17 Commonly Overlooked Ways to Save Money

If you’ve got big financial goals chances are you already know you should be saving money. And if you are looking for something more than skipping stops at your favorite coffee chains and investing in your coffee maker, this is for you!

Here are some overlooked methods that can make a significant difference in your monthly budget.

Turn down your hot water heater.

Heating water accounts for a good portion of energy usage in households.

By lowering the temperature setting on your hot water heater, you can decrease the amount of energy required to heat the water. This leads to reduced energy consumption and lower utility bills.

Switch to Grocery Pickup

If grocery shopping is one of your least favorite activities, I’ve got good news!

One of the easiest ways to manage your meal planning, grocery list, and overcoming impulse buys is by switching from in-store shopping to grocery pickup.

Another perk is that you can also add to cart as you discover you are running out of things instead of constantly checking through your pantry, fridge and freezer to see what you ran out of since your last trip. 

Negotiating bills and expenses

Don’t be afraid to negotiate your bills and expenses.

Contact your service providers, such as cable, internet, or insurance companies, and inquire about any available discounts or promotions. You may be surprised by how often they are willing to work with you to reduce your costs.

Joining a Buy Nothing Group

Joining a buy-nothing group is an often overlooked way to save money.

A Buy Nothing Group is a community organization that encourages members to share resources and give away items they don’t need anymore. It’s easy to join, as each group has its own Facebook page with guidelines about how it works.

Keep a Spending Wishlist

Keeping a spending wishlist can be a valuable tool for managing your money and achieving your financial goals. It involves creating a list of items or experiences you want and then prioritizing and tracking them over time.

Planning and tracking with this list allows you to prioritize your spending goals, plan for the expenditure, and limit overspending. 

Barter with Friends and Neighbors

Bartering allows you to exchange goods or services with others who have items or skills you need, creating a win-win situation for both parties involved.

It also enables you to leverage your unused or extra resources. If you have items or skills you aren’t utilizing fully, you can trade them with others who can benefit from them. 

Reuse What You Have

 Reusing what you already have on hand is a fantastic way to save money. 

It allows you to minimize or avoid making new purchases.

For example, if you have old t-shirts that are unwearable, you can shred them and create cleaning cloths. Or glass food jars you can reuse for organization, planters, or other ideas. 

So before you toss something in the trash bin, take a second look and consider what other purpose it may serve. 

Monthly Money Savings Challenges

Money-saving challenges can be a fun and effective way to motivate yourself to save money. Here are a few popular money-saving challenges that can help you reach your savings goals:

• The 52-Week Challenge: In this challenge, you save a specific amount of money each week of the year, starting with $1 in the first week and increasing the amount by $1 each subsequent week. By the end of the year, you would have saved $1,378. You can customize this challenge based on your financial situation by adjusting the weekly increments or using a reverse approach.
• No-Spend Challenge: The no-spend challenge involves setting a specific period (such as a week or a month) during which you commit to not spending money on non-essential items or activities. This challenge encourages you to focus on your needs rather than wants, identify areas of excessive spending, and develop frugal habits.
• Spare Change Challenge: Collecting spare change can add up over time. Make it a challenge to save all your loose change and deposit it into a savings account or a designated jar. You’ll be surprised how quickly those coins accumulate.
• Meal Planning Challenge: Challenge yourself to plan and prepare meals at home instead of eating out or ordering takeout. Create a weekly meal plan, make a shopping list, and stick to it. Not only will this challenge save you money, but it can also promote healthier eating habits.
• Savings Jar Challenge: Set a specific savings goal and designate a jar or container for it. Every time you have a small victory or make a money-saving decision, put a predetermined amount of money into the jar. It can be a dollar amount or a percentage of the savings achieved. Watching the jar fill up can provide a visual representation of your progress and motivate you to keep saving.
• Digital Detox Challenge: Challenge yourself to reduce or eliminate certain digital expenses such as streaming services, online shopping, or subscription-based apps. By cutting back on these expenses, you can redirect the saved money toward your savings goals.

The possibilities are endless. Pick your favorite and jump in!

DIY Detergents and Cleaners

White vinegar, baking soda, dish soap, and water are not only super accessible, they are incredibly inexpensive. 

Why not consider making your own cleaning products and detergents for a fraction of the price of the ready-made store-bought options? 

Utilizing cashback and rebate programs

Take advantage of cashback and rebate programs offered by credit cards, online shopping platforms, and mobile apps. These programs can help you earn a percentage of your purchases back, providing savings over time.

Some popular options:

• Honey. Honey is an app/browser extension that searches for and tests coupons at checkout on as well as earn Honey Gold from participating sites. Once you’ve earned enough Honey Gold you can redeem for gift cards to some of your favorite stores. 
• Rakuten. Rakuten is a convenient and popular site and mobile app that allows users to earn cashback rewards for their online shopping activities. It also provides additional discounts, coupon codes, and special offers that can be stacked with cashback earnings, helping you save even more money while shopping.
• Dosh. Dosh is a mobile app that offers cashback and automatic savings on purchases made with a linked debit or credit cards. Users can earn cashback at participating retailers, restaurants, and online stores without the need for scanning receipts or coupons. The app securely links to your payment cards and automatically applies the cashback offers when you make qualifying purchases.

Assessing subscription services

 Review your subscription services regularly and determine if you are truly utilizing them.

Cancel any subscriptions that you no longer need or can do without. This includes streaming services, gym memberships, magazines, and other recurring expenses.

DIY home and car maintenance

Learning basic home and car maintenance skills can save you a substantial amount of money.

By tackling simple repairs and maintenance tasks yourself, you can avoid costly professional services and keep your vehicles and home in good condition.

Shopping secondhand and thrift stores

Consider buying clothing, furniture, electronics, and other items from secondhand stores, thrift shops, or online platforms. You can often find quality items at significantly lower prices compared to buying them new.

Utilizing library resources

Instead of purchasing books, magazines, movies, or music, make use of your local library. Borrowing these resources can help you save money while still enjoying a wide range of entertainment options.

Cutting down on convenience purchases

Small daily expenses, such as buying coffee, snacks, or bottled water, can add up over time. Consider reducing or eliminating these convenience purchases by bringing your own snacks, investing in a reusable water bottle, and making your own lunches at home.

Using Money-Saving Apps

There are tons of money-saving apps, but here are a few popular ones that cover a variety of lines in your budget.

• Gas Buddy. GasBuddy is a mobile app and website that helps users find the cheapest gas prices in their area. It relies on user-generated data to provide real-time information on gas prices at nearby stations. Users can search for the best gas prices, read reviews, and earn rewards for reporting prices, making it a valuable tool for saving money on fuel.
• Ibotta. Ibotta is a mobile app that provides cashback rewards for grocery shopping and online purchases. Users can unlock cashback offers, scan receipts, or link their loyalty accounts to earn cash rewards, which can be redeemed through PayPal or for gift cards.
• Fetch. Fetch Rewards is a mobile app that allows users to earn rewards for scanning their grocery receipts. By uploading receipts from participating stores, users accumulate points that can be redeemed for various rewards, such as gift cards to popular retailers. It’s a simple and convenient way to earn rewards for everyday grocery shopping.

Utilizing free or low-cost resources

Take advantage of free or low-cost resources in your community. This can include free community events, public parks, and recreational areas, local workshops and classes, and borrowing tools or equipment from neighbors or community organizations.

By incorporating these often overlooked methods into your money-saving strategies, you can lower your monthly expenses and potentially save hundreds of dollars every month!