Saving money is something a lot of people want to do, but sometimes it feels like we’ve tried everything. If you’ve already stopped buying coffee every day and stopped paying for subscriptions you don’t use, it’s time to try some new ideas. Here are 10 unusual ways to save money that you might not have thought of yet.
10 Unique Ways to Save Money
1. Barter Services
Instead of spending money on services, think about trading with others. This old method can help you save money and make new friends in your community. Whether you need a haircut, help fixing your home, or someone to teach you, there could be someone who wants to swap their skills with yours.
For example, if you design graphics, you might offer your services to a local car mechanic in return for fixing your car. Or, if you’re a teacher, you could help a neighbor’s child with schoolwork in exchange for them taking care of your garden.
You can find chances to trade by looking on websites like Craigslist or in local Facebook groups. There are also special websites like Listia and BizX that make it simpler to find people who want to trade services or items. When you trade with someone, it’s important to be clear about what each person will do or give. Make sure both people are happy with the deal and agree on when the trade will happen.
Bartering not only saves you money but also fosters a sense of community and mutual support. By trading skills and services, you can build valuable relationships and networks that may benefit you in the future. Plus, it’s a sustainable practice that reduces the need for cash transactions and encourages resourcefulness.
2. House Hacking
House hacking means using your home to make money by renting out parts of it, which helps you pay your mortgage and makes owning a home cheaper.
This can lower your monthly housing bills or even get rid of them completely. You might rent out an extra room, your basement, or even your driveway for storing RVs or boats.
Websites like Airbnb make it simple to offer your space for rent. With Airbnb, you can let travelers stay in your room for short periods, often charging more than you would for a long-term rental. You can also choose when your space is available, so renting works well with your life.
For longer rentals, you could rent out your basement or a fully furnished room to someone. Sites like Zillow and Craigslist can help you find good renters. If you have a garage or driveway, you can rent these out for storage, which is helpful for people who need a place to park their RVs, boats, or extra cars.
3. Cashback Apps for Bills
Lots of folks use cashback apps when they shop, but did you know some of these apps also give you cashback on your regular bills? This not-so-famous option can help you cut down on your regular costs.
Apps such as Dosh and Rakuten work with companies that give you rewards for paying your usual bills like electricity, phone, and even rent. Using these apps, you can lower your monthly costs without needing to change how you spend.
How It Works
Cashback apps team up with different businesses to give users a part of what they spend back as cash. When you use these apps to pay your bills or connect your payment options, you get some of your money back. Little by little, these small returns can grow into big savings.
Popular Cashback Apps
- Dosh: Dosh gives you automatic cashback when you use linked cards to pay at stores that take part in the program, like some places where you pay for utilities and services. When you get $25 in cashback, you can move the money to your bank account, send it to PayPal, or give it to a charity.
- Rakuten: Previously called Ebates, Rakuten offers cashback on many types of purchases, including certain household bills. You can earn a percentage back on each payment by using Rakuten’s website or app to pay your bills.
- Fetch Rewards: Fetch Rewards lets you collect points by scanning your shopping receipts, even for bills paid at stores that take part. You can use these points to get gift cards, which is like getting money back on what you spend.
- Paytm: Paytm is widely used in places like India and gives you money back when you pay bills for things like utilities and phone recharges. You can save this money back in your Paytm wallet and use it for other payments or send it to your bank account.
Using cashback apps for your bill payments is an easy and helpful way to lower your monthly costs. These little savings can add up and greatly improve your overall money situation.
By being smart and regular about it, you can get the most out of these apps and earn extra money for your usual payments.
4. Participate in Research Studies
Many colleges and research groups often look for people to take part in different types of studies, and they usually pay for your time and involvement. You could join a group discussion, try out a new treatment, or fill out a questionnaire. These chances not only give you money but also let you help with important scientific progress. Websites such as ClinicalTrials.gov are helpful places to find many research projects near you.
5. Switch to a Credit Union
Credit unions offer a cost-effective alternative to traditional banks, providing lower fees and higher interest rates on savings accounts and loans.
How to Switch to a Credit Union
- Research Local Credit Unions: Begin by finding credit unions close to you. Choose those that match your financial aims, provide good rates, and have easy-to-reach branches or online services.
- Compare Services and Rates: Look at what each credit union provides, like checking and savings accounts, loans, and credit cards. Compare their charges, interest rates, and conditions to pick the best one for you.
- Open an Account: After picking a credit union, join by opening an account. You might need to meet some rules, like living or working in a certain area or being part of a specific group.
- Move Your Money: Move your accounts from your old bank to the credit union. This could mean changing where your pay goes directly, updating any automatic payments, and moving your savings.
- Close Your Old Accounts: After everything is moved and your new accounts are set up, close the accounts at your old bank. Make sure you follow the bank’s steps to prevent any extra charges or problems.
6. Use a Community Swap Group
Online groups on websites like Facebook or Nextdoor let you trade things you don’t want anymore for things you do want. This helps build a community feeling, saves money, and cuts down on waste.
How Community Swap Groups Work
These groups act like online stores where people can list things they want to give away or trade. They help you swap items with people nearby, so it’s simple to find neighbors who have what you need or want.
Here’s what you can gain from joining:
- Organize Your Space: Join swap groups to help you clean up by giving away things you don’t need anymore. Instead of leaving them unused or throwing them out, you can give them to someone who will use them.
- Get Free Stuff: Look through swap group listings to find things you need without spending any money. You can find all sorts of items, like furniture, appliances, books, and toys for kids, all for free.
- Help the Environment: By joining swap groups, you help with making things more sustainable by encouraging the use of old items and reducing the need for new ones. This helps lower the environmental harm caused by making and throwing away products.
7. Library Perks
Libraries are places full of useful things you can borrow, not just books. They have many items available for you to use, which can help you save money and keep your home neat. You can find tools, kitchen gadgets, electronics, and more at libraries, so you don’t have to buy them yourself.
8. Meal Prep with Friends
Cooking meals with friends is a fun and efficient way to cut down on grocery costs and enjoy a range of home-cooked dishes. By combining our ingredients and taking turns to cook, we can make meal preparation easier and reduce the amount of food we throw away.
How It Works
- Organize a Group: Gather a group of friends who are interested in meal prepping. Discuss dietary preferences, allergies, and favorite recipes to ensure everyone’s needs are met.
- Choose Recipes: Select recipes that are easy to scale up and can be divided into portions. Consider dishes that freeze well or can be stored for several days.
- Shop Smart: Make a list of what you need for the chosen meals. Think about buying lots of ingredients at once to save money.
- Cook Together: Set a day for everyone to come and cook their chosen meals together. Use this time to exchange cooking advice, have fun with friends, and make cooking more enjoyable.
- Exchange Meals: After cooking and dividing the meals, trade them with the group. This way, everyone gets to eat different meals each day without having to cook every day.
9. Negotiate Your Bills
Talking to your bill providers can help you lower your costs and maybe save a few hundred dollars every year. If you have bills for things like TV, internet, or healthcare, the companies that send these bills usually have some room to change the prices.
They often agree to make changes if it means keeping you as a customer.
How to Negotiate Your Bills
- Research Competitor Offers: Before calling, research current promotions and rates offered by competitors in your area. This gives you leverage during negotiations.
- Prepare to Negotiate: Gather your recent bills and be ready to explain why you are seeking a lower rate. Highlight your loyalty as a customer and any issues you’ve faced that warrant a reduction.
- Call Customer Service: Contact the billing department of the company and politely explain your request to lower your bill. Ask if there are any current promotions or discounts available that you could benefit from.
- Be Persistent and Patient: If the first representative cannot help, politely ask to speak with a supervisor or retention specialist who has more authority to offer discounts or better deals.
- Consider Bundling Services: Companies often offer discounts for bundling services such as internet, cable, and phone. Inquire about package deals that may provide additional savings.
Types of Bills You Can Negotiate
- TV Services: Ask for cheaper monthly prices or check if there are special deals for new subscribers.
- Internet and Phone Services: Inquire about cheaper rates or special promotions for your existing plan.
- Healthcare Costs: Talk to your doctor’s office or billing team about setting up a payment plan or reducing the cost of your medical services.
10. Eco-Friendly Savings
Adopting an environmentally friendly lifestyle helps the environment and saves money by cutting costs in different parts of your life.
Small changes can add up to big savings over time, while also supporting sustainable practices and protecting resources.
Practical Eco-Friendly Tips to Save Money
- Rainwater Collection: Set up a rain barrel to gather rainwater for watering your garden or lawn. This helps you use less water from the city and can save you money during dry periods.
- Making Compost: Use leftover food and yard trimmings to create compost for your garden. This cuts down on the need for purchased fertilizers, saves you money, and improves your soil naturally.
- Saving Energy: Replace old appliances with energy-saving ones, use LED light bulbs, and install smart thermostats to use less electricity. These changes will reduce your energy bills over time.
- Transportation Alternatives: Choose to bike, walk, or take public transport for short trips instead of driving. This can lower your fuel and car maintenance costs and also help you stay fit.
- Use Reusable Items: Start using reusable napkins, shopping bags, and water bottles instead of disposable ones. This helps reduce waste and can save you money in the long run.
In Summary
Saving money doesn’t need big changes or giving up things. By using creative ideas and trying these different strategies, you can find ways to use your money better. Try one or two ideas from this list, and see your savings increase.
Remember, the secret to saving well is doing it regularly and being creative. Keep trying new ways and adjusting your plan to find what works best for you. Enjoy saving!
