bd-4e59-8815-6e831d6fc63b?width=131&height=131&pixel_ratio=1) [Emily Guy Birken](https://www.credible.com/author/emily-guy-birken) is an authority on student loans and personal finance. Her work has been featured by MSN Money and MarketWatch.
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